Business Environment - McDonalds
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Added on 2020-01-23
Business Environment - McDonalds
Added on 2020-01-23
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BUSINESS ENVIRONMENT1
Table of ContentsIntroduction..........................................................................................................................................1Task 1 Understand the organizational purposes of businesses.............................................................11.1 Identify the various types and purposes of different business organizations........................11.2 Describe the extent to which BT meets stakeholder's objectives..........................................21.3 Explain the various responsibilities of BT towards the stakeholders along with ways of fulfilling them.............................................................................................................................2Task 2 Understand the nature of the national environment in which businesses operate....................32.1 Explain how economic systems attempt to allocate resources effectively...........................32.2 Assess the impact of fiscal and monetary policy on business organization and their activities.....................................................................................................................................................42.3 Evaluate the impact of competition policy and regulatory mechanisms on the activities of BAA............................................................................................................................................5Task 3 Understand the behavior of organizations in their market environment...................................63.1 Explain how market structure determine the pricing and output decisions of businesses....63.2 The ways in which market forces shape organizational responses.......................................73.3 Judge how business and cultural environment shape the behavior of McDonald's..............7Task 4 Be able to assess the significance of the GLOBAL FACTORS that shape national business activities................................................................................................................................................74.1 Discuss the significance of international trade to UK business organizations......................74.2 Analyze the impact of global factors on UK business organizations....................................84.3 Evaluate the impact of policies of the European Union on UK business organizations.......8Conclusion............................................................................................................................................9References..........................................................................................................................................102
INTRODUCTIONBusiness environment is the study that includes internal and external forces which impactsbusiness practices and processes. It includes several components which changes business conditionsand along with this, it also analyzes suitable market place for the business entity (Mohamed andLashine, 2003). The present research study has been made on different organizations who work fordifferent purpose and for different objectives. In such context, researcher has discussed the waysthrough which expectations and needs of stakeholders can be fulfilled. Further, in the studyresearcher has also discussed impact of fiscal and monetary policies on business organizations. Thegovernment of UK has framed strategies which business entities of UK are required to consider anda few strategies are discussed in the present research study. Moreover, researcher has also discussedcategories of organizations along with their purpose of operating business in competitive marketplace. TASK 1 UNDERSTANDTHEORGANIZATIONALPURPOSESOFBUSINESSES1.1 Identify the various types and purposes of different business organizationsTypes of business are always dependent on the purpose and sector and in the presentresearch study; several types of business organizations are discussed (Sampat, 2007). Private,public, partnership and sole trade are the major categories of business organizations and each of theorganization follows different style of management.Sole trade: In sole trade, there is only one person that has the power to manage all businesspractices in an adequate manner. Sole trade is the best form of enjoying all the profits andachievements because owner does not have to share profits with anyone. Hence, the ownercan adopt whatever style of management he wishes to adopt. Partnership: In partnership, there are more than two to three people who manages businessprocesses and who are entitle to share profit and loss among each other as per the definedratio (Yannelis, 2004). Further, in partnership, there exist equal roles and responsibilities forall the partners. The manager has to make sure that all the employees are getting adequatetreatment and respect which is further the best way of retaining them. Private sector: Private sector involves private ownership in which the business entities arenot entitled to involve public bodies in the ownership (Prasad, 2010). Private sector is theone that comprises of different organizations and they do the business by including privatebodies.Public sector: Organizations that manage their business in public sector can also involvepublic bodies by delivering them shares of the company. BT Group plc is a holding1
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