Contemporary Developments in Business and Management

Euro Car Parts Ltd offers garage equipments, auto parts, car accessories, body or exhaust system and air-conditioning accessories. Euro Car Parts Ltd provides services parts in a very affordable prices and also offers free delivery service across the entire UK. The micro environment factors includes economic, social, political, technological, environmental and legal factor.

Contemporary Developments in Business
and Management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................2
TASK 1:...........................................................................................................................................2
TASK 2:...........................................................................................................................................5
A. Theme:....................................................................................................................................5
B. Effectiveness of the organization:...........................................................................................7
C. Areas of improvement:............................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES:.............................................................................................................................10

INTRODUCTION
Contemporary developments in business and management includes contemporary world
of business and management and globalization. Contemporary development improves the global
business environmental and also enhance globalization of markets and industries. It solves the
business internationalization errors and positively affects the economic, legal, social and
political environmental. Contemporary developments in business and management influences the
international financial markets and institutions. It helps in technological changes for business
growth and also helps in solving environmental and socio-cultural issues. Contemporary
developments ensures the current and future developments in business and management. This
report will include, Wholesale and retail trade and repair of motor vehicles and motorcycles G45
is the UK has grown quickly over the five years. At the beginning of period, Improved economic
conditions in UK increase the demand for motorcars. Low fuel prices in United Kingdom also
encourages operators for public transport. Euro Car Parts Ltd. is a retailer of automotive parts,
car parts and accessories. Euro Car Part Ltd offers garage equipments, auto parts, car accessories,
body or exhaust system and air-conditioning accessories. It is the UK's most famous company
for supplier of car parts. This company has two hundred branches across the UK and Ireland.
Euro car parts ltd has sixteen distribution branches across the UK. This company also a great
storage facility in Staffordshire. Euro Car Parts provides services parts in a very affordable prices
and also offers free delivery service across the entire UK. This company deals in all the
important car parts such as brake pads, bulbs, batteries, blades. This also offers online order
services to all the major essentials for car maintenance like car fluids and engine oil.
Impact of external business environmental factors on the Euro Car Parts Ltd.
This report will include the impact of external business environmental elements on the
Euro Car Parts Ltd (Grill, 2019). External environmental factors includes the outside influences or
elements that impact on operations of business. These environmental factors have two types such
as the micro environment and the macro environment. The micro environment factors directly
affects the company's operations and its includes customers, suppliers, financiers, public
perceptions and marketing intermediaries. The micro environment factors includes economic,
social, political, technological, environmental and legal factor. On these factors organizations has
no control. External factors can have affects capabilities of an organization to achieve its
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objectives and goals (Dunne and et.al., 2016). This report will also highlight the external
influences on the organization and its importances.
MAIN BODY
TASK 1:
External influences of the Euro Car Parts Ltd.-
The success or growth of a organization fully depends on its power to adapt. PESTEL
analysis is a important tool to analyse the effects of macro environment factors on the
organization. PESTEL includes Political, Economic, Social, Technological, Environmental and
Legal factors that directly affects the macro environment of Euro Car Parts Ltd and its
operations. Company has no control on these factors and have an large impact (Jayaweera, 2015).
PESTEL analysis generates great details about External influences of the Euro Car Parts Ltd.
Political factors in UK that impact Euro car parts industry-
Political factors plays a vital role in analysing the elements that can largely impact
company's long term profitability and operations in UK or its market. Euro car parts Ltd retails in
car parts, accessories and all automotive parts in various countries and operates in different-
different political environment and faces several political system risks. There are many political
factors in UK that impact Euro car parts Ltd. Company. UK's political stability enhance the work
sustainability of the company. The importance or large necessity of automotive parts in the UK's
economy can also improve productivity in an organization.
UK regulates many rules and regulation for automotive service industries and level of
corruption influences the company's security. Anti-trust law in the UK also protect the auto parts
industries (Shin and Konrad, 2017). UK also regulates trade regulations and tariffs for auto parts
services sector. UK's government focus on industrial safety regulations and also promotes
product labelling in automotive parts, that will increase trust of consumers on organization. UK
Taxation laws and wage regulation in auto parts industry affects the production and growth rate
of Euro car parts Ltd. Government of UK also installed Bureaucracy and interference in
automotive parts companies.
Economic factors in UK that impact Euro car parts industry-
Economic factors include interest rates, long term trends of economy with market
fluctuations, inflation rates, customer or end user drivers, competition, market distribution and
routes, technology costs, taxation issues etc. Euro car parts Ltd. Can use UK's economy factors
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economy growth rate and inflation rate to forecast the development of a company. UK has
unique types of economic system of operations and its stability impact Company's operational
activities. Exchange rates in UK and stability of its currency also influences the company's
margin. Efficiency of financial markets in UK can reflect the needs of Euro car parts
organization to raise capital in market (Gutierrez, Boukrami and Lumsden, 2015). Infrastructure
quality in wholesale and retail trade and repair of the motor vehicle and motorcycles industry
also attracts large consumers. UK's government intervention in the country market and Euro car
parts Lt d's services. Labour costs in UK and their productivity directly affects organization's
growth.
Social factors in UK that impact Euro car parts industry-
The priorities and attitudes of populations in UK and the social structures of society will
have a large impact on Euro car part Ltd. Shared priorities and beliefs of the individual citizens
plays an important role in how company's marketers will recognize the customers of current
market. And plays an essential role in designing marketing strategies for Euro car parts Ltd.
Education standards in the country will decides the motor car and motorcycles features
understanding. People's age gaps in UK fluctuates company's demand. UK's attitudes towards
environment consciousness and health will promote company's health safety regulations.
Different types of Cultures in the society largely give its impact on organization's production
process and trend acceptance.
Technological factors in UK that impact Euro car parts industry-
Technology in automation parts industry is developing increasingly. In the UK it has
been promoting really fast. Various industries are quick moving towards new technologies for
fast processing (Dey, Bhattacharya and Clegg, 2015). Some technologies disrupt industries
performances and negatively influences it. UK's technologies have various impacts on Euro car
parts Ltd. Several new technological developments by competitors of Euro car parts Ltd. can
impact company's productivity. Technology can impact on product offering. Technology can
influence or differ the cost structure in automotive parts industry. Technological diffusion's rate
can also affect company's operations.
Environmental factors in UK that impact Euro car parts industry-
Various environmental standards or market norms can deeply affects the organization's
profit in that market. UK has environmental and liability laws that can impact its local industries
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and its market. Rules and regulations regarding environment protection in UK are very strict.
All auto parts stores industry or automotive parts industry have to follow these regulations in a
very effective way. UK's climate and weather also distract the Euro car parts Ltd company's
operational and functional activities. UK also promotes water and air pollution regulations in
these type of industries to control pollution and make the environment healthy (Leigh and Li,
2015). UK also focus on Waste management and recycling activities in automotive industries. If
the country has an great attitude towards ecological products than industry have to follow this.
Legal factors in UK that impact Euro car parts industry-
UK has a specified legal framework and institutions that will affects legal activities of an
organization. UK has a anti-trust law related to automotive parts or auto parts stores industry.
Patent, copyright, trade mark and intellectual property right law also affects the Euro car parts
Ltd in various legal suits. UK also supports consumer protection and e-commerce facility. Health
and safety law, employment law, data protection and discrimination law can also influence the
operational activities of organization.
Importance of this external influences-
External factors plays an essential role in organization to achieve its strategic goals and
objectives. It is very important for creating a big future of businesses and entire automotive parts
industries. To stand against the competitors in market, organization should prepare their
strategies according to external environment in which they are operating their businesses.
External factors can directly affects organizational planning (Brautzsch and Holtemöller, 2019). For
the great development of your business, company should have to regularly monitor the external
factors that can affect your activities. It has positively impact on the working of the organization
because it helps in identify all external elements that are situated in environment. External
factors will importantly influence the growth of a auto parts industry and also helps in its
survival. It can assists in business's decision-making process. By analysis external factors a
person makes good business plan and apply accordingly. External factors assists in promotion f
business success in a next level. Technology provides internet facility and internet has changed
all business's working style in a very efficient way. Social factor provides the knowledge
regarding different trends and customers desires and its beneficial for company to produce
products accordingly.
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For making the effective business plan, external analysis plays a vital role. New laws
related to protection from pollution and sexual harassment have a immense impact on operation's
of business. By analysis of external factors, company will updated about all Government rules
and regulations regarding their product. This is very useful for organization because by which
company follow and apply all regulation and conduct all operational activities in a systematic
way. It is very useful for making the previous strategy for business. External analysis provides
the full information about business environment and its effects. It can also helps in recognising
the issues that wants attention in the work process. PESTEL analysis provides a big help to guide
the company's leaders and managers in business strategies. External analysis is a great formula
for success of an organization ((Gutierrez, Boukrami and Lumsden, 2015)). This analysis show you
all the troubles or errors that can be appeared in future and also provides the necessary tools for
removing such types of threats. It generates a perfect solution to prevent various social, legal,
economic, technological and environmental issues. It has a great impact on the organization's
work performances and also influence the work ability of workforce. It provides a trustable path
to gain business's goals clearly.
TASK 2:
A. Theme:
Corporate social responsibilities and sustainability is the concept of the management in
which organization focus on the environmental and social aspects in the working operations of
their business and maintains the interaction to the stakeholders. Both the concept shows that the
responsibility of the company towards the society along with the practises are sustainable.
Corporate social responsibility defines that the company could try to maintain and manage the
economic, social and environmental balances. The approach of sustainability in the company is
used to achieve the long term values of social, environmental and economic issues. Under this
approach the company also identify the shareholder and stakeholders expectations (Esteban,
Villardón and Sanchez, 2017). The Euro Car Parts Ltd follows both the approach for applying the
concept of the strategic business management. Corporate social responsibilities approach in the
Euro Car Parts Ltd enhance them to contribute towards in the reduction in the poverty line and
this will result in reputation of the company and its brand.
The Euro Car Parts Ltd try to achieve the different environmental and social issues. The
concept of corporate social responsibilities implemented properly then it will give various
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advantages to the euro cars parts Ltd such as it will increase the profits and sales, reduce in the
operational cost, improves the productivity. Euro cars parts Ltd uses the concept of corporate
social responsibilities to improves the image and reputation of their brand and products. These
approaches will improves the decision-making of the euro cars parts Ltd by their proper
involvement in the environmental factors (Haski-Leventhal and Concato, 2016). The corporate
social responsibilities and sustainability helps to improve the policies of the company which
could lead to the success and growth of the business.
These approaches helped the euro cars parts Ltd to increase their profits by providing
valuable products according to the social and environmental wants of the customer. The
responsibility of the euro cars parts Ltd is to make the proper decision for their business
according to the long term social and environmental benefits (Coombs, 2017). Sustainability bring
transformation and development of the euro cars parts and achieve long term value of the
business. The corporate social responsibilities and sustainability maintain and manages the good
relations with the shareholder and stakeholders of the company. The policies of the euro cars
parts Ltd are affected by these approaches in the social, economic and environmental changes.
The policies are to provide good products and services, minimum use of the products
which affects environment negatively, products will be beneficial for nature as well as for
customer. Production policy involves to produce the long term valuable products for the
customer of the euro car parts. The euro cars parts Ltd focuses on both responsibilities and
sustainability towards the business. The proper relations is to maintained by the company
between the customer, investors suppliers public and the officials of the government. Corporate
social responsibilities are required for the transformation and expand the to globally and
nationally. Euro car parts developed various strategies and polices of the business to fulfil the
needs of the social needs, natural environment and the business needs. It is the important features
for the business to understand the society and to identify the ethics of the business, social
performance of the business, citizenship of the business globally (Chatzoglou, and et.al., 2015).
Euro cars parts Ltd identifies the critical issues of the business in the society such as rights of the
human, protection towards the environment, opportunities are equal to all, competition must be
fair and maintain the interdependence between the society and the business.
The Euro Car Parts Ltd make the organizational policies and rules to cover these above
issues to achieve the success and growth of the business globally. The Euro Car Parts Ltd takes
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the responsibilities for their operations in the business impact on the society and the
environment. Corporate social responsibility and sustainability is very necessary for expanding
and improving the strategies of the business towards the social, economic and environmental
changes.
B. Effectiveness of the organization:
Corporate social responsibilities gives various advantages to the organization in many
ways like it reduces the opportunities cost of the company, it will help in to maintain good
relations with their customer, identify the proper areas where company increase the value for
long term, reduces the management of the risk in the business, it will help to build the loyalty
and trust of the customer (Mehta, 2016). The organization with the social responsibilities creates
the better and attractive image of their brand and business to shareholder and consumer both. In
the Euro car parts Ltd achieves the sustainability by the efforts of the employees so this will
increase their morale of the employees and increase the productivity of the business.
It saves the cost of the company by minimizing the waste use of resources. It will protect
the environment and saves the money of the company. Working of euro car parts saves their
business money along with the protection towards the environment.
It also gives different opportunities to the organization to developing and transforming their
products and services to increase their profitability in the business market. Development of the
products as per the social and environmental needs and wants may help the businessman to
expand their business globally. Responsible businessman improves the performance of the
company also that they will stand in the global market (Fontana, 2017). The sustainability and the
social responsibilities helps to find the difference with the competitors. The reputation of the
business should be improved with responsible business towards the so0cial, economic and
environmental.
The corporate social responsibilities is used in the business to accomplish the internal and
external objectives of the business. Impact of sustainability and responsibilities is to measure the
activities and working of the business in the social, economic, and environment. Companies get
the reports of the corporate social responsibilities that will improve their working operations of
the business and minimize the energy. From the external point of view a company could get the
benefits of CSR and sustainability by involving with the parties who are interested.
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CSR and sustainability helps the stakeholders that they will ensure that the successful
business will try to reduce the negative impact of the environment on the business and aims to
increase their profits for both the investors and mangers. Euro cars and parts ltd makes the
business profitable and sustainable by ensuring that they company will not harm the environment
and cannot be affected by the environmental hazardous. Sustainability helps the euro cars parts
Ltd to maintain long term business in the future. Euro cars parts Ltd gives focus to the rights of
the human, environment, social and government so that they could achieve the success and
growth without and interruptions (Zhou, Luo and Tang, 2018). The corporate and sustainability
reducers the cost of the operations in the business of the euro cars parts Ltd for getting the larger
and effective management of the resource beyond the whole chain of the supply.
C. Areas of improvement:
An organization improves various areas under the customer social responsibilities and
sustainability for the success and growth.
 By giving proper education and training to the employees of the company that
they work to minimize the use hazardous products to the environment.
 Company makes the products and services as per the needs and wants of the
social and environmental factors in the economy. The better products and
services will attract the greater quantity of customer for their products.
 Company focuses on the maximum use of the renewable resources rather than of
non-renewable resources.
 Proper and efficient implementation and utilization of the strategies of the
sustainability in the business for the success and growth in the global market of
the business.
 Company try to improve the production strategy with minimum uses of the
products which is harmful for the environment.
 It will try to maintain and improves the long term image and reputation of the
company after analysing the corporate social reports and sustainability.
 The internal working conditions of an organization will also have to improved by
the responsible business towards the economic, social and environmental factors
 Marketing strategies and the policies is also had be improved and transform to
for increasing the sale of the products and services of the company.
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 Training and development of the employees and the workers is necessary so that
they make sure about the environmental and social issue while working in the
organizations
 Relation with the shareholders and stakeholders should be improved for better
success and growth of the business in the future (Čarnogurský, and et.al., 2015).
Euro car parts Ltd make sure to maintain the good relations with customers,
investors, suppliers etc. to enhance their business globally.
 Euro car parts Ltd makes the policies and strategies to improve and develop the
products of the cars that car will run smoothly without giving any harm to the
environment and nature.
 Improve the strategies to reduces the risk of the business by the environment
hazardous and social issues taken the euro car parts Ltd
CONCLUSION
From the above study it can be concluded that the corporate social responsibility and
sustainability have the greater impact on the business operation by focusing on the economic,
social and environment. All the companies are responsible for the impact of their business
operation on the society and environment. Sustainability helps to maintain the long term business
of the company. Benefits of sustainability and the corporate social responsibilities is to business
is that it will reduce the opportunity cost, decrease the risk of the company and maintain the good
and improved relations with their customers. These approaches will reduces the poverty line in
the economy and it will improve the image and reputation of the business towards the public.
With the sustainability the company will identify the aspects in which company gets the long
term value. It is the company role to maintain the sustainable development and balance the
progress of the social economic and environment. Implementation of the strategies and process
with the aim to increase the success and growth of the organization.
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