BUSINESS ENVIRONMENT (1).doc

8/20/2019 BUSINESS ENVIRONMENT (1).doc

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Assignment front sheet

Qualication Unit number and title

Pearson BTEC Level 5 H! !i"lomain Business

U#T $% BUE&& E'#()*ET

&tudent name Assessor name

!ate issued Com"letion date &ubmitted on

Assignmenttitle &tud+ of Business Environment and the factors associated ,ith it-

Learning)utcome

Learning outcome AssessmentCriteria

#n this assessment +ou ,ill have theo""ortunit+ to "resent evidence that sho,s+ou are able to%

Tas.no-

Evidence/Page no0

L)$

L)$ Understandtheorganisational"ur"oses of businesses

$-$ identif+ the "ur"oses of di1erent

t+"es of organisation

$-2 describe the e3tent to ,hich an organisation meets the ob4ectives of di1erent sta.eholders

$- e3"lain the res"onsibilities of an organisation and strategito meet them

L)2

L)2 Understandthe nature of thenational

environment in,hich businesseso"erate

2-$ e3"lain ho, economic s+stems attem"t to allocate resourc

2-2 assess the im"act of scal andmonetar+ "olic+ on businessorganisations and their activities

2- evaluate the im"act of com"etition"olic+ and other regulator+mechanisms on the activities of aselected organi6ation

L)

L) Understandthe behaviour of organisations intheir mar.etenvironment

-$ e3"lain ho, mar.et structuresdetermine the "ricing and out"utdecisions of businesses

-2 illustrate the ,a+ in ,hich mar.etforces sha"e organisational res"onsesusing a range of e3am"les

- 4udge ho, the business and culturalenvironments sha"e the behaviour of aselected organi6ation

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L)7

L)7 Be able toassess thesignicance of theglobalfactors that sha"enationalbusiness activities

7-$ !iscuss the signicance of international trade to U8 businessorganisations

7-2 Anal+6e the im"act of global factors onU8 business organisations

7- Evaluate the im"act of "olicies of the

Euro"ean Union on U8 businessorganisations-

Learner declaration

# certif+ that the ,or. submitted for this assignment is m+ o,n and research sources arefull+ ac.no,ledged-

&tudent signature% !ate%

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#n addition to the above PA&& criteria9 this assignment gives +ou the o""ortunit+ to submit evidence in order to achieve the follo,ing *E(#T and!#&T#CT#) grades

:rade !escri"tor #ndicative characteristic;s Conte3tualisation

*$

#dentif+ and a""l+ strategies to nda""ro"riate solutions • E1ective 4udgements have been

made• Com"le3 "roblems ,ith more than

one variable have been e3"lored• An e1ective a""roach to stud+

and research has been a""lied-

• Effective judgements have been made in understanding

the organisational purpose of Armani and otherorganisations.

• Complex problems with more than one variable have

been addressed in identifying the organisationalpurpose(s) of businesses.

• An effective approach to study and research has been

• Applied in understanding the organisational purposes of

business.

*2

&elect ; design and a""l+ a""ro"riatemethods ; techni


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been used-

!$

Use critical re=ection to evaluate o,n ,or.and 4ustif+ valid conclusions

• Conclusions have been arrived atthrough s+nthesis of ideas andhave been 4ustied

• (ealistic im"rovements have

• Conclusions have been arrived at through synthesis of

ideas and have been justified by using different butappropriate examples.

• !he validity of results has been evaluated using defined

criteria.

• #elf$Criticism of approach has ta%en place during the

evaluation.

• Realistic &mprovements have been proposed against

defined characteristics for success

!2

Ta.e res"onsibilit+ for managing andorganising activities

• Autonom+;inde"endence has beendemonstrated

• &ubstantial activities9 "ro4ects orinvestigations have been "lanned9managed and organised

• Autonomy"independence has been demonstrated.

• &ubstantial activities9 "ro4ects or investigationshave been "lanned9 managed and organised-

• Activities have been managed-• The unforeseen has been accommodated-

• The im"ortance of interde"endence has beenrecognised and achieved-

!

!emonstrate convergent ;lateral ; creativethin.ing

•

&elf>evaluation has ta.en "lace• Problems have been solved• E1ective thin.ing has ta.en "lace in

unfamiliar conte3ts-

• &deas have been generated and decisions ta%en

understanding the organisational purposes of businesses.

•

#elf$evaluation has ta%en place.• Convergent and lateral thin%ing have been applied.

• 'roblems have been solved

• &nnovation and creative thought have been applied.

• Receptiveness to new ideas is evident.

• Effective thin%ing has ta%en place in unfamiliar contexts.

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Assignment brief

Unit number and title U#T $% BUE&& E'#()*ET

Qualication Pearson BTEC Level 5 H! !i"loma in Business

&tart date

!eadline;Hand>in date

Assessor

Assignment title&tud+ of Business Environment and the factors associated

,ith it-

Pur"ose of this assignment

The purpose of this unit is Aim The aim of this unit is to "rovide learners ,ith an understanding of di1erent organisations9 the

in=uence of sta.eholders and the relationshi" bet,een businesses and the local9 national andglobalenvironments-Summary of Learning Outcomes

To achieve "ass learners must demonstrate the abilit+ to deliver su?cient evidence to meetthe criteriafor assessment and subseo,ned com"anies in its sector9 ,ith a "roven businessstrateg+ that has ca"italised on the ,orld,ide "o,er and "otential of the Armani brand name-A child in *ussolinis #tal+9 :iorgio Armani gre, u" to be a fashion revolutionar+- He liberatedmen and ,omen from the strait4ac.et of traditional tailoring and introduced them to the"leasures of casual chic- et he is himself a "erfectionist ,ho ,ields com"lete control over,hat has become a ,orld,ide brand-:iorgio Armani &-"-A- ,as founded in *ilan on Iul+ 27th9 $D5 and later that +ear9 the rst:iorgio Armani Borgonuovo 2$ read+>to>,ear collection ,as "resented- After a successful rst+ear the Com"an+ began to broaden its "ortfolio of clients and e3"anded its Euro"ean

"resence- $DJ mar.ed an im"ortant turning "oint in the com"an+s histor+ ,hen itestablished a licensing agreement ,ith :T /:ru""o inan6iario Tessile > Te3tile inance:rou"0- :T ,as the ,orlds largest manufacturer of designer clothing9 com"eting at thehighest end of the fashion businessK its success is rooted in its histor+9 cutting edge

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technologies9 ,ell>organised labour9 :T single>handedl+ revolutioni6ed the ,a+ artisticclothing ,as conceived9 manufactured9 mar.eted9 and distributed- #ts heart ,as on the "ulseof social trends and needs9 .ee"ing it ,a+ ahead of its com"etitors- This licensing agreementresulted in :iorgio Armani &-"-A- obtaining the o""ortunit+ to invest in a ne, head


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(esorts LLC for the develo"ment of an e3clusive collection of Armani Hotels and (esorts- )nthe o"erational side AVW Armani E3change "urchased a ,eb>based Product Lifec+cle*anagement and Production Trac.ing s+stem9 e>&P&9 to streamline and integrate "roductdevelo"ment and global sourcing- This "rovided real>time visibilit+ into merchandising9 designand "roduction activities from "roduct conce"t to deliver+9 streamlining its entire su""l+>chain"rocess-#n 2FFG9 the Armani :rou" announces his su""ort of the /Product0 (E!9 the "ioneering globalbusiness initiative launched b+ Bono and Bobb+ &hriver for The :lobal und in the ght

against A#!& in Africa- #n su""ort of (E!9 Armani is designing an Em"orio Armani /Product0(E! ca"sule collection9 including clothing9 accessories9 e+e,ear9 ,atches9 4e,eller+ andfragrances-

The ,orlds rst Armani (esidences o"ened in the Bur4 !ubai in 2FF and the rst grou" of a"artments sold out in a fe, hours-9 Armanis fourth conce"t store after *ilan9 Hong 8ong and*unich9 ,as o"ened in To.+os Armani;:in6a To,erK the store covers G9FFF send electronic and consumer "roducts9 including the launch of a:iorgio Armani mobile "hone9 the Armani;&amsung Television and the Em"orio Armani&amsung mobile9 Oight E1ect O-

The hotels o"ened in earl+ 2F$F and Armani remar.ed X#Mve been ,or.ing on this for ve+ears- #Mm nall+ going to see ,hat # designed9 and itMs a bit nerve>rac.ing to thin. that ,hat #li.ed ve +ears ago might loo. old no,- R#n ever>changing9 constantl+ evolving !ubai9 ve+ears is a long time some of !ubaiMs most iconic buildings9 such as the Bur4 Al Arab andEmirates To,ers are onl+ $F +ears old-)ut of all these celebrit+>endorsed "ro4ects9 :iorgio Armani is "robabl+ the rst to ma.e it"ast the "ost- XAs a man used to launching ne, fashion collections ever+ season9 he ma+indeed ,orr+ that his ,or. no, loo.s a little dated9 but his neutral tones and sim"leminimalist st+le alien to the regionMs more9 ho, to sa+ it9 colourfulR tastes ,ill o1er a"leasant alternative to travellersM /,,,-telegra"h-co-u. A"ril 2F$F0rom initial sales of Y$79FFF in its rst +ear9 $D59 the com"an+ gre, to sales of Y$FFm onl+ adecade later- Toda+ it has an annual turnover of close to Y2bn-!id he reall+ ,ant all thisZ He did not "redict it9 he sa+s- Ohen ,e started it ,as 4ust one line9men and ,omenK it ,as slo,9 ,e had time- #t ,as much less aggressive 2F +ears ago9 more

balanced-O But the entire fashion business has changed- ashion is no longer the e3clusiveresort of the rich and ,hereas once9 aside from clothes9 it e3tended onl+ to e"hemera >handbags9 "ens9 an+thing ,ith a relativel+ short life9 it has gro,n to embrace ever+ as"ect of lifest+le- Ever+thing is susce"tible to fashion no,-RA,areness:iorgio Armani ,as one of the rst designers to e3"loit the mar.eting "o,er of media stars-He began a long relationshi" ,ith Holl+,ood ,hen he designed (ichard :eres ,ardrobe forthe $DJF lm American :igolo- A string of other movie credits ,ould accumulate throughoutthe ne3t t,o decades9 including Batman /$DJD0 and Pul" iction /Em"orio Armani0 and9a""ro"riatel+9 (ead+ to ear /both $DD70- Armani s"onsored or "rovided ,ardrobes for themusical tours of several "o" musicians9 including Paul &imon9 Bill+ Ioel9 !avid Bo,ie9 and EricCla"ton-Armani continues full advantage of the celebrit+ culture using Lad+ :aga9 (onaldo and othersto model his "roducts as ,ell as sho,ing his collections on a variet+ of social media such asaceboo. and T,itter ArmaniMs virtual store in &econd Life has been o"en since 2FF9 ashiondesigner :iorgio Armani has o"ened u" sho" in &econd Life9 ,ith a store modelled on his

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=agshi" location in *ilan9 his com"an+ said on ednesda+- The silver>haired Armani ,ill sendhis avatar to celebrate the o"ening of the virtual store9 and he ,ill be intervie,ed in thevirtual ,orld b+ fashion eb site &t+le-comMs fashion director Cand+ Pratts Price -----inall+9 #can reall+ be in t,o "laces at once9R said the ever>bus+ designer said- &econd Life residents,ill be able to bu+ virtual Armani items ,ith Linden dollars or connect directl+ to his recentl+>launched online store for non>virtual vestments- /,,,-reuters-com0:iorgio Armani &t+le and Life*r Armanis "hiloso"h+ of fashion and st+le9 together ,ith his entre"reneurial abilit+9 has been

central to the success of :iorgio Armani &-"-A- He oversees both the com"an+s strategicdirection and all as"ects of design and creativit+- After thirt+ +ears of running his o,n label9 heno, "resides over a stable of collections9 including his signature :iorgio Armani line9 :iorgioArmani PrivS9 Armani Colle6ioni9 Em"orio Armani9 AI V Armani Ieans9 A;W Armani E3change9Armani Teen9 Armani Iunior9 Armani Bab+9 and Armani Casa home interiors9 o1ering a choiceof lifest+les to the mar.et"lace- Toda+9 the com"an+s "roduct range includes ,omens andmens clothing9 shoes and bags9 ,atches9 e+e,ear9 4e,eller+9 fragrances and cosmetics9 andhome furnishings-Peo"le in the business are constantl+ "redicting his demise9 but it does not ha""en- He hasthe re"utation of being something of a "otentate- He is also said to be a hard tas.master >someone ,ho ,ill not tolerate im"erfections but is eu" to the lighting design and goes round9,ith his nervous fastidiousness9 reassuring the models9 correcting their ,al.9 touching them9"atting their chee.s-He has been "ushed b+ the fashion conglomerates > in "articular9 he sa+s9 b+ Bernard Arnault9the chief e3ecutive of Louis 'uitton *oet Henness+ /L'*H0 and :ucci- OThe big internationalstr+ to have ever+thing- The+ bu+ ever+thing- Before *r Arnault it ,as


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Armani is a rarit+ from a nancial "ers"ective too- :iorgio Armani has been the onl+shareholder of the com"an+ from its ince"tion has not ta.en an+ ban. loans--- #t has been oneof those rare com"anies ,hich has managed to have ver+ health+ o"erating "rots and"loughed bac. almost FF million Euros into the business since $DDD- Having this nancialinde"endence has hel"ed Armani immensel+ as the com"an+ tested ne,er territories- ith no"ressures from shareholders and ,ithout having to bother about meeting "orter9 even though #tal+ isnot favoured b+ signicant resources of ra, materials or the cost of labour force-5F +ears ago9 #tal+ had virtuall+ no fashion industr+K no #talian designer en4o+ed aninternational re"utation- The countr+Ms ,ealth+ commissioned their e3clusive hand>madeclothes from tin+ s"ecialist tailors in (ome9 but most #talians found their dressma.ingre


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changed ever+thing and "rovided o""ortunities- There ,ere three signicant develo"ments atthis time- After the &econd orld ar9 an investment "lan9 the *arshall Plan9 ,asim"lemented to rebuild Euro"e and to create a stronger economic foundation9 ne, factories,ere built in #tal+ ,hich em"lo+ed s.illed crafts"eo"le ,ho came from the small hill to,ns of the north and the vanishing villages of the south and ,ho needed to nd ,or.- Thecombination of the ver+ latest machiner+ ,ith an e3ce"tionall+ s.illed ,or.force created anun"aralleled garment manufacturing ca"abilit+- The designers no longer follo,ed the renchlead b+ co"+ing their st+le but created a fashion identit+ that seemed distinctivel+ #talian- This

beneted greatl+ from the huge trend to ac


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Identify their interests in and how they influence Armani. How do they impact Armani?

1.3 Using the Stakeholder Analysis matri! plot where! in your opinion! each stakeholder mightstand "ased on your research and analysis. #ake sure your analysis is "ased on e$idence andresearch and do %&' guess or make wild assumptions.

(plain Armani responsi"ilities to its stakeholders and identify the strategies it adapts to meetingtheir needs and epectations.

Tas. 22-$ hat s"ecic benets and constraints that Armani might face o"erating in adi1erent economic s+stem /i-e- in free and command economic s+stems0Z Loo. ats"ecic "olitical9 economic and social as"ects such as government interference9"o"ulation9 labour force9 mar.et gro,th9 e3change rates9 trading "artners9 consumertastes and "references Armani etc-

2-2Using the conce"t of Aggregate *one+ !emand /A*! ] C^#^:^W>*0 or other,ise9e3"lain ,ith reasons9 ,hat might ha""en to business activit+ in general and to Armanis"ecicall+9 if the follo,ing ha""ened%

i- A general fall in the level of income ta3Zii- A rise in the value of the "oundZiii- A fall in interest ratesZiv- A large increase in unem"lo+mentZv- A large increase in the level of :overnment e3"enditureZ

2- !iscuss ho, government>related regulations including com"etition "olic+ im"actu"on Armani-

Tas.

-$E3"lain ho, mar.et structures determine the "ricing and out"ut decisions of thegrou"--2#llustrate the ,a+ in ,hich mar.et forces sha"e organisational using a range of e3am"les from Armani-

-Iudge ho, business and cultural environments sha"e the behaviour of Armani-

Tas. 77-$ !iscuss the im"ortance of international trade9 and globalisation to Armani- Use theactivities of Armani to su""ort +our ans,er-

7-2 Consider in ,hat ,a+s the role of orld Trade )rganisation /T)09 emerging

mar.ets /B(#C countries Bra6il9 (ussia9 #ndia and China0 and "rotectionist tendenciesof national governments ma+ im"act Armani in the ne3t $F +ears or so-

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7- Anal+se the benets and constraints of "olicies of the Euro"ean Union on Armani-

>>>End of assignment>

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*aterials for reading and consulting%

(esources%

TextbooksBPP _ )rganisations9 Com"etition and Environment /BPP Publishing92FF0#&B% F5$$27GDBre,ster ! _ Business Economics /#nternational Thom"son Business P9

$DDJ0#&B% $JG$52725F!a,es B _ #nternational Business% A Euro"ean Pers"ective /elson

Thornes Publishers9 $DD50#&B% F7J$JGF5!ic.en P _ :lobal &hift Transforming the orld Econom+ /Paul Cha"manPublishing9 $DDJ0#&B% $J5DGG7!unnett A _ The *acroeconomic Environment /Prentice Hall9 $DD0#&B% F5J2F5J$F:ri?ths A and all & _ A""lied Economics /inancial Times PrenticeHall9 2FF$0#&B% F5J2F25FGHill B _ The Euro"ean Union /Heinemann9 $DDJ0 #&B% F752$7Hornb+ _ Business Economics /inancial Times Prentice Hall9 2FF$0

#&B% F2G7GFGHurl B _ Privatisation and the Public &ector /Heinemann9 $DD50 #&B%F75F22Li"se+ ( _ Princi"les of Economics /)3ford Universit+ Press9 $DDD0 #&B%F$DJ5JJ$Par.in * _ Euro"ean Economics /Pearson Education9 2FF20 #&B%F2F$5DGFJ&amuelson P _ Economics /*c:ra, Hill9 2FF$0 #&B% FF$$JFG7J&loman I _ Economics /inancial Times Prentice Hall9 2FF20 #&B%F2G5577 Journals/Newspapers The inancial Times /London0 ,,,-ft-com eBusiness ,,,-ebusiness-u.-com The Times /London0 ,,,-thetimes-co-u. The Economist ,,,-theeconomist-com

Websites BBC ne,s ,,,-bbc-co-u. eb site to assist ,ith student studies ,,,-tutor2u-net A ,ebsite for business studies students ,,,-bi6ed-co-u.; Com"an+ Annual (e"orts online ,,,-carol-co-u. Cor"orate information and Com"an+ (e"orts,,,-cor"orateinformation-com

ord CountLearners must state the e3act number of ,ords the+ have used on the assignment submissionform and com"l+ ,ith the ,ord count of 95FF ,ith a margin of ^;> $F- Ho,ever9 "lease notethat the calculations9 tables9 bibliogra"h+ and a""endices are e3cluded from ,ord counts-

Plagiarism and collusionAn+ act of "lagiarism and collusion ,ill be seriousl+ dealt ,ith according to the Ede3cel"lagiarism "olic+- Basicall+9 "lagiarism occurs ,hen e3cer"ts9 ideas9 "assages ta.en from othersources are not "ro"erl+ ac.no,ledged and referenced both in the bod+ of the te3t and in

reference- #t is the learnerMs res"onsibilit+ to ensure that the+ understand all Ede3cel guidelines,ith regards to "lagiarism and ,hat Ede3cel considers to be an academic o1ence-Collusion can be understood as the submission of ,or.s "roduced in collaboration for anassignment based on the assessment of individual ,or.- #t is a severe academic o1ence to share

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a learnerMs ,or. ,ith others ,ho submit a "art or the ,hole of it as their o,n ,or.- The Collegehas mechanisms in "lace to detect "lagiarism and collusion-Learners must sign the declaration on the front of the assignment submission form-

&ubmission :uidance and Policies for Ede3cel &tudents This is an individual assignment- All "arts of the assignment are reordinar+ circumstancesK the College should be made a,are of

this in ,riting-

• The college "reserves the right not to acce"t or mar. the assignment in case +ou failed to

inform it in time-

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BUSINESS ENVIRONMENT (1).doc