Business Environment Essay Example | Topics and Well Written Essays - 2500 words - 1

Business Environment - Essay Example 1 5,6 1.3 Explain the responsibilities of an organisation and strategies employed to meet them. 1 6,7 LO2 Understandthe nature of the national environment in which businesses operate. 2.1 Explain how economic systems attempt to allocate resources effectively. 1 7,8,9,10 2.2 Assess the impact of fiscal and monetary policy on business organisations and their activities. 1 10,11 2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organisation. 1 11 LO3 Understand the behaviour of organisations in their market environment. 3.1 Explain how market structures determine the pricing and output decisions of businesses. 1 12,13 3.2 Illustrate the way in which market forces shape organisational responses using a range of examples. 1 13 3.3 Judge how the business and cultural environments shape the behaviour of a selected organisation. 1 14 LO4 Be able to assess the significance of the global factors that shape national business activities . 4.1 Discuss the significance of international trade to UK business organisations. 2 15 4.2 Analyse the impact of global factors on UK business organisations 2 15,16, 4.3 Evaluate the impact of policies of the European Union on UK business organisations. ... A business organisation has a boundary, which separates it from its external environment. The main rationale of this assignment is to spot the purposes of business organisation, analyze the criterion used by different types of business organisations to meet the demand of stakeholders, and explain strategies and responsibilities of business organisations, which they use to meet their goals. LO1 Understand the organisational purposes of businesses. Purpose of business organisation      Businesses run to ensure they meet the needs of customers. Therefore, according to many businesses, customers are more essential to a business than stockholders, employees, and managers. Without consumers, entrepreneurs cannot operate businesses (Shorthose & Maycroft 2012, P.33). Therefore, the main principle of business organisation is to ensure that customers experience the best services and are fully satisfied. The organisations vision statement portrays the future state of the organisation. Havin g quality managers and leaders enable a business to create vision and strategy (Fleming 2004, P.4). However, under all business conditions, the purpose of a certain organisation is to ensure that the businesses survive. Business organisation should establish shared values and vision for the businesses (Shorthose & Maycroft 2012, P.35). Business organisation must create mission statement and some commitments to maintain the mission at all the organisational levels. The main purpose of this mission statement is to protect the organisation from being sidetracked and distracted. The mission and values focus on the resources and strategies of the business organisation (Fleming 2004, P.7). The major resources of a business organisation include employees, their experiences, and