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Business Environment Essay

2855 words - 12 pages

Title:

Business Environment: An In-depth Study from Organisational Aspect

Course Title: Business Environment

Student Id: LCC20135580

Student Name: Mohammed Fafid Miah

Date of Submission: 12/12/2013

Table of Contents

Lists of the Content Page Number

1. Understand the organizational purpose of businesses 4

1.1 Identify the purpose of different types of business organization 4

1.2 Describe the extent to which an organization meets the objectives of

different stakeholders 5

1.3 Explain the responsibilities of an organization and strategies employed to
meet them6
2. Understand the nature of the national environment in which business operate ...view middle of the document...

The rival entities also create different firms to meeting the needs of the people. In the competitive market, the businesses are also links to specific business. The government has certain regulation, control and influence onto the business. Besides, there are also global factors, event or others issues that also affect the business in large scale. It is observed the nature and business operation varies from organisation to organisation (Wether and Otter, 2011). With respect to different factors, it is said that the nature of the business environment is different also where the business has to adopt with the management and procedure considering the entire situation.

1. Understand the organizational purpose of businesses:

1.1 Identify the purpose of different types of business organization:

The main attempt of the business organization is to be the market leader, will give importance to all stakeholders because customer will get high quality products, shareholder will receive high dividend, and employee will receive handsome wages and so forth (Stredwick and Kew, 2008). Principal shareholders and their inclinations are indicated below:

Share holder: In the business organisation, the share holder plays a significant contribution and acts like the good return on investment;

Employee: Fair pay and working conditions which should be maintained for all of the employees;

Supplier: Regular business and prompt payment helps the activities of suppliers;

Customer: Fair price and safe product should maintain for the customers;

Local community: Jobs and minimum disruption

Government: Government should concern Employment for local community

Environment: less pollution

Stakeholders are groups of people who have an interest in a business organization. They can be seeing, as being either external to the organization or internal. A stakeholder is any individual or organization that is affected by the activities of a business. They all are not carrying the same importance. The policy maker chooses the best entity which has immediate effect on the company. Shareholders, Management and employees, customers and suppliers, bank and other financial institutions, Government, Trade union and pressure groups are best example of stakeholder (Stredwick and Kew, 2008).

1.2 Describe the extent to which Siemens meets the objectives of different stakeholders

At the inception level, Siemens sets definite target or goal to achieve. To satisfy this, company sketches some paths to grab the target. Those are indicated below:-

Mission: A mission statement is the intrinsic statement of the purpose of the Siemens Company. The mission actually should locate the path of this organization; drive the action of this organization, allocating its overall goal (Wether and Otter, 2011). Mission is Siemens Company’s principle which make it different from the another one. It provides the core structure within which the company’s strategies are formulated.

Visions: A vision is...

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