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Unit 38 P5 M3

In: Business and Management

Submitted By hayden
Words 1220
Pages 5
P5 M3
Assess the impacts of changes in global and European business environment on a selected business.

Oil price fluctuations
Crude oil is the worlds most traded commodity by value, it is vital for many industries e.g. transportations, polymers and energy production that are closely linked with oil production

As you can see in the image above the price of oil has crashed within a few months which has drastically decreased the price of fuels, the cause of this crash was due to new production methods which allowed other people to produce oil rather than the just the few that could before, this new method is called fracking.

Assessment of impacts for KI

KI are not heavily reliant on oil, they only use fuel for their cars which their main consumption. The price of fuel does influence them though, the biggest benefit is the effect on the customers, the lowering of the price of fuel means that people will, in effect, have a small pay rise, this will help KI as this will increase their customer’s disposable income and increase their consumer confidence. KI will always have oil related costs linked to their business as they use energy that is produced from oil and resources that wouldn’t be possible without oil e.g. polymers. The lowering of the oil price will help KI to maximise profits as they will be spending less on things that are oil based. KI may see people coming from further afield as the customers may thing that this drop in fuel price will allow them to live further away from their jobs or travel further to work.
When the oil prices fall this means that inevitably, businesses will be more profitable which will make their stakeholders wealthier and their employees wealthier and could increase the chances of them buying a house.
European union- is a politico-economic union of 28 member states that are located primarily in Europe.
The biggest…...

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