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Report on Business Environment in Vodafone

   

Added on  2019-12-04

18 Pages6095 Words148 Views
BUSINESS ENVIRONMENT1
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TABLE OF CONTENTSTable of Contents.................................................................................................................................2INTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................31.1 Identification of different types of organizations and their purpose......................................31.2 Extent of meeting objectives of stakeholders........................................................................51.3 Responsibilities of brand and strategies for meeting the objectives of business...................72.1 The nature of UK economic system and its impact on resource allocation...........................82.2 The ways in which fiscal and monetary policy impact on the business of Vodafone...........92.3 Impact of competition policy on company..........................................................................10TASK 3...............................................................................................................................................113.1 Explanation of determining the pricing and output decision of Vodafone through marketstructure.....................................................................................................................................113.2 How the organizational responses are shaped by market forces.........................................123.3 The impact that business and cultural environment have on company...............................12TASK 4...............................................................................................................................................134.1 The importance of foreign trade to Vodafone.....................................................................134.2 The ways in which global factors impact the functions of Vodafone.................................144.3 The impact of EU policy on the operations of business organizations in UK.....................15Conclusion..........................................................................................................................................16REFERENCES...................................................................................................................................172
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INTRODUCTIONBusiness environment can be defined as sum total of all extrinsic and intrinsic factorspresent within the corporation that have direct impact on its functioning. The extrinsic factors arethose factors that exist outside the organization but are closely associated with the business likecustomer, rivals, suppliers, society etc. On the other hand, intrinsic factors relates thosecomponents that exist within the business and impact its operating abilities like employees,technology etc (Welford, 2013). The business environment study assists in determining theopportunities and threats within the surroundings. Present report will study the businessenvironment in which Vodafone operates. Vodafone that is a multinational telecommunication corporation was found in 1991. Itholds the position of second largest telecom company of the world calculated as per around 444million users and profits in year 2013. The cited company have its business functions in around27 foreign nations and have partner network in around 55 and more nations. Thereafter, theentity holds human inventory of 101,443 individuals (About Vodafone, 2016). The visionstatement of brand reflects its strong commitment to become leader in telecom industry in termsof revenue, subscribers and worth. In the present report, the purpose of various types oforganizations will be explained. Thereafter, extent to which Vodafone fulfil the purpose of itsstakeholders will be described. The effect of policies on operating ability of brand will bedescribed. TASK 11.1 Identification of different types of organizations and their purposeVodafone is known as a pioneer in telecommunication industry. The main objective ofcorporation is to ensure customer empowerment by assuring that they are confidently connectedwith their dear ones (Wetherly and Otter, 2014). The strategic aim of company is to build asustainable business by minimizing the impact of its working on environment by providingpositive work environment to employees and assuring ethical business operations etc. Themission of Vodafone is to hold the leading telecommunication position in an increasinglybuilding connected world. The purpose of various types of entity is as follows:3
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Public company: It is the type of entity that are administered and controlled by thegovernment of the UK. The shares of such company are listed and dealt at London StockExchange (Craig and Campbell, 2012). The main purpose of such company is tosafeguard the interest of its customers by rendering ethical offerings at affordable price. Italso helps in raising the living standard of the population of the nation by minimisingpoverty and generating maximum job possibilities for young individuals. Example ofpublic company, Vodafone.The goal of company is toexpand its market base in presentglobal market. The mission of Vodafone is to enrich customer lives by providing thembetter quality services at affordable prices and facilitate them to connect with rest of theworld.Private company: They are regarded as company limited by share. This is the type oforganization that is regulated by few shareholders or private bodies. The share of thiscompany cannot be traded on stock exchanges. They must be registered beforecommencing their operations. The shareholders are regarded as owners of the companyand further nominate the key persons; directors that operate company on their behalf(Kim, Suresh and Kocabasoglu-Hillmer, 2013). Enhancing the wealth of shareholders isthe main objective of a private company. This is done by increasing their income in termsof dividend. Example: Virgin Atlantic is a private airline company. The mission ofcompany is to become leading air service provider in UK. The goal of business toincrease the wealth of its shareholders by maximising revenue of business. For thisaspect, sales are boosted leading to positive impact on the profits of business. Partnership: It refers to the association of two or more members who consent to sharelosses as well as revenue. This collaboration has benefitted in a way that it can set upeasily with low cost and it divides risk among partners. For example, John Lewis is apartnership firm that provide retail goods and services (Popescu, 2013). The mission onJohn Lewis partnership is to become leading retail store in UK. The goal of business is tomaximize the share of partners by boosting the sales of business.Sole proprietorship:A single person controls and operates this type of business. Thistype of entity can be started easily with minimal legal formality. It is kind of businessstarted with personal funds of sole proprietor. The main advantage of this type of4
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