Business Environment and Its Factors
12 Pages4087 Words266 Views
Added on 2019-12-03
Business Environment and Its Factors
Added on 2019-12-03
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Business Environment
Table of ContentsINTRODUCTION ...............................................................................................................................4TASK 1.................................................................................................................................................4AC 1.1Purposes of different types of organisation, mission and vision of British Airways.......4AC 1.2 Stakeholders of BA and challenges impacted them.......................................................5AC 2.1 Economic systems that attempt to allocate resources effectively...................................6AC 2.2 Challenges due to fiscal and monetary policies on business environment faced by BA7The impact of fiscal and monetary policies on business organisations are explained as follow.7AC 2.3 Impact of competition policy and other regulatory mechanisms on the activities of BA7TASK 2.................................................................................................................................................8AC 3.1 The market structure of the airline industry impacted the pricing and demand for airline seats.............................................................................................................................................8AC 3.2 The interplay of different players and market forces shape organisational responses...8AC 3.3 Impacted of working practices and cultures of the countries on BA..............................8AC 4.1Impact of global changes in trade regime caused by organisations................................9AC 4.2 Impact of other global factors, including government policies/regulations ..................9AC 4.3 Impact of policies of the European Union on UK business ........................................10CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................11
Illustration IndexIllustration 1: Strategy for acheiving employees objectives.................................................................6
INTRODUCTION Business Environment is combination of both internal and external factors which affects theworking of company, customers, employees, etc. Internal factors that affects business environmentare policies, productivity, management information system, etc. External factor includes customers,suppliers, competitors, agents, etc. To improve the performance organisation needs to examine allthese factors and work accordingly.The following research has based on business environment and to understand the importanceof it in the organisation British Airways (BA) has taken into the consideration. The aspects whichwill covered by under the study are purpose of business, nature of environment, behaviour oforganisations in market environment. Along with these, it also consist of impact of global factors onbusiness activities. In the end, it is concluded with measures and findings of the study.TASK 1AC 1.1Purposes of different types of organisation, mission and vision of British AirwaysThere are various kinds of organisations which have their own purpose and objectivesbehind doing business. The intention of conducting business by different companies are as follows.Sole Traders: It is owned by single person that's why it is called as sole trader. It includesbusiness of plumbing, busking, electrical work, etc. (Types of business organisations, 2015).Partnership: This type of business takes place between two or more than two businesspartners. Example of partnership are Warner Bros, Hewlett Packyard, etc.Public limited company (plc): The share of this type of company are bought by public. Suchtype of business has done for welfare of community rather then made profit. The exampleare: ALBA PLC, British Airways PLC, Tesco PLC etc (Alcidi and Gros, 2011).Private limited company: In this, the shares of company are not available for public. Thecapital of these company can be smaller or larger as compare to public limited company.Examples are: Virgin Atlantic, Thames water, etc (Fernando, 2011).BA PLC is one of the leading airline of UK. The mission and vision along with short andlong term objectives of are described as below:Mission: The mission of BA is to serve quality services to the customers by using limitednatural resources. It wants to be first choice of customers.Vision: The vision of BA is to become most responsible airline by providing variousfacilities to the customers and doing social welfare.Objectives: BA has both short and long term objectives. Short term objective is to satisfy its
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