Internal and External Contemporary Business Environment

INTRODUCTION

Contemporary means belonging to same time period and it refers to present time. Therefore, contemporary business brings up the current circumstances and ideas which are establishing in present market. Nature of contemporary business environment is dynamic, competitive due to reducing trade barriers and increasing liberalization. Also, contemporary business environment is very challenging for the existing businesses as they have to put lot more efforts and work harder to keep up with the changing market condition. Various factors are present in external environment of business which has its impacts on the operations and internal situations of it. These factors holds huge importance in day to day business and for long term survival of company and its operations. For studying the impacts and other aspects of contemporary business environment Vodafone is chosen, which is a mobile phone company of UK. Vodafone is a telecommunication service provider, established in UK and worlds second largest mobile phone company(Boone and et. al., 2019). Vodafone was founded in 1991 by Ernest Harrison and Gerry Whent and headquartered in London, Newbury and Berkshire. In 2010 Vodafone launches it new mobile phones which are cheapest in the whole world and known as Vodafone 150. The company is listed on LSE (London Stock Exchange) and FTSE (Financial Times Stock Exchange). Vodafone servers to worldwide consumers having its operations in over 25 countries along with huge customer base and great market share in the industry. Due to its geographical diversification company also have very big employee base which is mixture of expertise and best talents in workforce, performing their duties on company`s behalf.