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Business Environment Assignment - Iceland Supermarket Assignment

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Added on  2020-01-28

Business Environment Assignment - Iceland Supermarket Assignment

   Added on 2020-01-28

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Business Environment 1
Business Environment Assignment - Iceland Supermarket Assignment_1
Table of ContentsINTRODUCTION ...............................................................................................................................4TASK 1.................................................................................................................................................41.1 Purpose of organizations ...........................................................................................................41.2 Iceland Supermarket meets the objectives of its different stakeholders....................................51.3 Responsibilities of Iceland Supermarket and strategies to meet expectations of stakeholders.5TASK 2 ................................................................................................................................................62.1 Different economic systems attempts to allocate resources effectively....................................62.2 Impact of fiscal and monetary policy on Iceland Supermarket and its activities .....................82.3 Evaluation of impact of competition policy and other regulatory mechanism on activities of Iceland Supermarket .......................................................................................................................9TASK 3 ................................................................................................................................................93.1 Market structure which determine the pricing and output decision of businesses including Iceland Supermarket .......................................................................................................................93.2 Market forces shape Iceland Supermarket responses..............................................................103.3 Impact of business and cultural environment in shaping the behaviour of Iceland Supermarket...................................................................................................................................11TASK 4...............................................................................................................................................124.1 Significance of international trade to Iceland Supermarket.....................................................124.2 Impact of global factors on Iceland Supermarket....................................................................124.3 Evaluation of impact of policies of the European Union on Iceland Supermarket.................13CONCLUSION .................................................................................................................................14References..........................................................................................................................................152
Business Environment Assignment - Iceland Supermarket Assignment_2
Illustration IndexIllustration 1: Free market economy system .......................................................................................7Illustration 2: Command economy system...........................................................................................7Illustration 3: Mixed economy system ................................................................................................83
Business Environment Assignment - Iceland Supermarket Assignment_3
INTRODUCTION Business environment is a sum of internal and external elements that affect businessoperations of a company (Brinkman, Navarro and Harper, 2014). A close interaction betweenvarious activities of an organization and its environment is more important. It helps in givingstrength to the business of an enterprise and utilizing resources in a proper manner. The study ofbusiness environment enables company to interpret future problems in advance so new strategiesand plans can be made according to it. With the help of it, firm can understand market conditionsand develop various policies (Haidrer, 2010). The following research has based on businessenvironment and to understand the role of it in the business, Iceland Supermarket has taken into theconsideration. It is a subsidiary company of Associated British Food (ABF) Group. It is a retailsupermarket and operated 238 outlets in the UK, Ireland and Europe. Objectives which will coverunder present research are organizational purposes of businesses, nature of the national environmentin which company operates its business, behaviour of firm in the market environment andsignificance of the global factors which shape business activities (Craig and Campbell, 2012). TASK 11.1 Purpose of organizations Iceland Supermarket: It is a subsidiary company of Associated British Food Group and it is one ofthe large supermarket chains of retail goods. It is a private limited firm and its present market shareof firm till 2014 in UK is 1.9% (UK supermarkets (market share 2015 2014). 2016). Products whichare offered by Iceland Supermarket are frozen goods and groceries. Main purpose of company fordoing retail business is related to meet the consumer’s expectations, raise market share and attractlarge number of service users (Groza and Ragland, 2016). To achieve all these objectives, firm istrying to deliver good purchasing experience to the customers. KFC: It is a chain of fast food which is specialised in fried chicken. It is world’s second largestchain of fast food restaurant after McDonald's and KFC falls under public limited company. It hasmore than 118 stores across the world and headquarter of company is situated in United States.Main purpose of KFC for conducting business in fast food sector is related to offer good qualityproducts and services with wider range of fried chicken to the customers. Transport of London (TFL): It is a Statutory Corporation and a local government organizationwhich is responsible for maintaining transport system of Grater London, England and it is a publiclimited company. It is accountable for managing London road, under and over ground rail networks,trams, taxis, buses, river services and cycling provision (Hamilton and Webster, 2015). Main4
Business Environment Assignment - Iceland Supermarket Assignment_4

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