logo

Recent developments in business and management of Walker Rubber and Plastics Ltd

   

Added on  2020-09-03

15 Pages4801 Words165 Views
Contemporary developments in business andmanagement

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................41. Influence of external forces on working of Walker Rubber and Plastics Ltd and importanceof each factor on the working of organisation........................................................................4TASK 2............................................................................................................................................82.1 Corporate Social responsibilities of Walker Rubber and Plastics Ltd. ...........................82.2 Evaluation of effectiveness of the response of Walker Rubber and Plastics Ltd to CSR102.3 Areas of improvement regarding Walker Rubber and Plastics Ltd...............................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTIONEvery organisation is working in a dynamic business environment in which large numberof factors affect the functions and operations of company. This will have both positive andnegative impact on the activities of company. This depends upon the management oforganisation to recognise the effect of such factors earlier and takes advantage by preparation offamiliar strategies. Main external factors which influence the working includes political,economic, social, technological, legal and environmental. If all these factors are in favour oforganisation then large number of benefits are derived in the future. Adoption of bettermarketing communication mix and CSR activities also help in the accomplishment oforganisational objectives and expansion of their business operations. Walker Rubber and PlasticsLtd is a manufacturing company which makes rubber and plastic products as well as seals andhoses for customers of Europe, Asia and America (Alvarez, 2016).In the present report, impact of external forces on the working of organisation and theirimportance on the functions and operations will be explained. Also, importance of marketingcommunication mix and their influence of policies and decision making power of managementof organisation will be discussed.

TASK 11. Influence of external forces on working of Walker Rubber and Plastics Ltd and importance ofeach factor on the working of organisation Walker Rubber and Plastics Ltd is a manufacturing company which makes the productsof rubber and plastic as well as seals and hoses. This company makes all kinds of rubber andplastic products which easily fitted on vehicles, earth moving equipment, domestic appliances,lightning and pumping systems, electronic control, aviation, motor sport etc. Diversifiedproducts and good quality provides an opportunity to capture a large market and increase theirprofitability. They also provide their products for the customers of Europe, Asia and America.Large number of factors are present in the business environment which affects businessoperations of Walker Rubber and Plastics Ltd. It is the duty of management of company toidentify such factors and make policies. In the process of identification of such factors and theirinfluence on the policies and decision making power, PESTLE analysis is needed to beconducted. This helps in determination of the impact of political, economic, social,technological, legal and environmental factors on company. Such identification helps inpreparation of the strategies and plans which work as a guidance for the employees and managerwhich are required to be adhered while performing their functions. This helps in improving theperformance of individuals and overall organisation. If such factors have positive impact on thebusiness operations of company, this helps in deriving a large number of benefits (Bromley andPowell, 2012). This will work as the growth factor for operations of company. External factorswhich influence the working of Walker Rubber and Plastics Ltd are defined as below: Political factors: Walker Rubber and Plastics Ltd is a large manufacturing companywhich provides their products in Europe and Asia also. Different countries have distinct politicalconditions with own regulations regarding operations of business activities. This will have ahuge impact on the business operations of company. The major factors which are included in thisare political stability, interference of government in rubber industry, legal framework for contractenforcement, intellectual property protection, favoured trading partners, pricing regulations,taxation regulations, industrial safety regulations, etc. All these factors affect the ability ofcompany in operations of their different functions and their growth in particular country wheresuch factors are present.

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Corporate Social Responsibility and Sustainability - A Survey
|12
|4265
|53

SIM337 Contemporary Developments in Business and Management
|16
|5375
|98

Contemporary Developments in Business & Management Assignment
|17
|5588
|33

Contemporary Developments In Business And Management
|14
|4358
|76

Contemporary Developments in Business& Management Assignment
|16
|5081
|36

Digital Marketing Report (Assessment 2)
|9
|2504
|91