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Contemporary Developments in Business Management

   

Added on  2020-06-05

14 Pages4430 Words52 Views
FinanceEconomics
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CONTEMPORARYDEVELOPMENTS INBUSINESS MANAGEMENT
Contemporary Developments in Business Management_1

Table of ContentsINTRODUCTION..........................................................................................................................1TASK 1............................................................................................................................................11.1 Primary external influences to the corporation and its importance.......................................1Porter's five forces model...........................................................................................................3TASK 2............................................................................................................................................42.1 Relevance of globalisation and its influences over policy and decision making..................4Impact of globalisation and Guarded globalisation on SSE plc..................................................4Influence over policies and decision making..............................................................................52.2 Effectiveness of organisational response..............................................................................62.3 Areas of improvement...........................................................................................................7CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10Online........................................................................................................................................11
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INTRODUCTIONManagement is playing a vital role for each and every enterprise as this determines their aimsand objectives, assist in planning and controlling of various functions, etc. So, it is veryimportant for maintaining improvements in the management of business (Bratt and Reardon,2013). The present report is based on the contemporary developments in business managementof SSE plc. In this project, the external factors that are impacting the working of corporation isdiscussed such as political, economical, social, technological, environmental and legal factors. TASK 11.1 Primary external influences to the corporation and its importanceSSE plc is one the leading electric supplier of United Kingdom that is dominating a vastmarket of energy from a long period of time. It is also engaged in generating and supplying ofelectricity and gas. Company is getting impacted by different external factors. Here theirimportance is explained. This is done by doing PESTLE analysis which is described as follow:Political impacts: SSE plc is which is second largest power energy generating companyis working under regular political influences. Local government is impacting to its vastand large cycle of business. Government is changing its decision by making modificationin the taxation policies, trading and traffic policies. This gives a larger impact on thebusiness and strategies of the enterprise. Corporation is developing recently Fiddler'sFerry power station that is giving great effort in the electric energy of United Kingdom.This assist the UK government very much in enhancing their electric energy by means ofextra power. They are also concerning about the impact of the government and also fromthe influence of local politician as they have declared stop to their three units ofelectricity for various reasons (Causevic, Sundmark and Punnekkat, 2010). Most of theinvestors or stakeholders are investing in the firm as they wants about its success and tonational power system as this is making government aware about the ability andinfluences of SSE in the regional market. As it is a starring electric power energycompany which is assisting the people and government of UK in enhancing the power orexploding the light of electricity through out the nation at long extent, so government ofUK is helping this enterprise.1
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Economic influences: SSE has decided to sell its half of the holdings to a Scottish windcompany in order to make major holding of the enterprise more progressive andvaluable . They are doing so to find the additional benefits as well as achieving theexcellency in energy market of not only United Kingdom but the whole world. Economyof EU as well as the western world's economy has freshly went through a large criticalmoment in the history of economic. This is because Euro has progressively loosing theprices of its in comparison to dollar and other monetary system of the globe by means ofits crisis in Greece and some of the nations of United Kingdom. Bank of England, EUbank and the world bank are showing their strong attitudes in order to determine the sumof loan for the business company of the whole globe (Coetzee, 2014).For this, SSE plc is also concerning about investing in various other power station of UKand they also have to keep repair or maintenance in providing the sum of wages of their largenumber of workers through UK. SSE plc are contributing a lot in the economical situations ofUK in different ways such as creating new power stations, developing fresh electric equipmentsand goods for the power market of UK. More than 1900 people of UK are engaged with thecompany as their employers and from this it can be concluded that company is creating a greateconomical stableness through the UK and by this they are helping government of UK in takingother decisions related to economy.Sociological influences: SSE is one of the major and most prestigious and significantelectric provider and allocator of electric products of UK. This is holding second positionin the market of energy. The enterprise has large number of consumers, suppliers,investors, workers and other partners of UK and they all are related to the firm eitherdirectly or indirectly. The corporation is facing a lots of social demands and stress onthem due to their large size of business (Dann, 2010). Company is concerning aboutkeeping heritage site of UK in relation to negative influence of power station ofelectricity and electric goods as people living in society has soft mind regarding thebeautification of the heritage sites of nation. Recently, venture is decided to declarereward for skilled workers who are concerning about the wellness of society.Technological influences: Company is keeping their regular engagement with the latestor updated technology of the modern science by the means of their involvement with thatat regular basis. Activities of firm required to be more technical as they are working with2
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