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BUSINESS EVIRONMENT INTRODUCTION 3 TASK 13 1.1 Identification purpose or objectives of various kinds of businesses

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BUSINESS EVIRONMENT INTRODUCTION 3 TASK 13 1.1 Identification purpose or objectives of various kinds of businesses3 1.2 Objectives of various stakeholders which needs to meetbyan organisation 4 1.3 Accountability of the firm and strategies used by it to achieve objectives of shareholders5 TASK 26 2.1Explain how economic system attempt to allocate resource effectively6 2.2 Asses the impact of fiscal and monetary policy on business organisation and their activities7 2.3 Evaluate the impact of competition policy and otherregulatory mechanism on the activities 7 TAS

BUSINESS EVIRONMENT INTRODUCTION 3 TASK 13 1.1 Identification purpose or objectives of various kinds of businesses

   Added on 2020-01-28

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BUSINESS EVIRONMENT
BUSINESS EVIRONMENT INTRODUCTION 3 TASK 13 1.1 Identification purpose or objectives of various kinds of businesses_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Identification purpose or objectives of various kinds of businesses................................31.2 Objectives of various stakeholders which needs to meet by an organisation...................41.3 Accountability of the firm and strategies used by it to achieve objectives of shareholders................................................................................................................................................5TASK 2............................................................................................................................................62.1Explain how economic system attempt to allocate resource effectively...........................62.2 Asses the impact of fiscal and monetary policy on business organisation and theiractivities..................................................................................................................................72.3 Evaluate the impact of competition policy and other regulatory mechanism on theactivities..................................................................................................................................7TASK 3............................................................................................................................................83.1 Determination of Pricing and Output Decisions of Businesses........................................83.2 Ways of organizational Responses...................................................................................83.3 Impact of Business and Cultural Environments...............................................................9TASK 4..........................................................................................................................................104.1 Discuss the significance of international trade to UK business organisation.................104.2 Analyze the impact of global factors on UK business organisations.............................114.3Evaluate the impact of policies of the European union on UK business organisations. .11CONCLUSION..............................................................................................................................12
BUSINESS EVIRONMENT INTRODUCTION 3 TASK 13 1.1 Identification purpose or objectives of various kinds of businesses_2
INTRODUCTIONBusiness environment consist the combination of internal as well as external factors that aremajorly influenced the company’s operating activities. It involves a various aspects that mayinclude in it are includes in the internal factors: Clients, Competition, Suppliers and employees.Beside this, there is an external aspects that are mainly consists of legal, social, political,technological and culture factors. The research project is context to the Sainsbury Company Plcin the UK and they formulated their business strategy by considering the business environmentfactors. Thus, there is a mainly discussion on the identification on the various different type oforganisation purpose and description on the extent to which the business firm can able to attainobjectives of various stakeholders. Furthermore, explanation on the various responsibilities ofthe organisation and strategies employed to meet the objectives. Thereafter, there is also a studyon the economic system that allocating the resources in effective manner. The research reportsalso assessing how the fiscal as well as monetary policy on the business and its activities. Thus,there is an also study on determining of the Pricing and Output Decisions of Businesses. Alongwith that, there are various ways of organizational Responses as well as impact of Business andCultural Environment.TASK 11.1 Identification purpose or objectives of various kinds of businessesIn the corporation world, there are several numbers of companies and firms operate withthe various purposes as well as objectives. In the business environment list of factors also affectsto them in order to run in the industry smoothly. Several kinds of firms are such as charity sector,private, public, voluntary, cooperative etc. Among them some are explained as below:Public sector businesses: Those kinds of business entities which are regulated by the authoritybody such as government and different rules as well as regulations also imposes on them areknown as public sector (Mason and Harrison, 2015). These types of companies have not wholeownership and liabilities with the owner. It regulates and run by the government and profitablefor the local community up to greater extent.Purpose and objective of such kind of companies is such as to provide high quality ofproducts and services at the lower and effective cost. Along with this, it operates for the welfareand ignore profit aspect. For example: Tesco Plc, Primark Plc, NHS and Sainsbury company etc.
BUSINESS EVIRONMENT INTRODUCTION 3 TASK 13 1.1 Identification purpose or objectives of various kinds of businesses_3
Private sector businesses: Another types of companies which operate in the industry is of privatesector in which all the liabilities as well as ownership is with that person who is owner of firm.When such companies want to take any kind of business decisions then it not needs to follow anylegislations or rules.These kinds of business entities operate in the industry or market with the purpose ofprofit maximization and enhance market share. For example: Iceland supermarket etc.Charity sector firms: Furthermore, companies which are not having any kind of purpose relatedto the profit, market share or any other and provide products and services for welfare of societyare identified as a charity sector enterprises (Peng, 2016). Key objective or purpose to operateand enter in the industry is to do welfare of the society, empowering women etc. Due to suchreasons such companies are called as non profit firms as well.1.2 Objectives of various stakeholders which needs to meet by an organisationThose persons and humans who are connected and interact with the business environmentin direct as well as indirect manner are known as stakeholders of the firm. There are severalkinds of stakeholders available who takes an important place in the business of Sainsbury PLCwhich are internal and external both. Further, such stakeholders are attached with the entity dueto some objectives which are explained as below:Customers: These are very important and key assets for each and every business firmsand due to this company can operate and survive in the market. If the customers are notavailable and attracted towards a business then it cannot sell its products and services aswell as generate profit. Such kind of stakeholders seeks towards the entity that it provideshigh and better quality of goods and services to them. Along with this their anotherobjective is that firm offers such products and services at the lower and effective cost ascompare to its competitors or rivalries (Werther Jr and Chandler, 2010).Employees: Such stakeholders are also one of the most important for the entity andcontributes up to higher extent. In the company if there are employees not available thenit will not able to convert raw materials into finished products and services. Keyobjectives of employees behind attract and sustain in a Sainsbury PLC is that it gives ahigher salary and wages of the duties which give by them. Apart from this anotherobjectives are that firm give effective allowances, compensations, incentives, rewardsand appreciations in terms of monetary and non monetary etc.
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