Business Ethics and Sustainable Practices
Added on 2020-02-05
16 Pages4750 Words458 Views
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BUSINESS ENVIRONMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3a. Purpose of different types of organizations........................................................................3b. Extent to which Zara meets the objectives of its stakeholder groups and explaining theresponsibilities of Zara and strategies employed to meet them..............................................4CONCLUSION................................................................................................................................5TASK 2............................................................................................................................................6INTRODUCTION...........................................................................................................................6A) Economic system and impact of fiscal and monetary policies..........................................6B) Impact of competition policy and other regulatory mechanisms on business activities...7C) Judging business environment and cultural environment.................................................8E) Market structures determine pricing and output decisions and organizational response tomarket forces..........................................................................................................................8TASK 4............................................................................................................................................9A) Significance of international trade....................................................................................9b) Impact of global factors and EU policies.........................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness environment can be stated as the combination of both internal and externalfactors that affect the operations of firm in the market. However, there are differentsignificant aspects of internal and external factors that assist in improving the strengthof employees with an aim to attain the desired goals. Here, in the current study, ZARAhas been chosen that is a big brand name in fashion industry (Schaffer, Agusti andDhooge, 2014). Vision of firm is to provide new designs made from quality materials toits clients and that too at affordable prices. Business also sets challenges forcompetitors as ZARA has differentiated its products and positioned them in the marketuniquely.TASK 1a. Purpose of different types of organizationsThere are different types of organizations that possess different purposes. These areas follows-Private company- In such type of business, it is essential for the managementto make quick decision so that the best products can be developed in order toattract the consumers. Zara is a privately owned company which works mainlyto satisfy the needs of their clients. The main purpose of firm is to continuouslybring innovation in their products with an aim to enhance their experience. Also,business provides quality materials to customers that are even affordable. Thus,it gives Zara to develop a competitive edge over other rivals (Ferrell andFraedrich, 2014). Public company- Further, such type of enterprise is regulated by thegovernment bodies. However, they are formed in order to support thedevelopment and growth within country. Main aim of such type of firm is just notto earn profits but to develop the weaker groups of society. Thus, it helps inproviding numerous opportunities to such group in order to enhance theirstandard of living (Types of business organizations. 2014). NGO- Here, it provides help and support to weaker section of social group so
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