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A. B. I. INTRODUCTION............................................................................................................................... 3 CONTENT ........................................................................................................................................... 4 UNDERSTAND THE ORGANISATIONAL PURPOSE OF BUSINESSES ............................ 4 1.1 Identify the purpose of Camelot as an organisation ........................................................................ 4 1.2 Describe the extent to which Camelot meets the objectives of different stakeholders. Draw from the case study and further independent research. .................................................................................. 4 1.3 Explain the responsibilities of Camelot and strategies they employ to meet these requirements. .. 5 II. UNDERSTAND THE NATURE OF THE NATIONAL ENVIORNMENT IN BUSINESS OPERATE ............................................................................................................................................... 6 2.1 Explain how economic systems attempt to allocate resources effectively ...................................... 6 2.2. Assess the impact of fiscal and monetary policy as it relates to Camelot and their activities ....... 7 2.3. Evaluate the impact of competition policy and other regulatory mechanisms in UK on the activities of Camelot ............................................................................................................................. 7 III. UNDERSTAND THE BEHAVIOR OF ORGANISATIONS IN THEIR MARKET ENVIORNMENT .................................................................................................................................... 9 3.1. Explain in context of Camelot how market structures determine the pricing and output decisions. .............................................................................................................................................................. 9 3.2. Illustrate the way in which market forces shape organisational responses using a range of examples from the case study and independent research. ..................................................................... 9 3.3. Judge how the business and cultural environments shape the behaviour of Camelot .................. 10 IV. BE ABLE TO ASSESS THE SIGNIFICANCE OF THE GLOBAL FACTORS THAT SHAPE NATIONAL BUSINESS ACTIVITIES ................................................................................ 12 4.1. Discuss the significance of international trade to UK business organisation .............................. 12 4.2 Analyze the impact of global factors on UK business organisations using Camelot to support your analysis ....................................................................................................................................... 12 4.3 Evaluate the impact of policies of the European Union on Camelot ............................................ 13 C. CONCLUSION ................................................................................................................................. 15
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A.INTRODUCTION
Business environment is the combination of both internal and external forces that will help to find out the new way to grow and prosper in other countries outside the national boundaries. It is also help to judge the working environment of the organisation in the said economic and social environment. Part one will cover the organisational purpose of business operations. Firstly, I will explain the vision, mission and objectives of the selected organisation. Then how the organization meets the objectives of different stake holders. Further detail of responsibilities and strategies are given that is employed by any organisation for gaining ultimate profit.
In the second part, the understanding the nature of national environment is given in which a certain organisation is operating. For this economic resources are analysed and assess the impact of fiscal and monetary policy on the business activities. Moreover, evaluation of competition policy and other regulatory mechanisms are conducted. In the third part understand the organisational behaviour in the market environment by the judgement of business and cultural environment. Additionally market forces are illustrated that shape the organisational responses. And finally the report is focused on how the global factors are significant in shaping the business activities.
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B. CONTENT
I. UNDERSTAND THE ORGANISATIONAL PURPOSE OF BUSINESSES 1.1 Identify the purpose of Camelot as an organisation The ultimate aim of any organisation is to serve the customers by meeting the objectives of different stake holders. Thus to satisfy the needs of the customers by fulfilling the responsibilities and strategies employed by the organisation. No doubt at the start of the organisation, it targeted the survival. Later on it grows and succeeds to meet the shared vision and mission. In any organisation, faith of the customers is the most valuable property. Camelot is serving the people in increasing the fund and money for the very good cause and enjoyment. They are trying to do their best in preceding the national lottery system as great as possible. 1.2 Describe the extent to which Camelot meets the objectives of different stakeholders. Draw from the case study and further independent research. For the organisation, customers, employees, suppliers, legal entities and government are the main stakeholders that put the great influence in getting the market share and enhance the profitability of the company. While there are three main broad categories of Camelot including internal stakeholders, connected stakeholders, and external stakeholders. Internal stakeholders contain employees and managers. Camelot must have to ensure the good working environment that is comfortable, clean and relaxing, so that they are able to fully concentrate on their work. This is very supportive for the career development of the employees in terms of possible promotional prospects. Job security is one of the most important aspects for the workers working in any organisation. In this regard, considerable salary and insurance is the preliminary surety for job. Internal stakeholders are just like a family, if organisation gives the feeling of home, they are dedicated and motivated for the continuous growth of the organisation. Connected stakeholders are wholly and solely concern with their own interest associated with the organisation. Retailers, bookmakers are the connected stakeholders of Camelot that hope to
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The only drawback of such economies is that no incentives are give=n to productivity and there are less chances of investment. Market Economy In such type of economies, companies have the independent right and government has only very little involvement. Thus companies produce what the market demands and as per the demand of the customers. Thus customer oriented and market oriented products are coming in to the market. In this regard resources are effectively utilized based on the demand factor. But in this economy extensive competition has to face due to the drawback of monopoly created by one favoured company. Government is normally interfere in regulating the price and quality control in terms of production as well as consumption processes. Similarly, subsidy and taxation, prohibition and provision all are under the control of government.
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Technological: these are ways through which products can be made, sold and services can be provided to the targeted customers. These are the ways through which markets can be identified, firms can be managed and try to extend the means of communication and promotional services. Environmental: the existing and physical environment is very important to run the real time business. It is also necessary to find out the right form of resources to get the required results. Legal: these are laws and regulations that will support the company to run its operations.
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Economic: some of the common economic facts that can affect the demand and supply forces are as follow: How the economic activities are taken place in the overseas market? How much is the economic growth in the newly industrialized countries? What is the rate of interest, exchange rate and rate of inflation in the other countries?
Social: In the UK, a large numbesed cost in r of aged people is in the population. Thus the firms have the pressure to commit the pension payments for such employees. Technological: in this modernised world, companies have to consider certain technological factors like: How to access to patents and copy right? Issue of intellectual property rights Transference of technology requirement Relative technology cost and its comparison with labor cost
Environmental: it is the utmost duty of the organisation to cater the legislative measures in terms of environment protection. Legal: In the recent years, UK has changed its policies in terms of legal constraints. It has widely affected the firms behaviour. Like the introduction of age discrimination and disability legislations have increased the level of minimum wage rate. 4.3 Evaluate the impact of policies of the European Union on Camelot EU comprises of 15 member states and has the two main sources for the formulation and implementation of law. One is the primary source that based on treaty provisions and other is the
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C.CONCLUSION
In conclusion, this report has successfully demonstrated the understanding of the organisational purposes and its main aim for formulation and working. Moreover, it clears the concept of working environment and nature of environment in which a firm is operating. In the first part, the main targeted area is to identify the main purpose of organisation and to identify the nature of the environment in which it is working. In the second part, it is explained that different types of organisations are working and have different responsibilities for stakeholders as well as strategy employed. All this is studied for the optimal allocation of resources. Moreover, influence of fiscal and monetary policy and competition policy is explained in perspective of selected organisation. Third part is based on the understanding of the behaviour of the organisation in the given market environment. And the last part includes assessment of the significance of the global factors that help to shape national business activities. Thus it is very effective report in giving the information about business environment and economic conditions. Moreover, it is useful in understanding the impact of policies while running the business in the UK environment.
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D.REFERENCE
1. Book sources: Shaikh, S 2010, Business Enviornment, 2nd Ed, India: Pearson Education
http://www.bitc.org.uk/our-resources/case-studies/advisory-case-study-strategydevelopment-camelot Camelot annual report, [online]. Available from: http://www.natlotcomm.gov.uk/assetsuploaded/documents/annual-report-20102011_1311934839.pdf Corporate Planning Report, [online]. Available from:
http://www.angelfire.com/musicals/kalpana/Goal.htm Relationship between market forces and organizational response, [online]. Available from: http://www.blurtit.com/q609511.html
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