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Business Environment PDF

Added on - 23 Nov 2020

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KEY ISSUES INBUSINESSENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Macro issues in business environment.........................................................................................1Factors impact on organization...................................................................................................3Two challenges faced while carrying out the report....................................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................7
INTRODUCTIONIssues in business environment is very challenging situations which impact on businesssuccess and growth. Challenges of changing laws and regulations, climate change, technologychanges and other are the factors that create many issues for organization and in their businessesenvironment (Kolk, 2016). The present report is based on Banking sector within UK which geteffected by macro issues. This report explains macro issues in businesses environment that issignificant for Banking sector.It clarifies potential impacts at micro level due to any 2 identifiedissues. Furthermore, this report justify any 2 challenges that has been faced while carrying outthe tasks and also explain some appropriate suggestion to overcome such challenges.MAIN BODYMacro issues in business environmentMacro issues in business environment influence banking sector within UK economy aswhole. Political factors, economic factor, technology, environment, social and legal factors is the6 types of macro issues that has affect banking sector and its business functions the most(Sammut‐Bonnici and Galea, 2015). PESTEL analysis is one of the best and appropriateacademic model that helps to describe and identify macro problems in banking environment. Allthese above factors is significant for UK banking sector and impact on their services and anotherfunctions.Factors or macro issues-Political factor-Political factors is the activity which is related to government policy,law and regulations. It is administrative practice that haveimpact on company or organizationover all operations.Most business operators keep an eye onany political elements such as newregulatory shifts and legislation which have substantial effect on how organization operates(Gomes and et. al., 2015).Government laws and regulations impact UK banking sector, 2016 isvery challenging political environment for many banks in UK, banking sector characterised bynew regulatory and superior rules like EU bank recovery and resolution directive and UKbanking reform Act.Negative impact-It required from banking sector and organizations underworking to follow new regulations or rules which is quite difficult for them as they changedwhole structure of business.Positive impact-If banking sector have some flexibility at somestage in their business structure to adopt or implement new capital rules, they can run itsfunctions and services easily more than before.1
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