Business Environment | Identify the Purposes of GlaxoSmithKline (GSK)
Added on 2020-01-07
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BUSINESSENVIRONMENT
ContentsIntroduction................................................................................................................................4Task1..........................................................................................................................................5(1A)........................................................................................................................................5(AC 1.1) Identify the purposes of GlaxoSmithKline (GSK) the National health service ofUK(NHS), the Red cross and any cooperative society in UK that you are familiar with......5(AC1.2) Describe the extent to which GSK meets the objectives of its key stakeholders.....7(AC1.3) Explain the responsibilities GSK has towards its key stakeholders and thestrategies employed to meet them..........................................................................................9(1B).......................................................................................................................................10(AC 2.2) Taking into consideration the recession that faced UK in 2009 assess the impactof the UK government’s fiscal and monetary policies on the activities of GSK and AZ....10(1C).......................................................................................................................................12(AC 2.3).With reference to the Enterprise Act 2002 and article 101 and 102 of the EUlegislation, evaluate how the UK/EU competition and regulatory policies can or haveimpacted on the activities of the GSK..................................................................................12(1D)......................................................................................................................................14(AC 3.2).Using a range of examples, illustrate how the forces of demand and supplyaffects the pricing and sales decisions of GSK....................................................................14(1E).......................................................................................................................................16(AC 3.3)................................................................................................................................16With the aid of the management tool called PEST/PESTEL judge how the businessenvironment impacts /affect the behaviour of GSK.............................................................16(AC 3.3) (b)Judge how the cultural environment determines the behaviour of GSK.........16(1F).......................................................................................................................................18(AC 4.1)Discuss the significance of international trade to GSK and AZ............................18(1G)......................................................................................................................................19
(AC 4.2) GSK and AZ are multinational companies operating in many parts of the world.Analyze how global factors can affect their activities (Consider, political, economic, social,technological, ecological and legal factors in the global context but not local)..................19(1H)......................................................................................................................................21(AC 4.3) Evaluate how the policies of the European Union, including the ones mentionedbelow, can or have impacted on the activities of GSK and AZ...........................................21Task 2.......................................................................................................................................22Explain the three economic systems (Free market, command and mixed) and discuss whyyou think one of them allocates resources more effectively than the others (AC 2.1)........22Task 3.......................................................................................................................................23Explain how prices and output decisions are determined in a perfect competitive market,Monopoly, monopolistic competition and Oligopoly. (3.1).................................................23Conclusion................................................................................................................................24Reference..................................................................................................................................25
IntroductionDifferent purposes of different types of organisations are identified. Different stakeholders and theirobjectives are assessed over the case study of GSK and AZ. The strategies to meet with theobjectives are discussed. The responsibilities to different stakeholders of GSK and their strategieswith marinating the responsibilities are discussed. The fiscal and monitory policies of EU and theirimpacts on GSK have been assessed. The competition policy and other regulatory policies areanalysed. Different market structure, market forces, cultural environment forces etc and theirinfluences are discussed.
Task1(1A)(AC 1.1) Identify the purposes of GlaxoSmithKline (GSK) the National healthservice of UK(NHS), the Red cross and any cooperative society in UK thatyou are familiar with.There are different types of organisations which are associated with the business environment.These are:Sole tradersPartnerships Private limited CompanyPublic Limited CompanyFranchises Co-operativesJoint venture (Teece, 2010)The purpose of different organisations is different. These are:Purpose of Glaxo Smith Kline or GSK: GSK is drug manufacturing company and there are mainly threepriorities within their mission strategy. These are: to have balanced growth and increase the growth,reduction of risks and improvements of the long term financial issues. The main purpose of GSK is togrow a balanced business in global market within pharmaceutical industry and by simplifying theoperating model deliver more products to the market. Return of the capital employed is also mainpurpose of GSK. (Teece, 2010)Purpose of NHS: the purpose of NHS is to deliver the care services for health and social care.Providing high standards services to the care users is the main priority for NHS. The NHS ensures theeffective use of valuable resources in order to get profitable and best outcomes for the individuals,society and community in present and future perspectives. (Cantwell, Dunning, and Lundan, 2010)Purpose of Cooperative society: the cooperative has the purpose to make benefits for the individualwho are attached to the cooperative. The profits are divided within the individuals.
Purpose of Red Cross: the purpose of Red Cross is to prevent the sufferings of the human pain fromthe society and attached the volunteers and donators in this respect to the Red Cross. (Cantwell,Dunning, and Lundan, 2010) Red Cross is non profit motivated organization.
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