Unit 1 Business Environment Assignment Iceland Supermarket

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Added on 2020-02-05

Unit 1 Business Environment Assignment Iceland Supermarket

Added on 2020-02-05

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BUSINESSENVIRONMENT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Purpose of below stated organizations..................................................................................11.2 Ways to meet the objectives of different stakeholders in Iceland Supermarket...................21.3 Responsibilities of Iceland Supermarket as an organization and implemented strategies ...3TASK 2............................................................................................................................................12.1 Economic System to Allocate Resources :............................................................................12.2 Impact of fiscal and monetary policy:...................................................................................22.3 Impact of Competitive Policy and Other Regulatory Mechanism........................................2TASK 3............................................................................................................................................33.1 Market structure determine the pricing and output decisions ..............................................33.2 Different ways in which market forces shape organizational responses ..............................43.3 Impact of Business and Cultural Environment on Iceland supermarket ..............................5TASK 4............................................................................................................................................64.1 Significance of International Trade on Iceland Supermarket...............................................64.2 Impact of Global Factors on Iceland Supermarket...............................................................64.3 Impact of the European Union policies on Iceland Supermarket.........................................7CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9

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INTRODUCTIONBusiness environment includes external factors and internal factors which affect howcompany functions like its customers, employees, business regulations etc. These factorsinfluence every aspect of business like its nature, prices of product, policies and many more.Internal factors are the conditions that are available within the environment which affects theorganization. External factors are the conditions that cannot be controlled by organization. In thiscontext, present report has been prepared that provide understanding of different organizationand its influence on stakeholder. Also, it describes about the relationship between businessesand the local, national and global environments. For this purpose, the firm undertaken for thepresent study is Iceland food Ltd which is a British supermarket chain and emphasized on sellingfrozen and non- frozen foods. Organization further has a great share in UK food market.TASK 11.1 Purpose of below stated organizationsa) Iceland SupermarketIceland is among-st the renowned British supermarkets, headquartered in UK. It mainlydeals into the selling of frozen food and groceries, which together includes various ready mademeals, vegetables, and non frozen items such as dairy and dry goods. It is one of the leadingchain of supermarket heading forward to make a different identity of its name. The main purposeof this company is to become the most reasonable retailer. Thus, it always focuses on providinggood food to the consumers. The key accountability of its quality food is purity, which istogether safe and healthy.b) KFCKentucky Fried Chicken, formerly known as KFC is one of the rapidly growing fast foodrestaurant headquartered in UK. It is specialized in preparing fried chicken and is considered asthe world's second largest fast food chain. Other than serving the finest quality of chicken to itsconsumers, KFC also aim towards making huge amount of profit by expanding its business allover the world. Thus, the main purpose of KFC is to beat its competitors like MC Donald's, andPizza Hut, etc in every corner of the world and together providing a better customer service, ascompared to others.c) Transport for London (TFL)1

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Transport for London is a government body, responsible in managing the transportservices of London. It is formally named as London transport, serving in the area of greaterLondon. Mostly, whoever visits or lives in London, uses the services of TFL. Thus, it aims atproviding a better experience of journey to one and all. They deal in three units which coversurface transport, rails, cross rail and underground, covering 580km network of main roads andaround 6000 traffic signals of the whole city. TFL invests into the latest technology to plan thesmoothest ride of its customer's.d) Cancer ResearchCancer research is the world's leading charitable organization, serving in UK. It isentirely funded by the public, where there are over 40000 uniform representatives raising fundsfor it in the form of donations. It conducts investigation in order to prevent, diagnose and treatthe disease. It has its own hospitals, universities and institutes across UK, where the testingprocedure takes place. The main purpose of this organization is to soon beat the cancer.1.2 Ways to meet the objectives of different stakeholders in Iceland SupermarketThe stakeholders of Iceland supermarket are considered as the main asset of the companywhich include its customers, employees, shareholders, and the overall community, whichinvolves the government and public. They are the greatest supporters of the company with fewexpectations from the business. Thus, in order to continuously gain their support, the companyneeds to fulfill its objectives towards that group. Various objectives of different stakeholdersinclude-Customers- Iceland supermarket is among the most responsible retailer in UK,continuously aims to provide ethically sourced food to its customers, which is the onlydemand of every consumer.Government/ Public- It together works with the government of UK in order to promotepublic health. For this purpose, the stated company has totally stopped the usage ofartificial substance in its food and started promoting fresh fruits and vegetables. Iteffectively tackles the sales of alcohol by completely banning it for the under age people.It equally cares about the animals, protects the environment by minimizing waste andpromoting recycling. It also supports the community by making charities, etc.Employees and Shareholders- As per the employees of Iceland supermarket, it is a greatplace to work where their core values include continuously communicating to the2

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