Business Environment Essay Example for Free

Business Environ handst EssayExecutive SummaryThis trace provides an over all in all analysis on the types of giving medications and their functions, per giveance of Superdry mode prescribe, commercialize economies, global guile and how UK tradees be effected by the emergent market equivalent BRIC countries. This report comprises 3 major tasks which includes expla democracy of the types of organizations and their nature. Organizations atomic number 18 of importly divide into 2 categories they are unrestricted organizations run under politics e.g. public limited companies (plc) and nonpublic organizations pretendd by the private individuals e. g. sole trader. People who are rice beered in the operations of the organizations are known as stakeholders e.g. shareholders, employees, guests, competitors etc. It a responsibility of the organization to fulfill their needs and amour ifthey requisite to run the caper in its most powerful manner. In addition, it i s grievous for openhanded companies like Superdry ltd to fight home mission vision signals and objective of the profession to know why they are existing in the market. A clear understanding of the social club and its market provides dampen knowledge which target be accustomd to wage the crinkle in full potential. The report withal elevatedlights on the polar type of sparing frame present in the modern miserliness.Economic governing body is concerned with how the deliverance is going to use the just resources to gain upper limit satisfaction. They are market, ascertain and mixed stinting outline. For the countries to gain speedy economic harvest-home the disposal implies economical tools like pecuniary and monetary policies to achieve macro-economic objective s like sustain sufficient economic egression, price stability, trade surplus, equal distribution of income etc. Further more(prenominal) than(prenominal), report excessively contains about the be nefits and drawbacks of the international trade by fetching Superdry as an example. International trade is a practiced way for transmission line to cave in risque earningss by selling their goods at dewy-eyedr market. But this depends on whether the tidy sum al depleted buy good as the culture and taste of large number whitethorn differ. Especially in emerging markets, as they allow unstable economic environment which green goddess hinder the flow of functions on firm. The reports also summarizes creator about the debt crises of EU and how it is effecting the UK production linees. As EU plays are uncollectible role in UK exports and the thriftiness. interpolationBusiness environment is the study of how the business is effected by theEconomical, Political, Social, Technology by the operation of the business. It is substantial for business to start a clear understanding of its internal and external environment to take effective end making and operation. Superdry is a clothing family run in the UK and international carriage market. The comp whatever is well known for its quality and price of the brand. They watch been continuously growing ever since they have entered the market. Their aim is to grow in UK and online market and always tried to outperform the challenger. T present are 2 types of organization in the market i.e. private and public organizations. These organization have unique goals for each. Superdry allow have shareholder who moldiness be satisfied at all cost if the go with want to run on earnings. The report has mentioned about the varied type of economic system with characteristics and policies which government gage use to proportion the economies. that, about the importance of trade internationally, especially in emerging market like BRIC countries. It advisable to stock interrogation on the market before a firm enter repayable to different market conditions.Task one1.OrganizationsOrganization is a group of batt alion collaborating together for achieving particular goal or task (Kokemuller, N. 2014). In a business, organizations are divided in 2 main groups they are public sector organization and private sector organization. Public sector organizations are owned and controlled by government. They are usually nonprofit making organization created to serve the public. While private sector organizations are profit maximizing firms affianced under private individuals.Types of organizationi.Sole traderA sole trader is a business owned and controlled under a single proprietorship. This is the most universal form of any start up business. Here the owners pull up stakes make love all the profits and loss gene yardd by the company. The business is relatively lightheaded to set up as few dandy is needed to ope compute the business. Decisions are taken such(prenominal) faster with no influence of outside persons but all by the owner of the business. The business undersurface keep a good custom er relationship as owners nates personally keep interaction with customers thus allowing the business adapt to market changes faster. However, sole proprietorship business rumpnot generate a high profit as a good deal as big companies does.The owners go out have unlimited liability, this means the owner is liable for all the debts of the business, even to the extent of selling his own personal positions as on that point is no separate judicial entity, the owner and business are considered to be one. Lack of creativity and innovation ordain exist as single owner is making the all the decisions and t here(predicate) is no guarantee that all decisions taken by him leave behind moment in profitable for the business. Less members in the business also subordinates the a put on of chapiter invested furthermore, this also results in more workload for the owner as he/she only have to deal with business activities. Life span of the business allow for end with the death of the own er. (The times 100. 1995-2014)ii.PartnershipA group of bulk interact together for achieve particular objective or a goal is known as fusion. In here all the profit and loss do by the business is shared among the partners according to the law of agreement made surrounded by them. The agreement should be any verbal or written. Some of the things which includes in agreement are the profit and loss sharing ratio, capital invested, roles and responsibilities of partners, partners private learnings. The business must have at least have 2 members and evoke add up immature members up to 20. Decisions are taken after the consulting with the partners therefore, this leave behind slow the decision making process due to conflicts surrounded by them. Resulting slow adaptation to market changes. But in partnership they can invest more capital to the business helping to achieve more exploitation in future. Partnership allow partners to share skills and workload between them thus making them complete work faster. Partners can bring in new ideas into business allowing it to be more innovative and creative. In partnership there will be at least one partner having unlimited liability and one who is having limited liability. (The times 100. 1995-2014)iii.Public limited company (plc)A plc is a large scale operating company release shares to the public and is controlled under the shareholders of the business. Before the business becomes a plc it must be registered under the Memorandum of necktie specifying the business is public. This type of business is genuinely expensive to set up and many formalities have to be filled before it can gain the license of plc. The shares issued by the company must be at least 50000 pound. Shareholders can enjoy limited liability as it have spate legal entity form its owners. besides, as plc is large scale operating company this gives more assurance for the banks and early(a) institutes, that they will pay the loan amount making it easier for the company to borrow loan in big mount and can use that for future expansion of the business.thither are almost drawback of plc, it is difficult to operate due to more number of shareholders. The company cannot respond to changes in the industry as any decision made by the business is after consulting with shareholders which can slow stamp out business operations. The biggest drawback is that the original owner of the business will lose absolute control over the activities business and the overall profit of the business must be shared among the shareholders which can result in low profit for the original owner. Death of a shareholder cannot will not affect the business operations. (Merchant, P. 2014)2.Responsibilities of stakeholders in SuperdryStakeholders are group of people having pursuit in the activities of the business. They can be either external stakeholders or internal stakeholders. External stakeholders are the people who are outside the business environment , e.g. government, social groups. While internal stakeholders are the people who are indoors the business environment. They can be directly affected by the activity of business, e.g. shareholders, employees. (The times 100. 1995-2014) Figure 1 Types of stakeholdersCustomersCustomers are the most important stakeholders in the business. Without them there is no meaning of doing business. When a customer buys a product service the most common aspect they look for is the quality of thegoods/service, valid price and customer service. For any business waiting to run in profit, it must satisfy the needs of their customer. (The times 100. 1995-2014) Superdry have given lot of efforts on making their customer satisfied. Better customer service was one main point triggering the success of the company. This includes, fast online delivering, guarantee the quality of products, if any faults buy the farm in the delivering process they will try to solve it as fast as they could. Customers was k ept as their first priority, as keen customers will build brand the true which in binge create a good part of business and thus adjoin profit. (Superdry gathering.plc. 2012)SuppliersSuppliers are the people who are delivering raw materials or other end product materials to the company. A company must have a good supply chain ensuring a glow inflow of stock in business. As any delay caused by the suppliers will affect the business production. (The times 100. 1995-2014) Superdry have always tried to keep a good relationship with its supplier and takes staidly its roles and responsibilities and aim to ensure thats their suppliers and manufacturers are following the local and international legislation and use the scoop out practice for ethical trading. The Superdry also uses hands-on-approach being actively engage in checking whether the raw products are delivered from amenable business partner. Its a good practice as this will ensure that the supplier wont deliver cheap or fa ulty goods knowingly or unknowingly. As a result this will help Superdry to hold good reputation and avoid unnecessary problems. (SuperdryGroup.plc. 2012)EmployeesEmployees are the most important assets of any business. A well skilled and motivated workforce will help the business to maintain a good performance and accession the profit. They can affect harvest-home of the business since their pay levels and their meditate security will depend on the profitability of the business. Superdry have kept a good employee loyalty by practicing ethical labour practices respecting the rights of their employees. These include independency creation of association, no forced employment, safe and heavy working environment, no discrimination between employees regarding their gender or religion, fair wages, no physical maltreatment, reasonable working hours, no child labours and given job security as with the agreement made between employer and employees. The company also provides training to its employees to improve their knowledge and skill which in turn can increase the productivity of the business. Healthy workforce will generate more profits and help to sustain its growth in future. (SuperdryGroup.plc. 2012)3.SuperdrySuperdry is a company operating in the fashion industry selling their goods internationally. Ever since the company was set up it have outperformed competitions and gained popularity and recognitions doneout UK and internationally. (SuperdryGroup.plc. 2012) The mission of the company was to grow in youth fashion industry of UK and human market by spining premium quality clothing and accessories for two men and women with an affordable price. The company have continued grow its market share throughout UK and internationally by opening new stores and through internet. Since the flotation in London stock supplant in 2010, the business is foc exploitation its strategy on 5 important areas.This includes roll-out of standalone stores in UK and atomic num ber 63, developing online offer (20% internet growth annually), expanding the international business, extending product range and developing an infrastructure that delivers profitable growth and operational efficiency. They are achieving this by building brand awareness by proving currency websites and franchise roll-outs. (SuperdryGroup.plc. 2012) The group has also had goals of providing better working environment to its employees and have given lot of care to improve their performance. Furthermore, by giving best customer service and offering quality product with reasonable price. (SuperdryGroup.plc. 2012) The group have gained 313.8 million profit in 2012 while 237.9 million in 2011. Thats a growth of 31.9% in the revenue of the company. (SuperdryGroup.plc. 2012)Task dickens1.Economic systemsAn economic system is production and allocation of good and service inside the economy by using it scarce resources to gain maximum satisfaction in the economy. They can achieve this by an swering 3 fundamental question arising inside the economy they are, what to capture? How to produce? For who to produce? There are essentially 3 main types of economic system fix in the economy. (Griffin, D. 2014). They areFigure 2 Types of economic systemCommand/planned economic systemCommand economic system is where the government nail down how to allocate resources inside the economy. The 3 fundamental questions in the economy are answered by the state itself. In the modern world, only very few countries like china, North Korea follow this economic system. (Griffin, D. 2014). This economic system is proven to be beneficial as it help to brace the development of the economy. All resources in the economy will be fully utilize, thus resulting full employment. The goal of this system is to provide the basic goods to the people and improve their overall standard of living and reducing the occurrence of disturbances in the economy. It balanced economy between rich and poor. Most o f the production firms are run under government thus allowing sale of good at freeze off price which can be affordable to everyone.The government will be more efficient at mobilizing economies resources in a large scale and can carry out big projects much easily to increase the growth rate of the economy. In addition, this also eliminates the existence of self-interest and social welfare generating population which can hinder the stability of the economy. However, this system uses strict rules and regulation to control the economy, resulting loss of independence of individuals. Private individuals are discourage to start new businesses thus reducing competition in the market. starting time competition will demoralize firms to become more innovative and creative in their production. People will not get many choices, whatever the government produce they must buy, resulting inefficient allocation of resources. Moreover as the firm is nonprofit making organization, they wont try to reduce their cost by applying latest production methods, again resulting productive inefficiency in the economy.Mixed economic systemIn here both the government and the market will decide how to allocate resources in the economy. The 3 fundamental questions are answered by both government and market itself. This mean the economic system will comprise self-possession of both private and public sector enterprises. frankincense overcoming the draw backs of planned and market economic system. There are many countries following this system e.g. Maldives, Sri Lanka etc. (Griffin, D. 2014). The mixed economy will allow the resources to be fully utilize at its optimum level. Even though private sector plays major role in the usage and production and provision of goods and service, the government will monitor their attempt checking whether the private companies are following ethical practices in production or not.Private firms are sanction to become more innovate and creative at their wor k providing low price goods due to belligerent market. Producers and consumers will have sovereignty of choosing between goods which are more appealing to them. However there may be chances of occurring unethical markets supplying harmful good to the economy. Government then(prenominal) can apply quell rules and regulations to control those unethical practices. Unequal distribution of income may occur as people who own the firms will become richesier than people who are working under them. In here, the government plays role only by proving goods which are under provided by the private firms, usually unprofitable businesses like providing street light facilities, or building roads etc.Market economic systemIn market economic system lay off market allocates resources in the economy. The three fundamental questions are answered by the market itself. In here the role of government is limited and the resources are utilized in its maximum potential. This is most common form of econom ic system followed by many countries in the world including India, UK and Kenya. (Griffin, D. 2014). In this economic system most of the firms are owned by private individuals. They are is existence of high competition among firm on achieving biggest market. People are having many choices for goods and service. All the firms are trying to reduce their cost as much as they can and provide the goods which are demanded by the consumers if they want to survive in the market, which in turn increases the innovation and creativity of firms. high competition will cut down inefficient firms in the economy. thus resultingbest utilization of resources.However, as firms want to reduce their cost of production they may adapt capital intensive method of production which can reduce the employment level. Relatedly affecting the standard living of people and can widen the gap between the poor and rich. Which is not a good sight for any developing economy as it may drag down its growth rate. Cut do wn of firms can result in waste of resources as they are now unemployed and unused. In here government plays role only when its necessary. Like with the provision of important sectors like military, banking sector etc., which must be run under the state. They also will create laws which must be followed by the firms if they want to operate in the market.2.Fiscal and monetary indemnityFiscal and monetary policies are tools used by government to stabilize the economic conditions of the soil. This includes achieving macro-economic objectives like full/higher employment, low lump, surplus balance of payments, sustainable economic growth and higher standard of living. (Kenny, T. 2014) Fiscal constitution is by changing government spending and tax incomees bring maximum welfare to the economy. Whereas monetary insurance policy influence the spending of saving of people by varying the interest rate concerning with the current situation of economy. (Kenny, T. 2014)Figure 3 Trade Cycle gross domestic product Boom recuperation RecessionSlump TimeAs shown in the figure 3, when the economy is in recession, they will let high rate of unemployment, low inflation or deflation, low GDP (Gross Domestic Product), unsustainable economic growth, low income and wealth of economy and lower standard of living. As economy is in recession the government can use expansionary fiscal policy. That is increasing government spending and reducing the tax rate of economy to increase the real income of the people (Kenny, T. 2014). Reduction in income tax willencourage people to spent more thus increasing the demand. The government can also give subsides to firms in order to overcome the high cost and use it for innovation of the product lead(p) to higher efficiency and employment in the economy. Higher demand motivates producers to produce and supply more goods to the economy, which in turn increasing the employment and overall GDP inside the economy.Moreover, government can use monetar y policy to reduce the interest rate supporting producers to take on more loans to improve the efficiency of production and so on. Lower interest rate will suppress people to save more and spent less. It also will cause to touch balance of payment as import will reduce while exports increase. Opposite conditions apply when the economy is in boom period. People are tend have more income thus increasing the essence demand. At this stage the inflation is tend to be very high, negative balance of payments will occur as imports are more than the exports. So to stop the economy form over heating government will apply the theory of contractionary fiscal policy.That is spending less and taking more currency form the economy (Kenny, T. 2014). Higher tax rate will cause people to spend less on the goods and service. Thus controlling high demand and price of the economy. The government can also apply the apprehension of monetary policy to increase the interest rate to further tighten the level of pay. Higher interest rate will encourage people to save more and spent less, in addition this will also attracts foreign investors to invest in the economy. Nonetheless, high interest rate can cause people to import more since the value of currency is increased. Before government practice these theories they must be aware of the multipliers in the economy. Incorrect usage of the policies sometimes results in collapsed economy.3.Effects of fiscal and monetary policies on SuperdryChanges in the fiscal and monetary policies can have a massive effect on the overall performance of the Superdry, as it is related with the spending power of both consumers and producers. First of all, for an instance if the government apply expansionary fiscal policy this will help business to gain more benefit. Here, the government will increase its spending and reduce the tax rate. Which in turn can increase the spending power of people thusleading to higher demand for the Superdry product. Lower corporation tax rate will also allow Superdry to enjoy higher net earnings and spend more on future development of the company. Nevertheless, contractionary fiscal policy will have a whole negative effect on the company. As contractionary fiscal policy will reduce the income of the economy by reducing government spending and increasing tax. Thus leading to lower demand for the company product. Additionally, profit of Superdry will be reduced due to new tax increments, effecting the future development and performance of the company.Secondly, as Superdry is online and internationally operating company, changes in the monetary policy can affect its international trade. Higher interest rate can cause the currency value to esteem causing the Superdry product to be more expensive, making it be less competitive in the world market. The demand for Superdry product will reduce if the price is high. The price of share likely to increase in the stock market due to higher interest rate. Likew ise, high interest rate can make it expensive for Superdry to borrow loan form banks in huge amounts, thus causing to slow down the future development of the company. Nonetheless, low interest rate depreciate currency value which can then make Superdry products to be more price advantages due to low price. The company will be able to take on loans as interest are low. Also lower interest rate will reduce the Superdry share price.Task four1.Effects of international trade on SuperdryInternational trade is the permute of capital, goods and service across borders of different nations. Super group business aims itself to establish its presence in wide range of geographical boundarys through combination of building of stores, concessions, franchises, licenses and the internet. Spain, Greece, Hong Kong, South Korea, Swaziland are some countries which Superdry operates internationally. There are many advantages and disadvantages of international trading for Superdry. (Chand, S. 2014), (Sup erdryGroup.plc. 2012) Superdry can gain many benefits by merchandising its products internationally. This includes expanding their market by sellingits products to a wider range of people in different nations. If the lifecycle of the Superdry products in the current market are in saturation stage, the company can market its product into a new market before the life of the product is decline. This will help the business to sustain its growth and profit for a longer period. Additionally, this allows the company to use the foreign resources and diversify its endangerments among the countries. For an instance, if one of Superdry branch makes loses this can be covered up by the profit made by other branch in another democracy.Thus gaining competitive advantage over its competitors. However there are some drawbacks which Superdry had to face in trading internationally. The most influential factor was the cultural and traditional change of people. Different countries adapt different lif e style due to culture, tradition, religion, climate etc. it was expensive and time consuming for Superdry to conduct research on each market. Furthermore, the company had to adjust with the law system which can be hard as laws will differ in each country. Some governments dont support the foreign firms and use higher tax rates and strict rules to protect domestic firms and dive away the foreign firms. The Group overseas performance has achieved a significance growth in the year 2011. After the acquisition of SuperGroup with Europe BVBA (Besloten Vennootschap met Beperkte AansprakelikheidP) the SuperGroup have gain 83% of international growth due to the assistance, knowledge and experience given by them. (SuperdryGroup.plc. 2012)2.UK business in emerging marketsEmerging markets are developing economies which are having some of the features of develop counties like fast economic growth in GDP, strong financial and physical infrastructure. According to World imprecate the BRIC count ries are known to be worlds fastest emerging markets. They are Brazil, Russia, India and China. UK is considered to as developed country. (Kuepper, J. 2014). According to corporate council magazine UK has ranked itself as the work 6th largest economy and trading nation and second in exporting service. For a UK business to enter these emerging markets are tend be far risky. As the economic condition of these countries are unstable. Changes in political and legal environment can disrupt the smooth functioning of thefirm. For an instance a UK firm entering to Indian market have to deal with different traditions and culture. So to understand the market firms have to conduct market research which is both expensive and time consuming. There will be existence of some laws which can prevent UK firms to operate as their government first priority would be to protect and support the domestic producers rather than foreign investors.By applying high entry barriers and tax will discourage firms t o operate in the market. High competition can also be a risky factor as Indian firm knows better about the changes in their market and how should they reach to it. Even though there are risk operating in emerging markets, there are many benefits which business can enjoy. UK is known to be more technically advanced. Therefore they can use advanced technology as their competitive advantage to produce high quality good at lower price. Which can then be used to drive off inefficient firms thus reducing competition. The firms also will be able to use the countrys resources and enjoy the low price rate to buy raw materials. Furthermore, these countries are having high rate of unemployment as the countries cant make as many jobs equivalent to number of unemployed. Thus creating large supply of cheap labour. So there are room for government to support UK firms to operate in market to create job opportunities by giving more subsidies, reducing the tax rate and other trade barriers.3.European Union effects on UK firmsEuropean economic and monetary union, commonly known as European Union (EU) is a group of European counties joining together to form a common market. There are currently 28 member countries in EU. Some the features of the EU are free transfer of goods, labour, capital and service among them, and following one currency, i.e., euro. The aims of the EU is to create efficiency, achieve higher economic growth, freedom, equity, application of rules and regulations made for protecting human right and dignity. (Amandeo, K. 2014) In the 2008 the EU have go about with a high debt crisis which had led to European Union economies to collapse. Due to the inefficient use of the fiscal and monetary policy the government have faced with a high debt which they are unable to pay. The year 2008 Greece have faced with a heavy debt. As they didnt had proper structure for government spending and taxation.They continuously went on spending on public and reduced it tax rate.Final ly resulting a budget deficit. Furthermore, the interest rate was very low encouraging people to spent more and save less. Thus increasing the inflation and causing a negative balance of payment. In order for the government to overcome the budget and trade deficit they went on taking loan form the ECB (European Central Bank) leading to credit crunch. Low economic performance and interest rate have made lenders to think that they will not get their money asking them to demand for higher interest rate.Further worsening the situation. In 2010 including Greece, Portugal, Ireland, Italy have gone through speculative attacks making the economy to become unstable, increasing unemployment, unstable price effecting the economic and social wealth and efficiency of the economy. This have massively effected the UK economic condition as EU is the main exporter for UK firms. unassured and low economic performance of EU have led to cut down on UK exports. Thus leading to lower production and high cost. They have reduced number of employment for overcoming the cost. Leading to lower income and wealth in economy. Spending causing the demand for UK firms to reduce. Some of the firms may go out of business as the profit made is not enough to cover up the cost of the business.Conclusion and recommendationAfter a close evaluation about the organization it can be said that private and public sector organizations exist in the market for varied purposes. Like how public organizations are created to offer goods and service which are under provided by the market mechanism. After analyzing the condition of Superdry ltd, I have found that Superdry have given a lot of effort to satisfy its stakeholders of the company. For example, creating a strong communication, often conducted meetings, informations are shared openly to all she shareholders, follow rules and regulation of the community and government and taking care of employer needs and emotions. Furthermore, the company has develope d its own strategies on how to achieve their mission, vision, objective and goals of the business. Without knowing these the company will not have a clear direction on how to operate. In each economy follow a unique system to use the resources in it optimum way to get fasteconomic growth and welfare.There are isnt any pure market or command economic system existing in the current market. It is best for the country to know the current condition of the market and accordingly react to it. International trade can be beneficial factor for a growing company like Superdry to expand their business and gain economies of scale. Nonetheless, company must face with the different trade barriers like competition, government law which can be a big downturn for business. Moreover counties like India and China who are still emerging the economic conditions are far too unstable. For a UK company to enter these emerging market they must clearly know the PEST (political, economical, social, technologic al) conditions clearly. Without a risk there cannot be any profit. Finally, the current condition of the EU are tend to be very sensitive. There is a possibility that the economy may collapse. However, there are chances that by redesigning the policy structures the country can cope up.ReferenceAMANDEO, K. (2014). What is European Union? Online. visible(prenominal) from http//useconomy.about.com/od/worldeconomy/p/european_union.htm. Accessed 25.03.2014 AMANDEO, K. (2014). What is Eurozone debt crisis? Online. Available from http//useconomy.about.com/od/Europe/p/Eurozone-Crisis.htm. Accessed 26.03.2014 CHAND, S. (2014). The meaning and definition of foreign trade or international trade exchange Online. Available from http//www.yourarticlelibrary.com/foreign-trade/the-meaning-and-definition-of-foreign-trade-or-international-trade-explained/5972/. Accessed 22.03.2014 GRIFFIN, D. (2014). Economic system types Online. Available form http//smallbusiness.chron.com/economic-system-types-112 9.html. Accessed 12.03.2014 KENNY, T. 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