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Report Of Business Environment Of British Airways - Vision, Mission

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Added on  2020-02-05

Report Of Business Environment Of British Airways - Vision, Mission

   Added on 2020-02-05

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BUSINESS ENVIRONMENT1
Report Of Business Environment Of British Airways - Vision, Mission_1
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 Identification of purpose of different organizations..............................................................31.2 Identify stakeholders and impact of challenges to stakeholders ..........................................41.3 Responsibilities towards stakeholders...................................................................................52.1 Economic systems that allocating resources effectively........................................................52.2 Impact of fiscal and monetary policies..................................................................................62.3 Impact of competition policies and legal challenge on airline industry................................6Task 2...............................................................................................................................................73.1 Impact of market structure on pricing and demand...............................................................73.2 British Airlines responses on competitors strategies and market forces................................73.3 Impact of working practices and culture on British Airline.................................................84.1 Impact of Global changes of WTO and International Civil Aviation....................................94.2 Impact of government regulations on British Airways..........................................................94.3 Explain the impact of EU policies on travel, competition and aviation on B.A. ...............10Conclusion.....................................................................................................................................10References......................................................................................................................................12...................................................................................................................................................132
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INTRODUCTIONBusiness Environment is a combination of various internal as well as external factors thatinfluence business directly or indirectly (Klapper, Lewin and Delgado, 2011). These factors canresult in favourable as well as unfavourable effects on the business. In other words, businessenvironment is a set of social, economic, political, technological and legal factors that impactbusiness operations to a great extent. British Airways (BA) is the largest airline in the UK. It wasformed by UK government in 1972 to manage two nationalized and two regional airlines. Afterthat, from 1974, all four companies were merged into one that is British Airways. It is the secondlargest airline company in Europe and also listed in Landon Stock Exchange (About BritishAirways, 2016). This report is all about the vision, mission and objectives of BA. It also includesthe discussion about various stakeholders and challenges faced by them in the context of BA.Report will also include explanation about economic system, fiscal and monitory policies ofBusiness environment followed by BA and how BA faces legal as well as political challenges.Lastly, market structure of airline industry as well as global challenges faced by the organizationhave been analysed.TASK 11.1 Identification of the purpose of different organizationsDifferent types of organizations and their purposes.Sole traders – Under sole trader, decisions are taken by one person that is the mainfounder or owner of organization with limited liability. Sole trader is responsible for theensuring the availability of finance and purpose of such business is to make maximumprofit (Botha, Kourie and Snyman, 2014).Partnership – This type of organizations are formed by minimum 2 and maximum 20partners. The purpose behind opting partnership firm is that partners can share their skillsand workload. Along with this, partners can also enjoy the limited liability.Companies – It is a legal entity that is separated from its shareholders. Purpose behindsuch type of organization is that it can raise large amount of capital and share limitedliabilities. A great example for this type of organization is British Airways (Cavusgil andet.al., 2014).3
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Mission and vision of British AirwaysMission of BA is to develop good customer relationship and increase profit marginsthrough new schemes.Vision of BA is to carry business activities that result in overall corporate success(Popescu, 2013).Long and short term objectives of BA- Long term objective of BA- One of the long term objectives of BA is to become world'sleading global premium airline. This can be done by delivering outstanding services andbuilding relationships with consumers. Improving their presence in global cities alongwith enhancing their margins through new revenue streams are also long term objectivesof the company.Short term objectives of B.A - Short term objectives of BA are to build leading position inin the UK market and to launch advance fright facilities. In short term, BA aims to bemore specific for human aspects and job recruits as well as to make good relationshipwith customers (Rainey, 2010).1.2 Identify stakeholders and impact of challenges to the stakeholders Stakeholders are the persons who have stake in the organization and share a vital interestin the business activities of BA. Stakeholders can be employees, suppliers, directors etc. of theorganization. Employees- Employees are the primary stakeholders as they are involved in economictransactions of BA (Grassl, 2012). Employees are the persons who want job security,better salary etc. from the organization. Effect of challenges on employees- Recession impacts employees by cutting down there basicpay or sometimes in recession, employers can fire them also.Suppliers – Airbus and Boeing are the major suppliers of BA’s aircrafts. They provideproducts and services that are used to deliver end products to the customers. Suppliers arealso primary stakeholders as they are involved in the economic transactions oforganization (Onyido, Boyd and Thurairajah, 2016). Effects of challenges on suppliers – Increase in global passenger traffic is impacting suppliers.4
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