Business Environment European Union
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Added on 2019-12-03
Business Environment European Union
Added on 2019-12-03
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Business Environment
TABLE OF CONTENTSINTRODUCTION................................................................................................................................1TASK 1.................................................................................................................................................11.1 Purposes of different organisations............................................................................................11.2 Key stakeholders of the BA.......................................................................................................21.3 Responsibilities of an organization and strategies employed to meet them..............................32.1 Impact of economic systems in resource allocation..................................................................42.2 Impact of fiscal and monetary policies on business organisation and its activities...................52.3 Impact of competition policy and other regulatory mechanism................................................6TASK 2.................................................................................................................................................73.1 Role of market structure in determining pricing and output decision of company...................73.2 Ways through which market forces shape organizational responses ........................................73.3 Business and cultural environments impact on shape the behaviour of the BA........................84.1 Significance of international trade to UK business organizations...........................................104.2 Impact of global factors on UK business organisations...........................................................114.3 Impact of policies of European Union on UK Business Company.........................................11CONCLUSION..................................................................................................................................12REFERENCES...................................................................................................................................13
INTRODUCTIONBusiness environment is all about circumstances in which organisation operate its operations. Itis necessary for every organisation to have focus on internal and external environmental factors toenhance business opportunities. Business environment considers number of factors which can impactthe operations of organisation (Binh and et. al., 2010). The factors can be classified as a group,resources, media, government, legislation, economic conditions and culture. In this report the learning will focus on operations and culture of British airways in order tounderstand the business environment. It will focus on various organisational purposes that have impacton business. It will also provide information about nature of national environment in which Britishairways is operating its business. It will also focus on behaviour of various organisations which areoperating its business in the same market environment. Furthermore, it also emphasizes on significanceof the global factors that shape national business activities. TASK 11.1 Purposes of different organisationsIt has been spotted that, there are diverse sorts of organisations which are operating in currentmarket scenario. The classification of organisations can be as international organisation, non profitorganisation, partnership, governmental, etc. Every organisation has different purpose that coversdiverse mission and vision. Private organisation: British Airways operates its business in diverse nations with a purpose tooffer the best class airline services to customers and to earn more profit as an outcome (Greenwood,2010). Organization’s mission is “one destination seeks to ensure that customers are getting impressiveflying experience. On the other side, vision is “to have improved focus on responsibilities towardsworld so that market needs can be accomplished”. Company offer its services to satisfy needs ofcustomers and generate more income. Company is also termed as private organisation that generates itsincome for the owners, investors and employees.Non governmental organization:Other than this, Red Cross is a non profit organisation thatprovides number of health care services with an aim to amend the health conditions of people. It alsorefers as a charitable organisation which consists of 25000 volunteers (Malhotra, 2010). Organisationoperates in both international market as well as local market. The social group is committed to provideservices to public by considering religion, nationality, ethnicity and political aspects. These kinds oforganisations are flexible in adopting local culture which boosts the effectiveness of work culture.Organisations are capable to communicate with all levels from neighbourhood to top level ofgovernance. Key disadvantage is that it holds paternalistic attitude which restrict the level of1
participation in project design.Public service organization: Furthermore, the government organisation means firm in whichoperational power is held by governance authorities. British Broadcast Corporation is subsidiary of UKgovernance that looks for activities which can control the media sector (Reese, 2003). The key aim oforganisation is to control behaviour of media and to provide correct information to public aboutvarious subjects.The key benefit is that it evaluates essential services and shares its profit with allpublic ownership members. On the other side, the disadvantage is that it have inefficiency outcome asside effect of size of organisation. Sole trader: It is one of business structure in which one person have all control on theoperational activities. The decisions are made by him with consult of any other member in order toexplain the key aspects of organisation. Profit margin share is also shared between all members. It canbe local shop corner who operate business in UK. In this, less time pressure is there which increasesthe flexibility. There is always one to whom business can consult while taking decisions. The keydisadvantage is that it have unlimited liability. 1.2 Key stakeholders of the BALong term goals:To expand its business in global market with providing services to all leisure and businesstravellers. To provide premium services so that passengers can receive high quality of services.To have advancement in products and services that relates with aviation sector. There are number of stakeholders of BA that can impact the business operations so it isnecessary for the organisation to meet the expectations of all stakeholders. The classification ofstakeholders can be as follows:Internal stakeholderOwners: It is one of most essential person in the organisation and his key expectation is theadvancement in profit margin ratio. In this respect, it is necessary for the management of BA to providedetailed explanation of various factors and to ensure that the firm is having advancement in its salesratio. It also provides proper information to owner regarding various subjects and operational activities(Wellington, 2000). Employees: It is necessary for the management to make sure that the company is meeting theexpectations of employees by providing them with a safe and secure work culture (Jennings, 2010).Company also make sure that all employees are taking part in decision making process and they feelmotivated while performing task within the organisation. Some time BA faces issues in effective2
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