Question:
1. Describe these following terms-
a. Different Types of Organizations
b. Organization that Meet Objectives of Stakeholders
c. Responsibilities of Organization
2. Describe these following terms-
a. Economic System
b. (i) Two Main forms of Economic Organization
(ii) Fiscal Policy in Bank of England
c. UK Competition Act 1988
3. Describe these following terms-
a. MEMO
b. Market Forces
c. Cultural Factor
4. Describe these following terms-
a. International Trade
b. International Factor
c. European Union Policy
A. Different Types of Organizations
Organization is a criterion of division of functions and work within a company can distinguish the following types of organization (Diefenbach, 2011):
1. Functional organization. The company’s activities are divided into function in specific directions / specialized divisions. Each direction focuses exclusively on business issues that fall within their area of competence (e.g. marketing department, administration department, etc.). For example, the company’s marketing activities are handled by the marketing department, the accounting and administrative management of the administrative and financial, etc.
2. Divisional organization. The business activities are divided into product or market specific divisions within which work is organized in a functional way. Each direction integrates itself a functional organization (accounting, marketing, research, etc.) Distinct from the others.
3. Matrix organization. It is a hybrid organization that integrates both the functional division that the divisional. The company functions are divided into specific functional directions as in the case of the functional organization. In place of the divisions they are appointed project managers with the task of coordinating and follow every aspect of the product / service expertise. In the matrix structure project manager coordinates every aspect of a product, a market or a sector business of the company.
The project manager interacts with the functional divisions for everything related to their project. A difference in the organization of the organization divisional matrix does not show duplication of functional offices for each product / service. All types of business organizations are based on a ‘hierarchical organization that is on the respect of the principle of hierarchy under which corporate objectives and responsibilities are divided from the top (top management) to bottom (divisions / departments). Each business objective is broken down into sub-objectives and assigned to units of ‘ company based on the criterion of specialization and division of labor. As you go down the hierarchical ladder you go from work coordination (director, painting, etc.) To the operational work (employee, worker, etc.). Each business unit is responsible for the achievement of the objective or not assigned to the hierarchical superior (Diefenbach, 2011).
Organization Factors
B. Organization that Meet Objectives of Stakeholders
Division Organization meet all the objectives of stakeholders, in the divisional structure, however, the company is “segmented” internally according to a size of the business, for example, for line of product / service or by the market. Each division, typically, has within it a functional
structure, therefore some functions can be duplicated from one division to another, and can be centrally maintained some functions “not specific” such as administration and information systems. The main advantage of these structures is the ability to generate a form of internal competition between comparable units, which facilitates performance especially in contexts where the business presents strong elements of diversification. In this case, moreover, the efficiency of a functional structure would be put at risk by a complexity too high. In divisional structure, the organization works with structural divisions created based on criteria essentially attributable to products, markets and geographic countries (Diefenbach, 2011).
The divisional structure for markets operates according to different markets, we finally the divisional structure by geographic area (for example: Europe, North America, etc.). A divisional organizational structure provides the possibility of separating business sectors too broad, especially for companies of a certain size. These groups or divisions are largely self-managed and focused on a limited aspect relating to products or services or to individual markets and countries. Unlike a functional structure, organized by departments, the divisional structure makes the individual more autonomous divisions, each with inside the manager with decision-making power that allows, often in complete autonomy to manage their own recruitment, budget, advertising, etc. The divisional structure meet all the objective of the stakeholders in of the organization (Diefenbach, 2011). Division Organization illustrates the following,
i. The possibility for a single team to focus on a single product or service or a single line of products and services
ii. There is an internal structure that supports the main strategic objectives and decision-making power.
iii. The attention of a division can build a common culture and an esprit de corps that helps to lift the morale of those who work there.
Organization Structure
C. Responsibilities of Organization
According to the Decree. N. 231/2001, the company is responsible for offenses committed in its interest or to its advantage:
i. By “persons in positions of representation , of administration or management of the entity or one of its organizational units with financial and functional autonomy as well as persons who exercise, even de facto, managing and controlling the company.
ii. By individuals who are managed or supervised by an individual in a top position (individuals under the so-called).
iii. Increase the culture of responsibility among businesses, citizens and the local communities;
iv. Supporting businesses that adopt CSR;
v. Contribute to the strengthening of market incentives for CSR;
vi. Promote initiatives of social enterprises and third sector organizations, active citizenship and civil society;
vii. Promote transparency and disclosure of economic, financial, social and environmental;
viii. Promote CSR through the tools recognized internationally and international cooperation.
If the conditions for the application of a disqualification that interrupts the business of the court , in applying the sanctions, has the continuation of the business of part of a commissioner for a period equal to the duration of the disqualification that would be applied, if at least one of the following conditions:
i. The entity carries out a public service or a service of public necessity the interruption of which may cause serious injury to collectivity;
ii. The interruption of the entity may cause, taking into account its size and economic conditions of the area where it is located, a major impact on employment.
Task 2
A. Economic System
An economic system can be defined as the way political, social and economic by which a society be organized. Encompasses the type of ownership, management of the economy, the circulation processes of goods, consumption and levels of technological development and division of labor. In accordance with its definition, the basic elements of an economic system are (Dunning, 2014):
i. The productive resources stocks or production factors, which are human resources (labor and entrepreneurship), capital, land, nature reserves and the technology.
ii. The complex production units, which comprise the company.
iii. The set of political, legal, economic and social, which form the basis of social organization.
Economic system is the way society is organized, seeking to solve their problems of production, circulation and distribution of wealth. Regardless of the form of organization of society (Dunning, 2014).
B.(i) Two Main forms of Economic Organization
There are two main forms of economic organization:
i. Market economy (or decentralized capitalist type)
ii. Planned economy (or centralized, socialist type).
The countries are organized on these two forms, or have some intermediate system between them. These differences or similarities in the overall functioning of the economy are explained by economists, who use the concept of economic system. Below, we detail these systems (Dunning, 2014).The economic system is the structure of production, allocation of funds, distribution and consumption of goods and services in an economy. A system of economic problems such as the shortage by allocating limited resources and products. The idea of an economic system carries with it the connotation of harmonized functionally articulated to achieve collective goals certain parts.
During the joint parts, each society tries to solve the fundamental economic problem is the satisfaction of basic needs. In fact, the economic system does not present homogeneously, in order to observe contrasting shapes on the same social totality. Thus, in the most advanced capitalist persist craft forms of pre-capitalist production. Also in the socialist countries co-exist state ownership, cooperative ownership and the small and medium private rural property. Some scholars defend the thesis that, historically, the current economic system (capitalism and socialism) walked for an approach towards industrialized societies and bureaucratically managed centrally (Dunning, 2014).
(ii) Fiscal Policy in Bank of England
According to Governor Carney unlike the United States and Britain the euro zone countries are sinking deeper into the debt trap, because of a poor financial integration that makes it a little stronger EU fiscal policy. If the euro zone does not loosen the strict austerity policies on budgets and not making rapid progress towards fiscal union can transfer resources from rich countries to poor ones, the debt trap it ended could undermine progress made in these years. Governor of the Bank of England, in a speech at a conference in Dublin reported by British newspaper that they are launching a strong attack against austerity promoted in the countries of the euro zone if the Eurozone were a single country, fiscal policy would be much more effective (Dunning, 2014).
Unfortunately instead Europe is not yet equipped with effective mechanisms to share risk and is relatively inflexible. Failure to complete the process of integration and restrictive fiscal policies are likely to plunge further into the debt trap of the 18 Member States holding the single currency. Since there was the financial crisis all major advanced economies have fallen into a debt trap, where low growth weigh down the debt burden, inducing the private sector to further cut spending, that when the economic weakness continues over time and is likely to damage the chances of recovery of these economies because of the capital and skills atrophy. The workers get discouraged and drop out of the workforce.
Despite the difficulties, some countries, including the US and UK, are abandoning the liquidity trap. Other countries in the euro area are rather sinking in it. In order for monetary union to succeed is required at least a degree of financial risk-sharing among members. Therefore, the answer is to build institutions of risk sharing i.e. carry out all integration and financial arrangements for the definition of a common tax system (Dunning, 2014).
Fiscal and Monetary Policy
C. UK Competition Act 1988
UK Competition Act of Business 1988, is a competition law along with the Enterprise Act 2002. It is basically the framework to identify the restricted business in market. The target of this act was to harmonize UK and EU policy of competition. Chapter 1 and 2 reflect the complete structure of the framework.
Chapter 1
It deals with restricted practices that are being engaged by the operator of the company in UK for restriction and to avoid the competition. There are horizontal agreements that are between the level of supply chain likewise consumer and supplier. These agreements is limited to output, collusively share information, tender, fix prices collectively. Exclusions from restriction are accessible if the firm can exhibit that these practices are in light of a legitimate concern for the customer through expanding business sector efficiencies or propelling specialized advancement.
Chapter 2
It manages the misuse of a predominant position by a firm who uses practices, for example, savage estimating, over the top costs, refusal to supply, vertical limitations and value segregation to amplify benefit, increase upper hand or generally confine rivalry. In exploring affirmed ruptures of section II a two-stage procedure is included. Firstly it must be distinguished if the firm really has an overwhelming business sector position. This should be possible through different focus files, for example, the Herfindahl- Hirchman Index (HHI). By and large if a firm is found to have a piece of the overall industry in abundance of 40% then it is viewed as a danger to rivalry. There are no exclusions to part II as by it’s extremely definition as “misuse” of a business sector position, one must be blameworthy of wrongdoing for the part to apply (Polak, 2013).
Task 3
A. MEMO
To XYZ
From ABC
Dated DD/MM/YYYY
Market research is primarily concerned the study and analysis of the behavior expressed and decision making processes (motivation) of consumers in a market economy, or the definition of the structure of a market. They are a source of information for those who, within a ‘ company that produces goods or services, must take marketing decisions. Marketing research can be defined as studies to select all the relevant information used for decisions regarding the products, distribution, and effectiveness of advertising and promotional techniques and the evaluation of the overall position of the company (Polak, 2013).
Market research aimed at a narrower scope of analysis, being rigidly connected to the identification of market information of a particular good. They are exploratory and are used to assess specific aspects of the market. The price analysis is primarily concerned – as part of the marketing research – the cognitive process that gives value to the product or service offered. In particular, this value can be expressed in absolute terms (considering, for example, if a price is perceived as expensive or cheap) or in relative terms (more or less expensive than competitors). In particular, highly developed is the research on the reactions of buying behavior in the face of price changes, known as price sensitivity (Polak, 2013).
B. Market Forces
Macroeconomics
Macroeconomics is the study of economic activity as the majority of the country’s total output, employment, finance and banking. Development International Trade Interest rate all that is wider than microeconomics. The economy in the majority of countries of the region to the global study on the overall productivity of the country. Or income, employment levels, consumer spending habits of households, imports, exports, trade balance and so on.Macroeconomics is a look at the economic aspect of the big picture. The whole country is looking. This person is responsible for ensuring this is the government.
The government macroeconomic policy is aimed at two.
i. The main variables in the macroeconomic level.
ii. The economic environment is in a stable condition stable.
There are many economic variables. It can be classified into the following four topics.
i. Economic growth (Economic Growth) high and sustained demand.
ii. Unemployment (Unemployment) require less.
iii. Inflation (Inflation) need at least stable. It will help businesses make decisions more easily.
iv. Balance (Balance of Payment) try not deficits.
Technological evolution
The process of technological evolution culminates with the ability to reach all the material values technologically possible and desirable by the mind of man. An economic implication of this idea is that the intellectual work will become more important than the physical work. The contracts and agreements relating to information will become increasingly common in the market economy.
The emergence and spread of new types of institutions that have to do with the information, (e.g. universities, libraries, patent trade, etc.), Are a sign that a society is in a phase of technological evolution. Interestingly, all this highlights the importance of the debate on intellectual property within the decentralized distribution systems, as is the case today with the Internet, where the price of distribution of the information is going to zero, thanks to the invention tools more effective for the distribution of information, and with increasing amounts of information that are distributed to customers growing over time.
Globalization
Globalization is a process of interdependence economic, social, cultural, political and technological whose positive and negative effects have a global relevance, tending to even out the trade, culture, customs and thinking. Globalization is an economic process for which markets, production, consumption, and also ways of living and thinking become connected on a worldwide scale, thanks to a continuous flow of exchanges that makes them interdependent and tends to unify them. It is the result of a process that lasts a long time and over the last three decades has had a strong acceleration in conjunction with the third industrial revolution. The term “globalization” (new mintage), has been used by economists to refer mainly to the economic aspects of the relationship between people and companies multinationals.
Market Forces Graph
C. Cultural Factor
Management
The management is, strictly speaking, the set of actions to be taken to the ‘ company can pursue their aims in business planning and making choices concerning the relations between its constituents (people and technology). Management in this respect is therefore not synonymous with management, although in ordinary language the two concepts tend to overlap; on the other hand there is no doubt that management is one of the most important aspects of management.
Intrapreneurship
Business undertaking is the demonstration of acting like a business person while working inside of an extensive association. Enterprise endeavor is known as the act of a corporate administration style that incorporates danger taking and development approaches, and in addition the prize and motivational systems, that are all the more generally considered similar to the territory of business.
Task 4
A. International Trade
To develop the local economy, the public revenue. The well-being it is inevitable that countries will have to have contact with foreign economic transactions in various fields. Whether a trade or foreign investment because the market is considered to be an important source of income to the country. Therefore, UK is required to economic transactions to improve the domestic economy is growing. This transaction is an important economic aspects of international trade, which is vital to the economic development between countries in the following areas.
i. It is a critical tool in creating economic growth for developing countries, especially in regard to exports, the economy has expanded, and with greater domestic demand are producing goods for export to the sale. More international and contributes to employment.
ii. Resources are used wisely and efficiently, that is. With the use of domestic resources to produce their own right and can export to foreign countries by reducing the amount of goods that they do not feel down. The use of domestic resources fully and more effectively.
iii. Make the domestic market is expanding due to increased domestic production, because trade between the two markets, the market is the domestic market and international market, which is good for the local people in the cause of employment. And contributes to rising national income.
iv. The development of knowledge. Skills and technologies that have improved the development of domestic production. The need to use modern technology to use in their work. Which contributes to public knowledge. The ability to learn and developments in the use of tools to provide quality products to export to foreign competition.
v. International Trade has made international capital flows from developed countries to developing countries. Especially in terms of international investment, that is. Enterprises must consider the location of establishment to close export markets to reduce production costs.
B. International Factor
Economic factors that Effect on ‘EUR / USD
Exchanging of the coupling the EUR/USD can frequently include seeing the distinctive adaptations of business news and different news that influence the change. The fundamental monetary discharges have tremendous impact on the heading of the conversion scale and are always observed by administrators to get signs about the bearing of coinage. Notwithstanding financing costs and vocation, other monetary discharges impact the rate EUR/USD.
i. Gross Domestic Product – The annual change in value of all goods and services produced in an economy.
ii. Trade Balance – The difference in value between imports and exports in an economy, a premium indicates a greater number of exports while the deficit indicates a greater number of imports.
iii. Retail, Consumer Price Index and the Producer Price – All these indicators measure the inflation pressure in the economy and affect monetary policy and interest rates of the central bank of a country.
iv. Sentimental indicators – Polls sentimental as the German ZEW Economic Sentiment and the University of Michigan Consumer Sentiment Indicator (Indicator of Consumer Sentiments University of Michigan) give traders indications on the overall perception of the strength of an economy and can significantly influence the market.
v. Factors critical to the analysis EURO / DOLLAR also include international news. For example, the riots in Greece or a lowering of the US debt can have a significant effect on the exchange rate of the currency.
UK GDP Rate
C. European Union Policy
Subsidizing of union strategy has conveyed advantages to a great many EU nationals, not just through the formation of occupations and the advancement of conditions helpful for development, additionally through venture for the modernization of framework, natural changes, business backing and instruction, preparing and enhancing the abilities of individuals. Examine the effect and aftereffects of attachment arrangement is of essential significance to guarantee its proceeding with achievement. With the end goal of straightforwardness and responsibility, it is vital that natives recognize what is accomplished with ventures of this arrangement. In this manner, additionally, you can gain from best practices from somewhere else and ceaselessly enhance projects and activities.
The impact on business
Support to business development: 230,000 SMEs received financial support (mainly grants but also loans and venture capital) and further 1.1 million have received advice and support for networking, they created approximately 1 000 000 EU jobs.
Impact on the economy
Income increasing rapidly in the poorest regions: Gross Domestic Product (GDP) per capita in the less developed regions of the EU (the so-called Objective 1 regions) increased from 66% of the EU25 average in 2000 to 71% in 2006.
Impact on the environment
Environmental improvements: cohesion policy has contributed significantly to ensuring that the regions comply with EU environmental standards. For example, 20 million more people are now served by modern water supply systems, while 23 million others have systems for wastewater treatment.
Impact on transport infrastructure
Modernization of transport links: Cohesion Policy has funded almost 4,700 km of motorway and 1,200 km of high-speed rail network. This means that 77% of the highways built in weights beneficiaries of cohesion policy, and nearly 56% of high-speed rail network has received co-financing of cohesion policy.
References
Diefenbach, T., & Sillince, J. A. (2011). Formal and informal hierarchy in different types of organization. Organization Studies, 32(11), 1515-1537. https://oss.sagepub.com/content/32/11/1515.short
Dunning, J. H. (2014). Economic analysis and multinational enterprise. Routledge. https://books.google.com.pk/books?hl=en&lr=&id=ux1IAwAAQBAJ&oi=fnd&pg=PP1 &dq=economic+system+uk&ots=qz6JtkhA_X&sig=SZmB6_umcKg3WtEurrAqjHEFlF E#v=onepage&q&f=false
Johnson, H. G. (2013). International Trade and Economic Growth (Collected Works of Harry Johnson): Studies in Pure Theory. Routledge. https://books.google.com.pk/books?hl=en&lr=&id=QTIAxxd54VsC&oi=fnd&pg=PP1& dq=international+trade&ots=8LP-CwEayM&sig=RHwGWRPDKF0u1vBSKbSiQl_o0LQ#v=onepage&q=international%2 0trade&f=false
McGovern, E. (2015). International trade regulation (Vol. 2). Globefield Press. https://books.google.com.pk/books?hl=en&lr=&id=3O8Oci9mZq4C&oi=fnd&pg=PP1& dq=international+trade&ots=OdOPn6-0tx&sig=XweeHy4RqWk46hbx2xbmU5G4x-I#v=onepage&q=international%20trade&f=false
Polak, J. J. (2013). An international economic system (Vol. 7). Routledge. https://books.google.com/books?hl=en&lr=&id=2SdFAQAAQBAJ&oi=fnd&pg=PP1&d q=economic+system+uk&ots=osWXBopxNf&sig=ADWlCoZwi9Q8YQknfogPnGjRAh k#v=onepage&q=economic%20system%20uk&f=false
Richardson, J., & Mazey, S. (Eds.). (2015). European Union: power and policy-making.
Routledge.
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