This LIC Business Environment Assignment had been given in the Luton International College for the Business Environment Unit of HND Business Course. About this Unit:
The aim of the unit is to encourage learners to identify the objectives of organisations and the influence of stakeholders. Learners are also encouraged to investigate the operation of organisations in relation to the local, national and global environment. The unit also provides learners with a solid base of understanding of the parameters within which organisations act that can be built upon in further units.Assignment Structure:
There will be twelve questions relevant to the four Learning Outcomes (LO) of this unit. Each question will correspond to the assessment criteria shown in brackets. Students will need to achieve all pass criteria (AC1.1, AC1.2 etc...) to achieve a Pass, all the merit criteria (M1, M2 and M3) to achieve a Merit and all the Distinction criteria (D1, D2, and D3) to achieve a Distinction in this unit. Candidate may choose to present his/her work in written short essay form or in report form or through power point presentation after consulting the module tutor.
LO1: Understand the organisational purposes of businesses
Instruction to candidate: For this unit you may select a few companies from different industries and answer the following questions with reference to the selected companies. You must get your selections agreed by your tutor.
1.1 Identify the purposes of different types of organisations by examining the Vision, Mission, Goals and Objectives of at least two of your selected organisations. (AC1.1).
1.2 Describe the extent to which an organisation meets the objectives of different stakeholders by mapping and analysing different categories of stake holders of one your selected companies (AC1.2).
1.3 Explain the various responsibilities of an organisation such as social, environmental, business ethics, management responsibilities and public relations and corporate image and strategies employed to meet them (AC1.3).
LO2: Understand the nature of the national environment in which businesses operate
Instruction to candidate: To answer questions in this section, you should select a country after consulting your tutor.
2.1 Explain how different economic systems such as market, command and mixed economies attempt to allocate resources effectively to ensure best utilisation of scarce resources (AC2.1)
2.2 Assess the impact of business policies Europe includes fiscal and monetary policy like taxation, interest rates, quantitative easing and exchange rates of the selected country on business organisations and their activities in that country (AC2.2)
2.3 Evaluate the impact of competition business policies Europe by analysing relevant competition act of the chosen country and other regulatory mechanisms such as Competition Commission on the activities of the organisations in the selected country (AC2.3)
LO3: Understand the behaviour of organisations in their market environment
Instruction to candidate: To answer questions in this section, you may choose a country organisations and one or more organizations within it after consulting your tutor.
3.1 Explain with examples how market structures like monopoly, perfect competition and other situations and the different stages in the product life cycle determine the pricing and output decisions of businesses (AC3.1)
3.2 Illustrate the way in which market forces such as demand, supply, their elasticity, customer perceptions and actions shape short and long term organisational responses like pricing, cost control, collaboration, acquisition and mergers etc. using a range of examples (AC3.2)
3.3 Judge how the business and cultural environments such as changing economic situation and cultural diversity and life styles shape the behaviour of one or more organisations of your choice (AC3.3)
LO4: Be able to assess the significance of the global factors that shape national business activities
4.1 Discuss the significance of international trade in terms of comparative advantages, balance of trade and payment, economic growth and competitiveness to UK business organisations.(AC4.1)
4.2 Analyse the impact of global factors such as political, economic, social, technological legal and marketing factors on UK business organisations (AC4.2)
4.3 Evaluate the impact of different economic, business, labour and social policies, rules, regulations and laws of the European Union on UK business organisations. (AC4.3)
LO 1: Understand the organisational purposes of businesses
1.1 Identify the purposes of different types of UK business organisations by examining the Vision, Mission, Goals and Objectives of at least two of your selected organisations.
Organisations are those formal bodies where many people work for the completion of the common goals and objectives. Each member has different role and responsibility to work towards a common goal.
There are different types of organisations:
Sole proprietor- The main purpose is to make maximum profits with the increase in sales.
Limited Liability- The main purpose is to make profits and to reduce the risks.
Co-operation- The main purpose is to make increase in the sales of the products and to generate profits.
Incorporation- The main purpose is to make profits and to expand their business.
Governmental- The main purpose is to provide services to the people who are in need like education, health, etc.
Non Governmental- The main purpose is to fight and educating them for the people’s rights chooses a different set of activities, this course of action adopted is known as Strategy.
Every organisation adopts a strategy so that they can achieve their purpose. A strategy is a set of different activities and a course of action which an organisation follows to achieve its mission, vision, goals and objectives. In this assignment, the mission, vision goals and objectives of the two organizations are discussed. The organizations selected are:
Company Overview: Vodafone is a British group which provides mobile network services and it is operating in many countries. Its head quarter is in Newbury, London. It is the world’s second largest mobile phone company. (Vodafone, 2015)
Vision- The vision of the company is to be the leader in the communication industry of the world and to connect the world.
Mission- the mission of the company is to increase the value for its stakeholders and to provide best communication services across the world.
Objectives- The objective of Vodafone is to take care of all the stakeholders by its high quality products and services. It does not believe in making compromise with its goals.
Goals- The main goal of Vodafone is to provide excellent customer services in the minimum cost and to provide best network coverage across the world.
The strategies of Vodafone help it to deliver excellent services and it has one of the best management structures to be followed. In this world of high competition, Vodafone is taking challenges and fighting the rivalry effectively.
Company Overview: It is the incorporation which is handled by the unlimited people but all the shareholders do not work in the company. It is the largest fast food chain in the world and it has millions of customers. (Donalds, 2015) There are more than 35000 outlets in the world. It was first founded in United States as a hamburger production company but later on they spread the business across the world. (Meyer, 2015)
Mission: Its mission is to be the favourite place for the customers to have fast food and hang out to enjoy.
Vision: Its vision is to deliver the best experience to the consumer and to provide the best taste also with the best experience. (Githens, 2010)
Objectives- the primary objective of Mc Donald’s is to provide best food to its customers in terms of taste and quality and to provide them the surroundings in which they feel that they are valued.
Goals- The main goal of Mc Donald’s is to deliver excellent customer services and the best taste to the customers.
- Cadbury. (2015). About Us. Retrieved 12 01, 2015, from https://www.cadbury.co.uk/
- Donalds, M. (2015). About us. Retrieved 12 10, 2015, from http://www.aboutmcdonalds.com/mcd.html
- Githens, G. D. (2010). Vision into Results….Introducing Leading Strategic Initiatives. Leading Strategic Initiatives .
- Meyer, P. (2015). Vision statement mission statement analysis. Retrieved 12 01, 2015, from http://panmore.com/mcdonalds-vision-statement-mission-statement-analysis
- Vodafone. (2015). Our Mission. Retrieved 12 10, 2015, from http://www.vodafone.in/about-us/our-mission