Contemporary Development in Business and Management : Assignment
Added on -2020-07-23
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Contemporary Development inBusiness and Management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Political and Legal Influence......................................................................................................1Socio Cultural Impact:-...............................................................................................................3Economical Influences................................................................................................................3Technological Influences............................................................................................................3Economic Influences...................................................................................................................4TASK 2............................................................................................................................................51) Ethics and CSR of Lloyds Bank company and influence on policies and decision making.52) Effectiveness of the organization's response..........................................................................73) Areas improved as a response...............................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12.......................................................................................................................................................13
INTRODUCTIONManagement is one of the important for every business organization in order toevaluating the organizational goals and objectives. In today's modern era, contemporarydevelopment is more effective which define the overall growth on which take place in business.It play crucial role because it promote all the organizational activities which leads in attainingmore profitability in appropriate manner (Huggins and Thompson, 2017). In this aspect companyuse new and innovative technologies for making as well as producing quality services to theircustomers in order to achieve their satisfaction. In this context, it made by two words likecontemporary define present time and development define the effective growth. So that it isrelated with the current growth of the business and organization at market place. TASK 1Any enterprise operate their business in the micro environment which affect by theexternal influence. It directly impact on the decision making process of the company and itsoperational activities. On the other hand company dealing with the unfolding domestically. Itinclude banks such as Lloyds Bank company. It is popular and multinational bank which providefinance and also take decision against the global influence. So that it is more important toevaluated that this bank have capability to formulate all the strategies in systematic manner andalso define the better response of the forces in most effective manner.Political and Legal InfluenceIt is more important for all the company to follow local laws and regulations but on theother side, multinational and international company have to continue as well as follow all thelaws of their countries at the time of operating their operational activities in effective manner. Sothat all the laws related with the accessibility of the market, goods pricing, cost of manufacturingprocess. It include quality raw material and labour. In this process management of workforce isalso play important role which covers financial elements such as labour, banking laws. Alongwith this marketing tools is also related with the effective advertising, protection of theconsumers and development of technology (Reynolds, 2017). In Lloyds Bank company context,environment of the business largely affect the nation in which they execute their operationalactivities. In this aspect UK is an open country in which consider the foreign direct investment.This nation have their free market economy in which government define their less control over1
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