BUSINESS ENVIRONMENT

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TABLE OF CONTENTS

Introduction................................................................................................................................................................. 3

2. LO1 Understand the organisational purposes of businesses.......................................................................................4

2.1 purposes of different types of organisation (P1.1)...............................................................................................4

2.2 Extent to which Tesco Plc meets the objectives of different stakeholders (P 1.2)..............................................5

2.3 Various responsibilities of Tesco Plc as an organisation and the strategies it employs to meet the objectives of the stakeholders (P1.3).............................................................................................................................................6

3. Nature of the national environment in which business operates (LO2)....................................................................9

3.1 How different economic systems attempt to allocate resources effectively (P 2.1)............................................9

3.2 Impact of Fiscal and monetary policy on the activities of Tesco PLC (P 2.2)..................................................10

3.3 Impact of competition policy and other regulatory mechanisms on the activities of Tesco Plc (P 2.3)............11

3.3.1 Impact of competition policy ON THE ACTIVITIES OF TESCO PLC...................................................11

3.3.2 Impact of regulatory mechanisms on the activities of Tesco Plc...............................................................12

4. Understand the behaviour of the organizations in their market environment (LO3)...............................................13

4.1 explain how market structures determine the pricing and output decisions of TEsco plc (P 3.1)...................13

4.2 How market forces shape Tesco PLC UK responses using a range of examples (P 3.2)..................................14

4.3 Explain how the business and cultural environments shape the behaviour of Tesco PLC UK (P 3.3)..............15

5. Significance of the global factors that shape national business activities (LO4)....................................................16

5.1 SIGNIFICANCE of international trade to Tescos PLC UK ( P 4.1)..................................................................16

5.2 impact of global factors on Tescos PLC UK (P 4.2)..........................................................................................16

5.3 impact of polciies of the European Union on Tescos PLC UK (P 4.3)...............................................................17

6. Conclusions and Recommendations.......................................................................................................................18

7. Reference...............................................................................................................................................................19

8. Bibliography..........................................................................................................................................................21

INTRODUCTION

In this report, different organizations purpose and responsibility will be discussed specifically the

purposes of Tesco PLC that is an UK based public limited company. There are different

stakeholders of Tesco so the responsibilities and strategies of Tesco PLC will be shown to meet

the objectives of these stakeholders. On the other hand, national environment of UK will be

shown to find out how different national factors affect the activities of Tesco PLC. Along with

the national factors how global factors affect the business strategies of Tesco will be analysed. At

the end of the report it will be discussed how Tesco is affected by the EU regulations among the

member countries.

2. LO1 UNDERSTAND THE ORGANISATIONAL PURPOSES OF BUSINESSES

2.1 PURPOSES OF DIFFERENT TYPES OF ORGANISATION (P1.1)

Different types of organizations have their own business policies, structure, and strategies and so

are their purposes. So, whatever the business organizations there must be some specific purposes

for which the organization was established (Nordhaus, 2009). The major organization’s types are

sole proprietorship, partnership and corporation. The following organizations are analysed to

find out their business types and purposes;

a) Virgin Group LTD: Virgin Group LTD is a private limited company established in 1970 in

UK. The purposes of this business organization are to raise the capital through the issuance

of shares not exceeding total number of 50 shareholders. Here, another purpose of this

business is to operate the business in such a way so that none can take over the company

easily. There are some restrictions and legal rules for the shareholders like the shareholders

cannot public trade their shares to others (Allen, 2001).

b) Tesco PLC: Tesco PLC is a public limited company established in United Kingdom by

Jack Cohen. Though the organization was at first established as the sole proprietorship

company but it has been public limited company. The purpose of a public limited company

is to increase a lot of capital through the capital market. Here, when the size of the

organization becomes too high and the company has a good growth rate then it becomes

difficult to operate the organization based on the sole proprietorship structure. So, public

limited company’s purpose is to raise the fund through the capital market with distributing

the ownership among the stock holders (Radebaugh, et al., 2010).

c) MC Donald’s: MC Donald’s is the world’s largest fast food company that is considered

under the franchising organization. Here every one can take the franchise from the

organization through a standard agreement and contract with the MC Donald’s. MC

Donald’s give the opportunity to the local business person to use the product idea and

brand name of the company. Here, MC Donald’s get commissions and do not take any risk

from the local market. The purpose of the franchising is to minimize the risk and cost of

being global.

d) National Health services (NHS) UK: NHS is a publicly funded non-profit company

established in UK to provide free health services for the citizen of the country. This is a

non-profit public company established in the purposes of providing free services. So, there

are no strict rules of making profit and the organization is operated by the government fund

((Radebaugh, et al., 2010).

e) A corner shop near where you live: Light Shop is a small shop near my house that is

established by a sole proprietor. The purpose of such kind of sole proprietorship business is

to get full freedom while doing the business for the own capital maximization. Such kind of

business organization is established so that the proprietor can utilize all of his knowledge in

his own way taking a lot of risk and higher earnings.

These are the purposes of the different types of organization where every organization has its own

specific purposes and rules in the organization.

2.2 EXTENT TO WHICH TESCO PLC MEETS THE OBJECTIVES OF

DIFFERENT STAKEHOLDERS (P 1.2)

Everyone related to the organization is called the stakeholders. Different stakeholders have need

and expectation from the organization considering that extent the organization has to meet all the

need and expectation of these stakeholders (Preston & Steel, 2002). The major extents that Tesco

PLC considers to meet the objectives of the stakeholders are discussed below;

Customers: Customer is the key player of the organization who expects quality products,

reliable services, good customer care services and fair and rational prices, among other

factors in return of their payment. This is the first extent or sector that Tesco has to

consider before meeting objectives of other stakeholders as if customers are not satisfied

then the organization will suffer in the long run.

Shareholders or investors: shareholders are the real owner of the organization where

management works for the interest of the shareholders. Shareholders demand is to have a

good capital gain, handsome dividend amount and growth in the value of the shares but

these expectations are not limited to these. They want a rational return against the risk

they are taking investing in the organization (Gitman & McDaniel, 2009).

Employees: Tesco has more than 537,000 employees all over the world. This large

number of employees expects a good opportunities and remuneration from the company.

Besides that employees are interested in the free flow of information to assess the

prospect of the organization considering the remuneration, retirement benefits and

employment opportunities (Gitman & McDaniel, 2009).

Government: Government provides specific rules and guidelines regarding tax payment,

licensing, standardization and protection of consumer welfare that Tesco has to abide by.

So, here Tesco has these responsibilities to meet the objectives of the government.

Suppliers and other trade creditors: Tesco has many suppliers as the company has

diversified products for the customers. These suppliers want good payment systems,

flexible terms of credit and business agreement and the behaviour of the organization.

So, these are the major fields or extent that Tesco has to consider to meet the objectives of the

stakeholders. Every stakeholder should be given priority regarding their position and expectation

from the organization.

2.3 VARIOUS RESPONSIBILITIES OF TESCO PLC AS AN ORGANISATION

AND THE STRATEGIES IT EMPLOYS TO MEET THE OBJECTIVES OF THE

STAKEHOLDERS (P1.3)

An organization has different responsibilities to the stakeholders to meet the objectives and

expectation of these stakeholders discussed above. Different responsibilities and strategies of

Tesco PLC are shown below;

Responsibilities to Customers: Tesco has to provide a good customer service and quality

products for the customers. For these reasons Tesco maintains an efficient CRM policy to

provide the best service for the customers as satisfied customers become the loyal that

has a positive impact on the profitability of the company.

Responsibilities to the Shareholders: Responsibilities to the shareholders are to make the

information available for the shareholders, to maximize the growth of the organization

through good profitability and to help the stockholders providing the reliable financial

statements (Burnes, 2009). Tesco has its own website through which the stockholders can

know everything for the investment decision making.

Responsibilities to employees: Tesco has the responsibility of providing a good

environment and opportunities for the employees. For these reasons, Tesco has efficient

HRM policies that work for the objectives of the employees. According to (French and

Bell, 2005) customer service profit chain model implies that if employees are satisfied

then it will have a good impact on the performance and profitability of the organization.

So, Tesco maintains a structured policy where all employees are cared to participate in

the decision making.

Responsibilities to Society or CSR of Tesco: The corporate social responsibilities of the

organization like Tesco PLC are shown in the following figure;

Figure: CSR of the organization

Source: Radebaugh, et al., 2010.

The first responsibility of the organization is the economic responsibility where the organization

has to operate in the profit oriented basis considering the shareholders and other stakeholders’

objectives. These profit maximization should be under the legal framework or requirements so

that society faces no negative externality impact. Besides following imposed law, Tesco has to

maintain some ethical issues so that all the stakeholders and society’s purposes are given

priority. To ensure the ethical issues, Tesco makes the decisions with equity, fairness and

impartiality respecting the rights of individuals (Martins and Terblanche, 2003).

Besides these mandatory responsibilities, Tesco maintain some discretionary responsibilities for

the social welfare though these activities contribute none in the profit making of the

organization. But in the long run, discretionary responsibilities of the organization have an effect

on the brand image of the organization (Scaner, et al., 2009).

3. NATURE OF THE NATIONAL ENVIRONMENT IN WHICH BUSINESS

OPERATES (LO2)

3.1 HOW DIFFERENT ECONOMIC SYSTEMS ATTEMPT TO ALLOCATE

RESOURCES EFFECTIVELY (P 2.1)

There are different economic systems followed by the government. These economic systems are

normally introduced to allocate the resources more efficiently that are shown in the following;

Command or planned economy: In a command or planned economic system,

government controls the full economy allocating the scarce resources like soil, capital,

labour etc. Here, the planning body or the government has the full information and can

take better decisions for the resource allocation but this economic system normally

cannot allocate the resources efficiently. This is because the planning body does not have

the full knowledge or efficiency to decide how much should be produced. In such kind of

economic system there are always shortage or surplus of the inputs where a company like

Tesco faces difficulties to operate the business activities properly (Edgar, 1992).

Free enterprise economic system: In the free enterprise economic system all the

organizations can operate the business activities with little government intervention.

Here, the government has very small number of companies in the market and rules and

regulations are flexible to operate the business activities. For this reasons there works a

strong positive competition in the market that leads a strong efficient resource allocation.

As government does not intervene in the market company like Tesco can produce the

products what they really want considering the demand of the market (John and James,

1992).

Mixed Economic System: A mixed economic system is like the free enterprise economic

system but here the government has a little bit intervention with different policies like

monetary and fiscal policies. The mixed economic system is shown in the following

figure;

Figure: Mixed economic system

Source: Denison & Daniel, 1990.

Here, though the private sector has the freedom to operate the business activities freely

government makes some regulations and policies to make the market stable. This economic

system can efficiently allocate the resources as there remain s both the free trade and some

restrictions through which the market players can operate effectively. So, in tis economic system

resources are efficiently allocated with little wastage. In this economic system, private

companies can apply their own policies managing the government policies and regulations (John

and James, 1992).

3.2 IMPACT OF FISCAL AND MONETARY POLICY ON THE ACTIVITIES OF

TESCO PLC (P 2.2).

Government makes different monetary and fiscal policies to control the economy and the

business organizations. These policies are taken by the government bodies considering the

economic positions that also have a god impact on the business activities of a company that are

shown below;

Changes in the interest rate: When government changes the interest rate through the

monetary policy then it has an impact on the business activities. If interest rates rise then

Tesco will face difficulties on financing as the cost of capital will increase while the

customers will reduce their consumption level that will reduce the sales volume of Tesco.

On the other hand, If Interest rate reduces then Tesco will be able to get more financing at

lower cost. This will help Tesco operate the business activities.

Changes in the reserve requirements: if monetary policy changes the reserve requirement

then it will also have an impact on the overall business activities. High reserve

requirement will push the interest rate high that will influence the consumers to deposit

more rather than consumption. So Tesco has to change the business activities as its sales

volume will reduce (Stoudmann, et al., 2006).

Changes in the exchange rates: If exchange rate changes then it will also affect the

activities of Tesco. If pound appreciates then the business sector of Tesco that is

operating in other countries will face problems while home country sales will increase

more value for Tesco.

Changes in the tax rate: If government changes the tax rate through the fiscal policy then

it will affect the business activities from different perspective (Edgar, 1992). If tax rate is

reduced then Tesco will be benefited and company may increase the quality of the

products without considering the changes in the price. Or Tesco can increase more

expenses on the advertisement or other sector as reduction in the tax rate has made the

company more profitable.

Changes in the government spending: If government increase the government spending in

different sector than a business organization will face reduction in the sales volume. On

the other hand, reduction in the government spending will increase the demand for the

private sector so is it for Tesco PLC (Tescoplc, 2012).

3.3 IMPACT OF COMPETITION POLICY AND OTHER REGULATORY

MECHANISMS ON THE ACTIVITIES OF TESCO PLC (P 2.3).

3.3.1 IMPACT OF COMPETITION POLICY ON THE ACTIVITIES OF TESCO

PLC

In UK supermarket and retail shops face a severe competition among them as there are different

super shops with equal capital and business policies. The major competitors are Tesco,

Sainsbury's, Asda and Morrison's that are dominating the super market. Though there are

different companies but Tesco is almost holding 35% of the market capital. But changes in the

policy of the competitors will change the activities of Tesco has an organization has to adjust its

policies with the existing market to cope with the competition (Buzzle, 2013). So, when other

organization changes the policy to stay in the competitive position then Tesco has to change the

business policy. Tesco normally made competition policy considering the cost and product

diversification.

3.3.2 IMPACT OF REGULATORY MECHANISMS ON THE ACTIVITIES OF

TESCO PLC

UK government makes different regulatory policies that have a direct impact on the activities of

Tesco PLC and these impacts may be both positive and negative considering the type of the

mechanism (Tescoplc, 2012). As operating in the EU zone, Tesco PLC also has to follow some

regulations made by the EU while operating in EU countries. So, any changes in the regulations

will affect the activities of Tesco PLC in different ways. For Example; If government impose a

standard quality that Tesco has to maintain, then to produce within that guidelines the cost of

Tesco may rise. SO, in this case Tesco PLC has to change the policy like to increase the price or

reduce the cost.

4. UNDERSTAND THE BEHAVIOUR OF THE ORGANIZATIONS IN THEIR

MARKET ENVIRONMENT (LO3).

4.1 EXPLAIN HOW MARKET STRUCTURES DETERMINE THE PRICING AND

OUTPUT DECISIONS OF TESCO PLC (P 3.1).

There are different market structure like Monopoly, oligopoly and perfectly competitive market.

In different market the company has to make different strategies to determine the output and

price of the company’s product.

Monopoly market structure: when there are one or two company operating in the market

is called the monopoly. In this market structure company normally impose the price what

they really wants to maximize the profit and does not care about what the customers are

willing to pay for the products (Gitman & McDaniel, 2009). Here, in the monopoly

market, Profit maximization will be achieved by setting price so that MC=MR and One

cannot choose both P and Q. on the other hand, Like any firm, the monopolist is

constrained by their demand curve.

Oligopoly market structure: In an oligopoly market the company normally considers the

top level competitors pricing system and considers the customers demand. In the

oligopoly market, the company set prices low as signal to possible entrants or other

competitors. This is to shown the willingness and ability to defend the market share.

Perfect competition market: In the perfect competition, there are many companies

operating in the same industry with extreme competition among the companies. Tesco

PLC is under the perfect competition as in the UK Super market is perfectly competitive

industry where there are many companies operating with high efficiency (Allen, 2001).

Here, Tesco does not choose price for the products for the pricing strategy but Tesco PLC

choose output sales volume considering the total cost including the opportunity cost of

capital invested. On the basis of the output level Tesco decides or analyze the market

through the following questions;

i. What will be the possible profit or loss from the expected sales decisions?

ii. Considering that should Tesco Produce now?

iii. Is it possible to stay in the Industry?

This is how in a perfect competition market, Tesco makes the pricing strategy considering

different ways. So, Tesco normally focus on the demand of the products and the price is

determined considering the customers’ willingness to pay and the competitive position of the

price (Burnes, 2009).

4.2 HOW MARKET FORCES SHAPE TESCO PLC UK RESPONSES USING A

RANGE OF EXAMPLES (P 3.2).

There are different market forces that an organization has to consider to make strategic decision

and other purposes. The major market forces are the supply and demand, elasticity of demand

and supply, perceptions and actions of customers, economic of scale, and cost and output

decisions (Scaner, et al., 2009). How Tesco PLC will respond to these market forces are

discussed below;

Supply and demand: Tesco PLC has to make supply decisions considering the demand of

the market. So, if the demand is high then Tesco PLC produces the goods at high volume.

So, in this case any company like Tesco PLC will always has to make the supply

available considering the demand position of the market (Denison & Daniel, 1990).

Customers’ perception and actions: Tesco considers what the perception of the customers

is and what actions customers take before buying the products. If customers are highly

sensitive to the price change and they emphasize on the product quality then Tesco finds

the way of increasing the product quality keeping the price level under the control

(Scaner, et al., 2009).

Economic of Scale: Before going to produce high volume products, a company has to

consider the economics of scale as it has a direct impact on the decision of producing the

large volume product. Here, Tesco PLC has a good economic of scale and company can

produce a large volume if the demand is high. So, if demand is high then Tesco can

produce large amount of products.

Cost and output: If cost of products rise when Tesco produce large amount of products

then Tesco consider whether the products is profitable.

4.3 EXPLAIN HOW THE BUSINESS AND CULTURAL ENVIRONMENTS SHAPE

THE BEHAVIOUR OF TESCO PLC UK (P 3.3).

An organization has to consider the business and cultural environment before making any

decision as these environmental factors have a direct impact on the business organization (Slack,

et al., 2000). Here, the business environment is analysed through the PEST analysis;

Political factors: In UK political situation is more stable and the government makes

different supportive regulations for the business organizations. Tesco PLC can make

policy considering this inductive political situation.

Economic Factors: The economic factors are the interest rate, GDP, employment rate,

inflation rate. All of these factors are good position in UK that made the activities of

Tesco easier.

Social Factors: The behaviour of the customers, their expectations, perceptions and

actions are determined by the social norm and environment that has to be considered by

Tesco for the business activities.

Technological factors: As technology is changing fast, Tesco has to adjust the operational

activities with the changed technology to increase the product quality and reduce the cost

of the products.

Besides these business environments, Tesco also consider the cultural issues of the UK. The

culture of a country directly impacts the behaviour of the organization. Tesco makes their

marketing policies incorporating the culture of UK. So, the behaviour of the organization is

highly affected by the business and cultural environment of the organization (Heizer and Render,

2003).

5. SIGNIFICANCE OF THE GLOBAL FACTORS THAT SHAPE NATIONAL

BUSINESS ACTIVITIES (LO4)

5.1 SIGNIFICANCE OF INTERNATIONAL TRADE TO TESCOS PLC UK ( P 4.1)

Because of the modern production techniques, advanced transnational corporations and better

transportation system International trade has flourished in the recent years. Through the

international trade system, any company like Tesco PLC can operate in other countries with no

or little barriers ((Heizer and Render, 2003).

So, international trade is very significant for the Tesco as Tesco PLC UK has already become

global operating in different countries especially in the EU countries where the company can

freely operate the business activities with no barriers. If there were no International trade in the

UK then the economics of scale of Tesco will be useless and the company could not make more

revenues. On the other hand, because of the international trade Tesco PLC can outsource some of

its business activities and operations in other countries to reduce the cost and increase the

quality. So, a company will always be benefited under the international trade that has been

emphasized by David Ricardo in his competitive advantage theory that one country will be

benefited by specification while other country will be benefited in reducing the cost (Galloway,

et al., 2000).

5.2 IMPACT OF GLOBAL FACTORS ON TESCOS PLC UK (P 4.2)

Global factors are also a major issue for an organization while it is operating in the global way or

even if the organization is operating only in the home country (Denison & Daniel, 1990). Here

different Global factors are considered that have an impact on Tesco PLC.

International competitiveness: While Tesco is operating in other countries or even in

Home countries then the company has to consider other international competitors like

Wall-Mart. If this competition is high then it is tough to compete in the international

market.

International Business environment: International Business environment is consists of

Political, economic, social, technological, environmental and legal factors (PESTEL)

that have a direct impact on the organization (Heizer and Render, 2000). So, Tesco PLC

has to consider these factors while operating in the international market.

Tariff and tax: If the global market’s tax and tariff rate is high then Tesco face

difficulties to compete with that countries company though in EU this is not applicable.

Exchanger rates: exchange rate is another important global factor for which company’s

ultimate revenue is affected. So, sudden huge change in the Exchange rate of UK with

other countries is a great threat for Tesco PLC.

5.3 IMPACT OF POLCIIES OF THE EUROPEAN UNION ON TESCOS PLC UK (P

4.3)

EUROPEAN UNION has some rules and regulations that the member countries have to maintain

while operating different business activities within and outside the home country (Burnes, 2009).

Here the major policies taken by EU are;

Employment policy

Regional policy

Inflation policy

Education and training policy

Taxation policy

International policy

Establishing the 'rules of the game' policy

All of these policies have a direct impact on the business activities of the member country. Here,

Tesco PLC has to consider whether there is any regulation and policy that may limit the business

activities. So, while doing the business Tesco has to consider the all policies imposed by EU

otherwise the company will be faced under the common law of violating the agreement of EU

member countries. As Tesco PLC is also operating in different EU countries the company has to

maintain these regulations though as a company of EU member country Tesco is getting more

facilities in EU countries (Galloway, et al., 2000).

6. CONCLUSIONS AND RECOMMENDATIONS

From the report and analysis of different issues it is found that an organization has to consider

different internal and external factors very carefully as these factors have a direct or indirect

impact on the business activities. Here Tesco PLC is a Public limited company operating the

business activities meeting all the objectives of the stakeholders more effectively. Tesco PLC has

successfully met all the responsibilities to the stakeholders through different strategies like Better

customer services, employment policies, and making the information available to all the parties.

The super market industry in UK is actively perfectively competitive where Tesco PLC has to

adjust the policies considering the other competitors’ policies and other economic factors like

Fiscal or monetary policies. On the other hand, it is found that Tesco is operating business in the

perfect competition market structure where the company consider the demand of the customers

and their willingness for the pricing strategy. Besides that, Tesco PLC is operating in UK so the

company should follow the regulations of EU along with the UK government regulations. As

Super market or retail industry is getting more competitive Tesco should focus more on the price

and product diversification considering all the international and local factors.

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