Business Revision Topic 1 – Business Organisation and Environment * What is business activity? Inputs – Land‚ Labour‚ Capital & Enterprise Outputs – Goods or Service & Waste. Processes – Research and development‚ Production‚ Marketing‚ Finance‚ Administration‚ Human Resources. * Functions * Production – the changing of natural resources into a product or service. * Marketing – IT is to do with identifying consumer needs and pleasing them. Eg: Pricing‚ advertising
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Corporate Social Responsibility (CSR) and how this concept impacts on an organisations business environment. In particular the essay will look into WM Morrison’s stance on CSR and how this impacts the way they conduct business. Greenberg (2003) defines Corporate Social Responsibility (CSR) as ‘Business decision making linked to ethical values‚ compliance with legal requirements and respect for individuals‚ the community at large‚ and the environment. It involves operating a business in a manner
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Learning Outcomes Analyze business environments in terms of transformation systems and internal and external environments Identify the most relevant elements of the business environments using PESTLE analysis and Porter’s five forces model Discuss the classical‚ human relations and systems approaches to organizations Describe and compare the various structures that may be used within organizations. The business as a transformation system Transformation Process: Businesses utilize the inputs
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1. Perform a STEEP analysis to understand the general environment facing Great Lakes. How will Great Lakes be affected by external factors? 2. Use Porter’s Five Forces Model to analyze the lead additives industry in the US. Given this analysis‚ is the industry attractive or unattractive? 3. Using the 3I’s framework determine Great Lakes’ immediate‚ impending and invisible competitors. How does Great Lakes measure up against these competitors? 4. What are the main capabilities
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An organization’s internal environment is composed of the elements within the organization‚ including current employees‚ management‚ and especially corporate culture‚ which defines employee behavior. Although some elements affect the organization as a whole‚ others affect only the manager. A manager’s philosophical or leadership style directly impacts employees. Traditional managers give explicit instructions to employees‚ while progressive managers empower employees to make many of their own decisions
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Abstract Any business involves people and resources either to produce items or goods to be sold‚ or provide services to be sold (BPP‚ 2010). Through learning‚ researches and activities‚ it is clear that different organizations response to their business environment in a unique different way. The competitive market leads to structure such as oligopoly where many buyers and sellers involve in trade of similar products making average profit. The non-competitive market structures leads to monopoly with
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Examination of 3 Political‚ Social and Legal factors that is likely to effect on River Island’s business both in UK and in Germany: Political factors - are factors which are concerned with the involvement of a country’s government within the economy. 1) Tax Policy: it is a set of policies which the government policymakers design to define who pays taxes‚ what is being taxed and at what tax rates. For a retail business like River Island‚ the company must pay National Insurance‚ Corporation Tax
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Legal Aspects of a Business Subjecc: Princples of Business Introduction When starting up a new business it is very important to look at the legal aspects which will influence the company in the future. In this part of the information file there will be the most important legal aspects for running a student company. First there is the selection of business form‚ in which there will be a compairison between the different possible forms. Afterwards a
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The Business Environment and the AIS An AIS does not exist in a vacuum; rather it is an integral part of the firm it serves. The AIS has close relationship with the organization of the firm and its physical operations or process. The firm itself is a system with its own environment. Many of the business and accounting events that are captured and processed by the AIS arise within the environment of the business firm. There are three subsystem of the firm: organizational‚ operational and information
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Assignment brief – QCF BTEC Assignment front sheet Qualification Unit number and title BTEC Diploma in Business (L3) 1: The Business Environment Learner name Assessor name Date issued Hand in deadline Submitted on Assignment title Businesses and their Environments You have just been employed as a junior business researcher for a small business consultancy. As part of your initial training you will research two businesses. The Global McDonalds Corporation; and Isobel Hospice You will
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