Contemporary Development in bBusiness and Management Assignment PDF
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Added on 2021-01-01
Contemporary Development in bBusiness and Management Assignment PDF
Added on 2021-01-01
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CONTEMPORARYDEVELOPMENTS INBUSINESS ANDMANAGEMENT
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................3Identification of primary influence to which British Airways is subject and analysing theimportance of each factor to organisation ..................................................................................3TASK 2............................................................................................................................................1(i) Corporate Social Responsibility and Sustainability ..............................................................1(ii) Critical evaluation of the effectiveness of the organization's response.................................2(iii) Areas of Improvement..........................................................................................................4CONCLUSION ...............................................................................................................................7
INTRODUCTION Business can be defined as an occupation which includes purchase and sale of goods orservices in exchange of money. Business management can be defined as an activity associatedwith running as well as administrating business activities. In present highly dynamic businessmanaging business has become as complex but crucial tasks. Managing company in systematicmanner is very much essential in order to maintain long term business sustainability in themarket. The changes in internal and external factors has direct effect on business operations. Italso has significant influence on the business decisions taken by management in an organisation.It is very much important for firms to develop business according to the recent trends in themarket, as failure to complying with the same can have adverse effect on the performance oforganisations. The report will emphasize on analysing the external factors which are influencing thebusiness operations of an enterprise in context of British Airways. It is basically a flag carrierairline in United Kingdom. Study will also have focus on evaluating the effectiveness ofresponse given by firm to changes in external factors. Report will also include the relevance andinfluence of corporate social responsibility on organisation.TASK 1 Identification of primary influence to which British Airways is subject and analysing theimportance of each factor to organisation British Airways is basically a second Largest airline in UK in terms of fleet size as wellas passengers carried. As British Airways is operating business at international level, changes inthe macro environmental factors can have great effect on the business operations of anenterprise. It can also have significant influence on the decisions taken by manager in anenterprise. PESTLE analysis is considered to be as an effective strategic technique which can beutilised by manager in British Airways for addressing those external variables which can effectits business. Some factors which can have impact on Business operations as well as managementdecision in British Airways are :Political FactorsAll the businesses requires to be regulated. The political stability is great strengths of thenation. Still, Brexit has made uncertainties and political debates. Similar, industry is subjective to
high regulations. These are helpful for the paths which are selected by the airline. The airportslots utilised, the fare that is set, the business partners which its performs with and infrastructurecosts paid. Governments of various nations all over the world put foreword many securitymeasures to conflict the risk of force and improper regulations immigrations. The politicalcondition and stability is extremely essential in determining the representation of destinations inareas which attracts travellers (Sammut‐Bonnici and Galea, 2015). The conflict, terrorism alsohave negative impact on growth of travel industry. There are certainly other elements involvingthe political unrest, strikes and travelling laws and regulations determined by the each state andareas government consultant. Some time, political instability can make negative publicity whichreasons an ineluctable reduction in tourist reaching. Travel and tourist brings investment in anynation, so that political instability will bring serious outcomes to the fun, comfort, safety andleisure of travellers. Economic FactorsIt involves inflation rate, currency exchange rates and whole economic climate in the UKwhich has direct and essential significances on the performance of the British Airways. The UKis the 5th biggest economy by nominal GDP in the world. Due to increasing the prices of oil andservices, exceeding fiscal situations faced by the UK and sickness of superior. Therefore,business travel is highly decreasing duet to these declines. The uncertainties in capital markets,eroding of household budgets, increasing unemployment and falling house prices which led tomajor drop in the airline industry and customer confidence (Bharwani and Mathews, 2012). Theairline industry has been considered as one of the best businesses in the world economically. Thefluctuation in currency rates among nations directly impact on marketing supplier ofinternational travel. The profits of airline business is driven by larger disposable income andmodification lifestyle of customers. In order to that, airline business has to keep in view statelaws while hiring and selecting employees. Social FactorsIt includes cultural, feelings, attitudes, values, level of education, consumer's lifestyle etc.The quality that has been controlled by the team of airline industry which has created thetravellers more inclined to the business. The creative culture introduced by travellers which hasattracted the consumers or travellers. The British airways must consider and respect social beliefs
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