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Business environment is the combination of different factors like political, social, economical, technological, legal and environmental factors which influence the activities of the business either directly or indirectly and business has to adopt its surroundings to work well and to get success. Unit 1 impact of dynamic business environment report is about the impact of the dynamic business environment on a private higher educational institution in United Kingdom. As a senior educational business environment analyst and consultant in Deloitte, I have to prepare a report focussing on the impact of different business environment factors on the private educational institution so that Deloitte can sell the developed report to the others struggling institutions who are its clients and they make their decisions based on the report. (Babatunde & Adebisi, 2012)
Introduction to the organisation
A private higher educational institute is the one which does not receive any funding from the government and they charge all the costs from the student’s tuition fee. One such private higher educational institution in UK is the University of Buckingham. University of Buckingham was founded in the year 1976 and it has a very good and reputed position in United Kingdom. The university does not accept or take money or funds from the government and they chose to make their own path and their main motive is to focus on the needs of the students. The main motive of University of Buckingham includes quality education to the students, teaching and providing employability skills to the students and to provide satisfaction to the students. The external factors which affect the university are cultural factors, political factors, economical factors, environmental factors, technological factors and legal factors. (applytouni.com, 2016)
The organisation believes in providing quality teaching with the combination of professors and lecturers. The universities have the facilities like a big campus, Libraries, services of Information Technology, Studios, coffee bar, parks, fitness rooms and more. The organisation is the non profit organisation whose main objective is to deliver education services to the students and t earns profits for its growth. The university have many responsibilities towards its stakeholders which it fulfils by adopting strategies. These responsibilities may be ethical or legal. The university follows the regulations made by the governmental and follows ethics to keep its stakeholders safe and satisfied. (Stanislavská & Kvasni?ka, 2014)
There are many types of business organisations which operate with the different mission, vision, goals and objectives. They are different in terms of their purposes, structures, cultures or their business environment in which they operate. So below different types of organisations are explained along with their business environment:
University of Buckingham is committed to provide education services and employability skills to the students. The university does not raise funds from the government but they provide services without the aim of profit. Its main aim is to provide quality education to its students and not earning maximum revenue and percentage of profits.
Every organisation has its own set of stakeholders which affect the business and they are also affected by the activities of business. Different stakeholders of University of Buckingham are:
University of Buckingham have many responsibilities towards the stakeholders and to fulfil these responsibilities, it adopts some strategies. University of Buckingham has the foremost responsibility towards its students to provide them quality education and to make them capable for their future. Education industry has become one of the most competitive industries. So, in order to beat other organisations, University of Buckingham should not adopt any unethical practices. Some of the business strategy to fulfil the ethical responsibilities in higher educational institutes are Fair publications, adopting principles of good practice, Non discrimination among students on the basis of race, colour, gender, status, etc. the university should also run a grievance cell where students can freely register their companies. (CIS, 2016). It is also an ethical responsibility of the university to establish good relationships with the society and community and to provide good working conditions for the employees. The university should follow the requirements while processing the admissions. The modules of the university should be aligned with the national framework for higher educational qualifications. In the canteen of the university, Food quality regulations are to be followed. The university has to follow employee legislations too by giving appropriate pay to the employees. (Stanislavská & Kvasni?ka, 2014)
applytouni.com. (2016). The University of Buckingham. Retrieved 06 25, 2016, from http://www.applytouni.com/universities/the-university-of-buckingham/
Babatunde, B. O., & Adebisi, A. O. (2012). Strategic Environmental Scanning and Organization Performance in a Competitive Business Environment . Economic Insights – Trends and Challenges .
CIS. (2016). CIS Higher Education Code of Ethics. Retrieved 06 25, 2016, from https://www.cois.org/uploaded/Documentation/For_Colleges_and_Universities/Code_of_Ethics_for_Higher_Education.pdf
ICSI. (2012). Business Environment and Entrepreneurship. The Institute of Company secretaries of India .
Mari?, I. (2012). STAKEHOLDER ANALISYS OF HIGHER EDUCATION INSTITUTIONS . Interdisciplinary Description of Complex Systems .
Stanislavská, L. K., & Kvasni?ka, R. (2014). SOCIAL RESPONSIBILITY OF HIGHER EDUCATIONAL INSTITUTIONS – THE COMPARISON OF THE VIEW OF STUDENTS AND POTENTIAL STUDENTS. ERIES Journal .