Importance of International Trade to UK business | Report
Added on 2020-02-05
12 Pages3936 Words76 Views
Business Environment
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Purpose of different types of organizations and comparison of missions, goals & strategicobjectives with the similar organization.................................................................................11.2 Stating the extent to which organization can meet the objectives of the differentstakeholders............................................................................................................................21.3 Stating the responsibilities of an organization and strategies employed to meet them....3TASK 2............................................................................................................................................32.1 Economic system attempts to allocate resources..............................................................32.2 Assessment of impact of fiscal & monetary policy on business organization & theiractivities..................................................................................................................................42.3 Impact of competition policy and regulatory mechanism on the activities of theorganization............................................................................................................................4TASK 3............................................................................................................................................53.1Ways through market structure determine the pricing and output decisions of business.53.2 Different ways through which market forces shapes organizational response with example................................................................................................................................................53.3 business and cultural environments of Sainsbury............................................................6TASK 4............................................................................................................................................64.1 Significance of international trade on UK business.........................................................64.2 Impact of global factors on UK Organisations.................................................................74.3 Impact of the European Union Policies on UK business organization............................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTION Business environment comprises of internal and the external factors which influences theoverall functioning of business units. Sainsbury is the second largest chain of supermarkets in theretail sector. It specializes in dealing with different types of product (Aterido, Hallward-Driemeier and Pagés, 2011). This report discusses about the purpose of different types oforganization with the missions, goals and objectives. Different ways are adopted to meet theobjectives of the different stakeholders. It evaluates the responsibilities of organization toallocate the resources. Further, fiscal and monetary policies are assessed and the competitionpolicies are ascertained through which the pricing and output decisions can be determined.Moreover, this report also analyses the importance of international trade to UK businessorganizations which determine growth of the organization.TASK 11.1 Purpose of different types of organizations and comparison of missions, goals & strategicobjectives with the similar organizationIn today's context, there are various types of organization which serve in fulfilling thesingle objective which is associated with generating profits. It is essential to determine thevision, goals and objectives for the purpose to sustain within the business environment for longerduration of time. There are three types of organization which operates in accordance to meetstrategic objectives.Sole proprietorship: It is the single legal entity which is operated by the single individual.The purpose of this entity is to generate maximum profit out of various operations (Baron, 2003).They are legally obligated with the reforms and need to be handle by themselves. For instance:Kurt Geiger is the retail sector brand which operates into the footwear industry for the purpose togenerate profit.Listed company: They are the companies which serve wide range of customer by makingbest profit along with providing the valuable experience to the customers regarding the purchaseof product and services. For instance: Sainsbury is the listed company which function for thepurpose to generate maximum profits.1
Non profit organization: These are those organizations which do not operate for thebeneficiary purpose. They carry out various activities for the betterment of public. For instance:National Health Service England is the organization which operates for the welfare of the public.Organizations have different mission, goals and objectives which they serve to sustain forthe longer duration of time. Sainsbury integrate all the activities to serve best quality of productto the customers to create the positive impact on the customers to whom they are offering theirproducts (Berger and Udell, 2002). The main objective of Sainsbury is to make the productsavailable to wider number of customers. By modifying the offering procedure Sainsbury canenhances its customer services in more appropriate manner. This will help Sainsbury to functionin an efficient manner over the performance parameters as per the standards ascertained by themto cater large number of customers.1.2 Stating the extent to which organization can meet the objectives of the different stakeholdersThere are several stakeholders which are associated with the overall functioning of theorganization. Sainsbury is associated with several stakeholders that help the company inenhancing their performance and which further result into longer sustainability. The stakeholdersof the Sainsbury are discussed underneath:Suppliers: They are the important stakeholders which makes resources available toSainsbury to make the offering to the customers (Björklund, 2011). All the information relatedto the customer requirement need to be passed on to the suppliers for making goods available tothe customers with the help of these stakeholders.Customers: They are the key personnel which determine growth and development ofSainsbury as they operate to meet requirement of them by making appropriate offering of theproducts. Sainsbury adopt proper planning and assessment tactics to identify need of thecustomers and fulfil them in an appropriate form.Employees: These are those individual who carry out entire functioning of Sainsbury tofulfil the requirement of the customers. As per the transformation into business environment,Sainsbury is required to ascertain effective framework related to the performance and rewardthem to meet the objectives. Sainsbury can prioritize the entire work and program the activities in a systematicmanner so that different objective of the stakeholders can be achieved (Bowman-Amuah and2
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