The Impact of Fiscal and Monetary Policies | Repot
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Added on 2020-02-05
The Impact of Fiscal and Monetary Policies | Repot
Added on 2020-02-05
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BUSINESSENVIRONMENT
TABLE OF CONTENTSINTRODUCTION......................................................................................................................1TASK 1......................................................................................................................................1AC 1.1 Organisational purpose of business...........................................................................11.2 Objectives of different stakeholders in Iceland Supermarket..........................................21.3 Responsibilities and organizational strategies to meet the stakeholder objectives.........3TASK 2......................................................................................................................................42.1 Different economic systems attempts to allocate resources effectively..........................42.2 Assess the impact of fiscal and monetary policy on Iceland Supermarket and theiractivities.................................................................................................................................42.3 Evaluation of impact of competition policy and other regulatory mechanism onactivities of Iceland Supermarket ........................................................................................5Task 3.........................................................................................................................................63.1 Explaining How market structure determine the pricing and output decisions ofbusinesses..............................................................................................................................63.2 The way in which market forces shape Iceland Supermarket responses.........................73.3 The business and cultural environments shape the behaviour of business......................7TASK 4......................................................................................................................................84.1 Significance of international trade to Iceland Supermarket ...........................................84.2 The impact of global factors on an organization.............................................................94.3 Evaluate the impact of policies of the European Union on Iceland Supermarket.........10Conclusion ...............................................................................................................................11REFERENCES.........................................................................................................................12
INTRODUCTIONBusiness environment comprises all the internal as well as external factors that affectthe organization operations in both the direction. Internal factors prevails inside the businesscorporation hence, it can be controlled by the business. However, external factors compriseall the market factors that cannot be controlled by the organization (Hamilton and Webster,2015). Iceland Supermarket is a subsidiary company of Associated British Foods shortened toABF. The company was founded in the year 1969 in Ireland trading as Penny's headquarteredin Deeside, Wales, UK. In the year 2000, there were 100 Iceland Supermarket stores acrossBritain and Ireland. By year 2012, total 238 Supermarket branches are operating across UK,Ireland and Europe. Present project report will helps to understand the business environment of theSupermarket in which the business is operating. The report will helps to determine theorganizational purpose of business. Moreover, the report will discuss the stakeholders of thebusiness with their interest and how they are satisfying. On contrary, the types of economicsystem and the impact of fiscal and monetary policies and other regulatory mechanism willbe discussed in the report. Furthermore, the report will determine the role of market structurein pricing and output decisions. At last, Importance of international trade with the impact ofglobal factors on Iceland Supermarket will be analysed. TASK 1AC 1.1 Organisational purpose of businessIceland Supermarket: It is a UK retail supermarket chain, established in the year1969. It sales frozen and non frozen grocery items in the market. Frozen goods compriseprepared meals and vegetable products while non frozen items involves meat, dairy and otherkind of dry products in UK food market. The organization mainly aims at providing bestquality of products to the customers so as to enhance their returns (Cetindamar, 2015). Theorganization is regularly satisfying the customer demands that help to achieve greater thereturns for the business. KFC: Kentucky Fried Chicken (KFC) is the world second fast food restaurant chainafter McDonald, headquartered in Gardiner Lane Louisville, Kentucky in the United States.The restaurant chain provides specialised fried chicken products to large number ofcustomers. The organizational objectives is to enhance the market share, increase their profitmargins and provide greater the return on investment. Achieving the business objectiveshelps to ensure organizational growth of the business. 1 | P a g e
Transport for London: TFL is a local government body that is responsible forproviding transport services to the customers. Headquarter of TFL is established in WindsorHouse, Victoria Street, Westminister, UK. The primary objectives of the organization are toinvest billions of amounts in capital transport network. It aims at providing best quality oftransport services to the consumers (Walraven, Laenen and D'haeseleer, 2015). Therefore,organization is making transport strategy and manages the transport system effectively. Cancer Research: It is the world's largest charitable organization that has beenestablished in the year 2002 in UK. It was established through merging two organizations thatare Cancer Research Campaign and the Imperial Cancer Research fund. The purpose of theorganization to aware the citizens about the cancer disease in order to reduce the number ofdeaths caused by cancer. 1.2 Objectives of different stakeholders in Iceland SupermarketThere are number of internal and external stakeholders existed in the IcelandSupermarket. Their objectives are describing here as under:Customers: The customers are the source of generating income and profit for thebusiness. Therefore they utilize the products and services offered by Iceland Supermarket.Iceland Supermarket is fulfilling their objectives through providing various kinds ofqualitative products and services at affordable prices (Baldwin and Scott, 2013). Employees: workers are engaging in providing products and services to the users.Therefore, they are the internal stakeholder of the company. In Iceland Supermarket, theirobjectives are satisfying through providing better monetary terms, better workingenvironment and working culture. Suppliers: They provide credit to the business therefore as an external stakeholder;they have the objectives to ensure security of their credit (Chiang and Chen, 2015). Increasedprofitability and good creditworthiness of Iceland Supermarket helps to satisfying thesupplier’s objectives to a great extent. Managers: Running the business operations successfully is the primary responsibilityof managers. As an internal stakeholder, they have the objectives to maximize theirremuneration, better pay scale and recognise their position in the organization. Government: Government generate tax incomes on the business profits havingobjectives of getting larger and regular the tax incomes ensure legal business practices,business development and creating jobs. Iceland Supermarket is satisfying the governmentobjectives by paying regular the tax charges and employing number of people in theorganization helps to reduce unemployment rates (Kumar and Siddharthan, 2013).2 | P a g e
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