Introduction Business Environment
Business Environment is combination of internal and external elements which affects the business and their stakeholders. Internal factors affects internal environment of the firm which includes policies, practices, employees, etc. whereas external factors are competitors, laws, market structure, etc. It is easy to handle internal factors as compare to the external. So it is important to gather information about these factors including social, political, economic and legal aspects for working effectively in achieving decided objectives (Hamilton and Webster, 2012). Different organisations have different purpose and objectives while some focus on earning profit and some on social welfare. Each company has its size and type on the basis of which it achieves its targets and goals. Stakeholders plays important role in success and growth of any company, they have their area of interest and affects the firm in either positive or negative way and it is the prime responsibility of the company to fulfil demands of stakeholders (Wetherly and Otter, 2014).
For explaining all these factors, Iceland Supermarket is taken into consideration in this report. It is a chain of supermarket in Britain which gives emphasis on frozen foods which includes meals and vegetables. They also sell meat, dairy products and dry goods. The study focus on the purpose of various organisations, stakeholders of Iceland Supermarket, their responsibilities towards stakeholders, market structure, various policies, global factors and international trade. In the end, report is concluded in the form of summary with the key findings.
Purpose of various organisations listed below:
The purpose of various organisations is explained below:
Iceland Supermarket: This supermarket is a limited company which has 1.8% share of UK food market. Private Limited firms do not provide their shares to the public or we can say that these organisations are not accessible for the public. The capital of these firms is either more or less as compare to public limited firms. The purpose of this supermarket is to provide frozen meal to the customers that include prepared meals and vegetables. It does not compromise with the quality and value of food and works according to the statement “the food you can trust” by delivering healthy and tasty meals to the customers (The Iceland Story) .
KFC (Kentucky Fried Chicken): It is an incorporate type of firm whose purpose is to deliver fast food especially non- vegetarian to the customers and using the earned profit in the growth of the company. Owner of KFC does not use the revenue for his personal use. KFC is a customer focused chain of fast food which specializes in fried chicken. It sells fast food which appeals to the customers who are price as well as health conscious. By investing the profit, firm increases its product items and improves the quality of food (Guay, 2014).
Transport for London (TFL): It is public government organization whose shares are available to the public and is added to the stock exchange. The main purpose of this firm is social welfare and then profit earning. The main aim of this firm is to use such transport strategies which can manage transport services across London. It focuses on creating values for their users by providing them with high quality and innovative solutions. For public welfare, it concentrates on friendly, safe and sustainable environment by minimizing impact of its operations and pursuing all business policies for continue improvement in environment (Brinkman, Navarroand Harper, 2014).
Cancer Research: It is a non government organisation which works for cancer patients and its awareness among the people. It is neither a part of UK government nor a private firm which focuses on earning profit. It is a world's largest charity whose purpose is to minimize the number of cancer deaths. It provides information about various types of cancers, their symptoms, treatments, medicines and many more by researching into the prevention, diagnosis and treatment of cancer disease. For influencing people it also conducts various campaigns and activities.
The extent to which Iceland Supermarket meets the objectives of its different stakeholders
Stakeholder is a person, group and society who is affected by the decisions and actions of the organisation or affects the working of the organisation. There are different stakeholders who have different areas of interest. The various stakeholders of Iceland Supermarket are explai