Business Environment Assignment Help

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Qualification - OTHM Level 4 Diploma In Business Management

Unit Name - Business Environment

Unit Level - Level 4

Unit Reference Number - M/616/2719

Assignment Title - Business Context

Unit Number - Unit 02

Learning Outcome 1: Understand business organisations, their purpose and stakeholders.

Answer: Business organizations are entities formed to conduct commercial activities, with a primary purpose often being to create value, which can manifest as profit, growth, or societal contribution. These organizations operate with various stakeholders who have a vested interest and can influence or be influenced by the business's actions. Key stakeholders typically include owners/shareholders, employees, customers, suppliers, and the broader community, each with different expectations and impacts on the organization's functioning and success. Understanding the interplay between a business's purpose and its stakeholders is crucial for effective management and long-term sustainability.

Learning Outcome 2: Understand the economic implications of operating businesses.

Answer:  Business operations have significant economic implications, influencing factors such as employment levels, income distribution, and overall economic growth within a region or nation. The decisions made by businesses regarding production, investment, and hiring directly impact the supply of goods and services, which in turn affects prices and inflation. Furthermore, the collective activities of businesses shape market dynamics, drive innovation, and contribute to international trade, ultimately playing a crucial role in the health and stability of an economy. Understanding these implications is vital for both business leaders and policymakers to foster sustainable economic development.

Learning Outcome 3: Understand business market environments.

Answer:  Business market environments encompass the various internal and external factors that influence how businesses operate and make decisions. The internal environment includes elements within the company itself, such as its culture, resources, and structure. The external environment is broader, consisting of the micro-environment, which directly affects the business (like customers, competitors, and suppliers), and the macro-environment, which includes larger societal forces like economic, political, social, technological, legal, and environmental factors. Understanding these different layers of the market environment is crucial for businesses to identify opportunities, navigate challenges, and develop effective strategies for success in the marketplace in Jaipur, Rajasthan, India, or anywhere else.

Learning Outcome 4: Understand the effects of Global Markets and the need for organisations to operate globally.

Answer: Global markets significantly impact organizations, creating both opportunities and the necessity to operate beyond domestic borders. The interconnectedness of economies means events in one region can have ripple effects worldwide, influencing demand, supply chains, and competition. Organizations often need to operate globally to access larger customer bases, diversify revenue streams, tap into international talent and resources, and achieve economies of scale. Furthermore, a global presence can enhance brand reputation and mitigate risks associated with relying solely on a single market, such as economic downturns or increased domestic competition right here in Jaipur, Rajasthan, India, or anywhere else. However, this expansion comes with challenges like navigating diverse cultural, legal, and economic environments.

Assistance with Global Business Environment Assignment: Analyzing Key Factors and Strategic Complexities in Operating within a Global Context

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Scenario
You landed a job as a Junior Analyst working for the UK Government. Having been recently recruited, your manager wants to gauge how much you know before creating a tailor-made training plan for you.

He has asked you to prepare a portfolio with the main concepts in economy.

For Globalisation and Marketing Strategy Assignment: Unit 11 Globalisation and Marketing Strategy - OTHM Level 7 Diploma in Strategic Management and Leadership

Task 1 - Portfolio

Instructions

You should create a portfolio with the following details

a. A table differentiating the purpose of public and private sector organisations

b. A general mind map showing the main stakeholders of an organisation and their objectives, including government, regulatory bodies, competition, etc.

c. A table showing the impact of fiscal policies and monetary policies on businesses

d. A table showing how resources are allocated in a Capitalist, a Mixed and a Socialist economy

e. A diagram showing the impact of supply and demand on the market

f. A diagram explaining Michael Porter's forces

g. A table explaining the effect of market decision (Good/service, cost, distribution, promotion) on business policies

h. A table showing the impact of various element of culture on business

i. A graph showing the value of international market to UK business over the last 70 years

j. A diagram showing the global factors on UK business

k. A diagram showing the impact of EU policies on UK business

Assistance with International Marketing Assignment: Exploring the Concept of International Marketing for Targeting Foreign Markets and Establishing Export Channels

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