Business Environment Report for Business Strategy and Decisions

This business report delves into the multifaceted business environment, focusing on key elements that shape organizational decision-making and strategic planning. The report examines the influences on business decisions, including economic factors, competition, and technological advancements, using Pets at Home as a case study. It further assesses the impact of business ethics and corporate social responsibility on organizations, highlighting the importance of ethical conduct and social responsibility in fostering stakeholder trust and achieving competitive advantage. Additionally, the report analyzes the effects of technological change on companies, exploring how technology strategies can be leveraged to gain a competitive edge. It provides a comprehensive analysis of the business environment, offering insights into how businesses can navigate challenges and capitalize on opportunities.

Business Environment

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Assessing what influences the business when making decisions and its impact on the
company.................................................................................................................................1
Assessing impact of business ethics and corporate social responsibility on business
organisation...........................................................................................................................2
Assessing effects of technological change on company and its overall technology strategy
as source of competitive advantage.....................................................................................4
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................5

INTRODUCTION
The business environment is the most important aspect for the business organisation
which is sum total of individuals, institutions and other forces which are outside the control of
business enterprise affecting overall performance and business sustainability. It is a collection of
several factors which affects the business operations in positive and negative manner. It becomes
essential for the organisation to analyse business environment for performing business functions
in effective manner and helping in making effective decision at workplace (Akbari, and
McClelland, 2020). The study of policies is known as business ethics which support organisation
management in dealing with corporate and corporate social responsibility. For the report, Pets at
Home is been considered which is British Pet supplier’s retailer selling pet products such as
food, medicine, pets, toys and many more. The headquarter is located in Handforth, Cheshire,
England UK. The report will cover factors influences business when making decision and impact
on the company. On business organisation the impact of business ethics and corporate social
responsibility is analysed. In addition, technological change is assessed on company and its
complete technology strategy as source of competitive advantage.
MAIN BODY
Assessing what influences the business when making decisions and its impact on the
company
The analysis of business environment is considered significant for management when
decision is made at workplace. There is frequent change in business environment which requires
consideration when planning and conducting operations. The management of pet at homes bring
improvement in decision-making process that helps in bringing efficiency & effectiveness in
entire process of organisation. There are several factors which impacts on the operations of
business in context to pet at home which are mentioned below-
 Economic environment- For the organisation it is considered as important as this is
related to the buying capacity of customers and products that people can afford. The
economic conditions affect how well organisation is performing in the marketplace. It
involves the factors of unemployment rates, consumer disposable income, interest rates
etc. While making the decisions the business in context to Pet at home bear in mind that it
must comply with standards (Arli, and et.al., 2019). At the time of financial recession, the
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high prices are imposed on productions. Prices, investment decisions and number of
workers affect level of consumer spending which is employed by business. The increase
in inflation leads to lower purchasing power of consumers which affects the profitability
of pet at home.
 Competition- This is also considered factor which influences the decision-making
process within business organisation. as the market is becoming highly competitive
which is required by pet at home to pay attention on business operations of rivals as to
compete with them in an effective manner. by keeping track of competitors, the business
can increase its market share along with get benefits in evaluating success and challenges.
In context to pet at home through innovation it can provide quality services to its
customers and bring out new products & services. The competition helps business
organisation to take effective decision and employees are motivated which leads to high
performance. It impact business to make wise decisions which helps in designing journey
to sustainability.
 Technological development- The technology continues to advance which benefits the
company in facing challenges in competitive environment by using advance & upgraded
technologies in business organisation. Technology is organised application of technical or
systematized knowledge to practical tasks. It helps in improving internal process and
shapes how business operate in context to pet at home (Duarte, Cabrita, M.D.R. and
Cruz-Machado, 2019). Through technology data collection can be accelerated for helping
business managers as to make quick and effective decisions. In framework to pets at
home the company is capable to gather up-to-date sales data and decision are created
which are based on providing network links between customers and its main
database. The impact of technology development helps business to provide customer with
better quality services and products. It helps in protecting financial data and other
proprietary information leading to competitive advantage in framework to pet at home.
Assessing impact of business ethics and corporate social responsibility on business
organisation
The study of appropriate company practises and policies with respect to theoretically
argumentative issues such corporate governance, insider trading, bribery, discrimination,
corporate social responsibility, and fiduciary responsibilities is known as business ethics. The
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moral concepts that serve as guidelines for how a firm conducts itself and its dealings are known
as business ethics. Ultimately, acting ethically entails deciding what is "right" and "wrong." For
every organisation business ethic is crucial as this helps in ensuring the safety of employees,
maintaining of integrity and fairness of business transactions. In context to pet at homes it results
in superior of products and services (Jacobsen, 2019). It is prescribed as code of conduct for
business which comprises disciplines of loyalty, fairness, trustworthiness, honesty, avoiding
conflicts etc. In context to Pet at home for having smooth functioning of firm it is required to
follow guidelines. The business is required to adopt some social and moral practices as social
culture impacts business ethics. The business ethics is established by organisation in context to
pet at homes for promoting integrity among employees and gaining trust from key stakeholders
such as investors, consumers. The ethical behaviour on the employee perceptions results in
favourable consequences and greater financial results to pet at homes. Through perceived ethical
behaviour employee performance, work happiness, organisational commitment, trust, and
organisational citizenship behaviours are all improved. The businesses are dedicating more
resources to business ethics as to evade adverse allegations along with generates ethical
workplace by employing right talent (Zheng, Ulrich, and Sendra-García, 2021). An organisation
can get a competitive edge with a strong ethical character, which can also aid with recruiting and
staff retention. By removing barriers to communication, it can enhance employee engagement
and create a work environment based on honesty, equality, integrity, and sincerity.
Corporate social responsibility is management concept which boosts businesses to
integrate social and environmental concerns into the daily operations and interactions with
stakeholders. CSR mentions to a business's efforts to equilibrium its obligations to economic,
environmental, and social goals while similarly meet stakeholder and shareholder expectations
(sometimes known as the "Triple-Bottom-Line Approach"). A well-executed CSR concept can
provide a number of competitive advantages to organisation in context to pets at bottom,
including enhanced admittance to capital and markets, enlarged sales and profits, operational
cost savings, improved productivity and quality, an efficient human resource base, enhanced
brand image and reputation, better customer loyalty, and developed decision-making and risk
management processes (Rogan, 2021). In context to pets at home CSR is imperative for a
company's reputation, appealing to clients, staff, and investors, as well as for retaining top
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personnel and achieving total commercial success. Being environmentally responsible and eco-
aware, nurturing fairness, diversity, and inclusion in the workplace, considering employees with
respect, giving back to the community, and making sure business decisions are moral are some
of the ways a firm can adopt CSR. The impact pf CSR on business organisation helps in boosting
employee morale in workplace leading to great productivity. The implementation of social
responsibility initiatives on business in context to pets at home helps in increasing customer
retention and loyalty. CSR has an impact on a company's capacity to draw top talent, as well as
on staff retention rates and work satisfaction levels. People presently entering the workforce look
for firms who have a clear and successful CSR strategy. The CSR activities practice by pets at
home are for pets it offers special care that is share with colleagues and customers (Trautman,
and et.al., 2021). All of the product lines and services that are offer have been precisely crafted
to keep pets happy, safe, and healthy. There is home of pet welfare in which Our skilled pet
team, led by an experienced vet and assisted by three licenced veterinary nurses and specialists,
works to ensure that our policies and practises provide the highest welfare standards for the
animals in our stores. Additionally, pet at home have a dedicated field staff working to
implement the highest standards uniformly throughout all of our breeders and retailers.
Assessing effects of technological change on company and its overall technology strategy as
source of competitive advantage
A technological change is an improvement in a product's or process's efficiency that leads to
a rise in output without a corresponding increase in input. Technical know-how applied in the
creation of equipment and capital is referred to as technological change. The different
technological advancements boost labour, capital, and other production factors' productivity. The
development of new industrial methods, new applications for raw materials, and the widespread
use of technology are all examples of technological progress (Watabe, Murakami, and Nagata,
2022). The impact of t4chnological change leads to creation of new product and processes,
increase of efficiency through lowering down costs. It helps in improving the communication
within organisation in context to Pet at homes as they can receive customer feedback through
electronic communication methods. The change in technology increases employee productivity
as there is use of computer programs and business software which allows employees to process
more information rather than manual methods. Businesses can outsource operations to other
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organisations in the domestic and global marketplace through technological change. The pets at
homes can cut costs and concentrate on finishing the business function they perform best by
outsourcing. Through investments in IT systems that have streamlined everyday activities and
video functionality, connecting in-store workers to online customers, Pets at Home locations
have become more digitally enabled. Over the upcoming months, the pet at homes will develop
longer-term strategy plan to become the top pet care company in the world. It will put more of an
emphasis on digital and data, offer new services, and alter the design of stores to accommodate
the ongoing channel change (Zaid, Wang, and Abuhijleh, 2019). The goal of digital
transformation is to tie together all of the company's channels' products and services with data-
driven customer insights. Customers will be able to access all of the company's goods and
services in the first phase with just one login, and through its mobile app with the updated
version.
CONCLUSION
From the above report it can be concluded that, business environment involves several
factors which helps business organisation in taking effective business decisions. It is important to
analysis all factors which help management in knowing its impact on business operations. In the
organisation innovation is required to which leads to growth and success of organisation. the
innovation occurs in organisation due to technological change. It is required by business
organisation to adopt upgraded technology as to provide better and quality services to customers.
The report also covers about business ethics and corporate social responsibility.
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References:
Books and Journals
Akbari, M. and McClelland, R., 2020. Corporate social responsibility and corporate citizenship
in sustainable supply chain: a structured literature review. Benchmarking: an
international journal, 27(6), pp.1799-1841.
Arli, D., Van Esch, P., Northey, G., Lee, M.S. and Dimitriu, R., 2019. Hypocrisy, skepticism,
and reputation: the mediating role of corporate social responsibility. Marketing
Intelligence & Planning.
Duarte, S., Cabrita, M.D.R. and Cruz-Machado, V., 2019, August. Business model, lean and
green management and industry 4.0: A conceptual relationship. In International
Conference on Management Science and Engineering Management (pp. 359-372).
Springer, Cham.
Jacobsen, K.A., 2019. Pilgrimage rituals and technological change: Alterations in the shraddha
ritual at Kapilashram in the town of Siddhpur in Gujarat. In Religion and Technology in
India (pp. 130-145). Routledge.
Rogan, F., 2021. Metaphors of technological change. In Metaphor, Sustainability,
Transformation (pp. 31-45). Routledge.
Trautman, L.J., Sanney, K.J., Yordy, E.D., Cowart, T.W. and Sewell, D.J., 2021. Teaching
Ethics and Values in an Age of Rapid Technological Change. Rutgers Bus. LJ, 17, p.17.
Watabe, M., Murakami, T. and Nagata, M., 2022. Japanese prefer to have face-to-face
communication in the workplace even during the pandemic. In COVID-19 and the
Evolving Business Environment in Asia (pp. 15-25). Springer, Singapore.
Zaid, M.A., Wang, M. and Abuhijleh, S.T., 2019. The effect of corporate governance practices
on corporate social responsibility disclosure: Evidence from Palestine. Journal of Global
Responsibility.
Zheng, L., Ulrich, K. and Sendra-García, J., 2021. Qualitative comparative analysis:
Configurational paths to innovation performance. Journal of Business Research, 128,
pp.83-93.
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