The Business Environment Challenges Doc

Added on - Dec 2020

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The Business environment
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1 – Key issues in the business environment...........................................................................1Task 2 - Possible impact due to the issues.......................................................................................3Task 3 – Reflection.........................................................................................................................5CONCLUSION...............................................................................................................................5REFERENCES................................................................................................................................7
INTRODUCTIONBusiness environment can be describes as a set of internal and external factors that mayaffect the business decisions. It can be divided into two different parts Macro and Microenvironment. The micro environment refers to the internal elements that can be controlled by anorganisation whereas macro environment consist external factor or elements which are not incontrol of the business or firm. The present report will identify major issues in the businessenvironment along with their impact on the personal & household products' industryperformance and activities. The report will a detailed reflection to determine various challengesface in identify the issues and their impact on organisations.Task 1 – Key issues in the business environmentPersonal and household industry is facing various challenges as there are variousorganizations offering same products and services to the customers with slight changes in theprice and quality(Huy and et.al, 2015). The organizations operating in this industry faces varioustypes of issues ad challenges which affect their planning, business activities and performance.These issues and challenges can be described as below -Changing demands of customer– In the present world consumer productsorganizations required to be consumer focused, demand of the products is tends to changerapidly such as preferences of customer are changed in recent years as demand hasshifted toward sustainable and healthier options available. Demand of the products canchange cyclically and economic situations. The profit and success of each everyorganization in food industry is largely dependent on effectiveness of these organizationsin meeting the fluctuating demand in the market.Shrinking operating margins– Along with global competition organizations also facesissues in meeting global price points. This develops more pressure on manufacturer asthey need to make sure the delivery of premium quality items with identifying innovativemethods to reduce the cost. Organizations also needs to focus on other elements such asfluctuating prices of oil and its impact on costs of transportation prices(Stiglitz and et.al,2015).Regulatory and compliance pressuresThe nature of global regulatory environment isgenerally dynamic. Organizations are facing issues or challenges related to non-1
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