...to be in favor of joining the euro club, it is not clear at the moment if that will actually happen. The opposition Tory party is not in favor of adopting the euro and thus giving up monetary sovereignty of the country. The public opinion is also divided on the issue. Whether the United Kingdom will eventually join the euro club is a matter of considerable importance for the future of European Union as well as that of the United Kingdom. The joining of the United Kingdom with its sophisticated finance industry will most certainly help propel the euro into a global currency status rivaling the U.S. dollar. The United Kingdom on its part will firmly join the process of economic and political unionization of Europe, abandoning its traditional balancing role. Investigate the political, economic and historical situations surrounding the British participation in the European economic and monetary integration and write your own assessment of the prospect of British joining the euro club. In dong so, assess from the British perspective, among other things, 1) potential benefits and costs of adopting the euro, UK is a country characterized by a conservative and stable economy. For them say yes to the Euro zone on one side meant a good opportunity to have a excellent international commerce that gave a lot of flexibility to its market. But also represent a large risk on these same benefits, for example on the mortgages. As we saw in class, the vast majority of the...
Words: 565 - Pages: 3
...Case Discussion: Polarities 1. Provide an overview of polarities using at least three credible academic sources “Polarities are ongoing, chronic issues that are unavoidable and unsolvable. Attempting to address them with traditional problem solving skills only makes things worse. There is significant competitive advantage for those leaders, teams, or organizations that can distinguish between a problem to solve and a polarity to manage and are effective with both. (Johnson, 1998, p. 2).” “Polarity management is an approach to conflict resolution that’s about identifying and managing unsolvable problems. It stresses the importance of recognizing that some situations don’t have solutions- and that life doesn’t always have to be either/or. While some issues are just problems that have a definite answer, the more challenging issues are polarities. (Miller, 2008, para. 3&4).” For example, a manager of a team knows that she must constantly go back and forth between focusing on the team’s performance as a whole and on each individual team member’s performance. Were she to focus on one avenue more than the other, we can safely assume she was not as effective as she could be (Hirschhorn, 2001). “They are called paradox, dilemma and tensions. We refer to them as polarities; but whatever they are called, it has been documented that individuals and organizations that manage them well outperform those that don’t. Polarities are competing values that need each in order to achieve...
Words: 1317 - Pages: 6
...is a world-class engineering, construction, services and investment group. We employ nearly 35,000 people, who deliver projects that directly improve lives and communities – from hospitals to highways, from railways to water supply systems, schools to power generation and transmission. We build, upgrade and manage major road systems in the UK, US, Dubai and Asia. We are a major player in the development and maintenance of major and regional airports. We are the UK’s leading building and building services company, a leader in the US building market for programme and construction management, and we play a key part in the delivery of affordable housing. We provide facilities management for governmental and private customers and have long-term partnerships with a number of utilities companies to upgrade electricity, gas and water systems. Our rail business provides high speed electrification and power supply systems, track systems, track components, signalling and plant for network owners across the world. We are a leading participant in the UK’s privately financed project market, financing, building and operating roads, schools, hospitals and other infrastructure. We are increasingly taking this skill to markets outside the UK. We seek to operate safely and sustainably in all that we do. Source: www.balfourbeatty.com Scenario You have joined the Balfour Beatty company as a Management Trainee at their Head Office in London. You are required...
Words: 1306 - Pages: 6
...public sector, and all the type of organizations in both sectors have different features though some features may be the same for different organizations. Next plc is a multinational firm which is operating in UK and it has several stakeholders which can be categorized into two groups, internal stakeholders and external stakeholders and also Next plc as an organization has it aims, objectives and goals which they target to achieve in future though they have achieved some in present too. Economic system is an organized way on how allocation of resources in an economy is done, how goods required by the consumers have been produced and how it is distributed, basically there are three types of economic systems where in all three economic system allocation of resources is done by different parties. Economic policies are implemented by the government the economy, both policies that the government use have a direct impact on country’s economy. Next plc as an organization also can affected when the government implements economic policies to the country’s economy. Next plc exports products to other countries and by doing this it enables international trade to take place. International trade brings several advantages to Next plc but it also must face certain issues due to international trade. Certain countries over the...
Words: 5352 - Pages: 22
...the Operating Business Environment………………………………..…3 Introduction………………………………………………………………………………….3 1.1 Explain how economic systems attempt to allocate resources effectively………………3 1.2 Assess the impact of fiscal and monetary policy on “Lloyds Banking Group, UK”, and their activities………………………………………………………………………..5 1.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a “Lloyds Banking Group, UK”....................................................................................7 References…………………………………………………………………………………….9 TASK 2: Nature of the Operating Business Environment Introduction: The study discusses different types of economic systems and assesses how these economic system attempts to allocate resources efficaciously, explains the UK government policies (namely monetary, fiscal, social, and competitive policies) and assess the effect of all the above-mentioned policies on a “Lloyds Banking Group, UK”, UK based organization. The paper exposits market structure types (namely, perfect competition, monopoly, monopolistic competition, and other market structures. Finally, the paper describes the ways market structures define the output and pricing strategies of the companies. 1.1 Explain how economic systems attempt to allocate resources effectively Economic systems are a set of institutions for assigning resources and making possibility to satisfy human wants. Resource allocation is the assignment...
Words: 1822 - Pages: 8
...ROYAL LONDON ID: 12878-RB HND BUSINESS MANAGEMENT LECTURER: MR TAIWO OLAJUMOKE BATCH: 11 LEVEL: 4 BUSINESS ENVIROMENT | Introduction | 3 | 1.1 | Identify the purpose of organisations | 3-4 | 1.2 | Describe to which extent Iceland Supermarket Ltd meets objectives of its different stakeholders. | 5-6 | 1.3 | Explain various responsibilities of Iceland | 7 | 2.1 | Different economic systems | 8-9 | 2.2 | Fiscal and monetary policy | 10-12 | 2.3 | Competition policy and other regulatory mechanism | 13-14 | 3.1 | Market structures determine the pricing and output decisions | 15-21 | 3.2 | Which market forces shape Iceland Supermarket responses | 21-22 | 3.3 | How the business and cultural environments shape the behaviour of Iceland | 22-23 | 4.1 | Significance of international trade to Iceland Supermarket | 23 | 4.2 | Impact of global factors on Iceland Supermarket | 24 | 4.3 | Impact of policies of the European Union on Iceland Supermarket | 25 | | Conclusion | 26 | | References “ | 27 | CONTENTS “ Introduction of Business Environment Controlling the environment in which businesses are being operated is called business environment. There are two types of business environments, internal and external environment which are necessary for...
Words: 6611 - Pages: 27
...Assignment on Business Environment Introduction: Business environment is composed of two words ‘Business’ and ‘Environment’. In economic sense ‘Business’ means human activities like production, purchase or extraction or sales of products or services that are performed to earn money. Meanwhile ‘Environment’ means the aspect of surroundings. Business environment is the set of conditions institutional, political, economical, legal or social that is uncontrollable and affects the functions of the organization. Business environment consists of two components: external environment and internal environment. Internal environment includes of 5 M’s like management, money, machinery, material and man. On the other hand, External environment consists of demo-graphical factors, socio-cultural factors, political factors, geo-physical factors, government and legal factors. 5. Understand the organizational purpose of business 1.1 Identify the purpose of different types of organizations There are different types of organizations and mainly all kinds of organizations are divided in three sectors: public sectors, private sectors and voluntary sector organizations. The purposes of those organizations are not same. Public sector is owned and run by the government for the people. People pay taxes to the government and this money is used to finance most of the public sectors. The main purposes of public sectors organizations are to provide essential public services and to use resources...
Words: 3173 - Pages: 13
...What is a better Monetary System: Bargaining or Money? So far, every monetary system ever implemented has been problematic. For instance, money, in its various forms, has been liable to manipulation. Metal money made from precious metals may be degraded by the issuer or filed, shaved, or chipped by individuals. Paper currency makes it more difficult for individuals to alter money but is more easily manipulated by the issuer, whether central authorities of individual banks. Bargaining and money are the two principal systems that markets utilize in buying or selling of both services and goods. Notwithstanding its weaknesses, money remains a better monetary system compared to bargaining. The imposition of limiting monetary policy in a disjointed wage bargaining context where workers have considerable bargaining rights can have perverse effects. Notwithstanding the tendency of liberal economists to point labor-market rigidities arising from government regulation and active trade unions as the source of unemployment, evidence exist that the nature of macroeconomic policy can also play a role. Macroeconomic policies are essential, especially in ensuring that wage-bargaining systems are able to deliver wage moderation that is favorable to low unemployment levels (OECD, 2011, p. 328). Centralized bargaining systems only work best under an accommodating monetary policy while bargaining systems organized at the industry level works efficiently under a non-accommodating policy. Therefore...
Words: 1246 - Pages: 5
...Task1:Understand the organisational purpose of businesses P.1.1.Explain briefly the following types of organizations and their purposes. Virgin group ltd Virgin is private limited company and leading international investment group and one of the world's most recognised and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors ranging from mobile telephony, travel, financial services, leisure, music, holidays and health & wellness. Virgin employs more than 50,000 people around the world, operating in over 50 countries. Global branded revenues of £15bn ($24bn) in 2013.(Virgin.com) Sainsbury PLC Sainsbury was founded 1869 by john James Sainsbury and his wife Mary Ann Sainsbury in London and since has become one of the largest retailers in united kingdom. Sainsbury’s is a public limited company and listed in London stock exchange where its shares are traded publicly. Today Sainsbury’s operates over 1,203 supermarkets and conveniences stores and employs around 161,000 staffs. It has a market share of 16.8% of retail sector. Last year it made pre-tax profit of £798m.(sainsburys.com) McDonalds McDonalds corporation is public limited company. Since its founding in 1948, McDonald's has grown from a family burger stand to a global fast-food behemoth, with more than 30,000 locations in 118 countries. McDonalds is popular for big mac burgers all over the wold.it offers business franchise to increase its presence...
Words: 3681 - Pages: 15
...organisation and strategies employed to meet them pg.6,7 2.1 Explain how economic systems attempt to allocate resources effectively pg.7, 8 2.2 Assess the impact of fiscal and monetary policy on business organisations and their activities pg.8, 9 2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organisation pg.10 3.1 Explain how market structures determine the pricing and output decisions of businesses pg.11 3.2 Illustrate the way in which market forces shape organisational responses using a range of examples pg.12 3.3 Judge how the business and cultural environments shape the behaviour of a selected organisation pg.13 4.1 Discuss the significance of international trade to UK business organisations pg.14 4.2 Analyse the impact of global factors on UK business organisations pg.15 4.3 Evaluate the impact of policies of the European Union on UK business organisations pg.15, 16 INTRODUCTION IN THIS ASSIGNEMENT I WILL INDENTIFY AND DISCUSS THE TYPES OF ORGANISATION, I WILL EXPLAIN THE RESPONSABILITIES OF ORGANISATION THE ECONOMIC SYSTE. I WILL SHOW THE KEY OBJECTIVES COMPETITION POLICY AND HOW THE MARKET STRUCTURES DETERMINE THE PRICING OF THE DECISIONS OF BUSINESS. I WILL ANALYSE THE IMPACT OF GLOBAL FACTORS ON UK BUSINESS ORGANISATIONS AND I WILL EVALUATE THE IMPACT OF THE POLICIES OF THE EUROPEAN UNION ON UK ORGANISATION. IN THE END I WILL MAKE CONCLUSION ABOUT THE STRATEGIES, METHODS OF...
Words: 3982 - Pages: 16
...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...
Words: 4854 - Pages: 20
...Banking Research & Writing Table of content Introduction 3 Structure and functioning of UK banking system: 3 Performance measurement system 5 Trading revenues and Value-at-Risk 7 Evaluation of Regulatory Challenges of UK Universal Banking Model 9 Micro and macro prudential regulation 9 Basel II, III regulation 10 Global Financial Crises in UK 12 Conclusion 13 References 14 Introduction The UK managing an account has experienced considerable change in the course of the most recent 20 years, essentially determined by local deregulation and different strengths that have changed supply and interest qualities of the money related administrations industry. Elaboration of structure and functioning of the UK banking industry, Evaluation of Regulatory Challenges of UK Universal Banking Model and Global Financial Crises in UK is discussed further in this paper. Structure and functioning of UK banking system: The UK banking system is regularly said to be very focused and subsequently deficiently aggressive. The UK banking sector contains one market and not many markets. The UK banking system is indeed a mix of numerous separate product markets with rivalry originating from distinctive regions and diverse contenders. The High Street banks are all sizeable members in each of the business sector fragments and giving administrations to the overall population, the leading bank in each one fragment has a tendency to appear as something else. Business banking...
Words: 2870 - Pages: 12
...organization 4 1.2 Describe the extent to which an organization meets the objectives of different stakeholders 5 1.3 Explain the responsibilities of an organization and strategies employed to meet them6 2. Understand the nature of the national environment in which business operate 6 2.1 Explain how economic systems attempt to allocate resources effectively 6 2.2 Assess the impact of fiscal policy and monetary policy on business organization and their activities 7 2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of selected organization 8 3.1 Explain how market structures determine the pricing and output decision of business 9 3.2 Illustrate the way in which market forces shape organizational responses using a range of examples 9 3.3 Judge how the business and cultural environments shape the behavior of a selected organization 10 4.1 Discuss the significance of international trade to UK business organization 11 4.2 Analyze the impact of global factors on UK business organization 11 4.3 Evaluate the impact of policies of the European Union on UK business Organizations 12 References 13 Introduction: The business enterprises are created with the time dimensions for the production and distribution (services) of commodities/ products....
Words: 2823 - Pages: 12
...about which strategies they use to achieve these objectives. There are some internal and external parties involved with large or even small business organization known as stakeholders. Stakeholders may be shareholders, managers or employees, customers, suppliers, lenders, and government. They have some objectives also. Organizations are responsible for their objectives. Organizations are also responsible to the society, and their customers. Every organization should concern about the business and cultural environment. Understanding the business and cultural environment organization can find out its strength, weakness, opportunity, and threats. Knowing these organization can overcome the threats and weakness and can go global. Through international trade organization can easily import or export goods and services which help to increase their economic conditions. Objective of British Airways is to provide smarter, smooth, and more comfortable journey to their passengers or customers. They do variety of jobs to fulfill their stakeholders’ objectives. Almost every organization produces goods and services for domestic demand. But if they produce more products, they can export their surplus to other country by...
Words: 3893 - Pages: 16
...following roles: Deciding the interest rates In order to maintain financial stability, keeping the interest rate at minimum variation is vital. The Bank undertakes monetary analysis in order to achieve financial stability. It also buys and sales securities in the money markets to control interest rates and thus the rates of inflation. Managing of the foreign reserves In order to ensure settlement of international debts, the bank of England actively manages the foreign exchange reserves of the UK. High international debts can negatively impact on the financial market of England. Implementation of domestic monetary policy The bank of England actively regulates the supply of money in the financial market through the use of financial policies to ensure optimum money circulation in the economy. This is achieved by the Monetary Policy Committee that meets every month to assess the economic condition and take appropriate action. (Capie,1994). Issue of coins and notes The bank of England is responsible for issuing new coins and notes to the economy. The Bank monitors the economic condition to assess if it’s prudent to issue the notes and coins. Regulating the UK banking system The Bank of England in partnership with Financial Service Authority and the UK Treasury plays a role in regulation of the banking system. Providing banking facilities The bank is a provider of banking facilities to other banks. In addition, the bank is also a banker of the government. This requires...
Words: 317 - Pages: 2
