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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 1 Task 11

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Added on  2019-12-03

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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 1 Task 11 1.1 Purposes of different types of organization 1 1.2 Extent to which organization meets objectives of stakeholders2 1.3 Responsibilities and strategies of an organization employed to meet them 2 TASK 23 2.1 How economic system allocate adequate resource effectively 3 2.2 Impact of fiscal and monetary policy on business 4 2.3 Impact of competition policy and regulatory mechanisms 4 3.1 Market structure impact on price and output decision 5 3.2 Market forces shapes the organizational structure 5 3.3 Business and cultural

BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 1 Task 11

   Added on 2019-12-03

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BUSINESSENVIRONMENT
BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 1 Task 11_1
TABLE OF CONTENTSINTRODUCTION......................................................................................................................1Task 1.........................................................................................................................................11.1 Purposes of different types of organization.....................................................................11.2 Extent to which organization meets objectives of stakeholders......................................21.3 Responsibilities and strategies of an organization employed to meet them....................2TASK 2......................................................................................................................................32.1 How economic system allocate resource effectively.......................................................32.2 Impact of fiscal and monetary policy on business...........................................................42.3 Impact of competition policy and regulatory mechanisms..............................................43.1 Market structure impact on price and output decision.....................................................53.2 Market forces shapes the organizational structure...........................................................53.3 Business and cultural environment shapes the organization............................................64.1 Significance of international trade to UK........................................................................64.2 Impact of global factors on UK organizations.................................................................74.3 Impact of EU policy on UK business..............................................................................8CONCLUSION..........................................................................................................................8REFERENCES.........................................................................................................................10
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INTRODUCTIONBusiness environment is the aggregate of all those factors which influence a businessinternally or externally. It includes analysis of mainly two factors i.e. internal and externalfactors. This report is going to depict the purpose of different types of organizations and theirresponsibilities and strategies. The report represents the way in which resources are allocatedeffectively by taking British Airways into consideration. This organization provides airlineservices internationally and has its presence at the global level. It was established by UnitedKingdom government in 1972 to manage the two nationalised airlines: British overseasairways corporation and British European airways.Task 11.1 Purposes of different types of organizationsThere are various types of organizations exist like partnership, sole proprietorship andnon-profit organizations. Different organizations have distinct purposes of working like someorganizations work for profit motive whereas others for non-profit motive. Product can bedeveloped or improved by taking feedback from consumers to increase the productivity(Dettwiler, Lindelöf, and et.al, 2006). There are different forms of organizations as detailedbelow: Partnership: Partnership is a relationship between two or more than two individualsto carry out a business. Its purpose is to benefit all the partners by its invested assets and tostrengthen the coordination and trust among partners. Non-profit organizations: NPO’s are those firms whose motive is to benefit thesociety. They may be in the form of trust, sport clubs, mutual societies and cooperativesocieties. Their purpose is to help and benefit the people. They do not aim at earning highprofits but they provide help to people and reinvest the profits to attain goals. Private organization: These are those organizations which are not owned andoperated by government. It works for the profit motive. British Airways falls under thecategory of private organization. BA is the second largest airline in UK and has the largestfleet size. By keeping in mind the mission and vision, company has accomplished theirobjectives like improving and innovating their way of working (Yu and Ramanathan, 2012).1.2 Extent to which organization meets the objectives of stakeholdersStakeholders may leave a huge impact on business. It includes employees,government, creditors and shareholders. The detailed analysis for stakeholders of BritishAirways is presented underneath: 1 | P a g e
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Employees: Employees are the most important assets of an organization. BritishAirways offers free uniforms, cafeteria and discount facilities to its employees. Even theyprovide incentives and promotions to motivate them. At the time of recruitment, more stressis laid on E.Q. rather than I.Q. It is assumed that a person with better EQ can adjust properlywith other employees. It can be therefore said that British Airways is effectively meeting theneeds of its employees. Shareholders: Shareholders are the real owners of organization. They invest in orderto earn attractive dividends. British Airways remains successful in providing proper dividendsto its shareholders. Even shareholders may apply for discount on airline flights. Shareholdersmay get discount of 10%. This in turn indicates that British Airways attempts to meet allkinds of requirements of shareholders. Customers: Customers simply want to get the best for what they have paid. BritishAirways take care of the customers’ needs and wants by providing quality services. Theyfocus on attracting the customers by providing various discounts and schemes. Moreover, theorganization adopts policy to refund money when flights get delayed (Murthy, 2014).Government: In every economy, government has adequate level of control in all thebusiness operations. As British Airways is a private company so, government does not havemuch involvement. However, organization needs to properly follow the rules and regulationsframed by government. They do not perform illegal practices. Mission, Vision and short-long term objectives of British AirwaysIts mission is to expand business and to enhance its brand value in different nations. Italso focuses on minimising the impact firm’s operations on environment like air pollutionand noise pollution.Its vision is to become the most responsible airline in the world and to provide thebest services to customers.Its short and long term objectives – Its short term objective is to bring improvementin the service provided. They focus to beat targets on punctuality.Its long term objective is to be the global premium airline in the whole world and tomeet the customer's needs and improve in customer services.1.3 Responsibilities and strategies of an organization employed to meet themBritish Airways has many responsibilities to be fulfilled so as to meet the objectivesof organization. They have to make everyone satisfied either it is shareholders or employees2 | P a g e
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