Business Environment Assignment

Business Environment Assignment-68
There are three types of Economic systems, which are Command Economy, Free market Economy and Mixed Economy.

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Business Environment Individual Assignment BTEC EDEXCEL HND DIPLOMA IN (MANAGEMENT & HUMAN RESOURCE) OFFERED BY INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY Ancoombra Tea Factory Unit 1: Business Environment F. Mohamed Firnaz BM K 23 ICBT Kandy Campus Assessor: Mrs.

Lasanthi Gunasekara Submission: 08/08/2012 BM K 23 1 Business Environment Individual Assignment Acknowledgement  I would like to thank Ancoombra Tea Factory Proprietor Mr.  Also I would like to thank all my friends and classmate who supported me in different way to complete the Assignment successfully.

Ancoombra tea factory won Prestigious 5 `S` Award (Given by Japan) 1. So it enables to produce high quality tea with high technology machines with an affordable price.

Suppliers sell to consumers at a low price than the competitor because Ancoombra sells at a very low cost to suppliers because their manufacturing charge and labour is very low.

33 Impact of European Union in UK Business ............................................................................................ Medium Business  Operates Locally or internationally  Employee Between 50-250 People Example: Singer PLC 3.

33 Policies of EU ......................................................................................................................................... 33 Recommendations and Conclusion ............................................................................................................. 35 References ................................................................................................................................................... 36 Appendices.................................................................................................................................................. 37 Figures: Page Number Stakeholders Map 12 Demand and Supply Curve 16 UK Budget Dificit 23 Inflation Rate 23 UK Recent Interest Rate 24 Tables: Objectives of Stakeholders 13 Importance of dealing with Stakeholders 14 BM K 23 5 Business Environment Individual Assignment Introduction The Ancoombra Tea factory is located in the small town of Ankumbura, in the Central province. P health certification for maintaining the most hygienic standards of tea production and last but not least, the ‘Entrepreneur of the year’ National award BM K 23 6 Business Environment Individual Assignment Section 1: LO 1.1 Types of Organizations Available in Sri Lanka Categories of Organization 1. Large Business  Has Household names, easily recognized logos  Factories, offices & outlets are located in other locations  More than 250 employees  National & multinational Business Example: Singer PLC, Cargills PLC, Damro BM K 23 9 Business Environment Individual Assignment Legal Form 1.So it makes consumers to satisfactory because Customer expects tea for affordable price and the quality for the money they pay.BM K 23 16 Business Environment Individual Assignment LO 3.2 Demand and Supply Curve Figure No.2 Demand and Supply Curve  In Ancoombra tea factory can see positive shift in Demand 1 and Demand 2 resulting increase in price also increase in quantity as well, this happens very rarely in any organization and this tells the quality and the trust of the consumers for the tea from this organization. Threat of Suppliers –  Labour, Machinery, Transporters and Tea Plantations 2.Characteristic –  Private Sector Business  Control Characteristic and company was controlled Mr. Legal Form –  Private Limited company  Own by a Single Owner BM K 23 11 Business Environment Individual Assignment LO 1.2 Stakeholder Map High Owner Government Bank Supplier Customer Power Competitor Employees Neighbors Low Low Interest High Figure No.1 Stakeholders Map BM K 23 12 Business Environment Stakeholders Individual Assignment Objectives Owner Owner should have good relationship with the stakeholders.His expectations are future profit potential of investments, current financial performance and the stability and the strengths of the capital structure. Supplier Instant payment, satisfaction, development purchasing. Government Fulfill legal requirements and make way to produce best quality Bank To Provide loans and get interest Customer Get high quality tea with an affordable cost Competitor How the company produce and marketing techniques used Employees To fair return to their work Neighbors Use factory without polluting or disturbing Table No.1 Objectives of Stakeholders BM K 23 13 Business Environment Stakeholders Individual Assignment Why they are dealing Owner To make sure all managerial activities are carried out in a correct way Government To make sure that they follow all legal requirement which will not harm the consumers Bank To Provide loans and get interest and make good financial status to the organization Supplier Build the satisfaction and make good relationship with them to attain good supplies. Shitsuke – Discipline 5’C’ is meant by 5 Pillars of an organization.Threat of Buyers –  Nature of Product, Initial Buyers and Final Buyers 3.Threat of Substitute –  Biggest threat to package industry is loose tea industry and Beverages 4.Customer To get valued product for the money Competitor To overtake and improve their business Employees Process of producing high quality tea Neighbors To have a eco-friendly environment Table No.2 Importance of Dealing with Stakeholders BM K 23 14 Business Environment Individual Assignment Needs of Employees Ancoombra Tea Factory provides these important factors to the employees  Respect  Trust  Open Communication  Clear Communication  Appreciation  Chance to make own decision  Opportunities to grow  Free Health checkup once in a month  Promotion  Motivation  Transfer BM K 23 15 Business Environment Individual Assignment Customer Expectations and Satisfaction Ancoombra tea factory was started in 1946 and till it growing and growing. This Award proves that Physical Environment in Ancoombra is tidy and very well organized.Their green leaf processing capacity exceeds 52,000kg per day and it shows customers were satisfied if they are not satisfied they can’t be in this field for more than 66 years. Ancoombra tea factory finds out it and produce high quality tea by plucking fresh tea from their fields and also manufacturing process carried out in the same company.Entry and Exit Barriers –  Barriers for tea factories, plantation, distributors and packages and consumers 5.Degree of Rivalry  There are varieties of tea available in market and almost all the same in quality wise so if another company reduces the price consumer will switch it to other substitute because switching cost is low. P health certification for maintaining the most hygienic standards of tea production.

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