Contemporary Business Environment: Analysis of Bullitt Group Ltd

Contemporary Business
Environment

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Business Environment and Micro Economic concepts and models............................................1
Examining the ways and reasons Mobile Phone company needs to audit their External and
Internal Business Environments..................................................................................................5
Insights about Micro Economic environment within business....................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Contemporary Business Environment is the vast area where organizations face the huge
competition in the market. Contemporary refer to the same time period where business perform
their duties in order to achieve organizational goals & objectives. In the business environment,
there are various factors which impact demand as well as supply of the company (Boone and
et.al., 2019). There are various internal as well as external factors which impact the organization
in terms of productivity or profitability. In order to gain competitive advantage this report selects
the Bullitt Group Ltd. It is the mobile phone manufacturing company which deals in consumer
electronic items. Company founded in 2009 by various people and they sell their phones and
other electronic items across 75 countries. This project report based on various topics such as
generates understanding on the internal environment and its interaction with external
environment. In addition, it includes the examination of economic environment within the
business which operated in the UK.
MAIN BODY
Business Environment and Micro Economic concepts and models
Background of the company:
Bullitt Group Ltd is UK based mobile phone manufacturing company which deals
internationally. Company established in 2009 by various people such as Colin Batt, David Floyd
and Richard Wharton. Bullitt Group Ltd design, markets, sell consumer electronics or
manufactures in partnership with global brands (Bullitt Group Ltd. 2019). Organization has
worldwide licence Caterpillar Inc. and outdoor orientation consumer’s electronics for Land
Rover.
Business environment:
It is a collection of internal as well as external factors which affect the organization and
managers have too sure before developing any strategy because it can positivity or negatively
impact the profit margin of the company. These external or external factors includes like
customer needs, employees satisfaction, expectation of consumers, demand & supply of goods,
suppliers, government etc. These factors impact the decision making process of the company
which automatically affect the production as well as profitability of the company (Choo, 2013).
Not only have these factors, various events or market situation also affected the business
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environment. In context of Bullitt Group Ltd, managers have to analyse the whole business
environment in order to identify the factors which can generate opportunity as well as threat for
the organization. So before making any strategic decisions managers have to analyse all the
external or internal factors and implement in well manner to achieve business goal & objectives.
Internal business environment: It includes the various factors which affect the business
operations as well as overall performance of the company. Such as employees performance,
management, working culture, employees behaviour etc. In the organizational context, managers
have to adopt various management practices and leadership styles in order to maximise the
individual performance or satisfy them, so they can perform well or achieve organizational goals
& objectives. In context to Bullitt Group Ltd, internal environment elements such as work
culture, shareholders or owners, business goodwill and resources. Owners and top authority
people have power to make policy as well as modify as per the requirement of business
operations. Employees are the another key element where they have to perform as per the
management guidelines, so managers of Bullitt Group Ltd need to ensure that workers are
satisfied with their work because it furthest improve their performance which increase the
productivity as well. Along with this, if any employee lack in any area so they managers have to
identify the weakness and provide necessary training & development program in order to
enhance their skills which improve the overall performance. If organization not focus on these
elements then furthers it negatively affect the production or reduce the profit margin as well.
Another factor is working culture which needs to be friendly otherwise people not feel
comfortable in the workplace which directly influence their work or reduce the productivity as
well (Dominici, 2019). Managers of Bullitt Group Ltd also focus on infrastructure such as office
buildings, machinery for the production of mobile phones, warehouses to store raw material etc.
At the end, managers have to evaluate all these internal factors before making any strategy or
decisions in respect of the organization. They have to evaluate the requirement of financial
resources in order to complete each business task, so they have to provide necessary funds for
the functioning of business operations.
External business environment: It included all the factors which are related to the
outside of the business which influence or impact the business operations. External factors also
break down into two categories such as macro or micro environment. In context of Bullitt Group
Ltd which deals in electronic market so they have to evaluate those external factors which impact
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