The Influence of Two Contrasting Economic
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Added on 2020-06-03
The Influence of Two Contrasting Economic
Added on 2020-06-03
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UNIT 1 BE
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Type of business, purpose and ownership............................................................................1P2. Different stakeholders who influence the two contrasting businesses..................................2TASK 2............................................................................................................................................2P3. Organization of two business................................................................................................2P4. Style of organisation helps them to fulfil their purposes.....................................................3TASK 3............................................................................................................................................4P5. Influence of two contrasting economic environments on business activities......................4TASK 4............................................................................................................................................5P6. Political, legal and social factors are impacting upon the business activities......................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONThe combination of internal and external factors that influence a company's operatingsituation. The business environment can include factors such as: clients and suppliers; itscompetition and owners; improvements in technology; laws and government activities; andmarket, social and economic trends (Prajogo, 2016). This report contains various types ofbusinesses and the different factors which can influence the business. Further, it shows economicenvironment, political, legal and social factors which can have an impact on the business. TASK 1P1. Type of business, purpose and ownershipAny business can either be a public, private or voluntary business. A public business likethe BBC for example is a business that provides services to the public by informing andeducating them. A public business is usually provided by the central or local government, so thismeans that it gets its funding from the government which is the taxes that the public pays for theservice that they provide for them (Linder and Williander, 2017). On the other hand a privatebusiness has their own funding, that is not provided by the local government, and they offerprivate services to people such as travelling, tourism, accountancy, hospitality etc. Voluntarybusinesses are occasionally charities that help good causes like cancer research or globaldevelopment through voluntary services like donations. A few examples of charities that providevoluntary services are RSPCA, Cancer Research UK and Save the Children. Businesses have different purposes whether it may be to supply products or services totheir customers. Products or goods are tangible items that once paid for become yours and youhave ownership over it. Services on the other hand are intangible actions that you pay for butdon’t keep ownership of. It is something that you ‘have’ or ‘get’ e.g. a haircut or a car-wash etc.Organisations that provide these products or services may do it for profit or non-profit purposes.Profit organisations’ purpose is to make money just for their selves and the profit that they makegoes back into their own business (López and Diéguez, 2015). Meanwhile, a non-profitorganisation like charities makes money to help others with good intentions like cancer research.Not all the profit charities make goes to the research they are supporting as they also need asmall proportion of the money to sustain the charity. 1
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