Impact of Globalisation on Business Environment (pdf)
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Added on 2019-12-03
Impact of Globalisation on Business Environment (pdf)
Added on 2019-12-03
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 types of business organization..............................................................................................11.2 Stakeholders and the extent to which the organization meet its objectives..........................21.3 The responsibilities of an organization.................................................................................2TASK 2............................................................................................................................................32.1 Different economic systems and the imp[act of UK's economic system on the organization.....................................................................................................................................................32.2 Impact of fiscal and monitory policies on organization........................................................42.3 Impact of competition policy and other regulatory mechanisms..........................................4TASK 3............................................................................................................................................53.1 Different market structures and their impacts on the pricing and the output decisions........53.2 Market forces and their impact in shaping the organizations responses...............................63.3 Impact of business and cultural environment........................................................................6CONCLUSION................................................................................................................................7
INTRODUCTIONIn the era of Globalization, the market trends are becoming dynamic. The factorsaffecting the functioning of the business organizations are changing rapidly in differentdimensions. The business organization operates under the influence of external and internalfactors. External factors refers to the Government policies, macroeconomic factors, technologicalchanges, political environment and social influences whereas the internal factors has thenarrower domain but has greater influence. Internal factors refers to the customer's preferences,employment conditions, strategic decisions and the operational management of the organization.The success of the business organization depends upon the ability to adapt itself with thechanging scenarios and dynamics (Björklund, 2011). To establish the prominent position in themarket place, the organizations adopts various strategies. The report outlines the businessenvironment of the organization in which it is prevailing. For that purpose, the businessorganization Wm Morrison Supermarkets plc. is taken into account. Morrison's are the fourthlargest chain of supermarkets in United Kingdom. This report throws light on the strategicobjectives of Morrison's and the extent to which it fulfills the responsibilities towards thestakeholders. Further, it analyzes the impact of external factors such as government policies,market forces and other factors.TASK 11.1 types of business organizationOn the basis of the ownership, the degree of profit holding and the structure of formationthe business organization are categorized in the following manner:1.Sole proprietorship: The type of organization which has the single owner is known as theSole proprietorship. The owner is entitled for all the profit earnings and the liabilities.The company is required to be registered at the registrar of Business names (Welford,2013). 2.Partnership: The partnership consists of 2 or more owners who enter into the deed ofpartnership or the partnership agreement. The partners agree with all the clauses and signthe agreement with mutual consent. In this type or organization responsibilities getdivided among the partners as per their shares in the finance and investment. Further, itunlimited liability.1
3.Public Limited Companies: In these organizations, the shares are distributed publicly.The memorandum is signed between the shareholders. These companies are required toregister itself at stock exchange (Iskanius, Page and Anbuudayasankar, 2010). It posseslimited liability due to large number of shareholder.4.Co-operatives: The group of people who work together with mutual consent. Themembers posses equal rights irrespective of the share of finances.Morrison's supermarket falls into the category of public limited companies. Theorganization has the offerings in the low cost with high quality. There is the board of directorswho are entitles to the responsibility of distributing the dividends to the shareholders. The boardmembers make the decisions to bring improvement in the organization by taking variousstrategic decisions (Chi, Kilduff and Gargeya, 2009).1.2 Stakeholders and the extent to which the organization meet its objectivesThere are various stakeholders of the organization Morrison that impact its working.Customers: The customers are the central point of the business organization. The workingrevolves around the process to satisfy the customers need and choices in all respect.Colleagues: The efficiency of the organization totally depends on the working capability of thecolleagues. Their productivity of the employees imparts the significant impact.Suppliers: The supermarket store has the wide family of employees and suppliers. The relationalconstructs with the suppliers and the smoothness of the logistics are the soul of the operations.Morrison has the special focus on this sections. It always intends to improve the supply chainand make it more effective (Xue, Shen and Ren, 2010).Government agencies: The Government agencies lay down rules and regulations for theoperation of the organization in the lawful manner. Morrison's supermarkets always abides thelaws laid down by the legislative agencies.1.3 The responsibilities of an organizationThe organization fulfills the responsibilities in different areas.Social responsibilities: The organization Morrison's understands the responsibility towards thesociety and public. It has the continued delivery of the Government's public health responsibilitydeal commitments and has the market street deals on fresh produce.2
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