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Introduce to the Business Environment
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Added on 2019-12-03
Introduce to the Business Environment
Added on 2019-12-03
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BUSINESSENVIRONMENT1
TABLE OF CONTENTSIntroduction......................................................................................................................................4LO1 : Understanding the Organizational purposes of businesses...................................................4Q1. Identification of four types of organization and description of their legal structure............4Q2. Stakeholders of the company................................................................................................5Q3. Various responsibilities of an organization...........................................................................8LO2 : Understand the nature of the national environment in which businesses operate.................9Q4. Economic system of a country..............................................................................................9Q5. Impact of fiscal and monetary policy..................................................................................10Q6. Impact of competition policy..............................................................................................11LO3 : Understand the behaviour of organizations in their market environment...........................12Q7. Determination of pricing and output decision in different market structure.......................12Q8. Market forces which shape short and long term organizational responses.........................14Q9. Assessment of business and cultural environment shape the behavior of organization.....14LO4 : Be able to assess the significance of the global factors that shape national businessesactivities.........................................................................................................................................15Q10. Significance of international trade....................................................................................15Q11. Impact of Global factor.....................................................................................................16Q12. Evaluate the impact of European Union on UK business.................................................18Conclusion.....................................................................................................................................19References......................................................................................................................................202
INDEX OF TABLESTable 1: Legal Structure...................................................................................................................4Table 2: Organizational Purposes....................................................................................................4Table 3: McDonald's Stakeholders and their Objectives.................................................................6Table 4: Burberry's Stakeholders and their Objectives....................................................................7Table 5: Allocation of Resources.....................................................................................................9Table 6: Fiscal and Monetary Policy.............................................................................................10Table 7: Impact of Competition Policy..........................................................................................11Table 8: Different Market Structure..............................................................................................13Table 9: Advantage and Disadvantages.........................................................................................15Table 10: Impact of Global Factor.................................................................................................16Table 11: Impact of European Union.............................................................................................18ILLUSTRATION INDEXIllustration 1: Types of Responsibilities..........................................................................................8Illustration 2: Market Structure......................................................................................................133
INTRODUCTIONBusiness environment refers to as the environment which is prevailing within and outsidethe surroundings of business organization. Essentially this environment should be assessed andanalyzed by the organization in order to ensure the smooth working of an enterprise so that goalsand objective can be achieved in an effective manner. This eventually helps the company incoping up with the changing trends in an industry and also the effect of unavoidablecircumstances can be minimized (Besley, Persson and Sturm, 2010). This report has beendivided into four task in which 1st task is based on the understanding of the organizationalpurpose of 4 different companies that is Burberry, McDonald, NHS and General ElectricsCompany. In 2nd task, discussion has been made on the effect of UK environment on businessorganization. And in rest of the task, emphasized has been made on the behaviour oforganization in UK market and also the significance of global factors which shape businessactivities (Beugelsdijk and Eijffinger, 2005).LO1 : UNDERSTANDING THE ORGANIZATIONAL PURPOSES OFBUSINESSESQ1. Identification of four types of organization and description of their legal structureThere are 4 organization of different industry which have been selected and it is being describeda follows along with their legal structure:Table 1: Legal StructureOrganization NameLegal StructureBurberryPrivate Limited CompanyNational Health ServiceVoluntary TrustMcDonald'sPrivate Limited CompanyJohn Lewis PartnershipPartnershipTable 2: Organizational PurposesMcDonald'sAddressing thestakeholdersBurberryAddressing thestakeholders4
Vision andMissionIt wanted toprovide bestquick servicerestaurantexperience and itsmission is tobecomecustomer's firstchoice in termsof top qualityproducts,outstandingservices and greatvalue for money(Grewal andet.al., 2011).McDonald's arehighly concernedabout theircustomers andsatisfy themhighly. Similarly,it is quite focusedon its employees. It wanted tobecome a fullydigital companyand to build asocial enterprise.It missi0on is tomaintain integrityand vitality oftheir brand. Burberry paysproper taxes tothe governmentand provide equalemploymentopportunities tothe candidates(Besley, Perssonand Sturm, 2010).Goals It wanted tocommunicate itsnew healthyalternatives in theUK successfully.It wanted to topleading fashionorganization in anindustry (Lihitkar,2013).ObjectivesTo create 20%awareness abouthealthyalternativeswithin a year. To increase 25%sales in next year.To maximize theprofit margin by6% within a year.Q2. Stakeholders of the companyMcDonald's5
Table 3: McDonald's Stakeholders and their ObjectivesStakeholderInternal/ExternalExpectationObjectivesMeeting theObjectivesShareholdersInternalMore profit andShareholder valuemaximization.To increase thegrowth by 10%till December2016.Attempts to goodquality services atcompetitive pricesand plans to earnsmaximum profits(Beugelsdijk andEijffinger, 2005).EmployeesInternalBetterremuneration andjob security.(Ingenbleek, Pauland Lans, 2013).To achieve hikein the salary up to15% till nextyear. Company isplanning toprovide rewards,recognition,bonus, etc.GovernmentExternalMore tax revenueand want to createmore jobopportunities.To increase thetax rate by 4%and to providelicense for 10more outlets forjob creation.Company willpay taxes on timeand will play fairgames in industry.CustomersExternalWanted to satisfytheir need inreturn of thevalue they arepaying.Moreover,hygienic andnutritious food.To consume thefood at lowestprice(Beugelsdijk andEijffinger, 2005). Firm aims toprovide excellentquality food andenvironment atlow prices.6
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