Contemporary Developments in Business and Management Assignment - BMW
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Added on 2020-10-22
Contemporary Developments in Business and Management Assignment - BMW
Added on 2020-10-22
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Contemporary Developments inBusiness and Management
EXECUTIVE SUMMARYThis report will describe the contemporary developments in business of BMW which canlead company to deliver great experience to its customers. This assignment is designed to focuson external environment and its impact on business doings and deeds of a company. Over theyears, automotive companies have used technology at vast level to produce or manufacture carsand bikes considering high speed and made cars much more fuel efficient. Both technologicaldisruption and disruptiveinnovation impacted positively on production process of BMW and hashelped them in building cars and bikes with an ease.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Influence of external factors on working of company and significance of each element onbusiness activities...................................................................................................................1TASK 2............................................................................................................................................5Influence of policies and decision-making within BMW.......................................................5Critically evaluate the effectiveness of BMW's response......................................................7Areas for improvement in the response of BMW..................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11APPENDICES...............................................................................................................................122
INTRODUCTIONContemporary developments within an organisation can lead firm to improve itsperformance and raise benefits. On behalf of this, business environment plays a crucial role forevery single business which consist with both internal and external factors that can impact uponoperations and decision-making process as well (Baillie Smith and Laurie, 2011). It is essentialfor the organisation to analyse both macro and micro environment that may help in taking rightdecisions for the company. Modern environment, in which organisations produces quality basedproducts and offering it with affordable prices cannot be considered as enough for this firm but itis also essential for firms to participate in various activities as well. Famous manufacturer ofmotor vehicles has been taken in this report i.e. BMW which was found in the year of 1916 byKarl Rapp. On the other hand, assignment is going to be enclosed with Influence of externalfactors on working of BMW and significance of each element on business activities of thisorganisation. Assessment have also kept its focus on influence of policies and decision-makingwithin BMW, critical evaluation of the effectiveness of BMW'response and lastly, report willshow areasforimprovementinBMW.TASK 1Influence of external factors on working of company and significance of each element onbusiness activitiesWorld's famous multinational manufacturing brand BMW was found in the year of 1916by Karl Rapp. Company's headquarter is in Munich, Bavaria and doing business worldwide.United Kingdom, US, South Africa, China, Brazil, India are some of main countries in whichorganisation is mostly doing business and selling its manufactured cars. Around 130,000employees are performing their tasks on a regular basis which is helping BMW in offering rightcars to correct consumers (Bučiūnienė and Kazlauskaitė, 2012). Since, BMW is doing businessat international level. Thus, it can be said that external environment can affect business of BMWin both positive and negative manner because every nation in which BMW has its presenceconsist with different governmental policies, tax rates, technology, economy and many moreothers. In order to get deep knowledge related to impact of external factors on business of BMW,PESTLE Analysis of BMW and importance for every single factor is being done beneath: PESTLE Analysis1
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