Contemporary Developments In Business and Management.

Added on - 18 Dec 2019

  • 13

    pages

  • 5292

    words

  • 51

    views

  • 0

    downloads

Showing pages 4 of 13
Contemporary Developments In Business and Management1
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................3Brief overview of primary external influences to which Alpha is subjected and briefly explainingthe particular importance of each to company..................................................................................3TASK 2.................................................................................................................................................7Analyze the technology change to Alpha Manufacturing and determine how it influences policiesand decision making of the organization..........................................................................................7Critically evaluate the effectiveness of Alpha Manufacturing response...........................................8Demonstrate some areas for improvement in the response of Alpha Manufacturing.....................10CONCLUSION...................................................................................................................................11REFERENCES...................................................................................................................................122
INTRODUCTIONBusiness environment consists of factors like political, social, economic, technological, etc.that contain power to influence and control the business activities (Gutmann, Cantillo and Kappe,2015). These factors put positive and negative impacts on the business like; with the economicdownturn, it brings declination in the business capital and their investment. The result of this is thatmany large organizations have started terminating their employees to reduce the employment costs.Firms are starting the restructure their strategies, liquidate inventory, adopting eco-friendly conceptsetc. The internal environment of a business involves various factors such as human resourcerelation, structure of organization, policies and procedures, capabilities of employees, etc (Haynes,2014). The present research is based on contemporary developments in business and managementand to determine their significance, Alpha Manufacturing of UK has been taken into consideration.This company deals in manufacturing of metal sheets and other related products (About AlphaManufacturing, 2017). Objectives that will be highlight in the current research are externalinfluences to business, influence of policies and decision making on organization along with areasof improvement in the response of Alpha Manufacturing.TASK 1Brief overview of primary external influences to which Alpha is subjected and briefly explainingthe particular importance of each to companyThere are various external aspects which influence an organization in both positive andnegative manner (Sabio and et.al., 2015). These are very important for every type of industry and itsrelated companies. With the change in time, demand and needs of customers have also changed.Alpha Manufacturing has given a close look to this problem and tries to meet the demands ofmarketplace with advanced technologies, machines and equipment. Organization has supplied itsmetal products to its business clients and other customers. In this context, some external factorshave influenced the business operational activities (UK Manufacturing Statistics, 2017).Explanation of each element including their importance for the cited firm with the help ofPESTLEanalysisis as follows:Political factor: It is one of the elements which influence any business sector in many ways.This can be created either favourable or unfavourable situations for the organizations. UKgovernment has developed several policies for the manufacturing industry (Zhou and Pindiriri,2015). The reason behind taking this action is to minimize the gap between supply and demand ofservices and products. Formulated frameworks have supported the organizations of metal basedgoods manufacturing to maintain their maximum production capacities. Alpha Manufacturing firm3
has offered metal sheet fabrications services such as CNC Metal folding, Laser cutting, CNC MetalPunching, MIG Welding, CNC Metal Turning, TIG Welding and full Powder Coating plant. Thecited business produces and designs sheet metal work components and their assemblies (AboutAlpha Manufacturing, 2017). In this context, UK government has taken various actions in whichone of the most important is strengthening UK manufacturing supply chains. Administrativeauthorities have boost up the innovation capacity of supply chain function of metal manufacturingorganizations. They have also offered required capital equipment and amount to support the supplychain activities of firms. It has led Alpha Manufacturing and its similar kind of businesses tocombine innovation in product manufacturing process with business systems as well as procedure(Schmiedel, Vom Brocke and Recker, 2014). This has enhanced the productivity of supply chain ofcompanies which has created a good balance between the supply and demand of sheet metal workcomponents. Along with this, generated waste of metal during the production of products hasrecycled by combining with other materials (Strengthening UK manufacturing supply chains: Anaction plan for government and industry, 2015). So, such kind of initiatives by UK government hashelped Alpha Manufacturing organization to develop business in the nation.Economic factor: At the time of find out current and expected future value of a business orinvestment related decisions, an organization should consider various economic factors. These aretaxes, cost of labour, government policies, interest rates, management, etc (Singh, 2013).Manufacturer of fabricated metal products industry has played an essential role in the developmentof economy of UK. This business sector has accountable for the production of wide range ofproducts such as steel beams, trusses, purlins and brackets. Fabricated metal products have useddiverse range of applications such as making tourist cabins, classrooms, etc. The best example canbe seen in Olympic venues where fabricated metal products have been used for the construction ofsite offices and public toilets. It is expecting that manufacturer of fabricated metal goods industrywell generate £6.1 billion revenue in 2017 although it has declined with 3.5% in 2016 (Orozco,Tarhini and Tarhini, 2015). The reason of decrease in percentage of revenue amount year by year isdeclining the demand of metal based fabricated products among customers. Along with this, limitedavailability of raw materials and production costs have increased the prices of final goods. It hasdiminished the interest of end users to purchase them. But to decrease the final prices of fabricatedmetal products, companies in this industry have increased their investment and use the automotivemachines as well as other process to bring reduction in the cost. On the other hand, because ofglobalization, interactions between countries have increased and it has allowed them to better accessof materials (Joshi, 2016). Different taxation policies have been developed by both national andinternational government. This has affected the payment system of Alpha Manufacturing and other4