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(PDF) Assignment Business Environment

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Added on  2020-01-28

(PDF) Assignment Business Environment

   Added on 2020-01-28

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Business Environment
(PDF) Assignment Business Environment_1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................31.1 Identifying purpose of different types of organization..........................................................31.2 Extent to which Iceland supermarket meets the objectives of its different stakeholders......41.3 Various responsibilities of organization and strategies it employs to meet them..................5TASK 2 ...........................................................................................................................................62.1 Explanation of economic systems for allocating the resources effectively. .........................62.2 Impact of fiscal and monitory policy of Iceland supermarket and its activities....................82.3 Impact of competition policy and other regulatory mechanism on the activities of IcelandSupermarket. ...............................................................................................................................8TASK 3 ...........................................................................................................................................93.1 Effect of market structure while pricing and output decisions of business. .........................9TASK 3 .........................................................................................................................................103.2 Impact of market forces.......................................................................................................103.3 Impact of business and cultural environment......................................................................11Task 4.............................................................................................................................................124.1 Significance of international trade ......................................................................................124.2 Impact of global factors on Iceland Supermarket................................................................134.3 Impact of policies of the European Union on Iceland Supermarket....................................13Conclusion.....................................................................................................................................14REFERENCES..............................................................................................................................16
(PDF) Assignment Business Environment_2
INTRODUCTION Business environment is referred to as the combination of external as well as internalfactors that affects the corporation. Internal factors involves culture of the organization and itsstructure. These factors directly affects the development of strategy including customersperception about firm's offerings, employee-employer relations, production as well as logistics(Palmer and Hartley, 2008). However external factor involves political, social, legal,environmental and all the other factor that affects the activities of the business to a greater extent.Organization is influences by both these factors to a significant level and thus it has to developits policies and strategies in accordance with it. In the present study business environment has been discussed with respect to IcelandSupermarket. The study entails to understand the organizational purposes of business. Further itinvolves nature of national environment in which firm operates. The present report understandsthe behavior of organization in their market environment. Along with this it makes assessment ofsignificance of global factors that shape national business activities. TASK 11.1 Identifying purpose of different types of organizationThe purpose of different types of organization has been enumerated below:Sole trader: This type of business is owned and managed by an individual. The main purpose ofsuch business is to earn profits. Partnership: It is a type of organization that is owned and managed by two or more individuals.The purpose of such business is to work for the interest of individuals and attain common goal. Public listed company: These firm are owned and managed by government. Further their aim isto offer superior quality of services to the customers. Thew purpose of such firms to work for thewelfare of public. For instance, Transport for London. Iceland Supermarkets: Iceland supermarket is British supermarket chain that has 1.8% marketshare within UK in food sector. The firm is privately owned and it makes sales of frozen foodsinvolving prepared meals and vegetables. The firm has been renowned as fastest growing andmost innovative retailers (Björklund, 2011). The purpose of private organization is to increase itsprofitability by offering quality services and products to customers. The company hascommitment towards offering safe, healthy and ethically source eatables.
(PDF) Assignment Business Environment_3
KFC: It is the largest chain across the world that offers fried chicken to the customers. Kentuckyfried chicken is subsidiary firm which implies that its 50% stock or more than is owned byanother organization. Transport for London: It is considered as government organization that carry out operations inorder to manage transport services in London. The company implement effective strategies inorder to bring effectiveness in management. The firm is statutory business which implies that itis completely owned by government or sub government body. Such type of firms does notpossess shareholders and further they are required to offer quality services to the public withoutmotive of profitability. The company performs with the aim to assist the public with soundtransportation and safer routes. Cancer Research: It is the organization that functions to carry out investigation on prevention,investigation, diagnosis as well as treatment of cancer. The firm is non profit business that worksfor philanthropic goal towards interest of public and good of everyone (Hazlina Ahmad andet.al., 2010). The aim of such business is not profit making rather they are charitableorganization that run through donations, legacies as well as community support. 1.2 Extent to which Iceland supermarket meets the objectives of its different stakeholdersThere is presence of no firm that functions in isolation. The organization like IcelandSupermarket works with the aim to satisfy the needs of its stakeholders. These are one haveinterest in the affairs of the business. Iceland Supermarket has been established in 1969 and itpossess market share of 1.8 within UK food sector. The stakeholders of the firm involves itsemployees, suppliers as well as customers (Iskanius, Page and Anbuudayasankar, 2010). Theneeds, perceptions as well as wants of the stakeholders possess the potential to affect theoperations and working of the firm to a significant level. In addition to this the external bodiessuch as government bodies also exerts greater impact on the organization. The following are thestakeholders of Iceland Supermarket: Employees:The cited business is considered as the best place one can work. The company is best atunderstanding the significance of its employees. Further it makes greater efforts in providinghealthy and friendly working environment to personnel. The firm believes that working place isthe location where employees can update their skills and knowledge (Craig and Campbell, 2012).In addition to this it also offers greater opportunities to the personnel. The management of the
(PDF) Assignment Business Environment_4

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