Question

Scenario Understanding the relationship between businesses and the environment in which the businesses operate is very...

Scenario

Understanding the relationship between businesses and the environment in which the businesses operate is very important in shaping how businesses behave. In your role as Business Development Manager, you will need to develop strategies that enable your organisation to meet its purposes in ways that comply with the relevant legal and regulatory frameworks. This would involve extensive research on the organisation’s purposes and the nature of the environment in which the business operates.



You need to prepare and present PowerPoint slides to your work colleagues identifying, describing and explaining the following:-

1.1          Identify the purposes of different types of organisations.

1.2          Describe the extent to which an organisation meets the objectives of different stakeholders

1.3          Explain five responsibilities of an organisation and the strategies used to meet them

2.1          Explain how economic systems attempt to allocate resources effectively

2.2          Assess the impact of fiscal and monetary policy on business organisations and their activities

2.3          Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organisation.

Homework Answers

Answer #1

1.1 The purpose of an organisation can be majorly categorised into three segments : economic, social and ethical. The social purpose is to serve and derive the maximum benefit for the internal employees/ staff; the suppliers protection of business and delivering the best quality at the best price to the customers. The economic purpose of the organisation is to ensure the profitability of the business by driving the toline revenues and controlling the costs. The ethical purpose should be to be in compliance with the trade, legal and regulatory practices. The society and the environment should not be exploited or violated, while the profit making continues.

1.2 The organisations have the employees, shareholders, customers and the suppliers as the primary stakeholders. However, the interests of all the stakeholders are seldom optimal. The aim of a business is to attain profits; and hence the shareholders and customers are most benefitted. To acheive the satisfaction of these two the other two paly a crucial supporting role and hence their interest also nees to be taken care of. However, the same is seldom assured in 100% organisations across industries.

1.3 The organsiations aim to offer quality to customers, right pricing to attain the right degree of benefit to customers and the shareholders; the team building and transparency in organisation for benefit of employees and finally the suppliers are engaged throufgh supplier days.

2.1 The economic systems tend to allocate the resources as per their demand and utility. The higher the demand, the improved would be the pricing and hence the resources would be allocated to fulfill the demand .

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Scenario Understanding the relationship between businesses and the environment in which the businesses operate is very...
Scenario Understanding the relationship between businesses and the environment in which the businesses operate is very important in shaping how businesses behave. In your role as Business Development Manager, you will need to develop strategies that enable your organisation to meet its purposes in ways that comply with the relevant legal and regulatory frameworks. This would involve extensive research on the organisation’s purposes and the nature of the environment in which the business operates. You need to prepare and present...
Company Starbuck . Scenario Understanding the relationship between businesses and the environment in which the businesses...
Company Starbuck . Scenario Understanding the relationship between businesses and the environment in which the businesses operate is very important in shaping how businesses behave. In your role as Business Development Manager, you will need to develop strategies that enable your organisation to meet its purposes in ways that comply with the relevant legal and regulatory frameworks. This would involve extensive research on the organisation’s purposes and the nature of the environment in which the business operates. You need to...
Case Study: Amway – Developing Competitive Marketing strategies Introduction All organizations face an external business environment...
Case Study: Amway – Developing Competitive Marketing strategies Introduction All organizations face an external business environment that constantly changes. Sometimes these changes are slight e.g. minor amendments to regulations or a new firm entering the market as a 'small player'. At other times, however, changes in the environment may have important consequences for an organization, e.g. new technologies, changing consumer tastes or a merger between two large competitors. Changes in the business environment create both opportunities and threats to an...
Project 1 Explain how your organisational systems, policies or procedures can support the development of effective...
Project 1 Explain how your organisational systems, policies or procedures can support the development of effective work relationships focusing on communications, consultation, feedback, cultural and social sensitivity, and issue & conflict resolution. Ensure you include in your discussion the following points: communicating information to support others to achieve work responsibilities facilitating employees' contributions to consultation on work issues providing feedback on the outcomes of consultations resolution of issues raised or referral to relevant personnel establish and/or implement policies to ensure...
Government is cleaning up the way companies do business after accounting and governance scandals rocked investor...
Government is cleaning up the way companies do business after accounting and governance scandals rocked investor confidence and damaged the reputation of companies large and small. The Sarbanes-Oxley Act (SOX) of 2002 was enacted in response to the high-profile Enron and World Com financial scandals to protect shareholders and the public from accounting errors and fraudulent practices by organizations. One primary component of the SOX is the definition of which records are to be stored and for how long. For...
The project has been performing as planned, and the team members have been exhibiting increasing levels...
The project has been performing as planned, and the team members have been exhibiting increasing levels of trust between each other. The sponsor and the buyer have been satisfied with the delivery of business value, and user acceptance testing results are positive. A technical expert consulting with the team has expressed concerns that the team is not in agreement on the best way to deliver to the next review. If the project manager wants to support the team in reaching...
Which of the following best describes a project management plan? The project charter, WBS, and project...
Which of the following best describes a project management plan? The project charter, WBS, and project scope statement The schedule, management plans, and budget A formal, approved document used to control the project The project manager's plan for managing and controlling the work The engineering department wants the project objective to be a 10 percent improvement in throughput. The information technology department wants no more than 5 percent of its resources to be used on the project. Management, who is...
QUESTION 1 ? What is the relationship between family dysfunction and schizophrenia? a. ?Research has substantiated...
QUESTION 1 ? What is the relationship between family dysfunction and schizophrenia? a. ?Research has substantiated a link between family dysfunction and schizophrenia but can't say which causes the other. b. ?Family dysfunction is a major causative factor for schizophrenia. c. ?Research has failed to substantiate a direct causal link between family dysfunction and schizophrenia. d. ?Family dysfunction plays a minor role in developing schizophrenia. 1.00000 points    QUESTION 2 ? Chuck has no life plan; he simply lives from...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described itself as "a quarterly survey of business leaders from across the globe … surveying 11,500 businesses in 40 economies across the globe on an annual basis." 1 According to the 2011 IBR, the Asia Pacific region had a higher percentage (27 percent) of female chief executive officers (CEOs) than Europe and North America. Japan is the only Asia Pacific region exception. The report further...
Explain the complete HAZOP procedure as followed in the industry. See summary below. Explain all the...
Explain the complete HAZOP procedure as followed in the industry. See summary below. Explain all the main parts of HAZOP study in details given in the Pdf file including: 1. Overview (including definitions and usage) 2. Hazop methodology (including phases like definition, preparation, examination, documentation and follow-up). Give examples also 3. Risk review 4. Risk communication Guidance: Study the procedure carefully and then write the answers in your own words. Hazard & Operability Analysis (HAZOP) 1   Overview: Hazard and Operability...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT