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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION

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Added on  2019-12-03

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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 1 TASK 11 1.1 Purpose of different types of organizations 1 1.2 Extent to which an organization meets the objectives of stakeholders 2 1.3 Responsibility of organization towards stakeholders and strategies to meet them3 TASK 24 2.1 Ways in which economic system attempts to allocate the resources4 2.2 Impact of fiscal and monetary policy on organization 4 2.3 Impact of competition policy and regulatory mechanism on British Airways 5 TASK 36 3.1 Market structure and pricing as well as output decisions 6 3.2

BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION

   Added on 2019-12-03

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BUSINESS ENVIRONMENT
BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Purpose of different types of organizations......................................................................11.2 Extent to which an organization meets the objectives of stakeholders............................21.3 Responsibility of organization towards stakeholders and strategies to meet them..........3TASK 2............................................................................................................................................42.1 Ways in which economic system attempts to allocate the resources...............................42.2 Impact of fiscal and monetary policy on organization.....................................................42.3 Impact of competition policy and regulatory mechanism on British Airways.................5TASK 3............................................................................................................................................63.1 Market structure and pricing as well as output decisions.................................................63.2 Market forces that shape the organization’s response......................................................63.3 Impact of business environment.......................................................................................7TASK 4............................................................................................................................................14.1 Significance of international trade to UK business organization.....................................1AC 4.2 Impact of global factors on UK business organization..............................................1AC 4.3 Impact of European Union Policies on UK Business organization...........................2CONCLUSION................................................................................................................................2REFERENCES................................................................................................................................3
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INTRODUCTION Business environment is very complex in nature and it keeps on changing on continuousbasis. In this report, business environment is discussed in detail for which the firm, BritishAirways, is taken into consideration. Moreover, an attempt is made to understand interlinkbetween vision, mission, goals and objectives of the firm. In the present report, stakeholders andcompany’s responsibility towards them is discussed broadly. At the end of the report,competition policy and European Union aviation policies are also discussed in detail in order tounderstand their impact on British Airways.TASK 11.1 Purpose of different types of organizationsThere are many types of organizations and they have different purposes. Theseorganizations are described as below:Sole proprietor- These are those whose business is small in size. Due to small size, theirmain objective is to enhance profitability level. Thus, their main purpose is to control thecost of production and services in order to generate the economies of scale.Partnership- Such kind of business enterprise is to earn profit by making effective use ofresources that are contributed by different partners in an organization. Hence, both aredifferent from each other.Public organization- These are those companies that are owned by the government. Mainobjective of these firms is to do welfare of the society (Ghannadian, 2006). As a result,these companies time to time conduct employee welfare activities in an organization.Private organization- These are those organizations whose main objective is to earnprofit. In this regard, these firms attempt to utilize the resources in an efficient andeffective manner.Social organization- Social organizations are those whose main aim is to carry outwelfare activities that support needy people. These people may be crippled ororphanages.So, it can be said that these organizations are totally different from each other in terms oftheir objectives.1
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Mission, vision and objectives of British Airways VisionMission of British Airways is to become the premium airline in theworld. By doing this, it wants to establish prestigious image amonggeneral public.MissionMission of British Airways is to reduce the emission of carbon from itsplanes. Its mission is supportive to achievement of vision. By makingenvironment protectionist image, company intends to create goodimage among public (Gibbons, 2005). Objectives Main objective of British Airways is to make it costefficient so that it can elevate its profitability level.Short term objectivesIn order to become cost efficient, up gradation of technology isrequired. For this, heavy amount is also required. Hence, short termobjective of British Airways is to deliver outstanding performance tothe travelers. So, more travelers can be persuading to take service of thementioned firm. Ultimately, this will lead to increase the company’srevenue. 1.2 Extent to which an organization meets the objectives of stakeholdersStakeholders refer to those entities that support an organization in different ways. Thesestakeholders are as follows:Employee’s – Main objective of every employee is to grow in his career. British Airwaysunderstands this and carries training and development activities time to time. By gettingtraining, employee’s skills get developed and their efficiency level also gets improved.As a result, employees get promotion to higher posts. Hence, British Airways helpemployees in fulfillment of their objectives (Green, 2005).Creditors- These are those from whom business firms take loan. An objective of anycreditor is to receive the debt amount on time with full interest. British Airwaysunderstand this and it makes payment of credit on time to the creditors.Government- Objective of government is always to receive the tax on time from businessfirms and to make sure that they are following all rules and regulations. British Airways2
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