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As an analyst and consultant of the educational sector business at Deloitte Consulting I’m analyzing BPP University. BPP University is a private sector University offering education in many fields such as law, finance, banking, accountancy, dentistry, psychology, health care and business. It was established in 1922 in London with the aim of providing professional education. Presently it imparts education to more than 9000 study at various study centers such as Liverpool, Bristol, London, Leeds, Cambridge, Manchester and Abingdon. The university got its power to award to a degree in 2007. At present, it is among the six private universities which have the power to award the degree. The university also received an award of the top educational provider of the year. In 2013, the BPP College got the status of a university.
The University has a rigorous study plan and at the same provide a lot of flexibility to the students. University has a well-established distant learning program led by experiences and qualified teachers. The college campus provides undergraduates and post graduate courses with well-established labs and library.
Understand the organisational purposes of business
There are number of activities in an educational institute in order to deliver quality education to the students. It basically involves how education should be delivered on the basis of the area taught. In this type of process input and output are already defined in order to maintain the clarity. The value of an educational institute is determined by making a valuable output through the input. There are eight different type of business process identified which are required to run the business. Each process has a different function in an educational institute that determines its activity. All these eight processes are grouped into two main categories. One deals with core business processes and other deals with the supporting business processes. The different type of organizations in the education sectors are as follows:
A stakeholder is any person or the organization that affect the action of the educational institute.
The objectives of different stakeholders are mentioned below:
Fulfilling all the responsibilities is of utmost importance in an educational institute. It is the responsibility of an organization to keep in touch with all the stakeholders and fulfill their needs. Being an education institute it becomes an obligation to work within business ethics and maintain business morality. The mangers of the organization must work in a way that satisfies all the norms laid down by the legislature. Stakeholders have a lot of expectation from the company they want the company to clarify all the dealing with them and take full responsibilities for their actions. Employees expect the company to give them good salary and flexible work timings. The customers want quality product for the money they pay. Shareholders want the company to make great profits. The economic condition of the country directly affect the activities of the business. (Reinhart, 2016)
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Understand the nature of the national environment in which businesses operate:
Economic system is formulated when the legal and the social entity interacts with the individual or group for economy. The major role of any economic system is to solve the economic problems such as meeting the high demand with the scares resources. The major Economic system followed by the most organizations as well as the BPP University s the free market system. In this system the government plays an important role by taking the full responsibility of the economic system. The elements which are used for resource allocation vary. In this system the important decision is taken by the government while the remaining lesser important ones are taken by the people. The business plan include all the details of the resource allocation. (Mica, 2014)
Fiscal and monetary policies determine the present and the future of the company. The company has to find all its probable competitors and its economic and geographic reach. The company adopts various strategies to manage its finance and marketing.
The company is required to compare its financial standing with all its potential competitors on the basis of the sales and profit. The finances of all the departments of the company are required to be analyzed. The major objective of the financial analysis is to find the position of the company in the market. The value of the company can also be assessed through it. The study of the stocks of the company helps in judging the performance of the company and its employees. Selling and purchasing of the goods from different countries is known as international trade. International trade forms the major basis of the commercial market across the globe. The companies take their business to other companies in order to extend it and to maximize the profit made. The business gets a global market. In developing nations the wages of the workers is low which help in increasing the profit as the manufacturing cost decreases. Company sells the product at the price lower than the competitors which lets them have a competitive advantage. International marketing helps the company to sustain in the international market. (Investopedia, 2014)
Different organization have different purpose to serve. The primary purpose that an organization has to fulfill is referred to as goal of the organization. The primary goal of an educational institute is to impart education to the students. Department of fair trading was set up by the government to UK to protect the rights of the employees and the customers. It also looks after the economic dealing of the organization. The major role played by the office of fair trading is to make the institute function in a proper way by the involvement of the Stakeholders, employees and the customers. It also keeps a check on the unfair trading taking place and take action against the guilty.
Center of innovation and skills keep a check on the employees and the customers. They patent the new services and products launched. There are many laws that keep a check on the competition in the country. They make sure that the company only indulge in the healthy competition among them. Government can interfere in the activities of the business when there is a question of national security and financial stability. (Choudhary, 2016)
Understand the behaviour of organization in their market environment
The price of any product in the market is affected by the demand of the product in the market. The response of the product in the market is determined by the position of the company in the market. If the placement and the result of the educational institute is good then it receives a good response in the market. The market structures that are existing in the market enables the discrimination of the market such as monopoly. Oligopoly and duopoly. Oligopoly, monopoly and the result of the competition in the existing market determine the nature and the price of the product in the market. There are various element of the market that determine its nature and price. The people in the economic department assist in increasing the profit of the company. All the important decisions of the company relating to its position in the market are taken by the senior managers. The different types of the market structures are discussed below:
There are a number of market forces that an educational institute is required to consider.
Some important ones are listed below:
The above mentioned factors are among the most important. Many organization are mostly interested in the collection of the payment as soon as the product and the service is delivered. BPP University gives a lot of flexibility to the suppliers and the students. The student can withdraw their fee if they wish to take admission somewhere else. The return process sometimes may get very hectic resulting in a lot of paperwork. The acceptance of the refund also involves a long process. All the above mentioned forces gives a shape to the organization. All these important decisions taken by the developing manager of the company affect the performance of the company. All these forces increases the stability of the company in future. There is an added advantage to the business leaders who dominate the world commercial market. (Herring, 2016)
Cultural and the business environment shape the behavior of an educational institute. There are two types of the business environment prevalent. One is economic and other is non-economic. The economic business environment includes various economic systems, strategies and different policies concerning the economy. Social, demographic, geographical, political, technological, natural and regional factors come under the non-economic environment. BPP University also funds the other small educational institutes that have the vision to impart quality education. The educational institute are setting up in many remote areas of the country which do not have the enough economic growth. BPP University take care of all such organization which needs economic funding.
The fiscal, monetary and the economic policies of the different countries differ greatly. The criteria for the import and export of the different countries also differ to a great extent. There are different factors affecting the environment of the business such as customs, traditions and financial condition. The political environment of the government also affect the functioning of the country. The technology affect the design and the IT support of the company. Natural factors such as weather, climatic condition and location affect the day to day activities. (Hashmat, 2011)
Be able to assess the significance of the global factors that shape national business activities
International marketing is really important for the running of any country as no country can produce all the goods by itself. It has to import some goods while it also exports the goods required for the survival. This export and import is enabled through theinternational marketing. All the boundaries of the nations are dissolved and the world has become one local market. The importance of international trade is listed below:
The business in the education sector I the UK market is affected by the global market trends.
The global factors are discussed as below:
The policies of the European Union that affect the business organizations in UK are as follows:
The activities of the companies proceed in accordance with the culture of an organization. Leadership style determine the management of the company. It is really essential to motivate the employee relationship as it increases the performance of the company. First task makes us familiar with the purpose of different organizations. Second task discusses the national and international market environment. Third task makes us familiar with the behavior and the organization of the market. The last task describes the significance of the global factors is shaping the domestic market.
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