Assignment: Business Environment Analysis Of British Airways

Added on - 03 Dec 2019

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Business environment1
TABLE OF CONTENTSTable of Contents.................................................................................................................................2Introduction..........................................................................................................................................4Task 1...................................................................................................................................................41.1 Purposes of different types of organizations as well as mission, vision and objectives ofBritish Airways............................................................................................................................41.2 Impact of different stakeholders on the business of British Airways....................................61.3 Policies and practices followed by British Airways to fulfill its responsibilities towardsstakeholders.................................................................................................................................7Task 2...................................................................................................................................................82.1 The way in which economic system helps in allocating resources in an effectual manner...82.2 Challenges faced by British Airways due to fiscal and monetary policies..........................102.3 Impact of legal, regulatory and competition policies on British Airways...........................10Task 3.................................................................................................................................................113.1 Evaluating the impact of market structure on pricing strategy of British Airways as well ason the demand of customers......................................................................................................113.2 Describing the impact of various players and market forces on shaping the organizationalresponses....................................................................................................................................123.3 Explaining the impact of cultures and working practices of countries on British Airways14Task 4.................................................................................................................................................154.1 Significance of international trade in the context of British Airways.................................154.2 Global factors that influence the development and growth of British Airways..................164.3 Impact of policies of European Union on British Airways.................................................18Conclusion..........................................................................................................................................18references............................................................................................................................................192
ILLUSTRATION INDEXIllustration 1: Mission and vision of British Airways......................................................................6Illustration 2: Stakeholders of British Airways...............................................................................7Illustration 3: Practices followed by BA related to stakeholder engagement..................................83
INTRODUCTIONIn order to gain success in this competitive world, it is essential for the organization toanalyze their internal and external environment of business. Analysis of business environment isbeneficial for business entity to identify internal and external factors that may have positive andnegative impact on its development and growth (Cini and McGowan, 2008). With the help ofthese factors, management will be able to make better strategies and policies for gettingcompetitive advantage. Further, identification of business environment is also helpful forcommercial entity to expand its business in the international market. In this manner, this report isfocused on describing the impact of business environment on the policies and practices of BritishAirways which operates its business at the international level.TASK 11.1 Purposes of different types of organizations as well as mission, vision and objectives ofBritish AirwaysThere are different types of organizations which conduct business for fulfilling theirvarious purposes. These firms are as follows:PartnershipPartnership includes the procedure of combining two or more commercial entities inorder to enhance their profitability and revenue (Balmer, 2006). Partnership is focused ondividing the authorities and responsibilities among different partners of business.CompanyCompany can have one owner or board of directors who are responsible for assigningresponsibilities and authorities to different departments. According to law, there must be at leastone employee in a company (Grundy and Moxon, 2013). Main purpose of firm is to gain profitby performing their business activities in an effective manner.Sole tradeSole trade is a cheaper way to conduct business in which owner and manager isresponsible for dealing with customers (Upchurch, 2010). It is not necessary to have employeesin this business. In sole trade, individual’s tax rate is followed to pay the income tax.4
British Airways is one of the reputed and leading airline companies in United Kingdomwhich is focused on providing better quality of air services to its customers (Hummels, 2007).Main aim of firm is to satisfy its business class and economy class customers for getting betteropportunity to create it more popular in the market.Mission of British AirwaysMission of British Airways is to fulfill their responsibilities towards customers,employees and environment by rendering them sustainable and high quality of services.VisionVision of British Airways is to create a leading position in the market for gainingcompetitive advantage.To enhance the profitability and revenue of business by improving the quality of itspractices and performance (Trebilcock and Howse, 2005).To create a positive brand image among customers and general public.Short term and long term objectivesShort term objectivesLong term objectivesTo adopt new and innovativetechnology for performing theirpractices in an effective manner(Upchurch, 2010).To manage their human resourceseffectively for enhancing theirproductivity.To maintain a strong relationship withits stakeholders.To improve their quality of services forrendering outstanding and memorableexperience (Useem, 2014).To ensure the standards of safety andsecurity for enhancing the level ofcustomer welfare.To enhance its profitability and revenuefor satisfying its partners andshareholders.5
1.2 Impact of different stakeholders on the business of British AirwaysIt is also one of the objectives of British Airways to ensure the rights of its stakeholderswith maintaining their growth and development. There are various stakeholders in case of thisairline firm:CustomersIn case of British Airways, there are two types of customers including business classclients and economy class passengers (Stakeholders of British Airways,2013). For satisfyingtheir both types of customers, management of company is focused on rendering better quality ofair services at competitive and reasonable price.PartnersIn today's competitive world, it is essential for British Airways to maintain therelationship with their partners such as communities, colleges, suppliers and non-governmentalorganizations. In order to develop a strong relationship with them, it is required for themanagement to ensure profit of them in a proper way (Balmer, 2006).EmployeesManaging their human resources in an effectual manner is one of the main objectives ofcompany. For that, British Airways always try to understand the needs and expectations of their6Illustration1: Mission and vision of British Airways(Source: Upchurch, 2010)
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