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Significance of International Trade- UK Business

   

Added on  2020-01-28

17 Pages5358 Words86 Views
BUSINESS ENVIRONMENT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Identify the purposes of different types of organisation.......................................................11.2 Describe the extent to which an organisation meets the objectives of different stakeholders.....................................................................................................................................................21.3 Explain the responsibilities of an organisation and strategies employed to meet them........3TASK 2............................................................................................................................................42.1 Explain how economic systems attempt to allocate resources effectively............................42.2 Assess the impact of fiscal and monetary policy on business organisations and theiractivities......................................................................................................................................42.3 Evaluate the impact of competition policy and other regulatory mechanisms on theactivities of a selected organization............................................................................................5TASK 3............................................................................................................................................63.1 Pricing and output decisions of businesses...........................................................................63.2 Ways in which market forces ascertain organizational responses........................................73.3 Impact of environmental factors on Primark........................................................................9TASK 4..........................................................................................................................................104.1 Significance of International Trade.....................................................................................104.2 Impact of Global Factors.....................................................................................................114.3 Impact of EU Policies.........................................................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14

INTRODUCTIONBusiness Environment is constituted of the set of different attributes of society, economy,politics and other institutions which exists in the market. It is an aggregate of all the events andconditions which exist and has the potential to affect the manner in which a business isfunctioning. It encompasses all the external factors to which a business enterprise is exposed,either directly or indirectly. It order to survive in a market, every entity is required to fightagainst all the challenges, in addition to the complex and dynamic elements of the externalmarket. In order to enhance the understanding in relation to business environment the presentreport analyzes Primark, and makes an attempt to understand its objectives as well as purpose forexisting in the market (Delahaye, 2015). Further, the economic systems of Cuba, UK and Chinahave been explained, in addition to the impact of fiscal and monetary policies. In the nextsegment, different market structures of perfect competition, oligopoly and so on have beenexplained, along with the market forces which prevail in each one of them. Lastly, thesignificance of international trade has been elaborated particularly in context of the UK businessmarket, in addition to the impact of Brexit (Storey, 2014). TASK 11.1 Identify the purposes of different types of organisationIn the UK, various types of organisation are working and they all have their own structurewithin they fulfil their business operations in an effective manner. It can be either a public,private or partnership limited, NPO, corporate trust etc. Every company adopt its enterprise kindon the basis of their work nature, business aims (Purce, 2014). Primark is a private limitedcompany who provide grocery products to their consumers and it is also provided their servicesto public. Here different type of organisations are listed as follows:Private company: A company which is formed for generating profits and provide bestservices to their customers, often called a private limited company. Primark falls under this kindof enterprise in which they always try to provide best and qualitative products to their customerswith innovative once. Company's innovative strategies assist for them to cover long area ofmarket. In this type of organisation, no government authorities are included and fewerrestrictions are their, this assist for private owners to always add some innovative in their

working style. Primark and other private owners run their business own and within the group toachieve their business objectives (Harper, 2015).Public Company: In this type of companies run by government owners which alwaysseeks to provide services to the public of country. British airways falls under this kind and mainaim of this company is to provide their shares to their local public and also serve them to provideravishing services.Charity: This type of organisations provide free services to their public or whom theymay not able to afford it. NHS is the best example who provide their services to people withaffordable price and also not take any single amount from whom they not capable financially(Butler and Wilson, 2015.).Co-operative Firms: This kind of companies made for providing services to their nativesand for this, they not receive single amount from them. Daily bread is the best example of co-operative firm which work for farmers benefits. Company always provide several benefits inwhich farmers buy equipments and raw-material with very affordable price (Clegg, Kornbergerand Pitsis, 2015).1.2 Describe the extent to which an organisation meets the objectives of different stakeholdersAs per the above discussion, private limited company is formed to made more profitswhich assist to enhance their business in more effective way. Primark have internal and externalboth stakeholders, they put their extra efforts to meet their business objectives. Creditors, debtorsand many others' stakeholder play a crucial role in the organisation who always contribute intheir work. Few of these are added in this which play a crucial role in the entity (Haeckel, 2013).Customer: For Primark, customers is the main player who contribute in organisationsuccess. This is very important for the entity to meet with their satisfaction level. Forthis management must evaluate their expectation level from the entity. This is alsoimportant for management to design their production according to their customer needsand requirements. Primark and its management also provide large number of discountfor their customers and this is also helpful for build better relationship with them(Roberto, Cawley and Brownell, 2015).Employees and workers: They are also backbone for entity in which company workingis depends on. Manager of Primark always concern with their employee in which theyprovide various benefits, safe environment and positive working attitude which assist to

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