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The Dynamic Nature of Business

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Added on  2020-10-22

The Dynamic Nature of Business

   Added on 2020-10-22

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CONTEXT OF BUSINES
The Dynamic Nature of Business_1
Table of ContentsINTRODUCTION...........................................................................................................................3L O 1 ...............................................................................................................................................3Dynamic nature of business........................................................................................................3L O 2...............................................................................................................................................5Need for organisation to behave ethically in relation to various issues......................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONBusiness refers to the activity of producing goods or services to earn profits. There arevarious forms of business such as sole proprietorship, partnership, companies, franchises,cooperatives etc. Tesco was founded in year 1919 by Jack Cohen. The Report will outline thethe dynamic nature of business due to the changes that are happening in the dynamic world. TheReport will also describe the need for organisation to behave in ethical way in relation withsocial, environmental and economic issues.MAIN BODYL O 1 Dynamic nature of business.The term dynamic refers to continuous changes that are happening in the business. Thebusiness environment in which company is operating is dynamic because, the need and demandof customers changes regularly. A business can become successful only when it has ability tofulfil the changing needs of the buyers(Souto, 2015). The business environment keeps onchanging on in terms of the technology of producing goods or services, changes in demand ofproducts, new competitors etc. Business environment can be divided in two parts that is microenvironment and macro environment.Micro environment-It includes the factors that directly impacts the organization performance. There arevarious micro factors such as-Competitors-Companies should consider the type of products other companies are offering. So that, it candevelop innovative products to gain competitive advantage.Customers-Before, entering in global market. Every business have to conduct market research. So that, itcan offer products according to needs of targeted buyers.Employees-Companies should provide training opportunities to employees. So that, organization will getsuccess at global level also.Macro environment -
The Dynamic Nature of Business_3

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