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Management and Business Context

   

Added on  2021-04-21

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Running head: MANAGEMENT AND BUSINESS CONTEXTManagement and Business ContextName of the Student:Name of the University:Author’s Note:

1MANAGEMENT AND BUSINESS CONTEXTThe present day business world has become much more competitive than it was a fewdecades ago. This can be attributed to various factors like the advent of globalization, theadvancement of technology, the innovative strategies used by the various companies andbusiness organizations and others. Therefore, the various companies and businessorganizations often undertake an analysis of their internal as well as external environments inwhich they operate in a bid to device strategies by means of which they can outrival theircompetitors (Hitt, Ireland & Hoskisson, 2012). In addition to that, “the identification of thevarious risks and the formulation as well as the effective implementation of these strategiesalso forms an important part of the overall business plan” of the companies or the businessorganizations concerned. It is to be noted that organizational performance is another factorwhich the various companies as well as the business organizations take into consideration.This essay intends to give an overview of the Australian company “Victorian TaxiAssociation” and the factors which affect their business.The “Victorian Taxi Association” also known by the acronym VTA is one of themajor taxi service providers in the country of Australia (Victaxi.com.au, 2018). Thisparticular association has been in business in more than 50 years and is known for providingquality services to the customers of the nation of Australia (Victaxi.com.au, 2018). Theassociation was started in the year 1972 by the cab driver Andrew Gilmartin who is currentlythe head of operations for this particular association (Victaxi.com.au, 2018). It is to be notedthat it is a “member based organization” and is known for advocating the rights of “itsmembers and promotes the work of the taxi industry” (Victaxi.com.au, 2018). Theassociation aspires to make its members or participants know their rights as well asresponsibilities related to the Australian government and its legislation. The association isalso known for representing the taxi industry to the general public, “responding to relevantnews and announcements and trying to get the word out there about the great work” of their

2MANAGEMENT AND BUSINESS CONTEXTmembers or participants (Victaxi.com.au, 2018). It is to be noted that the association is alsoknown for its initiative in the genre of identification of new areas of opportunities and alsofor collaborating on behalf of its various members with the local governments. Therefore, itwill not be too far-fetched “to say that the interventions of this particular association hasmade the taxi service facilities a much reliable mode of transport for the Australian people”(Mulley et al. 2012). According to an estimate, this particular association “generates $820million is fare revenue each year” engaging more than 17,000 people from different parts ofthe nation, which accounts for over 40% jobs in this particular industry (Victaxi.com.au,2018). Thus, kit can be said that this particular association forms one of the wheels aroundwhich the machinery of the Victorian economy revolves.The internal as well as the external environment in which a particular company orbusiness organization operates in wields a significant influence on the business of thecompany or the business organization concerned. It is to be noted that the various companiesas well as the business organizations often take the help of the framework of SWOT analysisfor the purpose of the analysis of the internal environment of their company (Yuan, 2013).The strength of the Victorian Taxi Association can be said to be the fact that it has been inbusiness for the past 50 years and holds a name which is trusted in the Australian transportindustry. The association is also known for effectively managing the various individual taxidrivers in the Victorian region. In addition to that, the quality services provided by theassociation also acts as one of its strength. The weakness of the Victorian Taxi Associationcan be said to be the fact that in the recent times the association has failed to effectivelymanage the various disputes related to the transport industry. A typical example of this is the$2 extra levy tax imposed by the government of Australia on the taxi drivers (ABC News,2018). The present economic condition as well as the lifestyle of the Australian people acts

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