Business Management - A Case Study
Added on 2020-06-06
11 Pages3920 Words405 Views
FinanceEconomicsPolitical Science
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CRITICAL ISSUES INBUSINESS MANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Impact of Brexit on investment and trade in finance sector .......................................................3Evaluating possible challenges and opportunities in the finance sector after Brexit..................6CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONManagement is a process of involving planning, staffing, organising, directing andcontrolling human efforts in order to accomplish the set objectives of organisation. It aids indesigning and maintaining an effective working environment in which employees can worktogether. Therefore, it is essential for managers to manage all working activities and operationsso as to gain a competitive edge over others in the market. It promotes healthy among industrialrelations and extend the quality of work life. Business management contributes in theorganisational competitiveness and also, optimises use of scarce resources (Spenceley, 2012).The present assignment is based upon British Commonwealth. It is an inter governmentorganisation of 52 member states which are mostly former territories of the British Empire. Inthis modern era, there are various key trends that come in trade of goods and services. It isoperated by inter government consensus and commonwealth games are organised through non-governmental organisations as well as commonwealth secretariat. It was formed by LondonDeclaration in the year 1949 so as to carry out games at global level. Readers will also come toknow the impact of Brexit on trade and investment in finance sector. Furthermore, managershave to evaluate the possible challenges and opportunities of a business enterprise. Apart from this, there are several countries which are also involved in commonwealthgames such as Australia, Belize, Fiji, Ghana, India, Kenya, Mauritius, South Africa, Tonga,Swaziland, Zimbabwe, Nigeria, etc. All these nations organise various games and they also tradein goods and services. Along with this, there are several non-government organisations which areinvolved in trading of goods and services of sports (Lin, 2013). Key trends in trade of goods and services between Commonwealth countries: - As per the time changes, United Kingdom is involved in commonwealth games andactivities. Below mentioned several changes which are done by business organisations so as tomake various improvements in commonwealth games such are stated as under: - Central to Liverpool’s unique bid to stage the Games is the riverside just two miles northof the city centre. A new football stadium should be replicated the intimacy, fan proximity and atmosphereof Goodison Park – will accommodate a temporary athletics track for the Games withoutany disruption to those features. The track will be installed after the final home game of1
the 2021/22 season and will be removed before the first scheduled kick-off of the2022/23 season.A new 50 metre swimming pool is prepared in London, that would remain in place afterthe Games – providing both a swimming and visitor attraction legacyTrack Cycling and T20 Cricket are optional sports that would take place in Manchesterat Old Trafford Cricket Ground (Emirates Old Traffor). Key trends of goods and services in commonwealth countries, such as- Tea products – India is one of the famous commonwealth country that is a largest sellertea and coffee products. The country is the finest over the world owing to strong geographicalindications, by having heavy investments within different units of tea processing (Busch andMatthes, 2016). India is highly focused on continuous innovations augmented product mix aswell as strategic market expansion. Along with this, the major tea growing regions are – NorthEast India and North Bengal. Export of Indian teas including by 5.7% in the first four month of2017. During 2016, major importers of Indian tea was Russia, Egypt, Iran, Saudi Arabia etc. Precious gems and metals – Another products are precious gems and jewellery. UnitedKingdom is the second largest retailer of these goods and services, i.e. gems, jewellery,diamonds are accounted for $22 for UK exports in 2016. Apart from this, China is also a greatseller of jewellery products and services. In 2015, China has dropped by 3-20% in retailing salesof platinum jewellery. Demand of diamonds is currently valued at around RMB62 billion in ayear. The country basically trade its gems and stones to UK and earn profits from here.Moreover, at present only 20% of Chinese urbanities own diamond jewellery whereas 70% ofthe population of the UK own such items. Food industry – Australia is known as developing country and it has a huge market sharein food industry. The country's food and agriculture sector involves food related agricultureproduction, food processing and the major inputs to these activities. Food industry market ofAustralia is classified into two parts, such as- food products, like all types of food processing andbeverage manufacturing and the key inputs to the sub sector (Heisbourg, 2016). Another isagribusiness involves all agricultural which relates directly to food production. Furthermore, thefood industry of Australia highly contributes in its economic growth and development byproviding employment and service opportunities. There were approximately 1800000 businesses2
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