Report on Business Environment (Doc)
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Added on 2020-02-03
Report on Business Environment (Doc)
Added on 2020-02-03
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Business Environment
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 The purposes of these organizations.................................................................................11.2 The extent to which it meets the objectives of its different stakeholders...........................21.3 Organization's various responsibilities and ways to meet them.........................................2TASK 2............................................................................................................................................32.1 Different economic systems and allocation of resources along with examples...............32.2 The impact of fiscal and monetary policy on Iceland Supermarket and their activities.....42.3 The impact of competition policy and other regulatory mechanism on the activities ofIceland Supermarket................................................................................................................4TASK 3............................................................................................................................................53.1 Market structures determine the pricing and output decisions of businesses includingIceland Supermarket................................................................................................................53.2 The way in which market forces shape Iceland Supermarket responses using a range ofexamples.................................................................................................................................63.3 The business and cultural environments shape the behaviour of Iceland Supermarket......7TASK 4............................................................................................................................................84.1 The significance of international trade to Iceland Supermarket.........................................84.2 The impact of global factors on Iceland Supermarket.......................................................94.3 The impact of policies of the European Union on Iceland Supermarket............................9CONCLUSION..............................................................................................................................10REFERENCES...............................................................................................................................11
INTRODUCTIONNo business functions in isolation, it is surrounded by number of factors that influencethe working of it. Success and development of business entity depend upon its efficiency tomaintain the impact of both external and internal factors. Sum total of the influence is referred asBusiness environment. Organizations operating in the market cater to earn profitability andexpand its venture by adopting effectual strategy and bringing adaptability with the surroundingbusiness environment. The present report is prepared to elucidate the ways in which anorganization gets impacted by macro and micro environment. For the purpose, a Britishsupermarket chain, Iceland Foods Ltd is taken into account. From more than four decades, it isselling frozen foods and non-frozen grocery items. Along with this, it holds approximately 1.8%market share in the UK food market.TASK 11.1 The purposes of these organizationsIceland SupermarketsType of organisation: PrivatePurpose: It is the privately owned British supermarket chain. Private companies are formed bythe group of people sharing profits and liabilities (Holcombe and Ipate, 2012). They function toearn profits and expand their ventures. Iceland supermarket having the significant share of 1.8%in food market and caters to establish its prominent position by it outstanding personalisedservices.KFCType of organisation: SubsidiaryPurpose: Subsidiary organisations function to comply with the laws and regulation framed bytheir parent brand. KFC is the subsidiary of Yum and is the fastest growing fast food chain in theworld.Transport for LondonType of organisation: Statutory organisationsPurpose: Statutory organisation is created by the act of parliament under specific provision toperform the prescribed functions (Griffin, 2013). They are also referred as public body. Transportfor London is established to provide the good transport facilities to the countrymen.1
Cancer researchTypes-of-organisation: Voluntary organisationsPurpose: Voluntary organisation functions for the specific cause for the betterment of society byaddressing sensitive issues. Cancer research is one such organisation funded by the donation ofpublic and government aid aims to bring better methods of diagnosis, treatment and preventionof cancer.1.2 The extent to which it meets the objectives of its different stakeholdersKey stakeholders of Iceland supermarkets are customers, employees, suppliers andgovernment organisations.1.Customers: Iceland supermarkets cater to provide the customer oriented services andproducts of their choices (Kaufmann and et.al, 2011). They provide wide range of frozenand non frozen items.2.Employees: Central part of operations of Iceland supermarkets are the employees who aredirectly in connection with customers. Iceland supermarket provides better condition towork for them along with providing better career development opportunities throughtraining and development programs.3.Suppliers: Iceland supermarket having stores at every corner of the world has largenumber of suppliers who provide raw materials and fresh goods to them.4.Government organisations: Government has laid rules and regulations for food industryto retain nutrition and freshness that are abided by Iceland supermarkets.1.3 Organization's various responsibilities and ways to meet themRecognized for the quality products and services, Iceland Supermarket complies with allthe responsibilities in different dimensions (Tang and Musa, 2011).Economic: It provides shareholders the optimum level of return on investment to fulfil itseconomic responsibility.Philanthropic: It is engaged in number of philanthropic activities such as having funds fortreating Alzheimer and its research support wounded heroes, charity for children, Antarcticexpedition and many more.Ethical: Iceland supermarkets source its raw materials and foods from licensed sources,uses scientifically safe methods to freeze and ways to seal the essentials and flavours toptimize their services. It also labels the list of ingredients at back of product.2
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