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Project on Impact of External Business Environment on Company Performance

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Added on  2020-06-05

Project on Impact of External Business Environment on Company Performance

   Added on 2020-06-05

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UnderstandingBusiness
Project on Impact of External Business Environment on Company Performance_1
Table of ContentsINTRODUCTION...........................................................................................................................1Main Body.......................................................................................................................................11. Three areas of business which are influenced by Brexit.........................................................12. Use of social media in increasing productivity, sales or profits.............................................23. Communication issues for international business which occurred due to cultural differences.....................................................................................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
Project on Impact of External Business Environment on Company Performance_2
INTRODUCTIONA business can achieve success with the help of contribution of an individual or group ofperson in order to achieve desired financial goals. The efforts of an individual will decide therevenue of company as they help in selling products and services to customers in an effective andefficient manner. Marks and Spencer, a UK company which deals in providing household, clothproducts across worldwide. The project covers the impact of external business environment onthe performance of company. The assignment report also covers the impact of climatic changesalong with the effective use of social media for revival of business (Cuervo-Cazurra andRamamurti, 2014).Main Body1. Three areas of business which are influenced by BrexitBrexit described as a situation in which UK government make decision regarding leavingEuropean Union. In other words, the UK government withdraw their responsibilities from theEuropean Union. A referendum has been passed in which about 51.9% are voted in favour of UKto leave European Union thus the prime minister who are against such decision were steppeddown and further elect Theresa May for the purpose of leading the country. It makes huge impacton the functioning of the business organisation. The influences and effects faces by EuropeanUnion after leaving Britain are as follows:Less foreign investment: The major impact faced by European Union is that the UnitedKingdom are longer considered as business Hub. The interest of investors to invest money inUnited Kingdom goes down due to which the country faces large amount of financial crisis. Tocooperate and handle such situations, the finance minister of UK put their maximum efforts inorder to stable the economy. The minister has decided to reduce corporate tax by 20% in order toinvite large number of people to operate their business operations in the country. Less interest ofpeople in operating business in UK will influence the economy of country as well. Decrease inthe number of foreign direct investment will make huge impact on the productivity of thecountry and thus failed to introduce new and advanced technology in the country. Thus, it hasbeen observed that foreign investment brings more difficulties for country to attain stable potionsin business world (Maylor, Blackmon and Huemann, 2016). The government of UK shouldrequired to focus on adopting VAT system in order to pressurize business organisation due to1
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