Business Environment Impacts on Production and Profitability of the Company

Learning Outcomes

LO1. Present knowledge on the fundamental elements of the internal environment of organisations and the interaction with the external environment.

LO2.Explain the role of government and how market economy functions.

LO3.Evaluate the economic environment within which businesses operates in the United Kingdom.

LO4. Demonstrate why countries benefits from trade with each other.

LO5.Explain growing impact of the European Union on British business.

Task

Produce an academic essay on a chosen Mobile Phone company and employing relevant Business environment and Micro Economic concepts and approaches. Identify how and why your chosen Mobile Phone company requires to audit their External and Internal business environment and also how they can achieve insights into their Micro Economic Environment.

This task cover LO1 and 3.

Answer :

Organization Selected : 

INTRODUCTION

In modern times, the business environment is changing and fluctuating with time as well as nature in order to conduct different types of operational activities that happen within organisation (Aćimović and et.al., 2014). Contemporary business environment is defined as on-going procedure that move due to different elements such as sudden changes in demand and supply, customer interest and changing taste & preferences. There are defined different elements like suppliers, inner and external factors, competitors that present impact on the efficiency of an organisation. To understand the concept of the report selected organisation, Alcatel Lucent Nokia this is a French global telecommunication company. The report identify all the microenvironments, organization can consider different aspects such as supply as well as demand, internal analysis, elasticity etc. These aspects impact on the business profitability in positive manner.