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Impacts of Globalization on British Airways

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Added on  2020-02-03

Impacts of Globalization on British Airways

   Added on 2020-02-03

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Business Environment
Impacts of Globalization on British Airways_1
TABLE OF CONTENTSBusiness Environment.....................................................................................................................1INTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................31.1 M1 Determining the purposes of different types of organizations........................................31.2 Defining the Organization techniques to meet the objectives of different stakeholders.......41.3 The responsibilities of an organization to fulfill the needs of its stakeholders......................4TASK 2............................................................................................................................................52.1 The economic systems that attempt to allocate resources effectively...................................52.2 Analyze some challenges due to fiscal and monetary policies on business environmentfaced by British airways in the last one decade...........................................................................62.3 Impacts by regulatory, competition policies and legal changes in the airline industry.........7TASK 3............................................................................................................................................73.1 The market structure of the airline industry impacted the pricing and demand for airlineseats..............................................................................................................................................73.2 Analyzing the market forces affecting the business of Airline industries.............................83.3 Identifying the impacts of cultural environment ...................................................................9TASK 4 ...........................................................................................................................................94.1 The impact of global changes by WTO and other international civil aviation and tourismbodies on British airways.............................................................................................................94.2 Global factors impacting British Airlines............................................................................104.3 Impact of EU policies on BA...............................................................................................10CONCLUSION..............................................................................................................................11REFERENCES .............................................................................................................................12
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INTRODUCTION Business environment is the sum total of all the external and internal factors thatinfluence the business of an organization. It can influence the working of the business byaffecting its functions via factors like employees, customers, management, supply and demandand business regulations (Ahmed, 2012). It is also supports the business in finding out the bestways or solutions to overcome these factors, in order to reduce their impact and achieve theobjectives of the organization. British airways, often shortened to BA, is a flag carrier airline ofthe United Kingdom and the largest airline in United Kingdom based on fleet size. TASK 11.1 M1 Determining the purposes of different types of organizationsAs per the view of Bloodgood, 2008, it is necessary for an organization, to know where itis going and in what direction to move in order to pursue such aims describing the primarypurpose of the company and define the mission statement of an organization are the main startingfunctions of the management (Bloodgood, 2008). The purposes of different businessorganizations are:Private sector organizations – The primary purpose of profit-organization is to generateprofit. The individuals owning the company have the power to decide whether to keepthe profit or to spend it. Public sector organizations – Its main objective is to create a social and economicbenefit for the community rather than profits. For e.g. British Airways is also a publicsector company whose objective is to render best services to the customers (Bose,2008). However, BA has to take various actions to make cost base more efficient and,also on improving its outstanding customer service. Non -profit organizations –These organizations provide particular service to thecommunity with an objective to work for the people and forbidding the distribution ofprofits among the individuals owing them. Some examples of such organizations areschools, museums, etc.3
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1.2 Defining the Organization techniques to meet the objectives of different stakeholdersThere are number of stakeholders of British Airways which are media, customers,shareholders, employees, suppliers, regulators, governments, industry groups and associates,other airlines, partner organizations, NGOs, travel market, international civil aviation authorities,and communities (UK and abroad) (Craig, 2008). The organization techniques to meet theobjectives of main stakeholders are:Employees – British airways are progressive organizations which increasingly recognizeand motivate employees on achieving the organizational goals and their values, and arewilling to embrace change and improve customer services (Dent, 2012). The organizationtracks and record the opinions of the employees via all-employee confidential Speak Upprogramme conducting Surveys and hosting get together. Customers – The British airways conducts a regular Think Customer Survey to gather theinformation about the customer views and its reviews about the organization. Its mainaim is to focus on implementing changes as recommended by the customers as they arethe indicators/stakeholders which have vital impact on the future profitability (Dickinson,2010). The customer reviews and comments help the organization to steer the productinvestment decisions. Competitors – British airways monitors the performance of its competitors throughvarious techniques of analyzing the competitiveness. The organization conducts regularaudit to track the achievements of its competitors like Qatar airways and Emirates. It hasset of challenging goals, like increasing the proportion of waste recycling, improving theefficiency of building energy, reducing the carbon emissions in the upcoming years toovercome the comparative analysis from its competitors. The challenges that impact various stakeholders are economic conditions of the country whichaffect the organizations' ability to recruit and maintain the quality of the staff, to handle therequirements of the customers by overcoming their needs, balancing the level of supply anddemand factor for maintaining the relation with the suppliers and the customers. 1.3 The responsibilities of an organization to fulfill the needs of its stakeholdersThe responsibilities of the stakeholders of the organization are:Employees – British airways has the responsibility to create a respectful and healthyenvironment for its customers and employees. In order to uphold the high standards and
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