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Table of Contents
A.
INTRODUCTION.................................................................................................... 3
B.
CONTENT............................................................................................................. 4
I.
II.
UNDERSTAND THE NATURE OF THE NATIONAL ENVIORNMENT IN BUSINESS
OPERATE................................................................................................................. 6
2.1 Explain how economic systems attempt to allocate resources effectively..............................6
2.2. Assess the impact of fiscal and monetary policy as it relates to Camelot and their activities......7
2.3. Evaluate the impact of competition policy and other regulatory mechanisms in UK on the
activities of Camelot................................................................................................... 7
III.
UNDERSTAND THE BEHAVIOR OF ORGANISATIONS IN THEIR MARKET
ENVIORNMENT........................................................................................................ 9
3.1. Explain in context of Camelot how market structures determine the pricing and output decisions.
............................................................................................................................. 9
3.2. Illustrate the way in which market forces shape organisational responses using a range of
examples from the case study and independent research.......................................................9
3.3. Judge how the business and cultural environments shape the behaviour of Camelot.............10
IV.
BE ABLE TO ASSESS THE SIGNIFICANCE OF THE GLOBAL FACTORS THAT
SHAPE NATIONAL BUSINESS ACTIVITIES...............................................................12
4.1. Discuss the significance of international trade to UK business organisation.......................12
4.2 Analyze the impact of global factors on UK business organisations using Camelot to support
your analysis.......................................................................................................... 12
4.3 Evaluate the impact of policies of the European Union on Camelot..................................13
C.
CONCLUSION..................................................................................................... 15
D.REFERENCE........................................................................................................... 16
1. Book sources:....................................................................................................... 16
Internet sources:....................................................................................................... 16
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A.INTRODUCTION
Business environment is the combination of both internal and external forces that will help to
find out the new way to grow and prosper in other countries outside the national boundaries. It is
also help to judge the working environment of the organisation in the said economic and social
environment.
Part one will cover the organisational purpose of business operations. Firstly, I will explain the
vision, mission and objectives of the selected organisation. Then how the organization meets the
objectives of different stake holders. Further detail of responsibilities and strategies are given
that is employed by any organisation for gaining ultimate profit.
In the second part, the understanding the nature of national environment is given in which a
certain organisation is operating. For this economic resources are analysed and assess the impact
of fiscal and monetary policy on the business activities. Moreover, evaluation of competition
policy and other regulatory mechanisms are conducted.
In the third part understand the organisational behaviour in the market environment by the
judgement of business and cultural environment. Additionally market forces are illustrated that
shape the organisational responses. And finally the report is focused on how the global factors
are significant in shaping the business activities.
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B.CONTENT
I. UNDERSTAND THE ORGANISATIONAL PURPOSE OF BUSINESSES
1.1 Identify the purpose of Camelot as an organisation
The ultimate aim of any organisation is to serve the customers by meeting the objectives of
different stake holders. Thus to satisfy the needs of the customers by fulfilling the responsibilities
and strategies employed by the organisation. No doubt at the start of the organisation, it targeted
the survival. Later on it grows and succeeds to meet the shared vision and mission.
In any organisation, faith of the customers is the most valuable property. Camelot is serving the
people in increasing the fund and money for the very good cause and enjoyment. They are trying
to do their best in preceding the national lottery system as great as possible.
1.2 Describe the extent to which Camelot meets the objectives of different stakeholders.
Draw from the case study and further independent research.
For the organisation, customers, employees, suppliers, legal entities and government are the main
stakeholders that put the great influence in getting the market share and enhance the profitability
of the company. While there are three main broad categories of Camelot including internal
stakeholders, connected stakeholders, and external stakeholders.
Internal stakeholders contain employees and managers. Camelot must have to ensure the good
working environment that is comfortable, clean and relaxing, so that they are able to fully
concentrate on their work. This is very supportive for the career development of the employees
in terms of possible promotional prospects. Job security is one of the most important aspects for
the workers working in any organisation. In this regard, considerable salary and insurance is the
preliminary surety for job. Internal stakeholders are just like a family, if organisation gives the
feeling of home, they are dedicated and motivated for the continuous growth of the organisation.
Connected stakeholders are wholly and solely concern with their own interest associated with the
organisation. Retailers, bookmakers are the connected stakeholders of Camelot that hope to
establish a healthy, long lasting, friendly and fruitful relationship with the company which also
ensures the companys stability and growth.
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Macroeconomic level
Microeconomic level
Distribution of output
The only drawback of such economies is that no incentives are give=n to productivity and there
are less chances of investment.
Market Economy
In such type of economies, companies have the independent right and government has only very
little involvement. Thus companies produce what the market demands and as per the demand of
the customers. Thus customer oriented and market oriented products are coming in to the market.
In this regard resources are effectively utilized based on the demand factor. But in this economy
extensive competition has to face due to the drawback of monopoly created by one favoured
company. Government is normally interfere in regulating the price and quality control in terms of
production as well as consumption processes. Similarly, subsidy and taxation, prohibition and
provision all are under the control of government.
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III.
3.1. Explain in context of Camelot how market structures determine the pricing and output
decisions.
There are different kinds of markets performing its functions in different economies. And based
on those markets, different kinds of output and pricing decisions are taken place. Usually pricing
and output decisions are totally different and interdependent as well except for the case of
perfectly competitive markets.
In perfectly competitive market, a firm operating in it is so small as compared to the whole
market that it cannot affect the prices. In this case, it takes the prices as it is mentioned and on
that price selective quantity is supplied. Price in that market is equal to the marginal cost of the
production.
In monopolist market, things are very different. It can change the prices as it wants because it is
the only one entity which sets the prices and provides the goods. So it acts as the market power
for the provision of the goods so as charge their own choice prices. In this case if the prices
increase, the quantity demand decreases. Thus monopolist must have to consider both positive
and negative effects that may become the cause for the increase in prices.
In oligopoly, pricing is a bit complicated as compare to other market structures, and it will totally
set after the interactions between the firms at the strategic level. Same is the decision taken for
the quantity demanded.
3.2. Illustrate the way in which market forces shape organisational responses using a range
of examples from the case study and independent research.
Market forces actually determine the demand and supply and their inter relationship. In the long
term basis there are four major forces that set the trend and allow the traders and investors to
capture profits. These major forces are government interactions, international transactions,
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Pattern
Location
Recruitment policies
Technological: these are ways through which products can be made, sold and services can be
provided to the targeted customers. These are the ways through which markets can be identified,
firms can be managed and try to extend the means of communication and promotional services.
Environmental: the existing and physical environment is very important to run the real time
business. It is also necessary to find out the right form of resources to get the required results.
Legal: these are laws and regulations that will support the company to run its operations.
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IV.
4.2 Analyze the impact of global factors on UK business organisations using Camelot to
support your analysis
Undoubtedly, service industry is heavily under the influence of global economic developments.
In order to analyze the impact of global factors the approach remains the same that is PESTEL
analysis.
Political: for the development and implementation of the plan it is necessary that government
should be stable and efficiently perform its role in the economic reforms and international
relationship building. Though there a risk involved in this case but certain measure could be
taken to minimize the risk:
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Economic: some of the common economic facts that can affect the demand and supply forces
are as follow:
How the economic activities are taken place in the overseas market?
How much is the economic growth in the newly industrialized countries?
What is the rate of interest, exchange rate and rate of inflation in the other countries?
Social: In the UK, a large numbesed cost in r of aged people is in the population. Thus the firms
have the pressure to commit the pension payments for such employees.
Technological: in this modernised world, companies have to consider certain technological
factors like:
Environmental: it is the utmost duty of the organisation to cater the legislative measures in
terms of environment protection.
Legal: In the recent years, UK has changed its policies in terms of legal constraints. It has
widely affected the firms behaviour. Like the introduction of age discrimination and disability
legislations have increased the level of minimum wage rate.
4.3 Evaluate the impact of policies of the European Union on Camelot
EU comprises of 15 member states and has the two main sources for the formulation and
implementation of law. One is the primary source that based on treaty provisions and other is the
secondary source in which legislations and interpretations are made. In order to join the union,
some of the economic and political conditions have to be fulfilled such that:
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Must be a stable country and respect the human rights, rule of law and protection of
minorities.
Economy is based on functioning market economy
Must support the common rules services that are, standard and policies formulated by
EU law.
Those products are approved in any of the EU country and as per the set regulations can
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C.CONCLUSION
In conclusion, this report has successfully demonstrated the understanding of the organisational
purposes and its main aim for formulation and working. Moreover, it clears the concept of
working environment and nature of environment in which a firm is operating.
In the first part, the main targeted area is to identify the main purpose of organisation and to
identify the nature of the environment in which it is working. In the second part, it is explained
that different types of organisations are working and have different responsibilities for
stakeholders as well as strategy employed. All this is studied for the optimal allocation of
resources. Moreover, influence of fiscal and monetary policy and competition policy is explained
in perspective of selected organisation. Third part is based on the understanding of the behaviour
of the organisation in the given market environment. And the last part includes assessment of the
significance of the global factors that help to shape national business activities.
Thus it is very effective report in giving the information about business environment and
economic conditions. Moreover, it is useful in understanding the impact of policies while
running the business in the UK environment.
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D.REFERENCE
1. Book sources:
Internet sources:
Advisory
report
on
Camelot
activities,
[online].
Available
from:
http://www.bitc.org.uk/our-resources/case-studies/advisory-case-study-strategy
development-camelot
Camelot annual report, [online]. Available from: http://www.natlotcomm.gov.uk/assets-
uploaded/documents/annual-report-20102011_1311934839.pdf
Corporate
Planning
Report,
[online].
Available
from:
http://www.natlotcomm.gov.uk/assets
uploaded/documents/CorporatePlanvfinwithcover.pdf
Organizational
Response,
[online].
http://www.richardchangassociates.com/pdfs/CO1205_takingtheLead.pdf
Purpose
of
organization,
[online].
Available
http://www.angelfire.com/musicals/kalpana/Goal.htm
Relationship between market forces and organizational response, [online]. Available
Available
from:
from:
from: http://www.blurtit.com/q609511.html
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