...Executive Summary Business environment is very important to an organisation which will help the firm to identify opportunities and getting the first mover advantage. Besides that, it can also improve performance of an organisation. This report is going to identify all the factors that helps the business run efficiently. First of all, this will understand the purpose for a range of business types (e.g. sole trader, limited company, business partnership and many more). Then will identifies and justifies how objectives evolve, and how they are influenced by the various stakeholders. Find techniques which will enable the business to cope with the environment in which they operate. And in completion realise the different market sectors will have different approaches when defining objectives, satisfying stakeholders, and coping with their external environment. This will be analysed by choosing three different types of businesses which will be compared in their way that they operate. An introduction to business environment Business environment may be distinct as the set of external and internal factors which affect the decision of business. Internal environment is the factor that will affect the business directly, which involve customer, employees etc. External environment refers to the factors that influence the organisation indirectly, which involve PEST (Political, Economic, Social and Legal). Working of the business process is influenced by these forces and factors, which...
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...------------------------------------------------- BTEC HN in Business [Business Environment] Unit 1: Business Environment Unit Code: Y/601/05406 Assignment Title: Understand the organizational purposes of businesses Handout Date: 18-09-2013 Hand In Date: 10-10-2013 Assignment 1 – Scenario Since embarking upon your HN qualification in Business Environment you have been looking for a new job in a Consulting Firm. You have had a number of years of experience working in industry and you would be particularly interested in a role which involved working with or advising local businesses for new setup and expansion. Eventually you secure a post with a large Consultancy Firm “KPMG”. Task 1 As a starting point, the senior manager in the company suggests that you put together:- * A detailed information pack on an existing business:- * Identify the purposes of different types of organization * Describe the extent to which an organisation meets the objectives of different stakeholders (This provides evidence for outcome LO1 – assessment criteria 1.1, 1.2) _ Task 2 The company is looking to put together a series of briefing for EMKE Group, covering a variety of Business Administration related topics. These include:- * Event 1 – Explain the responsibilities of an organisation and strategies employed to meet them It is your job to plan the events and put together materials for the delegates. This will...
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...The Business Environment Business 100 July 23, 2012 The Business Environment A business environment is an environment in which business is conducted. It is also a working climate created by distinct forces: internal and external forces which make up an operating environment. The role of business in the economy is to act as a vehicle for economic progress. In an economy, business plays a pivotal role of acting as the main factor. Businesses include manufacturing, health care, wholesale, retail and services which help the economy to propel, survive and maintain the people that control it. This role depends upon business enterprises operating within the framework of a competitive market economy. To compare and contrast the roles of profit and non-profit organizations in the economy, one has to understand the meaning of profit. In business, profit is a word used to describe earnings. It is the difference between the revenues gained and the expenses incurred from business activities. A for profit business provides and/or exchanges goods and services for a price. A firm or company is in business to make profits or the business fails. When companies earn huge profits, it enables them to invest in research and development, company shareholders are rewarded and other firms are attracted in the industry. On the contrary, the main strength of nonprofit is its efficiency in meeting consumer demands at minimum cost. Nonprofits organizations can be profitable but are restricted...
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...Developing an Ethical Business Environment: A Report to Executive Management Introduction Ethics and business rules always go together. The fact that business policing is based upon the different measures of complete recognition of social norms and social limitations, ethics is indeed a large part of the ways by which business organizations try to strive to be able to become more effective within their operational engagements with regards their aim of being able to influence the society as well. It is indeed certain that the rules and regulation that a business puts up should be able to meet certain standards of social compromises. Any business organization could not afford to be questioned simply because of the fact that the business procedures that they are adapting to are not meeting the set standards for business organizations. (Kuhn, 2005, 12) To be able to have a clearer view of the matter being reported herein, it is first most importantly to be given attention to as to how management is indeed in relation with the actual application of ethical standards within the society. To be able to do this, there are three major points to consider. The said points are as follows: • The effect of organizational culture on ethical operation • The roles and responsibilities of executive management in fostering an ethical operating environment • The impact of ethical standards as they are used in business operations Through the consideration given to these particular...
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...The Business Environment In this assignment I am going to be explaining how the style of organisation fulfil their purposes, I am going to do this by defining the different business terms and how this affects the Business. Business environment Gross profit is the difference between revenue and the cost of making a product or providing a service, before deducting overhead, payroll, taxation, and interest payments.Net profit is the sales and revenue made over the net on the online database on how much sales the company had made also the taxes and profit they make from net profit. Dixons gross profit is increasing. As its annual report suggests they had made a lot of net sales and generated a lot of profit from it. Recession/Survival Recession is when the economy is at a low and most companies are at a crisis. This is when the company cannot always pay their taxes or stock on time and they will have to increase their profits above targets in order to stay stable during the recession period. The recession can impact Dixons Objectives by making them struggle in generating profit and customer satisfaction as Dixons will have to increase their prices on the products and force to make more sales which can bring unhappy customers to them in doing so. This affects their objectives by a lot. Growth/Market share Market share is the total purchases of a customer of a product or service from Dixons, what percentage goes to a company defines its market share. In other words, if consumers...
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...[pic] Redundancy and Redeployment Frequently Asked Questions 1. What is redundancy? Redundancy is a form of dismissal. A genuine redundancy only arises in three very narrowly defined circumstances: • the closure of the business,: • the closure of a particular workplace – for example an academic unit, department, course, unit or office/building: • a reduction in the need for employees – the test being not whether an employer needs fewer employees, but whether it needs fewer employees to do work of a particular kind. This could be due to restructuring. The key point to remember initially is that it is the post that is redundant and not the employee. Once it has been decided that a post is redundant, the question is what will happen to the employee or employees who hold that post. For a redundancy to be genuine, the role must disappear. New staff may still be recruited, but not to undertake the post the redundant employee was doing. A redundancy does not necessarily have to arise from the need to make financial savings. It is possible that other reasons, such as changed priorities, new technology or processes, could drive the need to restructure the workforce which may lead to potential redundancies. 2. What is redeployment? Redeployment is an attempt to secure suitable alternative employment for employees within the University. The need for redeployment may occur for a number of reasons, including redundancy. The...
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...SECOND PART ANTITRUST: ECONOMICS, LAW AND POLITICS & REGULATION: LAW, ECONOMICS AND POLITICS Antitrust policy attempts to make companies act in a competitive manner by breaking up companies that are monopolies, prohibiting mergers that would increase market power, and finding and fining companies that collude to establish higher prices. The principal federal statutes are The Sherman Act, The Clayton Act (1914) and The Federal Trade Commission Act (1914). The Sherman Act pertains to the reality of monopoly and restraints of trade and to the process of obtaining or maintaining a monopoly. The Clayton Act goes further by addressing potentially anticompetitive actions. Contains terms such as may be and tent to. The Federal Trade Commission Act goes beyond by prohibiting unfair methods of competition and unfair or deceptive acts. Practices that come under the antivirus laws are classified as horizontal and vertical. A horizontal practice is one that involves activities in the same industry. Vertical practices are those involving firms in a supply arrangement or a channel of distribution. Antitrust Thought The Structural Approach is determined by conduct of market participants, which is largely determined by the structure of the market, such as the number of competitors and barriers to entry. The Chicago School views the objective of antitrust policy as economic efficiency and views competition as the best means of achieving efficiency. Vertical arrangements...
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...and output decisions. Monopoly A monopoly in the market structure controls the industry; it is the one and only business in that industry. The entry barriers are very high a somewhat impossible to get in and out of, they have no competition so can set quite high prices depending on the demand for the product and set government regulations. Advantages for Monopoly is the business can make huge profit but as this would be an advantage for the business this would also be a disadvantage as they have control over pricing they will set high prices for their product or service, as it is only the one in business in the industry there is little to no change or new products brought in to the industry. The direct relationship monopoly has with pricing and output decisions as it can set high prices the prices also change regular as the demand for the product changes as the demand goes down prices go up and as the demand goes up the price go down. Oligopoly Oligopoly in the market structure is a few businesses that control the industry; the market is shared between those businesses. The entry barriers are high and is difficult to enter the industry but not impossible. They sell identical or similar products so have to think of their competition when it comes down to pricing of their product or service they are selling. Advantages for oligopoly in the market when a business owns a higher percentage of the industry they can control pricing and set competitive prices to drive their own competition...
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...ENVIRONMENT OF BUSINESS ASSIGNMENT Describe 6 Forces that Operation Managers go for or look out for in the Environment of their Businesses or Organizations. There are many forces that Operations managers go for or look for in their business environments. They Include: 1. Threat of New Entrants – The easier it is for new companies to enter the industry, the more cut-throat competition there will be. Factors that can limit the threat of new entrants are known as barriers to entry. Some examples include: • Existing loyalty to major brands • Incentives for using a particular buyer (such as frequent shopper programs) • High fixed costs • Scarcity of resources • Government restrictions or legislation • Entry protection (patents, rights, etc.) • Economies of product differences • Brand equity • Switching costs or sunk costs • Capital requirements • Access to distribution • Absolute cost advantages • Learning curve advantages • Expected retaliation by incumbents 2. Brainstorm Factors Political Factors to Consider • When is the country's next local, state, or national election? How could this change government or regional policy? • Who are the most likely contenders for power? What are their views on business policy, and on other policies that affect your organization? • Depending on the country, how well developed are property rights and the rule of law, and how widespread are corruption and organized crime? How are these situations likely to...
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...water are scarce so they should be efficiently utilized in order to produce best possible output Reservation for Weaker Section Shaheen biscuits manufacturing should provide employment opportunities and jobs to lift up those member of societies who are economically weaker.so that they are able to fulfill their needs. And feed the number of people who are dependent on them. No Participation in Anti-Social Activities Shaheen biscuits manufacturing must not contribute in those activities which will adversely affect the society. They should not provide financial or any any other support to such anti social activities which can ham the society in general Development of Backward Regions The requirement of society is that the business organization should be taking place in backward regions. This will create job opportunities and employment and will increase purchasing power amongst the people living in rural areas. Financial Assistance The society normally expects aids and financial help for several societal causes like eradication illiteracy and poverties. They would expect the organization to take part in anti noise and anti drug campaign.so...
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...The role of a business in this economy is a market that is a social arrangement that will allow buyers and sellers to discover information and complete voluntary exchanges of goods and their services. With the Commerce, it consists of trading something of the same value such as a good, service, information and or money between two entities. With the business, the management and coordination of the people and their resources to accomplish particular production goals, it is usually for the purpose of making a profit. For us to understand what an important role that a business plays in the economy and the influence on our standard of living, imagine a world in which you personally have to produce everything that we consume. For instance, we would have to grow our own food, sew our own clothes and build our own homes and furniture. It would be totally impossible to complete all of these activities on our own. Because business is present in our economy today, we are able to enjoy many more of the goods and the services that we would take for granted. For instance the food that we eat is either prepared by someone else of already picked for us and we buy it at a store, and our clothes someone has already made them. We just go shopping and buy them and our homes and furniture we go to the store and buy what couch we want and we go house shopping and pick out which one we want. Non- profit organizations are the organizations...
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...3.1: Explain how market structures determine the pricing and output decisions of businesses? How market structures determine the pricing and output decisions of Ollo: Firms’ pricing and output decisions depend onbarriers to entry and the behaviour of competitors.The actions of one’s competitors can easily influence the behaviour of afirm.This is proper for an oligopolistic industry whereby firms display mutual interdependence.Ollo is an oligopolistic business with Banglalion & Qubee as their major competitors.If Ollo sets a price higher than that charged by others, the company can expect to lose a lotof sales.Moreover, there are some barriers of entry Ollo must consider before expanding theirbusiness.Barriers to entry are obstacles that deter new firms from entering a market to compete withthe existing firms. They give firms a degree of market power such that decisions can bemade by existing firms without risking their market share.The most common types of barriers to entry are as follows: 1. Availability of key resources. 2. Government restrictions & legal barriers. 3. Exclusive rights & patents. 4. Initial capital cost. We must keep in mind that, the degree of barriers of entry can determine firms ‘pricing decisions. The wireless industry requires a big sum of capital and it uses mobile data network as its main resource.Ollo had to put down a lot of money just to enter this market still they must consider thefact that their competitor Banglalion...
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...Business and the environment Pollution * Societies become wealthier and people start to * consider quality of life. * Factory smoke, noise & traffic jams are leading * to extra pollution. * Government under pressure to pass laws to * Improve * Pollution can give bad publicity to firms – so * emissions are being controlled Recycling * Extraction of natural resources is expensive and environmentally damaging. * Recycling reduces these costs and improves firm’s reputations firms use recycling logo to attract customers Sustainable development * Oil, coal and wood – commodities used by many firms. * These resources are under threat and may run out. Eg Cod in the North Sea. Firms need to ensure they use replaceable natural resources. Kyoto procotocol * In 1997 176 countries gathered in Japan to agree targets for reducing emissions of harmful gases. * The worlds largest polluter failed to turn up. * President Bush rejected the protocol as it excluded fast growing developing countries such as China. Environment & marketing * Firms will use environmental issues in their marketing campaigns * Helps boost firms reputation * Spend money building up a green image * Advantages of this? * Can lead to increased sales, stronger brand loyalty, usp, premium price * On other hand if firms have a bad environment reputation it can cause severe marketing problems Social change | Explanation |...
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...ASSIGNMENT COVER SHEET Name: | | Address: | | Post code / Zip: | | Telephone No: | | Email Address: | | Date: | | Course Name: | | Tutor Name: | | Assignment Name: | | PLEASE NOTE: YOU SHOULD INCLUDE THIS INFORMATION with EVERY ASSIGNMENT. Introduction In this assignment I will be researching the Business Environment and the Business Organisations, I will learn why Businesses operate in different ways and how strategies are developed to meet an ever changing market both national and globally. Section 1 Understanding the Organisational Purposes of Business. There are several terms to describe the word Organisation; A company set up to be profitable, a company set up for a cause or non-profit, a group or association that serves a particular purpose. All of these examples and the others though are all similar, in that they are structured and managed to pursue collective goals. In this section I will describe the purposes of the different types of organisation, the extent to which objectives are met for the stakeholders and also the responsibilities of an organisation with the strategies employed to meet them. Business Organisations exist to do one of two things which are to Produce and/or Provide. The type of sector an organisation is categorised is dependent on the product or service provided these are Primary, Secondary and Tertiary Sectors. Primary sector organisations exist to produce the raw materials needed to produce a product, Secondary sector...
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...The Business Environment Unit 1/Assignment 1 Callum Whitehead Introduction In this assignment I am going to be describing the type, purpose and also ownership of two contrasting businesses. I will then look at stakeholders and look how they influence the businesses, look at how they are organised and explain how their style of the organisation helps to fulfil their purposes. Task 1 (Part A) My 2 contrasting organisations: 1. NHS 2. Microsoft Location – Explain different locations and give examples. Below are some types of locations within a business and how different they could become 1. Local: Local area/ Spilsby/ Spilsby theatre/ hair dressers/ local plumber. 2. Regional: Lincolnshire – based in this region, for example, swimming pools 3. National: UK, e.g. Morrison’s 4. International: only some businesses, for example, Tesco 5. Global: Most businesses, for example, McDonalds and Microsoft However, relating this to both of my contrasting organisations, NHS is more of a National Organisation as they are only working for people within the country as it is a government run Organisation. However, if I was to relate this to Microsoft then it would be different because Microsoft is a Global Organisation, they will produce their products to be sold to everyone. An example of this would be selling phones to people around the world and making money for the Organisation. This could lead to a rolling circuit. For example, if Microsoft was to...
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