Business Environment Study Assignment

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Added on 2019-12-03

Business Environment Study Assignment

Added on 2019-12-03

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BUSINESSENVIRONMENT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 The purposes of different types of organization...............................................................11.2 Key stakeholders of BA and the challenges impacted the organization..........................31.3 The ways in which BA responds to fulfill its responsibilities to these stakeholders.......3TASK 2............................................................................................................................................42.1 Economic system that attempt to allocate the resources differently................................42.2 Challenges due to fiscal and monetary policies on business environment faced by Britishairways in the last one decade................................................................................................42.3 The impact of competition policy and other regulatory mechanisms on British Airways5TASK 3............................................................................................................................................63.1 Different Market structures determine the pricing and output decisions of businesses...63.2 The impact of different players and market forces on organizational responses.............73.3 The impacted of working practices and cultures of the countries on British Airways.....7TASK 4............................................................................................................................................84.1 The impact of global changes on British airways............................................................84.2 The impact of other global factors, including policies/regulations of government playerson British Airways..................................................................................................................84.3 The impact of policies of the European Union on British Airways.................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONBusiness environment refers to the circumstances under which a company operates. Nocompany works in isolation, its working has the direct influence of various internal and externalfactors. External factors include political influences such as law and regulations framed bygovernment, macro-economic forces like consumer confidence, economic conditions,technological innovations and internal factors like organizational management structure andbusiness reputation. This report outlines the scenario, how the business organization operates indifferent economic, cultural, regulatory environment. This report in is the context of BritishAirways, which is the largest Airline in UK in terms of fleet size with no. of subsidiaries. Itfocuses on the short term and long term visions of the cited organization, its credibility over theirstakeholders, and impact of state's policies to check the business undertakings. Other areas ofdiscussion include the impact of global changes on company's financial status and its policyframework. TASK 11.1 The purposes of different types of organizationOn the basis of ownership business organization can be categorized in the followingways:Sole proprietorship: In this form of business, organization is run and managed by anindividual. Though he can employ other persons, he is entitled to the profits and has tobear all the losses. In this type owner gets the 100% profit from its transactions of allforms (Sakbani, 2005).Public Ltd. Company: Public Organization is similar to that of private limited companies.Under this, shares are distributed to its partners. These partners sign a memorandum ofassociation. Board of directors control and manage the organization and accountable fordistribution of profits among its members (Bowen, 2013).Private Company: the capital of private limited company is divided into parts calledshares. These share are freely transferable into its members. Liability of members is verylimited. Due to its limited liability feature it starts on large scale and has high growth andprofit possibility (Tung and Wan,2008).1

Partnership: In partnership group of people run and own a business together. All thepartners agree to work together by signing an agreement stating various clause regardingthe shares and liabilities of every individuals. Losses and profits are shared betweenpartners and decisions are taken on mutual consent (Nandakumar, Ghobadian andO'Regan, 2010).Considering the case of British Airways, following are its visions and missionsVision: The Company has the vision of becoming the world's leading global premium airline byproviding elite services to its customers.Mission: Its mission is to widen the stream of customers by improving the future prospects ofbusiness and making it beneficial for colleagues and shareholders as well. Further, companyaims to offer outstanding and distinguishing services to the Travelers in order to becomesuccessful in the market place.In order to achieve the stated vision and mission BA has set some objectives:Short term:1.To deliver the remarkable service to the travelers in every strata of their journey.2.To meet the passenger's need and boost the margins by introducing new products andbetter hospitality services.3.To increase the sales volume by offering lucrative prices at the time of occasion likeChristmas and another events 4.To spread the awareness among target customer with the help of social media and mobilemarketingLong term:1.To remain the first choice of the long-haul premium customers. With this, company isable to enhance its competency.2.To nurture its presence globally. It can be done by creating a good base in developedeconomies and emerging countries. London is the organization's home city, and also thehub of one of its subsidiary Heathrow. It’s vital to ensure the dominance over there. Forthis it is aiming to work in collaboration with airport authority and influence thegovernment policy decisions (Business environment, 2015).2

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