Assignment on Understanding Business
8 Pages2293 Words153 Views
Added on 2020-01-06
Assignment on Understanding Business
Added on 2020-01-06
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UNDERSTANDINGBUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1EU referendum and impact of leaving of Britain from EU (Economic Issue)............................1Effect of Global Warming on Business (Environmental Issue)..................................................2Implications of EU referendum on Tesco (Legal Issue)..............................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONIn today’s globalized world, it is important to have a thorough understanding of businessin terms of the factors that can affect it in doing trade in other nations. These factors are likepolitical, economical, social, technological, legal and environmental/ethical. With giving dueconsideration to these factors, a business can sustain in the long and can survive with gaining acompetitive edge over others. In the present report, there will be discussion on three issues whichcan cause issues for the business. For this purpose, the firm, Tesco has been selected that will beemphasized to understand the issues.EU referendum and impact of leaving of Britain from EU (Economic Issue)A reference means a vote which any person of any age can participate in order to givehis/her answers in the form of “Yes” or “No”. The side which is having maximum votes isconsidered to be the winner. In United Kingdom, a referendum has been held in order to takedecision that whether Britain should leave the European Union or should stay in it. In this, allBritish, Irish and Commonwealth citizens who are of age more than 18 years and were theresidents in UK were eligible to give their votes (EU referendum: Pros and cons of Britainvoting to leave Europe, 2016). This referendum was held because the British public wantedBritain to get split from EU according to the latest opinion polls. Around half of the conservativeMP’s with having many labor MPs, the DUP and five cabinet ministers wanted Britain to leavein order to make it free from the control of EU and to provide its many benefits like child benefit,migrant welfare payments, protection from the City of London and to run their own affairs(Crutzen, Mosier, Smith and Winiwarter, 2016). However, the Prime Minister David Camerondid not want it to happen along with sixteen members of his cabinet.If Britain will leave European Union and will become independent, there will be fewbenefits and a lot of issues associated with it which will have a huge impact on the working ofTesco. One of the major issues which organization will face is that of significant uncertaintywhich can be created because of this and may lead to hamper the growth of economy (Pina andTether, 2016). It is because; leaving of Britain from EU will result in the decline in the value ofpound. Reason behind this is that UK exports will become more competitive and Tesco will berequired to adjust the negotiations during UK-EU which they will desire to stay from at least twoyears. However, on the other hand, Tesco will have the advantage of avoiding sophisticated trade1
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