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Business Environment of British Airways

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Added on  2019-12-03

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Business Environment TABLE OF CONTENTS INTRODUCTION 1 TASK 11 1.1 Purpose of different types of organization 1 1.2 The objectives of different stakeholders in British Airways 2 1.3 Responsibilities of British Airways and strategies employed to meet them 2 TASK 23 2.1 Economic systems attempt to allocate the resources effectively 3 2.2 Impact of fiscal and monetary policies on British Airways 4 2.3 Impact of competition policy on British Airways4 TASK 35 3.1 Market structures determine the pricing and output decisions of businesses 5 3.2 Ways in which market forces influence

Business Environment of British Airways

   Added on 2019-12-03

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Business Environment
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Purpose of different types of organization.......................................................................11.2 The objectives of different stakeholders in British Airways............................................21.3 Responsibilities of British Airways and strategies employed to meet them....................2TASK 2............................................................................................................................................32.1 Economic systems attempt to allocate the resources effectively......................................32.2 Impact of fiscal and monetary policies on British Airways.............................................42.3 Impact of competition policy on British Airways............................................................4TASK 3............................................................................................................................................53.1 Market structures determine the pricing and output decisions of businesses...................53.2 Ways in which market forces influence the organizational response...............................63.3 Effect of business and cultural environment in shaping the behaviour of British Airways..7TASK 4............................................................................................................................................74.1 Significance of international trade to UK business organizations....................................74.2 Impact of global factors on British Airways....................................................................84.3 Impact of policies of European Union on UK business organizations.............................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONBusiness environment includes all the factors which affect functions of the organization.There are mainly two types of factors which are internal as well as external. Internal and externalfactors include management, customers, employees, supply, business regulations and demand.Present report is about British Airways which is the largest international Airlines located in UK(Business Environment and Law, 2015). This report covers all the different types of organizationwhich exists in business environment. In addition to this, it includes fiscal and monitory policiesfollowed by the British Airways. Lastly, it also covers the measures which can be taken by theBritish Airlines in order to remove the competition.TASK 11.1 Purpose of different types of organizationThere are mainly three types of organization, which are private, public and charitable.Following are the purpose of these organizations:Private organization: The main aim of these organizations is to earn maximum profits byattracting more and more customers and by satisfying their needs as well as requirement.Public organization: For this type of organizations, the main aim is to provide activities for thewelfare of the people and to give individuals employment opportunities (LiPuma, Newbert andDoh, 2013).Charitable organization: Main aim of charitable organization is to conduct activities which willhelp and support poor and needy individual.British Airways is one of the largest international airlines in UK. It is covering around 170destinations and has its airports in 80 countries. BA mainly focuses on providing their customerswith quality services and further it is also emphasizing on expanding their business. Like all thefirms they concentrate on achieving their missions and vision. Their mission is to become themost favourite airlines in the world. For achieving this mission, they aim at providing highquality services to their customers by understanding their needs and requirements. Vision of BAis take important measure which will help them in saving resources like carbon (Porter andRivkin, 2012). They aim at reducing the use carbon from its aircraft. Through this vision BritishAirlines wishes to create friendly environment image in the world. This will further help insetting an image among customers that they are very careful and conscious regarding theenvironment. Moreover, BA has five strategic objectives which are providing high quality1
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services, to become the airline of choice, expanding its business around the world and fulfillingall needs and requirements.1.2 The objectives of different stakeholders in British AirwaysThere are many stakeholders in BA and firm focuses on fulfilling all the requirements and need.It also emphasizes on maintaining a healthy relationship with them. Following are differentstakeholder in British Airways:Customers:They are the one from which the business runs. In other words they are the one thatgive business to the organization and helps them in earning revenue. All the firms focus onearning maximum profit and this is only possible when organizations attract more and morecustomers. British Airways understands their customer’s requirement and according to theirneeds and requirement it provides high quality services (Richards, Wangenheim and Schroll‐Machl, 2012).Employees: They are one of the important stakeholders of the organization. Moreover, growth ofthe organization depends upon their performance so firm has to motivate them and encouragethem so that they can work effectively. Therefore, British Airways should treat employees astheir most valuable assets of the organization and they should also offer healthy workingenvironment to its staff (Wild, Wild and Han, 2014).Creditors: Creditors provide long term and short term loans to the organization. It is veryimportant for British Airways to maintain healthy relationship with them. Therefore, the firm isrequired to perform effectively so that they can earn sufficient amount of profit in order to paytheir debt to creditors on time.Stakeholders: These are the people who invest in the organizations. It is very important for BAto maintain a healthy relationship to earn good return of capital employed which is provided bythese shareholders.1.3 Responsibilities of British Airways and strategies employed to meet themIn order to maintain a good relationship British Airways have many responsibilitiestowards their stakeholders. Following are the responsibilities which are followed by BA for theirstakeholders:Customers: As it has been discussed that firms operate in order to earn high profits and this ispossible only if it attracts more and more customers. Responsibility towards customers is toprovide them with quality services and should understand the problems or issues which they2
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