Business Environment: A Case Study of Virgin Money

2 BUSINESS
ENVIRONMENT
INDIVIDUAL CASE STUDY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Virgin Money...............................................................................................................................3
Business environment..................................................................................................................4
Global business environments.....................................................................................................4
Relevant theories and models used by Virgin Money.................................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Business environment of the firms and businesses affects the total working of the firm
because internal and external environment affects directly and indirectly the performances of the
firm (Abu-Rumman, A., 2021). Business environment is the sum of all the forces within and
outside of the firm that are affecting the production and working of the firm. Virgin money is the
largest bank of United Kingdom dealing various financial services worldwide with millions of
customers across the countries due to its digital network and providing services worldwide. This
report will include examination of economic environment within which businesses operate in the
United Kingdom. Furthermore, It will also include examination of global business environment
and its impact on the countries and the businesses operating in these countries with relevant
theories and models with proper analysis of the markets and recommending ways to improve the
performances for sustainable growth of the firm.
MAIN BODY
Virgin Money
Virgin Money is the banking and financial services with millions of customers worldwide
due to digital networks and markets internationally (Barnish, and et.al., 2018). This bank is
operating in United Kingdom and is the largest bank in the world with its identified brand. This
bank was founded by Richard Branson in march 1995 and also known as Virgin Direct. Virgin
Money is launching personal equity plan into the market. Virgin Money has expanded its scope
and business in 2000s and become a retail bank so all the countries can grab the benefits
provided by this bank regarding the financial services. This bank present aim is to expand its
business establish small and personal banks in the countries so that developing and
underdeveloped countries also get benefited and this bank can earn huge profits in the long run
with sustainable growth due to providing digital platforms to each customer with different
geographical areas for more satisfaction and ease to them for any transactions

Business environment
Business environment are the forces which affects the working of the firm both internally
and externally, they are the aggregate sum of all the factors like employees, customers, suppliers,
competition or external factors like social, legal, economical, technological etc affects the long
term growth and performances of the firm (Keeler, and et.al., 2019). Every firm has different
internal and external environment depends on its working like if the firm has complex products
and huge demands or having international market then this firm has diverse affects of business
environment on the working of its firm. The more the complex the businesses are more will be
the need to investigate the business environment properly and vice versa.
Global business environments
Global business environment are the factors which affects the firm which are dealing in
international markets. Due to internationalisation the companies are facing various factors of
different geographical areas affecting the working of the firms (Teoli, and et.al., 2019). They are
the micro and macro factors like different countries internal and external environments are
different like political conditions are different, every company use different technologies and
ways of producing the products, social factors are different of different areas, legal and political
conditions are ever changing. Various competition and customers demand or substitutes
availability in the global markets affects the working of the firms (Kumar, and et.al., 2021). All
this factors need to first evaluated and investigated carefully for the future long term goals.
Virgin Money is an international or largest bank of United Kingdom dealing with
international customers worldwide. This bank wants to increase its profits with sustainable
growth in the long run by becoming first largest digital bank by providing various small and
personal baking markets worldwide (Abdullah, et.al., 2022). This banks will increase its
performances by creating and opening new branches with small and personal banking online so
that customers will be free from going to banks for small queries all the transactions are done
online with mobile banking app. This digital banking helps the customers to save their time
enjoy various banking facilities provided by this bank. For the sustainable growth and expansion
of the firm this bank need to evaluate its market in which its has to operate both internal and
external markets with relevant theories so that all the pros and cons can be studied and decisions
can be taken for long term and safe profits.