Impact of Modern Business Changes on Global Environment

The assignment highlights the importance of ethics and corporate social responsibilities in maintaining effective relations with social, cultural, economic, and environmental issues. It emphasizes the need for leaders to adopt effective leadership styles and management practices to achieve business growth and success in a global environment.

Context of business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Discuss the micro and macro environmental factor and changes in modern business...............1
Identify and analysis importance for individual and organisation..............................................2
TASK 2............................................................................................................................................4
History and summary of business...............................................................................................4
Discuss the vision, leadership, management and development of peoples.................................4
Development or implement at organisation with specific example............................................7
Recommendations and improvement..........................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
The global business is network which is leads the consulting firm that specialised in the
helping organisation to growth in the whole market and worldwide. This operates and owned for
provide worldwide services to peoples (Akhtar and et.al., 2018). Report is divided into the two
parts first is understood the dynamic and changing nature of business and identify the needs of
individual and organisation. The second part is based on the retail sector firm which is “Tesco” is
the largest retailer in the UK with over 3000 outlets. It is covered by the leadership style and
management practices at various strategies is help to company and development of appropriate
policies and strategies within the changing environment to meet stakeholders. It is also
highlighted by the design and development of organisation.
TASK 1
Discuss the micro and macro environmental factor and changes in modern business.
The micro and macro environmental factor and changes in the modern business at global
network are as follows:
Micro factor
Micro factors of business an includes the factor in area of operation. That affect to
business performance and its decision-making process. That includes the competitor, customers,
distribution channels and suppliers. This factors are more important for the business and its
growth. By analysis of micro environment factor it is help for know about the strength and
weakness of the firm (Bender and et.al., 2018). With that management is able to make strategies
for formulation of process. That helps for planning for effective performance. It is more
important for the every business which are retails and automotive sector.
Macro factor
Macro environmental factor are affect to business and it growth of business by outside.
That includes political, legal, economical and social factors. That all are affected to the
performance business and its objectives and growth. That factors are uncontrollable factor that
influenced to organisation and its decision making process by changing in that. Specific
examples of this are competitor, change in interest rate and also to culture tastes. By this
management have to make their decisions according changes.
Changed nature of modern business in the global environment
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It is fact that business environment is ongoing changes. Companies are must do changes
in their competitive advantages and environment. For that management is try to do changes
promptly or activity anticipate change in customer demographic, future technology, potential
new product and services for effective growth of company in the future (García-Sánchez and
et.al., 2016).
The key drives change in the modern businesses in global environment. By the changes
that increase the pressures on organisation to be competitive at global environment. With this
also communication and information technology. Technologies are most important part of the
organisation to make effective changes by reducing gap between the peoples. By this
management can do online meeting through net and mobile phones.
Changes in the modern business is this effective and helpful for the business and its
growth because it helps to reduce the hierarchical structure of business and organisation, Because
of it cannot respond quickly to changing market demands. It is also eradicate blurred boundaries,
teams as basic and support to new management perspective.
Changes are help to increase the complexity of work by lack of information for the
organisation and its job roles. All employees want proper information of work and its job roles
not only for do their work but also to work effectively with best and good result by other team
members. Changes in modern business is help to make effective global presences of organisation
and help to make effective global environment of the business (Holten and Brenner, 2015).
Identify and analysis importance for individual and organisation.
Social responsibility is important for the individual and organisation for manage social
responsibility and behave ethically in relation to social, cultural, economical and environmental
issues. Ethics and social responsibilities are important and vital issues for manager of
organisation. Ethical decisions and behaviour are typically for guided by the values of system. It
is important and required for the individuals and organisation for manage social, economic and
environmental issues for the business.
For individual
Social responsibilities are important for the individuals. For maintain growth and
objective of firm (Kennedy, 2016). Employees of firm maintain their relations with other staff
members. Social and culture behaviour of the employees are important for management to
improve their quality of life of workforce and workplace.
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This maintainable as it involves for the marketing activities and without this, it will
negative impact on business growth. It is important for the individual's because they play an
important role in the organisation. They give their hard contribution to achieve goals of
company. Ethics and behaviour of the employees are help to growth of company.
This creates social, culture, economical and environmental issues for individuals. It is
important for individual to improve their work quality and business management. This boost
more ability of employees to attract and retain employees. Ethics and good behaviour of
employees are give positive impact on the business.
For organisation
It is also important for the organisation. This help to maintain growth and goodwill of the
company at global environment. CSR is the root of business this positively effect to business and
its growth (Khilji and et.al., 2015). It is important and needed for then organisation. This help to
improve financial performance, lower operating cost, enhanced brand image and reputation and
increase greater productivity and quality of business for global performance.
By this some benefit's for business environment like greater material and better product
functionally. Integration of environmental management tools into the business plans are help to
assessment of business life cycle and costing environmental management standard. The
corporate culture sustainable in three ways: economic social and environmental. This create that
types of issues for the business at global market (Nguyen and et.al., 2017).
Business make changes in their business polices in this social issues are created by the
location and cities because of location and peoples have their culture of work and economy of
country. Economy plays an important role in the global changes. Economy of country is the key
success of business. Environment issues are creates when social responsibilities of organisation
is plays an important role. In this management of organisation have to take decisions for the
handle that.
According to above discussion corporate social responsibility is important for individual
and organisation. It is good for growth of organisation for long term. By this individual give hard
contribution for achieving goal of company and also organisation give efforts for build and stable
goodwill of organisation in global.
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TASK 2
History and summary of business.
Tesco is the British multinational groceries and general retailers. It is public limited
company and 3rd largest retailers in the world which is measured by gross revenue. It has shops
in 7 countries across the Asia and Europe. It was founded in the 1919 as the group of market
stalls. Tesco has expended globally in 1990 with operations in 11 countries in the world. It has
460000 numbers of employees with 1208 million net income.
It is one of the largest retailer company in the world with core business in UK that
provides 60% of all sales and profits. Its philosophy has the every little helps that puts customers,
employees and communities at everything. That focused on providing a great shopping
experience for every customers by online or form shops (Renko and et.al., 2015).
The Tesco's values are embedded in the way of business at every level. It treats their
customers and everyone very effectively and best way. The vision of this is encompasses more
than one perspective by referring to innovation by way of doing business, employees, customers
and communities. A mission of this is to make matter better together.
The mission, vision and goal of Tesco's are interrelated to the organisation is seeking to
achieve the strategies and tactics to achieve goals and aims of business. Its strategies, have the
key role in achieving the success of business. The vision, mission, values and strategies are
meaningless tools if their impact is not monitored and evaluated. Its executives committee asses
the progress of strategies at corporate level. It is effective and calculative for the growth of
company.
Discuss the vision, leadership, management and development of peoples.
The vision. Leadership style, management practices and development of peoples at tesco.
Vision
tesco has vision for achieve their goals and objective of the company. Its vision has five
elements which are describes and help to company. The elements are wanted and needed around
the world. Management wants effective and valuable growth of company. They want to fulfil the
needs of customers (Schaltegger and Burritt, 2017). A growing business with taking full
opportunities. It has various opportunities to handle the weakness and threats from competitors.
It has vision to move the modern world by creating innovations and full of ideas. Innovation is
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help to make growth of company with effective and good brand image at marketplace. Its vision
is also included the winners locally whilst applying our skills globally. They want to inspiring,
earning trust and loyalty from customers, our colleagues and communities. That all are included
in the vision of Tesco. Management want to make and build effective growth of company by
managing employees and staff members.
Leadership style
Leadership style is important for the every company for maintain their staff members and
employees towards the growth of company (Leadership style, 2017). There are having various
leadership styles such as democratic, autocratic, laissez faire, strategic, transformational,
transactional and bureaucratic leadership style. Leaders can carry and mix above leadership style
depending on their business and organisation. According to the leadership experts are help to
make effective and valuable changes for its.
Leaders are important part of the organisation because it helps to maintain the relations
between the employees also to motivate them. Motivation is an important for the employees
towards the growth of Tesco. Management of tesco is adopted the democratic leadership style in
their policies. It is one most effective and best leadership style that allow lower level employees
to exercise authority for their future needs. It is also helped to make decisions for company board
meeting. The leadership of tesco is motivated to employees and due to this, the organisation
continues to provide good services the customers.
Management practices
Companies are having the management practices are help to improve the productivity of
employees by providing training to them (Steg, 2018). It is effective and valuable part of the
Tesco. There are having various management practices such as human resource management,
training and development program, recruitment and selection process and most important is
supply chain management. Effective and valuable supply chain management is help to Tesco
emerge as a market leader in the retailing. Supply chain plays an important role in the retail
sector because through that management move their products and services to provide to
customers. For that management uses the techniques and system like points of sales data,
primary distribution and continue replenishment.
Technology makes effective supply chain for supply and move product and services one
place from another place. Effective and best supply chain managements help to make effective
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brand image at market and provide meaningful feedback in constructive manners. For improve
their employees skills management of tesco provide best training to their employees. It is
important for positive outcome of work. Training and development program help to improve the
performance of employees and give effective values towards result (Welford, 2016). For training
and development process they can use on the job training method which is also called modern
training method of training. By this method management give effective training t their employees
with practical practices. Practical practices are give positive result on learning process.
Management uses the business games, job instruction and job rotation training method.
By this method management creates situation for employees and say to solve that and give
solution for that. This help to increasing decision making power of employees. According to job
instruction method management give proper instruction of work and to do work. It is effective
and valuable for the organisation growth and management practices at organisation.
Leadership and management strategies
There are various leadership and management strategies are help to improve the practices
of organisation. That are as follows:
Distribute responsibilities
It is the most important strategy for improvement of polices. By this management and
employees are able to give their hard contribution to achieve work goals. In this management
distribute the responsibilities and roles of businesses and task by this work is done in short time.
Be honest and open about information
In this management is had to give all the information which is related to the work, not to
hide with other peoples (Wiengarten and et.al., 2016). By these employees of Tesco is able to do
right work with right and correct information of work. This help to give positive result of work.
Create multiple path for raising and testing ideas
Developing and presenting the ideas for the making key skills for strategic leaders. It is
more important ability to do work for connect their ideas. Innovations are help to make effective
part of the organisation. By these employees can do work effectively.
Develop opportunities for the experience based learning
Develop opportunities for the growth of organisation and improve skills of employees.
Opportunities are help to make way of business and work of employees. Create leadership
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experience is help to motivate to employees towards improve skill of employees with best and
good result if work.
Recognize leadership development as an ongoing practices
Strategies have humility and intelligence to realise their leadership and development. It is
effective and most important for the growth of businesses. Tesco is developed the leadership
quality for the improvement of tesco growth and objectives.
Development or implement at organisation with specific example.
The concept and sustainability development is received growing recognition. But it is
new idea for the every business. Development and improvements are important for positive
growth of business. Tesco makes changes in their polices and strategies for making it effective
and well-being. For the business, sustainable development means adopting business strategies
and activities are help to meet the needs of enterprise and its stakeholders. This help to enhanced
the human and natural resources that will need for future. Stakeholder is important part of the
organisation to meets with success of organisation. It has ability to meet with needs of future
generation to meet their own (Bender and et.al., 2018).
Develop and implemented in Tesco
Develop and implemented in strategies in the organisation for improve productivity and
profits of it. By this organisation is able to make effective and valuable changes for the
organisation. For that management is make effective strategies for development of growth of
organisation in positive way. Strategies are key success of Tesco.
For implementation of distribute responsibilities strategy in the team members. They can
make chart of daily work task and share responsibilities of work to responsible person. By this
management and team members are understood their work and do it with effective and good
result at the time. Distribution of responsibility is given potential strategic leader the opportunity
to see take risk. It is also helped to increase the collective intelligence, adaptability of
organisation (Kennedy, 2016).
The implication of honesty and open about the information in this case they can provide
all the information to employees not to hide them. Hiding any information which is related to
work and task by these employees are able for right and correct work. That is effective and best
way of to meet stakeholder of Tesco. Like when employees have all information which is related
to the product then they give right information to customers. By these customers are attracted
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towards the organisation and this help to increase profit of firm. Strategies are help to make
effective and strong brand image at marketplace.
Recommendations and improvement
Improvement and development is the effective and valuable for the management and
every company process. For that management can make other management practices and use
strong leadership style for further development. Tesco is uses the democratic leadership style for
their leaders to improve team work and individual work of employees. It is best and effective
leadership style (García-Sánchez and et.al., 2016). It is allows lower level employees to exercise
authority for future improvements. This also help to make decisions made for the organisation
growth and its board meeting.
It is effective and valuable for the growth of Tesco. Best polices are help to make design
of products and success of meetings. For changes and other improvements they can use the
autocratic leadership style for the improvements. It is inverse of democratic leadership. In these
leaders makes decisions without taking input from the any report. Management practices
organisation uses the supply chain management and training and development program of
employees.
This management practices are help to improve distribution process by using
technologies. It is effective and well-being for the management. For the further improvement and
development management can use the reward's system to motivate to employees. It is effective
and best policies for boost morale of employees towards the positive way. Rewards system is the
part of management practices and that are two ways financial and non-financial rewards system.
By these employees are highly motivated and give their hard contribution tom achieve goals and
objective of organisation.
CONCLUSION
From the above study it had been concluded that the changes in modern business has in
global environment. Dynamic changes has important for growth of business at global presences
and also in global environment. Individual and organisation both had been needed to ethics and
corporate social responsibilities for positive and best work. That helped to maintain effective and
valuable relations with social, cultural, economic and environmental issues. Report had been
covered by the business and its summary and its vision, leadership style, management practices
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and various strategies has been important. That all has important for making goals and strategies
for growth of company. It had been covered by the recommendations for the improvements of
the business by using more effective and making some changes in the existing leadership style
and management practices.
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REFERENCES
Books and journals
Akhtar and et.al., 2018. Essential micro‐foundations for contemporary business operations: Top
management tangible competencies, relationship‐based business networks and
environmental sustainability. British Journal of Management. 29(1). pp.43-62.
Bender and et.al., 2018. Management practices, workforce selection, and productivity. Journal of
Labor Economics. 36(S1). pp.S371-S409.
García-Sánchez and et.al., 2016. Impact of the institutional macro context on the voluntary
disclosure of CSR information. Long Range Planning. 49(1). pp.15-35.
Holten, A. L. and Brenner, S. O., 2015. Leadership style and the process of organizational
change. Leadership & Organization Development Journal. 36(1). pp.2-16.
Kennedy, A. M., 2016. Macro-social marketing. Journal of Macromarketing. 36(3). pp.354-365.
Khilji and et.al., 2015. Incorporating the macro view in global talent management. Human
Resource Management Review. 25(3). pp.236-248.
Nguyen and et.al., 2017. Effect of transformational-leadership style and management control
system on managerial performance. Journal of Business Research. 70. pp.202-213.
Renko and et.al., 2015. Understanding and measuring entrepreneurial leadership style. Journal of
Small Business Management. 53(1). pp.54-74.
Schaltegger, S. and Burritt, R., 2017. Contemporary environmental accounting: issues, concepts
and practice. Routledge.
Steg, L., 2018. Environmental psychology: An introduction. Wiley-Blackwell.
Welford, R., 2016. Corporate environmental management 1: systems and strategies. Routledge.
Wiengarten and et.al., 2016. Risk, risk management practices, and the success of supply chain
integration. International Journal of Production Economics. 171. pp.361-370.
ONLINE
Leadership style. 2017. [ONLINE]. Available theorugh: <https://blog.proofhub.com/7-common-
leadership-styles-which-type-of-a-leader-are-you-ef23c93bc706>
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