The internal and external factors that affect a company’s functioning come under the business environment. This sample presents a case study of Iceland Foods Ltd, a private British supermarket chain in the UK, to understand its market structure and various other factors that determine its output decision. The sample also sheds light on the impact of competition policy and other regulatory mechanisms that impact the business practices of Iceland Foods Ltd.
Business environment means all of the internal and external factors that affect company's functions including employees, customers, and management, supply & demand and business regulations. Keeping such importance of business environment in mind, Global Assignment Help has composed this business and business environment assignment sample for the benefits of students. A thorough reading of it will enable them to know how the study on business environment helps the organizations to find out all those forces that can enhance sustainability aspects (Yu and Ramanathan, 2012). The present study has been made on Iceland Foods Ltd which is a private British supermarket chain operating business in UK. The company has an approximate market share of 1.8% in UK food market. The entity conducts its business in competitive market place and it sells frozen foods including meals and vegetables.
Thus, as per the research study, specific information about the market structure of Iceland Ltd has been discussed and along with the same, researcher has also stated several aspects that determine output decisions of the business entity. Furthermore, discussion has also been made on impact of competition policy and other regulatory mechanisms that affect the business practices. Stakeholders play crucial role in the organization; thus the ways through which Iceland manages stakeholder's interest are also discussed in the present research study. Lastly, the benefit of international trade to UK business organizations and to Iceland is also stated.
Understand the organizational purposes of businesses
1.1 Identify the various types and purposes of different business organizations
Different types of organizations exist and operate within an economy. The varied range of business units that operates within country are detailed underneath.
Sole proprietorship: The business unit that operates at small scale and is registered as sole proprietor is referred to as sole proprietorship. It is owned and controlled by single owner who takes entire responsibility of managing business operations.
Partnership: The partnership is a business unit that is owned and controlled by two or more partners. The partners mutually manage business activities and shares all profits and losses.
Publically listed company: This form of businesses is listed as a publically listed company. The business unit is managed by top management and owned by shareholders. It is listed as a company whose real owners are shareholders.
Iceland supermarket: Iceland supermarket is a private retail entity and the business provides all type of food services to the consumers. In other words, it can be said that Iceland supermarket is large retail firm which is providing retail products to the general public. Iceland began business in 1969 and afterwards the establishment of business, numerous stores has been opened by the business entity. The business sells all food services and this helps the entity to operate the business with Spanish based retailer overseas (Yannelis, 2004). The main purpose of Iceland supermarket is to deliver prominent services to the clients so that they may not switch to another brand.
KFC: KFC is a fast food restaurant chain that specializes in fried chicken and the major headquarters are in United States. It is the world's second largest restaurant chain after McDonald's and the company is a subsidiary of Yum Brands which is also a restaurant company that owns Pizza Hut and Taco Bell chains. The main purpose of KFC is to deliver quality and different variety of chicken to the customers so that they can enjoy fast food. It was one of the first fast food chains to expand internationally and it has opened outlets in different parts of USA (Xiao and Fu, 2009).
Transport for London (TFL): TFL is a statutory corporation and is a local government body responsible for most aspects of the transport system in Greater London. It was formerly named as London Transport; however now its role is to implement the transport strategy and also to manage transport services across London.
Cancer research: Cancer Research UK is a cancer research and awareness charity in the UK and that works as a charitable organization. The main purpose of cancer research is to treat patients suffering cancer issues. It raises money through donation, legacies, events, retail and corporate partnership and community fund raising (Shaikh, 2010)