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Business Environment Iceland supermarket Assignment

   

Added on  2019-12-28

10 Pages2842 Words183 Views
BUSINES SENVRIONMENT

TABLE OF CONTENTSBUSINES S ENVRIONMENT.......................................................................................................1INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P.1 Describe the type of business if it is a sole trader, partnership or private limitedorganization, mention the purpose and ownership of two contrasting businesses......................31.2 Describe the various stakeholders and how an organization could meet their objectives.....4P.3 Describe how two businesses are organized in terms of their structures and functioningareas.............................................................................................................................................5P.4 Explain how the style of organization of your chosen businesses helps them to fulfil theirpurposes.......................................................................................................................................6TASK 3............................................................................................................................................8P.5 Describe the influence of two contrasting economic environments on business activitieswithin a selected organization.....................................................................................................8TASK 4............................................................................................................................................8P.6 Describe how political, legal and social factors are impacting upon the business activitiesof your selected organizations and their stakeholders.................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10What is the Economic Environment of Business?, 2017. [Online]. Available through :<http://www.mbaofficial.com/mba-courses/business-environment/what-is-the-economic-environment-of-business/>. [Accessed on 9th May 2017].............................................................10

INTRODUCTIONIceland supermarket is the one of the largest retail firm in the UK which have severalstores in the mentioned nation. Firm currently offering wide variety of products to the people. Itis also commence sale of new products on its store. Current research is carried out on thebusiness environment. In this report detail discussion is carried out on the components of themacro and micro environment. Their relevance with the objectives and firm business decisions isdiscussed briefly. Analysis of firm is done and its influence on the firm decision making isexplained briefly. Finally, at end of the report conclusion section is prepared.TASK 1P.1 Describe the type of business if it is a sole trader, partnership or private limited organization,mention the purpose and ownership of two contrasting businessesThere are three kinds of organizations like public, private and nonprofit organizations. Purposeof these organizations is given below.Sole trader- These are mainly small sized business that have limited resources. Theirmain aim to increase their profitability. Due to this reason their main purpose is to controlcost as much as possible.Partnership- In this mode of business multiple people as a owner of business operate afirm. Their main purpose is to increase profitability of the firm by taking mutualagreeable decision. (Al-Debei. and Avison, 2010).Public organizations- The main purpose of such kind of organizations is to createemployment opportunities. Welfare of existing labor force is another important objectiveof these public sector organizations. Due to this reason these firms mostly run in loss orthey are not able to generate sufficient amount of profits.Private organization- British airways is a private firm and profit maximization is itsprimary objective which is divided into various sub objective. The organization is able toachieve its long-term objectives through achievement of short-term targets orbenchmarks. These firms strictly follow the business policy. However in order to earnmore amount of profit, the employees’ welfare is ignored sometimes.

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