Organisation and Business Environment Assignment - Free Essay Example

Sample details Pages: 10 Words: 3008 Downloads: 7 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? 1 Assignment title: Organization and Business Environment INTRODUCTION Business environment is a collection of all internal and external factors that influence a business. The external factors include political, microeconomics, macroeconomic, social and technological factors. Businesses do not operate in a vacuum but are constantly affected and shaped by the external opportunities and constraints. Task 1 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Scenario 1 Explain why some companies are set up in public sector? Also discuss the impacts of these in an economy. The part of theeconomy which is concerned withproviding the basicbasicgovernmentservices is known as the public sector. It is usually composed of organizations that are owned and operated by the government. This includes federal, provincial, state, or municipal governments, which varies according to countries. Examples of public sector companies in Pakistan include Pakistan Mineral Development Corporation (Pvt) Ltd, Pakistan Petroleum Ltd, Pakistan Post Office Department, Pakistan Railways, Pakistan State Oil Company Ltd (PSO) and many others. Public sector organizations and government departments are created to fulfill responsibilities of government and are expected to cooperate in the policy development and the delivery of services. Companies in the public sector are owned and controlled by the government. Thus, planning can be coordinated through central control. The capital is raised from the state treasury or the local rates. The profits earned are handed back to the govern ment or the local authority. In this way, everyone shares in the profit from public ownership and wasteful duplication of services is eliminated. Some services are essential and must be provided, but their cost is so high that a private ownership would not be interested in setting it up as they would not make profit. So such services are set up in the public sector. Also, in many cases, it would be unsafe for private people to run dangerous industries such as the provision of atomic energy. The public sector ownerships prevent large, powerful, privately owned firms from existing and being able to set high prices for their services, therefore, helping to abolish private monopoly. The economy of a country is influenced by the public sector ownerships. In some instances, where a business is failing, the government takes over in order to save jobs. Advantages Don’t waste time! Our writers will create an original "Organisation and Business Environment Assignment" essay for you Create order Essential services are provided. Everyone shares in the profit from public ownership. Wasteful duplication of services is eliminated. Planning can be co-ordinated through central control. Disadvantages Inefficiency results due to the size of the organisation. There is a lack of incentive for employees to perform if there is no share in the profit or there is an absence of other motivators such as productivity bonuses accelerated promotion; (this factor can also apply in the private sector if the employee is not given any incentive to perform). Losses must be met by the taxpayer. Political interference can occur. They interfere with the free market forces. There may be difficulties in finding someone to deal with complaints, though this factor is applicable to any large organisation. Public-sector involvement in economic development, while not always successful, often stems from legitimate concerns about the following: Information market failures à ¢Ã¢â€š ¬Ã¢â‚¬Å" The regional economy will benefit to the extent that the public sector can improve the flow of information in a regional economy in a cost-effective manner. Spillovers à ¢Ã¢â€š ¬Ã¢â‚¬Å" Self-interested buyers and sellers fail to take into account the spillover effects that result in larger costs or benefits for a community or region. Sunk investment à ¢Ã¢â€š ¬Ã¢â‚¬Å" If public infrastructure or private resources are left idle, an area misses out on the economic potential of its sunken investment. Social impacts à ¢Ã¢â€š ¬Ã¢â‚¬Å" Improvements in the well-being of specific people and places may be particularly important for low-income, low-skilled residents who are less likely to move from declining areas to growing ones. Political pressure à ¢Ã¢â€š ¬Ã¢â‚¬Å" Serious concerns about t he state of a regionà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy will lead to public-sector economic development efforts, good or bad. (https://www.caled.org/economicdevelopment/files/econdevelopment.pdf) Identify the different stakeholders in this motorway project. Explain the disadvantages to any two stakeholders of this project. Stakeholders refer to a party that has an interest in an enterprise or project. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers. However, modern theory goes beyond this conventional notion to embrace additional stakeholders such as the community, government and trade associations. (https://www.investopedia.com/terms/s/stakeholder.asp) Stakeholders can be internal or external to the business. A stake is a vital interest in the business or its activities. It can include ownership and property interests, legal interests and obligations, and moral rights. A legal obligation may be the duty to pay wages or to honor contacts. A moral right may include the right of a consumer not to be intentionally harmed by business activities. Stakeholders can: Affect a business Be affected by a business Be both affected by a business and affect a business A stakeholder is often contrasted against a shareholder, which has an ownership interest in the business. (https://education-portal.com/academy/lesson/what-is-a-stakeholder-in-business-definition-examples-quiz.html#lesson) Internal stakeholders include the employees, managers and the owners, while external stakeholders include the suppliers, government, creditors, shareholders, customers and the society. Murree is a popular hill station, summer resort, famous tourist attraction and the administrative centre of Murree Tehsil Pakistan. It is located in the Pir Panjal Range, nearly 60 kilometres away towards the North of Islamabad and Rawalpindi.The Murree Expressway (N-75), also known as the Islamabad-Murree Expressway was completed in 2011. The external stakeholders in this project included the residents of the area, i.e. the villagers, the government, the travelers to Murree Hills, the respective department of the government for forestry, the construction engineers and highway authorities. It also consisted of pressure groups, suppliers and investors. Some of these can be c ategorized as negative stakeholders, as they are those who have had a detrimental impact on the project. An example would be the local residents with concerns about loss of public areas to a new project. The residents who had homes on the mountainous areas had been forced to find other places to live in order to construct this road. Other than this, a river had to be diverted which caused issues in the water supply to the areaà ¢Ã¢â€š ¬Ã¢â€ž ¢s residents. Another concern was deforestation. A lush green forest had to be cut down and destroyed for this project, giving way to a loss of not only a natural habitat, but also a source of food. Removing trees deprives the forest of portions of its canopy, which blocks the sunà ¢Ã¢â€š ¬Ã¢â€ž ¢s rays during the day and holds in heat at night. This disruption leads to more extreme temperatures swings that can be harmful to plants and animals. Therefore, at a hill station like Murree, where the temperatures are usually low, turn out to be gradually increasing due to the loss of trees. (https://environment.nationalgeographic.com/environment/global-warming/deforestation-overview/) Trees absorb water in large quantities during heavy rains. But due to large scale deforestation there are very less tress to retain water. This again led to heavy floods causing heavy loss of life and property. There has been land sliding in the area and soil erosion, altogether deforestation damaged not only the natural environment, but also the physical structures including roads and houses. In your opinion does this project contribute positively to economy and how can it ensure desirable allocation of resources. Mobility is one of the key factors that determine economic development and growth in most countries all over the world. Moreover, economic development is directly associated with quality of life, as people tend to satisfy their advancing need for mobility with the aid of transport infrastructures. https://ideas.repec.org/p/wiw/wiwrsa/ersa13p944.html This project is beneficial for the economy in several ways. Studies suggest that new infrastructures reduce transport costs by 15-20% on average, with as much as 40-50% of this being attributed to time saving. Also the construction itself led to tourist frequentation which generates income for all kinds of industries present in this area and thus adds up to the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s GDP. Several new hotels were constructed along the motorway to serve tourists. Other than this, employment opportunities are also increased. Jobs are created by concessionary companies like toll collectors, road maintenance personnel, local police , and fuel sales. On average, motorway operations are estimated to generate between three to four jobs per kilometer. (OECD 2002) A resource is an economic or productive factor required to accomplish an activity to achieve a desired outcome. The three basic resources are land, labor and capital. The land includes all the natural resources used in the project, for example, the arable land, forests, water resources. Labor consists of the physical and mental talents of individuals that are part of the project. And capital refers to the money, and also the machinery and equipment used. https://www.slideshare.net/kbgluciaja/resource-allocation-16175159 According to economists, efficient allocation happens when consumers are able to choose the goods and services that they want. Companies that do not offer desirable services decline and fail and resources move away from them. In these ways, resources move to those firms that make the things that people want. This is efficient a llocation of resources. Resources are being allocated efficiently when they are being used to produce the proper quantities of the goods and services that consumers desire the most. This project seeks to ensure that road safety funding mechanisms are established, sufficient and sustainable. At the same time, a rational framework for resource allocation allows the making of a strong business case for road safety investments based on cost-effectiveness and cost benefit analyses. To achieve more ambitious performance targets, new funding sources and mechanisms may need to be established. (OECD) Most countries need to improve their knowledge of expenditure on the consequences of road crashes, both by government and injury insurance companies, and investment in road safety improvement and trauma prevention. Road safety authorities need this information to prepare financial and economic evidence on the costs and effectiveness of proposed interventions in order to win whole-of-govern ment support for funding innovative programmes and for transparency in resource allocation for crash prevention and treatment. There are opportunities for targeted road safety investments that provide competitive returns. Road safety practitioners and authorities should develop business cases for this investment. A step change in resources invested in road safety management and in safer transport systems is required to realize the achievement of ambitious road safety targets in most of the world. Revenue sources for road funds typically come from fuel taxes, vehicle registration and licensing fees, and road user charges for heavy vehicles. There are few examples of road funds being used to finance road safety investments. Analyze whether resources are allocated more efficiently in private sector or public sector. Efficient allocation of resources is a characteristic of an efficient market in which capital is allocated in a way that benefits all participants. It occurs when organizations in the public and private sectors can obtain funding for the projects that will be the most profitable, thereby promoting economic growth. https://www.investopedia.com/terms/a/allocationalefficiency.asp In a perfect market, an efficient allocation of resources will be achieved by the forces of supply and demand, through the price mechanism, without the need for public intervention. However, public intervention may be justified in cases of market failure, where the price mechanism results in an allocation of resources that diverges from the social optimum. This may occur for a number of reasons: in the case of public goods, externalities, natural monopolies or asymmetrical information. The appropriate public sector response à ¢Ã¢â€š ¬Ã¢â‚¬Å" distinguishing public provision, financing or regulation à ¢Ã¢â €š ¬Ã¢â‚¬Å" and level of public spending will depend on the type and degree of market failure that the public sector seeks to correct. https://www.odi.org/sites/odi.org.uk/files/odi-assets/publications-opinion-files/2069.pdf Analysis of the conditions of supply and demand for public and private goods: Public money is spent where the state has a comparative advantage. This approach does not provide the basis for determining allocation of resources across the public sector nor their appropriate level. Marginal utility and assessment of cost effectiveness: Problems are encountered when transforming the principles into an operational environment. Allocative efficiency and cost benefit analysis: Whilst useful for appraising large-scale investment projects, this technique cannot be used to assist inter-sectoral and inter-programme allocation decisions. Resources allocated according to citizensà ¢Ã¢â€š ¬Ã¢â€ž ¢ preferences and through collective decision-making: Representat ive democracy does not necessarily produce efficient outcomes, some political and bureaucratic intervention is generally considered necessary. Equity and targeting of the poor: Determining the extent and means of redistribution is a political issue and cannot be determined by economic modelling. These principles and techniques remain imperfect because they do not account for institutional politics. https://www.eldis.org/go/homeid=29494type=Document#.VHz1lGeSyOg When targets are set individually for each organization, the resulting incentives normally induce inefficient resource allocations. If the principal impose shared targets, this may improve the incentives to coordinate but the success of this instrument depends in general on the imprecision and distortion of performance measures, as well as agent motivation. Besides decreasing available resources, imprecise performance measures also affect agents possibility to learn the function that determines value. Simulations wit h a least squares learning rule show that the one-shot model is a good approximation when the imprecision of performance measures is low to moderate and one parameter is initially unknown. However, substantial and lengthy deviations from equilibrium values are frequent when three parameters have to be learned. Differentiate between fiscal and monetary policy, also assess if it is feasible to implement fiscal policy to stimulate economic growth. Economic policy-makers are said to have two kinds of tools to influence a countrys economy: fiscal and monetary. Fiscal policy is when the government uses its spending and taxing powers to have an impact on the economy. The direct and indirect effects of fiscal policy can influence personal spending, capital expenditure, exchange rates, deficit levels and even interest rates, which are usually associated with monetary policy. Monetary policy can also be used to ignite or control the pace of the economy but is controlled by the central bank, the Federal Reserve with the ultimate goal of creating an easy money environment. https://www.investopedia.com/articles/economics/12/fiscal-or-monetary-policy.asp The main difference is that monetary policy uses interest rates set by the Central Bank. Fiscal policy involves changing government spending and taxes to influence the level of aggregate demand. https://www.economicshelp.org/blog/534/economics/define-fiscal-and-monetary-pol icy/ Economic performance can be illustrated through the concepts of aggregate supply and aggregate demand. Aggregate supply is the total supply of goods and services produced in the nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy. It is upward-sloping because at higher prices firms have an incentive to produce more, and at lower prices they are likely to produce less. Aggregate demand is the total demand for goods and services in the nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy. It is downward-sloping because at higher prices, consumers, firms, government, and foreign customers are less willing to buy, while they will likely buy more at lower prices. Aggregate supply and demand are shown in the graph. Shifts in the aggregate supply and aggregate demand curves can illustrate changes in the performance of our economy. If consumer confidence in the economy falls and people reduce their spending, aggregate demand can fall, reducing real output and prices and possibly dropping the country into a recession. H owever, if the money supply is too large, excessive consumer demand can push up the aggregate demand, raising real output and prices and possibly pushing the country into serious inflation. https://www.econedlink.org/lessons/index.php?lid=352type=student Monetary policy is set by the Central Bank, and therefore reduces political influence (e.g. politicians may cut interest rates in desire to have a booming economy before a general election) Fiscal Policy can have more supply side effects on the wider economy. E.g. to reduce inflation à ¢Ã¢â€š ¬Ã¢â‚¬Å" higher tax and lower spending would not be popular and the government may be reluctant to purse this. Also lower spending could lead to reduced public services and the higher income tax could create disincentives to work. Monetarists argue expansionary fiscal policy (larger budget deficit) is likely to cause crowding out à ¢Ã¢â€š ¬Ã¢â‚¬Å" higher government spending reduces private sector spending, and higher government bo rrowing pushes up interest rates. (However, this analysis is disputed) Expansionary fiscal policy (e.g. more government spending) may lead to special interest groups pushing for spending which isnà ¢Ã¢â€š ¬Ã¢â€ž ¢t really helpful and then proves difficult to reduce when recession is over. Monetary policy is quicker to implement. Interest rates can be set every month. A decision to increase government spending may take time to decide where to spend the money. However, the recent recession shows that Monetary Policy too can have many limitations. Targeting inflation is too narrow. This meant Central banks ignored an unsustainable boom in housing market and bank lending. Liquidity Trap; in a recession, cutting interest rates may prove insufficient to boost demand because banks donà ¢Ã¢â€š ¬Ã¢â€ž ¢t want to lend and consumers are too nervous to spend. Interest rates were cut from 5% to 0.5% in March 2009, but this didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t solve recession in UK. Even quan titative easing à ¢Ã¢â€š ¬Ã¢â‚¬Å" creating money may be ineffective if banks just want to keep the extra money in their balance sheets. Government spending directly creates demand in the economy and can provide a kick-start to get the economy out of recession. Thus in a deep recession, relying on monetary policy alone, may be insufficient to restore equilibrium in the economy. In a liquidity trap, expansionary fiscal policy will not cause crowding out because the government is making use of surplus saving to inject demand into the economy. In a deep recession, expansionary fiscal policy may be important for confidence à ¢Ã¢â€š ¬Ã¢â‚¬Å" if monetary policy has proved to be a failure. https://www.economicshelp.org/blog/1850/economics/difference-between-monetary-and-fiscal-policy/ Task 2 Write a brief note on the impact of competition policy and regulatory mechanisms on companies like TESCO. Learner: Osama Javaid Unit 1: Business and Environment Assessor: Abroo Asad

My Experience At Hair Savvy Hair And Nail Salon - 1107 Words

The entrepreneur I interviewed was, Dehra Battle. She is the owner and stylist at Hair Savvy Hair and Nail Salon. The salon opened up on the Spring of 2010. I have known Dehra for the past 10 years. She has been my personal hair stylist for the last 10 years. Being a close family friend, I have witnessed her trials and tribulations with being an entrepreneur. I choose Dehra, because she is a wonderful and hard working woman; she has a passion for helping others with self esteem by creating signature styles that will give any woman the confidence. Dehra was not satisfied with working under a salon owner who was not concerned about the workers safety and customer satisfaction. She wanted to be in control and create an environment that customers would love to attend regularly. Her personal background played a tremendous part of her in her desire of becoming an entrepreneur. Dehra’s mother was a nail tech part time for a the majority of her childhood. Being in this environment for a strong portion of her life, she developed a passion for the art of beauty services. As she got older she began to start learning how to do hair. She attended a high school that had a vocational program for where students could earn their cosmetology license, STNA certificate, and etc. Dehra received her cosmetology license while in high school. After graduation from high school, she worked in several shops where she trained under some of the top stylists of Cleveland. She became the salon managerShow MoreRelatedInterview Analysis : Dehra Battle1211 Words   |  5 PagesThe entrepreneur that I choose to interview was, Dehra Battle. She is the owner and stylist at her own salon called, Hair Savvy Hair and Nail Salon. The salon opened up on the Spring of 2010. I have known Dehra for the past 10 years. She has been my personal hair stylist for the last 10 years. Being a close family friend, I have seen her trials and tribulations with opening her own salon. 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What was the most important reason for the abolition of the slave Trade free essay sample

By the time that the slave trade had been abolished in Britain and her colonies in 1807 eleven million men, women and children had been snatched from their homes. For historians understanding the factors that led to the abolition of the trade remains an important task. Whilst there is clearly a consensus on the main factors that led to this seismic and historic event there is obviously a difference in opinion on the most important due to the degree of subjectivity the question poses. The key factors that caused the abolition were the work of the working class, both their moral views as well as petitions; Economic factors; the work of black people and the middle class. The evidence I have seen has led me to firmly and fervently believe that Economic factors played the most important role. Money makes the world go round and in the latter stage of the 18th century slavery was not making enough of it. Due to a rise in cheap sugar, a result of increased production in Central America, demand for West Indian sugar fell. As plantations closed, demand fell. Whilst in 1771 2728 slaves were imported into Barbados, a year later none were. Slavery became less profitable and in many cases the slaves themselves went from an asset to a liability. Furthermore, an increase in slave rebellion and revolts led to increased expenses. This epiphany caused the plantation owners to realize the benefit of employing former slaves. This was not due to them having a moral realization or hearing the terrible accounts of slaves, not even the cries of the British working class back home. It was simply due to the fact that it was far more profitable to employ people whose wellbeing was not their responsibility. The economist, Adam Smith, in his book â€Å"The Wealth of the Nation† wrote that ‘the work of free men comes cheaper in the end than performed by slaves. ’ This is because Slavery makes the slaves a reluctant labour force and so the slaves feel that their labour is useless as all the profits go to the master as the slaves are not allowed to own anything, not even themselves. I propose that the only reason that the MPs voted for the motion was the fact that it no longer mattered if slavery was banned as the import industry and trade hubs no longer relied on the foul practice to supply them with the commodities such as sugar, Tobacco and cotton. Ewald Alexander-Charles a contemporary of the abolition and a historian wrote â€Å"it was not by stories of atrocious cruelty that the eyes of Parliament were open to the wickedness of slavery. † He went on to show that â€Å"while the free negroes were steadily advancing in number, the slaves were dying, off at a rate which was truly appalling†. This is not to regard the other factors as redundant. The role of black people played a crucial accelerator in the economic downfall of slavery as the revolts they took part in cost thousands to quell. This helped make the plantations less economically viable and contributed to the employment of ex-slaves. However, arguably the bigger role-played by black people was the spread of information about the brutal atrocities and horrible working conditions slaves suffered. Equiano helped publicize the issue in his autobiography â€Å"the interesting narrative†. They brought slavery to the attention of the working class majority and slowly but surely changed the opinion of the people. However, I do believe that if slavery were still economically prosperous the important politicians of the port cities would not have let the bill pass. Before the petitions the politicians believe that the people were on their side. However the series of petitions; firstly of 300,00 and then 3 million helped swing opinion within parliament. This change in opinion also could not of happened without the moral, sociological and theological reform that the age of the enlightenment and French revolution brought. The idea that all men were born equal was a clear and compelling argument for the abolition and it was that kind of thinking which propelled the case for freedom forward. However, I do not believe that the working class had the impact that others have claimed. Because politicians were a rich landowning elite and did not have to take into account the electorate or constituent’s opinions as they owned the land their voters lived on. Furthermore, the majority of the MPs were controlled by the trading companies and sadly, like today; the corporations had more power than the people. That aside, they did put pressure on parliament and gave force to the political proponents of abolition. Granville Sharp is a fantastic example of a middle class educated campaigner who helped fight the cases of black slaves as well as founding the society for effecting the abolition of the slave trade in 1787. Men like him both helped to educate the working class and persuade the upper on the importance of abolition. The reason I think the role of the middle class was not as important and was an underlying factor is due to the fact that public opinion was all ready changing due to the role of black campaigners and the middle class merely accelerated it. However this long-term cause should not be disregarded as many slaves were saved and freed under the legal protection and effort of Mr. Sharp- slaves who went on to change the opinion of the British public. Another example of a middle class campaigner was Wilberforce. Committed and scrupulous, devoted and tireless William fought for the rights of all men and the abolition of the slave trade. William persevered after many failed attempts and although he may not have been the most important factor just like the straw who broke the camels back, Wilberforce’s bill broke the back of oppression and slavery Because as he said in his impassioned speech to parliament â€Å"You may choose to look the other way but you can never say again that you did not know. † To conclude, I think that the economic factor was the most important and although I take a cynical view I believe that the years of racism, apartheid and xenophobia after slavery shows that primarily it was not compassion that led to the abolition of slavery but the same greed that led to the industrial revolution in the years that followed. However I concede that even if as Niccolo Machiavelli says â€Å"Politics has no relation to morals. † It was the men like Wilberforce and sharp, men with more morals than all the planation owners combined who were also crucial to the abolition of the vile and disgusting trade.

Into The Wild Life(2015) by Halestorm free essay sample

Halestorm is a modern hard rock band that features the famous frontwoman Lzzy Hale who named the band after herself. So far to my knowledge, they have released three albums with what seems like a three year wait period between each one. The band has touched upon many topics in their music like rebellion with Freak Like Me, breakups in I Miss The Misery and depression in songs like In Your Room and Break In. Into the Wild Life is far different from their previous two albums. The last two were definitely more modern rock and anthemic based. This one seems to incorporate that and many other rock and metal based elements making this album a bit more diverse in sound. Tracks like Dear Daughter are more emotionally driven and give a sense of pity and sympathy. Tracks like Mayhem, Apocalyptic, and Scream are more punky and a bit more like what they are well known for. We will write a custom essay sample on Into The Wild Life(2015) by Halestorm or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I would also like to mention that this is more set in a similar faction to many concept albums for progressive rock bands. While this isnt always the case, you will find this alot throughout the album almost making it in its self, a concept album(I guess thats why its more musically diverse). I will admit I do like The Strange Case of and the self titled more, but this is surprisingly great. I have to give credit where credit is due and I managed to do that. The diversity is more my style because my favorite genre, progressive rock, explores this alot normally. Halestorm has to get props for trying something new. I give this a 9/10. I am the Grim Reaper, signing off.