Current Economic Situation in Europe: Impact of Covid and Brexit on Aldi Company and Business Ethics

This project discusses the impact of Covid and Brexit on the current economic situation in Europe, with a focus on Aldi Company and business ethics. Topics covered include staffing challenges, revenue streams, exporting, customer experience, ethical practices, and more.

CURRENT ECONOMIC
SITUATION IN EUROPE
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Task 1...........................................................................................................................................3
Task 2...........................................................................................................................................4
Task 3...........................................................................................................................................5
Task 4...........................................................................................................................................6
Task 5...........................................................................................................................................6
REFERENCES................................................................................................................................7
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INTRODUCTION
This project will discuss the impact of covid and Brexit. Issues face by Aldi company
will also discuss. Business ethics related discussion will also there in the project.
MAIN BODY
Task 1
New article published by Financial Management, Covid 19 has been one of the major challenge
for the companies in United Kingdom. IN the time of pandemic there are multiple operation
management related issues faced by the businesses. Staffing is one of the major challenge
companies require facing in the time of pandemic. IN the pandemic situation staffing specially
skilled human resource become one of the major issue organization faced. Health and safety
related issues are also faced by the business (Allhoff and Henschke, 2018). This can be quoted as
another major challenge as earlier prior to the pandemic companies and stakeholders were not
actively involved with giving proper emphasis on ensuring health and safety standards in the
organization. Especially after the pandemic management get more ware with the proper
management of the health and safety standards in the industry. This could cause to many
operation management issues face by the organization. Revenue streams get closed of most of
the companies. As the pandemic was not favouring to the businesses to delegate the business
operations effectively. Revenue of the companies were completely down in the pandemic which
could further hamper to the growth and development scenarios of the business.
News article published on BBC news could clearly state that Britain formally left the
European Union (EU) and its single market on 1 January 2021. The effect of this is directly over
the exporting of the country in international market. The entire situation is quoted as Teething
problems as long delay was reported on the port in such a time. Mass shortage was created due to
lack of proper operation management function implemented in the country. IN the time of
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BREXIT situation lack of availability of the skilled employee and labour was become a great
challenge for the economy (Bhattacharjee, Nguyen and Venables, 2020). Companies do not get
to appoint the required number of employees due to labour shortage created in the market. All
this result into the huge economic decline for the United Kingdom as an economy. New paper
work was also introduced that could case to unreasonable delay as not many people were aware
with the terms and conditions introduced in the new paper work introduced by the government.
Operation management widely influenced with how effectively operations are handled in a smart
and simple manner. Due to different changes are introduced operation management could
completely go down that could cause to a huge amount of economic damage in the country.
Task 2
Question 1
Aldi Company prioritize its customer experience at utmost level. Company launched different
variety of products for example the company is offering 35 different variant of ketch up just to
grab the best amount of consumer experience. Company has launched policies like products'
development, innovation and such other so that organization can gain the most effective level of
customer experience in the business. In context to any business area the customer experience
enjoy by the organization will put a direct impact over the growth and development of the
organization in respective target market. In respect to the Aldi Company management has
priortised its customer experience at an utmost level so that better growth and development
opportunities could grab by the company. The similar business model can be adopted by other
businesses as well operating in any of the industry (Guttman and Lev, 2021). The same policies
can be adopted by other businesses as well in order to ensure the most effective level of customer
experience in the business. Product diversification always motivate to new potential customer to
come and buy products offer by the organization. Customer sustainability always remain high for
such companies holding a better level or amount of product diversity in comparison to the one
holding a very limited level of customer satisfaction in the business.
Question 2
Presenting the products in boxes look like a very non attractive tactics which company is
currently adopting in the business. This would significant influence to the buying behaviour of
the customers. Today the business environment offer the most aggressive level of market
competition. Aldi Company is associated with the retail sector that is high competitive in its own
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terms. Henceforth, it can state that company require offering more attractive services and
fascinating products and services tat can drag the interest of every possible customer in the
business. Customer require to sacrifice the customer satisfaction level at some level. Further, it
looks less convince for the customer to bring out products from the boxes and then to see the
convenience for the customer to use the same (McCann and et.al., 2021). It is important that
company should offer smoothest and continent shopping exercising to its customers so that better
level of customer sustainability can maintain by the Aldi Company in context to other key
competitors in the market space.
Task 3
Ethical practices are like a values and beliefs hold by the organization in order to execute the
business operation's. This is like an application of the values and beliefs of the organization in
order to execute the business operations at an organisation ;level. The ethical practices in the
organization is segregated into the various parts such as integrity, honesty, discipline, fair and
respect and responsible and accountable. All these are the various types of ethical practices that
can support to the venture in supporting the overall business objectives. For example Marks and
Spencer Company has adopted the complete data protection practice. In this approach company
tried to install the latest technology systems and software that can provide the complete
opportunities to the organization to secure the personal data and information of the employees
and customers (Pasandideh and Yaghoubi, 2022). This is a part of the integrity and loyalty
related ethical ground. Another example of ethical practice is such that Aldi Company has
adopted the employee grievance policy. IN this company will try to address the issues of the
employee on a priority basis. This is under the fair and respect policy of ethical values. This
policy could completely change the values and beliefs of the organization along with the human
resource associate with the company. This policy could favour to the employee in the company
to approach the issues face by the employee work with the organization in the best way possible.
The impact of this is such that company could sustain its human resources in the organization for
longer time duration.
Examples related to the ethical practice also involve the practice followed by the Asda Company.
For example Asda Company has taken a decision to change the toxic work place culture of the
organization. Earlier there was not any proper work management was taken a place in the
company. The result of it is such as that many employee stated leaving the company due to the
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hectic schedule of the company. Company has taken steps where shifts are strictly implemented
that could favour to the organisation to restrict the total number of working hours. Company has
also adopted the policy related to the discrimination and harassment. These are major ethical
issues face by the employees at work place especially to the female employees. With this policy
company could completely take a control over the ground that ensure no harassment such like of
activities may take place in the organization.
Task 4
Covered in PPT.
Task 5
Covid and Brexit both the situations found economically very challenging for the businesses.
Company get to address various issues that involve trade restriction lack of availability of skilled
labour and such other. Aldi company require to ensure a proper ethical values in organization.
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REFERENCES
Books and Journal
Allhoff, F. and Henschke, A., 2018. The internet of things: Foundational ethical issues. Internet
of Things. 1. pp.55-66.
Bhattacharjee, A., Nguyen, D. and Venables, T., 2020. The prospects for regional disparities in
the UK in times of Brexit and Covid-19. National Institute Economic Review. 253.
pp.R1-R3.
Guttman, N. and Lev, E., 2021. Ethical issues in COVID-19 communication to mitigate the
pandemic: dilemmas and practical implications. Health Communication. 36(1). pp.116-
123.
McCann, P. and et.al., 2021. Rebalancing UK regional and industrial policy post-Brexit and post-
Covid-19: Lessons learned and priorities for the future. Regional Studies. pp.1-13.
Pasandideh, I. and Yaghoubi, B., 2022. Application of a New Gorilla Troops Optimization
Algorithm for Reservoir Operation Management. Iranian Journal of Soil and Water
Research. 52(11). pp.2829-2842.
Ruan, J. and et.al., 2019. A life cycle framework of green IoT-based agriculture and its finance,
operation, and management issues. IEEE communications magazine. 57(3). pp.90-96.
Stahl, B. C. and et.al., 2022. Organisational responses to the ethical issues of artificial
intelligence. AI & SOCIETY. 37(1). pp.23-37.
Online
Brexit still a bit of minefield for businesses, 2022. [ONLINE]. Available Through:
<https://www.bbc.com/news/uk-england-norfolk-59854828>.
Key covid challenges, 2020. [ONLINE]. Available Through:
<https://www.fm-magazine.com/news/2020/may/key-coronavirus-challenges-for-uk-businesses-
cima-andrew-harding.html>.
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