Contemporary Issues in Business Management
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Added on 2019-12-18
Contemporary Issues in Business Management
Added on 2019-12-18
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CONTEMPORARY ISSUES IN BUSINESS MANAGEMENT
TABLE OF CONTENTSINTRODUCTION .........................................................................................................................3Brief overview of the primary external influences to which the organization is subject andimportance of these elements ......................................................................................................32.1 Political .................................................................................................................................32.2 Economical ...........................................................................................................................42.3 Socio cultural ........................................................................................................................42.4 Technological ........................................................................................................................42.5 Legal .....................................................................................................................................52.6 Ecological..............................................................................................................................52.7 Porter's Five forces Model ....................................................................................................6TASK 2 ...........................................................................................................................................63.i Relevance of Ethical standards and codes for Cargill organization .....................................63.ii Critical evaluation of organizations response ......................................................................83.iii Areas of improvement .......................................................................................................11CONCLUSION .............................................................................................................................13REFERENCES .............................................................................................................................14APPENDIX....................................................................................................................................162
INDUSTRY SELECTED :- Agriculture and animal production industryINTRODUCTION Agriculture is an activity which is carried out for producing food products. Differentpractices including cultivation and breeding of plants are carried for doing farming (Gray,2016). Present report is based on Cargill which is a leading agriculture and animal productioncompany of UK which offers food, animal and agriculture products to buyers. Millions ofconsumers are getting benefited from the superior quality commodities that are offered by theorganization. The report mentions about diverse range of primary influence to which theorganization is subjected. significance of these elements have been described in the report. TASK 1Brief overview of the primary external influences to which the organization is subject andimportance of these elements Functional and operational activities of Cargill Company are affected by diverse range ofprime influence. It is assertive that impact of these elements should be considered while makingaction plans for operating the enterprise. Presently, more than 150000 staff members are workingin the enterprise and the organization is operating in more than 70 countries. Company workswith the objective to operate globally and connect locally. Green technologies are used by theentity for ensuring sustainability of the environment. Organization provides animal foodingredients, aqua nutrition, grain and oil seed products, agriculture and other poultry processingproducts for the consumers. Primary external influence that affects the organizational functioningare as mentioned :- 2.1 Political Political factors- It can be assessed that there are different rules and regulationsformulated by UK government and thus it is essential for the businesses to operate effectively bycomplying with laws and regulations. Hence, it is significant for agricultural firm to identify lawsmade by government in relation to protect the environment and animals (Tomlinson, 2013). Ifthey are affected then the businesses faces issues and they will be penalised for such act.Therefore, each and every agricultural company operating within animal farming are required toidentify the norms and regulations that have been formed by the government. 3
It is mandatory that policies and guidelines given by the government should be compliedproperly. Operational activities of the enterprise gets influenced by changes made by governmentin existing norms and due to that impact is observed on the functional activities that areperformed in the company (Lim, Antony and Albliwi, 2014). Many policies and norms havebeen made by government which are essential to follow for the organizations that are working inagriculture and animal production industry. It is assertive that negative impact on environmentshould be reduced for ensuring better future for new generation. 2.2 Economical Changes happening in external business environment affect the performance of CargillCompany. For example, inflation and deflation situations give impact on purchasing capacity ofbuyers. Impact on the Buying behaviour is observed and due to that sales activities of theenterprise gets affected. In addition to that, changes made in existing monetary and fiscal policyalso affects business functioning (Handford, Dean and Campbell, 2014). Changes in GDP andeconomic growth rate also affect the sales of products and financial performance of the entitygets affected. 2.3 Socio cultural Cargill organization offers superior quality agriculture and animal products to consumers.Culture is a system of shared beliefs, customs and values behaviour pattern that exist in thesociety (Nestle, 2013). Some prominent elements of culture includes language, religion andmoral values, manners and customs, education and other cultural institution, norms and customsthat are followed in society. 2.4 Technological Advancements and innovations in the technical sector affects the functioning of businessand due to that impact is observed on overall financial performance of the enterprise. Manyorganizations which are working in the agriculture and animal production industry are adoptingE-business and E-commerce platform for selling products. It is supporting in enhancingefficiency of business practices (Kuchiki, Gokan and Maruya, 2017). large number ofconsumers can be sold diverse variety of food products that are manufactured by the enterprise. 4
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