Contemporary Developments in Business &Management Assignment

Added on - 06 Jun 2020

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Contemporary Developmentsin Business and Management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Primary external influences on the organisation and its effect on the chosen organisation...1TASK 2............................................................................................................................................5Choosing a theme and tell the relation...................................................................................5Corporate Social Responsibility and Sustainability...............................................................51.) Relevance to the organisation and its effect on the policies and decision making inorganisation............................................................................................................................52.) Evaluate the effectiveness of the organisation's response towards this theme..................63.) Scope of improvement in the response of organisation....................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONDevelopment and management goes hand in hand at an organisation. If, the managementof an organisation is good, the rate of development will be high. On the other hand, a gradualdevelopment at the organisation will be playing a very important role in the improvement of theorganisation (Alvarez, 2016). Apart from this, the efficient management at the organisation willalso adopt various effective measures to develop a better work conditions and procedures at thebusiness firm. The organisation we have taken into consideration is Duratex UK Rubber &Plastic Ltd. It is a UK based business firm, works in plastic and rubber manufacturing sector. Inthis report, the various types of primary external influence factors that affect the operations of theorganisation and its importance to the organisation. Also, the report will discuss the relevance ofa selected theme on the functionality of the organisation (Reynolds, 2017). Apart from this wewill also discuss that how this theme have an impact on the policy and decision making processwithin the organisation with its effectiveness.TASK 1Primary external influences on the organisation and its effect on the chosen organisationDuratex UK Rubber & Plastic Ltd is one of the major company of UK that is working inthe field of rubber and plastic manufacturing. It is a family driven business that works in theexporting and distribution of the retail as well as the wholesale customer. The knowledgeablestaff helps in an effective manufacturing process that helps the company to have a betterproductivity as well as the profitability. Beside this, it helps the organisation to generate a bettervalue for money (Storey, 2014). Also, Duratex UK Rubber & Plastic Ltd provides the productfor a wide variety of products that improves its scope and market options for its customers. Theorganisation is deeply influenced by the internal as well as the external influencing factors thatare needed to be taken into consideration for the important decision making and policy makingprocess in the organisation. Some major external factors that are needed to be taken intoconsideration by the Duratex UK Rubber & Plastic Ltd are:Economy:The economic conditions within as well as outside of the country, plays a verycrucial and important role in the operations and success of the company. The organisationwill consider the important factors that will be affecting its productivity andmanufacturing process. The economic conditions will look after that the company will1
effectively and efficiently uses its available resources and raw materials to gain a betterproductivity (George and Jones, 2015). Besides this, any sort of change in the economicconditions within the country as well as the global level, will have a direct impact on theDuratex UK Rubber & Plastic Ltd. A positive and rising economy will help the companyto gain a better profit and generate a better revenue so that it can work down itsmanufacturing processes in a better way. On the other hand the negative or depressingeconomic conditions lays a negative impact on the operations of the company. Theeconomic condition of the market is deeply impacted by the governmental policies andother factors like war, terrorist attacks and change in exchange rates of the currencies inthe company. Apart from this, it also lays an important effect on the policy and decisionmaking process of the company. The Duratex UK Rubber & Plastic Ltd will decide anddraft the important policies and will make the essential decisions to run the business firm,taking into consideration the economic conditions that are prevailing in the market. Thiswill help the company to gain a better control over the conditions that the company canface while operating in the market.Finance:The Finance too, will play a very important role in the operations of theDuratex UK Rubber & Plastic Ltd in the market. The financial reserves and the capital,that is been implemented in the operations of the company has to be adequate andsustaining to continue the functioning of the company (Hammer, 2015). Theinvolvements of banks and other financial institutions in the operations of the company isvery crucial and important. Although, they do not impact the functionality of the DuratexUK Rubber & Plastic Ltd directly, but indirectly the fluctuating interest rates are themajor impacting factor for the company. Apart from this the availability of the credit andconsumer loans will somehow help the company to increase its sells and generate a betterrevenue for the company (Disch, 2016). The Duratex UK Rubber & Plastic Ltd will makethe policies and will draft the essential decisions in the company to avoid any sort ofnegative impact of the financial crisis in the company.Weather:The nature or the environmental conditions plays a very important part inregulating the production and the manufacturing process of the company. This will help alot to the company to meet the requirements of the organisation as well as the customersthat are been associated by the company. Besides this, the weather condition will affect2
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