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What is John Lewis John Lewis is one of the nation’s leading department stores stocking up to 350,000 lines in home and fashion. John Lewis has embraced a unique pricing policy, that they will be "Never Knowingly Undersold." This means that the customers customers can be confident that the price of any item they they sell will always be as low as the lowest price in the neighbourhood.

Identify the purposes of different types of organisation This offers range of high quality fashion, furnishing, flowers and household go good ods, s, all all de deliv liver ered ed di dire rect ct to thei theirr do door orst step ep.. John John Lewis Lewis plc plc op oper erat ates es de depar partm tmen entt st stor ores es.. It op oper erat ates es wa wait itro rose se su supe perm rmar arke kets ts an and d Jo John hn Lewi Lewiss department stores. The stores offer audio and television, computing, electrical appliances, fashion, furniture, gifts and flowers, home and garden, nursery, sports and leisure, and toys. The company was founded in 1864 and is based in London, United Kingdom. John Lewis plc operates as a subsidiary of  John Lewis Partnership plc.

Make their grocery and homeware shopping easy by e-purchasing from Waitrose Deliver or Ocado. This offers a wide range of products for their  kitchen, home & garden. Items can be ordered separately or at their  weekly grocery shop. An extended range of products for kitchen & home. Their reputation has  been built, built, above all, all, on the quality quality and freshness freshness of of their food. food. It is what their their customers customers want, and it is what gives them the edge over other supermarkets: They are committed to bringing the  best quality food. food. Each of their buyers is an expert in his or her own field. Their job is to seek  out the best of the best superiority food and special ingredients that can not be found in other  supermarkets. Much of their time is spent with the farmers, growers and suppliers, building relationships based on trust and respect.

John Lewis Insurance is with customers, when it matter. From Home and Car Insurance to cover for wedding or pet, they provide high quality, great value insurance. They know it makes sense to buy the important things from someone you trust. John Lewis Insurance can protect their Home - policy options to suit their needs, Car - whether you've got a Mini or Aston Martin, Travel - from short-haul to long-haul, budget to luxury, Pet - cover for dog or cat, Wedding - a range of options to protect

 

the special day, Event - protection for birthdays or anniversaries celebration, Life - cover for  the family or mortgage At John Lewis Insurance, they believe that everything they do should be straight-forward, great value and come with a reassuring extra level of service.

John Lewis - The Gift, helps celebrate a big event and make it easy for  friends and family to buy the right gift! If someone is holding a special event, such as a wedding or an anniversary, friends and family will naturally want to give a gift to mark the occasion. John Lewis Gift will exactly give you the gift they deserve. A free service for you and their guests, A huge range of gifts for all the important life events, Easy to add items using scanners in a John Lewis shop or on the website at home, Several ways guests can buy a present, Keeps track of their gifts, so they'll know exactly who  bestowed  besto wed what, free two and five year guarantees on many electrical and techno technology logy products, products, Prices that are 'never knowingly undersold' in their shops & Free delivery

Offering Offer ing the highe highest st qu qual ality ity an and d the ve very ry best best valu value, e, Jo John hn Lewi Lewiss Solutio Sol utions ns for busines businesss provid provides es an extensiv extensivee choice choice of produc products ts for   professional  profes sional customers. customers. Offering the superior superior quality and the very best value, John Lewis Solutions for business provides an extensive choice of products and services for commercial customers. customers. This service is purely for the commercial market, making their life easier by providing customized deliveries, competitive discounts and continuous support from their dedicated Solutions for business team. Whether customer designing a stylish shows home interior or hotel space, or creating a breakout area in the office, they can help customer achieve their aim at a range of budgets.

This offers an array of wines & also you can mix their own offers. You have more than 15 different taste of wine which carries quality of its own. It helps customers to pick the exact wine for their occasions. You can even gift wines and receive special discount ranging from 10 % to 50%. You have the facilities of door to door delivery, paying on line, buying guide, etc.

The  partnership card  is issued and managed by John Lewis Financial Services Limited, which is a member of the HSBC Group of Companies. The John Lewis Partnership teamed up with the HSBC Group in 2003 to create and jointly manage John Lewis Financial Services Limited, with the aim of providing providing a

 

card offer that is right for John Lewis and Waitrose Customers. The combination of the John Lewis Partnership's retailing expertise and customer knowledge, combined with the HSBC Group's Gro up's signific significant ant card experie experience nce and technol technologi ogical cal skills skills enable enable Jo John hn Le Lewis wis Financi Financial al Services to offer a compelling and attractive credit card.

 

Descri Desc ribe bess th thee ex exte tent nt to whic which h an orga organi nisa satio tion n meet meetss the the obje object ctiv ives es of diff differ eren entt stakeholders Engaging the stakeholders

 

They The y believe believe that being being a respon responsib sible le retailer retailer means means respect respecting ing the interest interestss of all their  their  stakeholders, and this involves listening to them, responding to their concerns, being honest in their expectations and fair in how they report their performance.

John Lewis is actively engaging and involving the betterment of the key stakeholders shaping their vision and programmes for Corporate Social Responsibility (CSR). Government, NGOs and other stakeholders

As a responsible company they aim to meet the spirit as well as the letter of the law. They give a focused view to Government consultations on regulation which will impact their business and engage in regular dialogue with policy makers on key issues affecting their partners, their  customers and the communities in which they operate. They are active on a number of business leaders forums and government policy advisory groups, including the Climate Change Leaders Group, the British Retail Group and the Retail Energy Forum.

Local Establishment

They work closely with local authorities during the planning and construction of all their new  builds.. With a growing  builds growing network network of shops they need to ensure that their new shops are built respo respons nsib ibly ly an and d will will oper operate ate sust sustain ainab ably ly in order order to minim minimis isee bo both th their their impa impact ct on th thee environment and the local community.

Watchdogss - Regulators Watchdog

They work closely with regulators such as the Environment Agency and the Health & Safety Executive to make sure that the Partnership operates in compliance with the law. On the very rare occasions that legal compliance issues occur, they respond immediately, working with the regulator and any other organisations concerned to rectify the situation and put right any  problems  proble ms caused. caused.

Trade Relations

The Partnership is a member of the British Retail Consortium (BRC), the UK's leading trade association for the retail industry. Representatives from both Waitrose and John Lewis sit on

 

various Policy Advisory Groups including those covering CSR, food standards, chemicals, the enviro env ironme nment nt and produc productt stewar stewardshi dship. p. The The BRC BRC works works closel closely y with with go gover vernme nment nt on all campaigning campaig ning and policy issues on behalf of its members, members, and has built a firm and constructive relationship with key governmental departments. In addition to this, the BRC (www.brc.org.uk) has strong ties and dealings with the numerous regulatory agencies and non-governmental organisations (NGOs). NGOs and consumer associations

They The y work work proacti proactively vely with with non-go non-gover vernme nmental ntal organis organisatio ations ns and consum consumer er associa associatio tions, ns, responding to their requests for information and entering into constructive engagement on campaign issues that they believe should be supported. Examples include their work with Greenpeace on sustainable fish and sustainable timber; the Roundtable on Sustainable Palm Oil; and Linking Environment and Farming (LEAF).

Other Associations They Th ey work work with with many many or orga ganis nisati ation onss which which provi provide de th them em with with indep indepen ende dent nt ad advi vice ce an and d

ex exper pertis tise, e, help helping ing th them em defin definee their their CSR CSR polic policies ies an and d prog program ramme mes. s. They They also also active actively ly  participate in a number number of indus industry try groups groups and forums that that promote promote the CSR agenda, agenda, and work  to develop industry-wide solutions to the many challenges they face.

Customers and Local Communities

They aim to deal honestly with their customers and secure their loyalty and trust by providing providing outstanding choice, value and service. They like to hear what their customers think and they want to know how they can do things better. Only by gathering feedback on their performance can they maintain and raise their standards of customer service and keep customers satisfied. They do their best to enrich customers to give us feedback, both positive and negative, by being open to comments and making it clear how customers can contact them. They also gather  feedback theirs elves through a variety of methods, such as customer surveys, panels, focus groups and online feedback forms.

Local communities

As a large retail company they appreciate that they have a significant impact on the community. They Th ey en enga gage ge wi with th th thee co comm mmun unit ity y in a nu numb mber er of ways ways,, an and d aim aim to bu buil ild d lo long ng-te -term rm

 

relationships with local interest groups. Both Waitrose and John Lewis are actively involved with their local communities, not just through donating money and providing support and assistance, but by talking with local communities, understanding their needs and issues and reco recogn gnis isin ing g th thei eirr po pote tent ntia iall impa impact ct on lo loca cali litie tiess an and d th thei eirr ab abil ilit ity y to he help lp.. The hey y of offe fer  r  opportunities for Partners to volunteer their time and get involved in local events and activities.

Employees (Partners)

The John Lewis Partnership's 70,000 permanent employees are known as Partners, because they are all owners of the business and share in its success. As Partners, they all have a say in how the business is run, as well as an equal percentage share in its profits. Giving their Partners a 'voice' is central to the principles of co-ownership and they engage the views and opinions of  their Partners through a number of key channels.

Registrars

The Partnership has a team of Registrars, whose role is to act as guarantor of the Partnership difference and to help management and non-management Partners understand and live up to their the ir respon responsib sibiliti ilities es as co-owne co-owners rs of the busines business. s. Registr Registrars ars provide provide a very very importa important nt indep ind epen ende dent nt voice voice in th thee bu busi sine ness ss:: they they ar aree re resp spon onsib sible le fo forr mana managi ging ng and gu guidi iding ng th thee Partnerships democratic bodies; they provide a sounding board for senior management; they make sure all decisions have input from and are understood by all Partners; and they act as independent, trusted advisors to Partners at all levels.

Publications

The Partn The Partner ersh ship ip ha hass a nu numb mber er of staff staff journ journals als th that at ke keep ep Partn Partner erss ab abre reast ast of bu busi sine ness ss developments, but also play an important role in promoting democracy. Their company-wide weekly weekl y publication, publication, the  the  Gazette, was set up by their founder both to communicate news to Partners and to give them a forum for airing their views. To this day, Partners can write in to the Gazette anonymously if they wish, on any matter. All letters are published together with a reply (if required) from a director or senior manager. Suppliers

Their relationships with suppliers, like their relationships with customers, are based on honesty, fairne fai rness ss,, court courtes esy y and pr prom ompt pt atten attentio tion. n. They They inves investt in su supp pplie lierr partn partner ershi ships ps bu built ilt on commitment and trust, which allow their suppliers to be genuinely rewarded for the quality and

 

integrity of the products they supply. They expect their suppliers not only to obey the law, but also to respect the rights, interests and well-being of their employees, their communities and the environment. As well as the day-to-day communications between suppliers and their buying teams, they engage with their suppliers through conferences, forums, workshops, partnered  projects,  project s, information information programmes, programmes, open days, dedicated dedicated supplier supplier online data-exchange data-exchangess and specific initiatives such as their responsible sourcing programme.

Explain the responsibilities of an organisation and strategies employ to meet them

The Partnership was ahead of its time in recognising that commercial success depended on showing the highest level of good citizenship in its behaviour within the community. Today they are best known for the fact that their business business is owned for the benefit of their employees employees all of whom are Partners and share in its profits but they know that to cut their way through

 

tough competitive conditions, they have to continue to prize sound relationships with their  customers and suppliers, and sustain a keen sense of civic responsibility.

Their founder's ideals, set out in their Constitution, are the inspiration behind their approach to corporate social responsibility and shape the principles they apply. They are determined to embrace diversity and earn a reputation as an 'employer of distinction' by treating all their  employees (Partners) as individuals, with respect, honesty and fairness.

Sharing Sha ring the rewards rewards and respon responsib sibiliti ilities es of owners ownership hip and conduc conducting ting their busines businesss with with integ int egrit rity y an and d co cour urtes tesy y are th thee princ principl iples es they they live live by by;; th this is appro approac ach h un unde derp rpins ins their  their  enviro env ironme nmental ntal policie policies, s, their their involve involvemen mentt with with local local commun communitie itiess and their their approac approach h to responsible sourcing and trading.

Their Strategy

The Partnership's status is founded on the uniqueness of their ownership structure and their  commer com mercial cial succes success. s. Their Their purpos purposee is 'the happin happiness ess of all their their member members, s, throug through h their  their  worthwhile, satisfying employment in a successful business', with success measured on their  ability to sustain and enhance their position both as an outstanding retailer and as a thriving example of employee ownership.Their strategy is based on three interdependent objectives Partners, customers, profit which together will make us a successful business:



Partners should gain personal satisfaction by being members of a co-owned enterprise

in which they have worthwhile, secure and fulfilling employment and confidence in the way   •

the

Partnership

conducts

its

business.

The Partnership should recruit and retain loyal customers through their continued trust and confidenc confidencee in their their reputa reputation tion for value, value, choice, choice, service service and honest honesty y and for   behaving  behavi ng as good good citizens. citizens.



The Partnership should make sufficient sufficient profit to sustain their commercial vitality and distinctive character, allow continued development and distribute a share of profits each year consistent with Partners' reasonable expectations.

These objecti These objectives ves build build on the advanta advantages ges of their their co-own co-owners ership hip str structu ucture re and demand demand an appetite for continuous improvement, innovation and enterprise to maintain the vigtheir of their 

 

commer com mercial cial and democr democratic atic capabilit capability. y. They They also also require require the highes highestt levels levels of corporat corporatee governance through effective Audit, Corporate Social Responsibility and Risk Committees. Achieving their three objectives requires us to demonstrate the benefits of co-ownership and the behav behaviou iours rs that that diffe differe renti ntiate ate us. us. Thei Theirr abili ability ty to co compe mpete te ag again ainst st an and d ou outpe tperfo rform rm conventional companies will be the most important illustration of the effectiveness of their  approach to business.

Explain how economic systems attempt to allocate resources effectively Human Resources at John Lewis use labour market information to help them with their HR planning. The information allows us to look at local employment trends so they can indicate the availability of  labour in certain areas, so they can see whether it is in fact easy or difficult to hire .It also can be used to see whether a large company has made employees redundant which means there will be more workers available with the skills that could be transferable to the job. Local skills shortages are

 

another piece of valid information that HR department find valuable as they can expand their own training schemes for employees to build up their skills. HR feel that coming together with fellow companies and employers in the area in which is in a similar industry, can support local schools and colleges so that people can develop their skills early on. Competition for employees is important for  Hr to be aware of, as they will want know whether fellow competitors are enlarging the company and will in turn have a larger demand for labour.   Human resources use this information in particular to overview the level of unemployment within certain regions and areas. Through this there will be a higher availability of labour, and so more  people can commute easily the work place.

Assess the impact of fiscal and monetary policy and other regulatry machanisms on the activities of a selected organisation

 No data data availbale availbale on the the above above subject subject

Evaluate Evalua te the impact impact of compe competit tition ion po policy licy an and d other other regua regualto ltory ry machan machanism ism on the activities of a selected organisation John Lewis changes “Never Knowingly Undersold” promise

John Lewis is changing its 82-year-old promise to beat every other shop in the country on  price. The department department store group group is running which it will only match prices of all of its competitors compe titors within an eight mile radius of its stores. stores. Increasing Increasing competition from independent independent

 

discount stores and out-of-town retail outlets means it is now “unviable” for John Lewis to guarantee lower prices than every single shop in the country, the firm said.

Instead the retailer has split its competitors into two types: independent stores and national chains. While it will continue to beat all national chains on price, it will only match prices at independent stores if those stores are located within eight miles of one of a John Lewis outlet. Although the chain insisted it has always imposed geographical limits on its price guarantee, the eight-mile boundary is likely to be news to the millions of shoppers who have assumed that if they bought something from John Lewis and then saw it cheaper anywhere else, John Lewis would refund the difference.

John Lewis described it as a “positive move” which would eliminate any confusion over the terms of its policy. The Never Knowingly Undersold motto, which dates back to 1925, will remain in use throughout the country. At the same time the firm is increasing the number of  staff it employs to check the prices of competitors to ensure its prices are the lowest. As well as each store employing its own price-checkers to compare prices locally, the company had now recru recruite ited d a centr central alise ised d team team whic which h will will chec check k price pricess at natio nationa nall chains chains su such ch as Argo Argos, s, Debenhams and House of Fraser, giving the local teams more time to check independent stores. “The whole thing is designed to make the policy of Never Knowingly Undersold, which in the  past has been less than clear to a lot of customers, customers, much more clear. It is a real plank of our  commitment to our customers.

Explain how market structures determine the pricing and out decisions of businesses

The business was founded in 1864 when John Lewis set up a draper's shop in Oxford Street, London, which developed into a department store. In 1905 he bought the Peter Jones store in Sloane Square. In 1920 his son, John Spedan Lewis, expanded earlier power-sharing policies  by sharing the profits the business business made among the employees. employees. The democratic democratic nature and  profit-sharing  profit-s haring basis of the business business were developed developed into a formal partnership partnership structure structure and

 

Spedan Lewis bequeathed the company to his employees. As of March 2008, there are 67,000  partners – the majority majority full-time full-time – working working for the John John Lewis Lewis Partnersh Partnership. ip.

The principle and slogan  Never knowingly undersold was undersold  was adopted in 1925. It was created by Spedan Lewis and applied to the company's Peter Jones store. It stated that if a customer could  buy the same item cheaper elsewhere elsewhere they would refund the difference. difference. Today, Today, the company company still honours this pledge, pledge, and many of their competitors competitors also offer such a pledge. pledge. The principle has been more refined, most notably to exclude online shopping. However, they were the only large retailer that would match the price with any UK shop, not restricting it to a local area, until DSG International plc adopted the same policy in July 2007. The policy is also to monitor  local competitors and reduce the shelf edge price if they are being 'undersold'. The present shop on Oxford Stree Streett was completed in 1960, the original original buildings buildings having been  bombed  bomb ed during the war and gradually gradually rebuilt. The sculpture sculpture Winged Figure by Barbara Barbara Hepworth was added in 1962.

Illustrate the way in which market forces shape organisational reponses using a range of  examples Ex – Waitrose

In a challenging market Waitrose grew sales by 5.2% to just over £4bn for the first time. Likefor-like sales grew 0.4%, excluding petrol. Operating profit, before property gains, fell by £7.4m, or 3.4%, to £211.6m, reflecting our determination to invest in retaining our customers

 

and growing growing our presence. presence. After propert property y gains, gains, operati operating ng profit profit fell £1 £13m, 3m, or 5.7%, 5.7%, to £214.6m.

They invested heavily in price, with over £30m in price reductions and 8,400 promotions, an increase of 25% on the prior year. Their investment in price was greater, in proportion to our  size, than our competitors. They also communicated these changes more clearly and directly, showing competitors' prices in store for the first time. They invested in product quality and innovation with £9m spent on product development, and They re-introduced 'Forgotten Cuts' –  a range of lesser known, economical cuts of meat such as ox cheeks, beef skirt and lamb shoulder shanks. Waitrose only stocks 100% British fresh pork and last year they maintained our long-term support for UK agriculture by becoming the first major retailer to source 100% of our bacon from Britain. The customer response was encouraging with an increase in our   primary shoppers. shoppers.

Strong control over our variable costs, which fell by 10 basis points as a percentage of sales, was achieved by focusing on efficiency but at the same time they continued to invest in service, stret stretchi ching ng ou ourr lead lead ov over er ou ourr comp compet etito itors. rs. Thes Thesee saving savingss were were of offse fsett by an increa increase se in overheads, primarily £6m of higher utility costs, driven by external market forces.

They continued to grow strongly with 11 new stores in the UK in 2008, including two new market town shops and our first new convenience shop format. They also converted an existing  branch to to become a third market market town shop. shop. They They opened opened two Waitrose Waitrose shops shops in Dubai under under a licensing agreement with Finefare Food Market. Our online service Waitrose Deliver is now available in 94 branches, growing in parallel with Ocado, with whom Waitrose has a supply relationship. relations hip. Our buying alliance with Booths, Booths, announced in September 2008, will allow us to  build economies economies of scale and boost profitability in the long term. In 2009 they plan to open a further 22 shops (eight new and 14 acquired branches), employ 4,000 new Partners and extend three existing stores. This will take our estate to 220 stores in the UK and, with further  investment in our price commitment and the launch of 'Essential Waitrose', they will continue to improve value for customers through 2009.

 

Judge ho Judge how w the busine business ss an and d clutur clutural al enviro environme nments nts shape shape the be behav haviou iourr of a slected slected organisation

It is the culture of ownership that matters most when it comes to employee share ownership . Without that, employee ownership is simply an extension of the benefits package. The culture of ownership which is the focus of most of the Constitution of their company and is where they devote our energies. There are three rewards of ownership which guide them. As an

 

owner you have the right to knowledge, you have the right to profit and you have the right to  power.  powe r. In the Partnership they share a huge amount of information in a host of ways. They have a tradition of internal journalism with 70,000 thousand copies each week of internal publications. A ma manag nager er in one one of th thei eirr sh shop opss will will frequ frequen ently tly sp spen end d 20 20-4 -40 0 pe perr ce cent nt of th their eir time time on communication.

They also split profit. That is not unusual. What is the way they do it? They share profit based on a principle of fairness and clearness. The amount of profit you receive is based on the value of your contribution to the company. That's best reflected in what you are paid and every Partner from the Chairman to the weekender in Waitrose gets the same percentage of pay - 20  per cent last year and around 15 per cent on average over 20 years. That amounted to £181m £181m last year, or around 50 per cent of distributable profit. Because of their ownership structure they also have a final salary non-contributory pension that remains open.

They also share power. This comes in various forms. forms. At one level they have a commitment commitment to consult on any changes to working conditions. But the most important manifestation of 'power' is the accountability of managers to the Partners Partners they manage. manage. They have elected councils councils at all levels in their organisation and the management will be quizzed by them several times in a year.

Discuss the significance of internationl trade to UK business organisations

In recent recent UKTI UKTI surveys surveys exporte exporters rs have have consis consisten tently tly highlig highlighted hted the benefits benefits of gaining gaining increased exposure to new ideas as a result of doing business overseas. This gives them the opportunity oppor tunity to develop new and improved products products and services, services, which can help them to gain and retain competitive advantage at home as well as overseas.

 

A study conducted conducted by Aston University University of a sample of 400 firms reveals that exporters exporters invest, on average; average; an additional additional £65000 £65000 on R&D.UK owned exporters exporters contribute contribute disproportiona disproportionately tely to the value of R&D conducted in the UK, accounting for nearly twice as large a portion of  R&D as their share of UK GDP would predict.

Robotics engineering firm Shadow Robot [see picture above] based in Islington, is an example of a company which has prospered due to its progressive, knowledge-based export strategy. Technical director Rich Walker explains: 'It was clear from very early on that Potential customers with money were in Europe, Japan, and the USA. They now see most of  their business come from a range of overseas customers, and they continue to reach out abroad to international trade events where they can expect to find new areas to exploit their key technologies. This contact also gives us insight into other customer needs that their R&D group can help them work towards'

The Export Advantage - Why International Trade is More Important than Ever Economic research consistently shows companies who export to any country, in any financial

climate, performs better than those who don’t.

Export Benefits •

Improve their productivity



Achieve levels of growth not possible domestically



Increase the resilience of their revenues and profits



Achieve economies of scale not possible domestically



Increase the commercial lifespan of their products and services Increase the returns on their investment in R&D



Improve their financial performance



Feel the benefit



Analyse the impact of of global fators on UK UK business organisations organisations

Global Factors Key factors factors influen influencing cing global global busines businesss organis organisatio ations ns can be summar summarised ised under under the PEST PEST heading: 1.

Political

2.

Economic

 

3.

Social

4.

Technological

Political



Politica Politicall Change Change – regime regime change change throu through gh coup, coup, viole violence, nce, etc. etc. Change Change in gove governm rnment ent through democratic election can influence future business strategy.  – e.g. the opportunities opportunities that are now available in Russia Russia and Eastern Eastern Europe Europe following the collapse of communism



Poli Politi tica call Unce Uncert rtai aint nty y – in co coun untr trie iess like like Zimb Zimbab abwe we,, Suda Sudan, n, Vene Venezu zuel ela. a. Poli Politi tica call uncertainty can lead to a fall in investment by businesses and influence decisions on expansion and business ventures



War/ War/Te Terr rror oris ism m – crea create te unc uncer erta tain inty ty



Politica Politicall Doctrin Doctrinee – can affec affectt the ease ease with with which which busine business ss is cond conduct ucted ed

Economic • All these these facto factors rs need need to be be consid considered ered in in any global global busin business ess vent venture: ure:

 –

Tax Systems Systems

 –

Investment Investment Conside Considerations rations and Allowance Allowancess

 –

Sophisticatio Sophistication n of Financial Financial Markets Markets – ease ease with which which capital capital can be be moved moved and raised

 –

Commodity Commodity Prices Prices – oil, oil, energy, energy, metals

 –

Monetary Monetary and Fiscal Policies Policies – interest interest rates, rates, tax regimes, regimes, government government aid

 –

Internal Regulation Regulation and Bureaucracy Bureaucracy – can can be stifling! stifling!

 –

Exchange Exchange Rates Rates

Social



Relig Religio ious us Consid Consider erati ations ons – appro appropr priat iaten enes esss of some some bu busi sine ness ss venture venturess – e. e.g. g. selling selling condoms in staunchly Catholic countries



Impact Impact on local local commun communitie itiess of busines businesss develop developmen mentt – availability availability of jobs, jobs, trainin training, g, environmental impact for these communities

• •

Impact Impact on on the environ environmen mentt – can impact impact on on the busines businesses ses image image Ethic thical al cons consid ideera rati tio ons

 



Cultural is issues



The impac impactt on the local local environ environmen mentt not only only affects affects human human commu communitie nitiess but can also also inflict widespread ecological damage. This imposes social costs on the environment but also can cost the business large sums in legal costs and compensation.

Technology



Availab Availabilit ility y and develo developme pments nts in techno technolog logy y can have have a powerful powerful influ influence ence on glob global al  business  busine ss strategy: strategy:



e.g.  –

Access Access to bandwidt bandwidth h

 –

PC ownership ownership

 –

Technology Technology and and sales sales – processing processing payments payments and sales

 –

Compatibility Compatibility of technologies technologies in Business Business Management Management – accounting accounting systems, systems, language differences, etc.

Evaluate the impact of polcies of the european Union on UK business organisation

The Renewed EU Sustainable Development Strategy was adopted by the European Council in June 2006. It is an overarching strategy for all EU policies which sets out how they can meet the needs of present generations without compromising the ability of future generations to meet their needs. The Sustainable Sustainable Development Development Strategy deals in an integrated integrated way with economic, environmental and social issues and lists the following seven key impacts:

 



Climate change and clean energy



Sustainable transport



Sustainable consumption and production



Conservation and management of natural resources



Public health





Social inclusion, demography and migration Global poverty

Advantages •

Transaction costs will be eliminated.



Price transparency.



Uncertainty caused by Exchange rate fluctuations eliminated.



Single currency in single market makes sense.



Rival to the "Big Two".



Prevent war.



Increased Trade and reduced costs to firms.



The Political agenda.



Inflation

Disadvantages •







The instability of the system. Over estimation of Trade benefits. Loss of Sovereignty. Deflationary tendencies.

References:

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Berry, M. (2007): Mark and Spencer to revamp final pension scheme; retrieved from http://www2.marksandspencer.com/thecompany/mediacentre/pressreleases/2007/fin2007-0123-00.shtml accessed on 1st January 2008 Harris, R. and Q. Cher Li (2007), Firm Level Empirical Study of the Contribution of Exporting to UK Productivity Growth

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