Unit 38 - Business and the Economic Environment D1
258 views 2 purchases
Course
Unit 38 - Business and the Economic Environment
Institution
PEARSON (PEARSON)
Book
BTEC Level 3 National Business Student Book 2
Unit 38 - Business and the Economic Environment D1
D1 Evaluate the impact of changes in the economic environment on a selected business
Case Study: Jaguar Land Rover
BTEC Level 3 Extended Diploma in Business
Please REVIEW it If it was USEFUL for YOU. Thanks!
d1 evaluate the impact of changes in the economic environment on a selected business
Connected book
Book Title:
Author(s):
Edition:
ISBN:
Edition:
More summaries for
THERAPEUTIC CRISIS INTERVENTION EXAM STUDY GUIDE (TCI- 7TH EDITION) EXAM WITH NGN QUESTIONS AND COMPLETE 100%CORRECT ANSWERS WITH VERIFIED AND WELL EXPLAINED RATIONALES ALREADY GRADED A+ BY EXPERTS ...
STOTT PILATES WRITTEN EXAM 2024 WITH NGN QUESTIONS AND COMPLETE 100%CORRECT ANSWERS WITH VERIFIED AND WELL EXPLAINED RATIONALES ALREADY GRADED A+ BY EXPERTS |LATEST VERSION 2024 WITH GUARANTEED SUCCES...
NC BLET 2021 RESPONDING TO VICTIMS EXAM WITH ACTUAL QUESTIONS AND COMPLETE 100% CORRECT ANSWERS WITH VERIFIED AND WELL EXPLAINED RATIONALES ALREADY GRADED A+ BY EXPERTS | LATEST VERSION 2024 WIT...
All for this textbook (163)
Written for
BTEC
PEARSON (PEARSON)
Business 2010 QCF
Unit 38 - Business and the Economic Environment
All documents for this subject (28)
Seller
Follow
Abdulalahaljobore
Reviews received
Content preview
Abdulalah Al-Jobore
Unit 38 - Business and the economic environment
D1
D1 Evaluate the impact of changes in the economic environment on a selected business
Huge automotive company such as Jaguar Land Rover will be impacted by many different factors and
changes in the economic environment that usually controlled by the government and the market
within the United Kingdom. Many different elements and factors such as the political, social and the
economics of the country as well as the global economy could have significant effects on the
company. However, many elements and factors of these could affect Jaguar Land Rover positively or
negatively. Although it is difficult to identify which one of these factors and elements could have the
largest impact that affecting the company, but the global economy is usually considered as one of
the greatest factor that could have a dramatic impact on the success of a company such as Jaguar
Land Rover. This is due to the fact that it is operating internationally not only the UK.
In general, political factors and government decision play a very important role in how business such
as Jaguar Land Rover operating their business. Since the fact that politics could add, change, adjust
or remove some of the laws, which could really influence Jaguar Land Rover as an overall. For
example, one of these factors that could be led by on the administration is that they may be very
environmental friendly and enact legislation that could dramatically changes the amount of
greenhouse gasses that cars produced by Jaguar Land Rover can emit (produce ad discharge the
gases). In addition, when the government and politics leaders produced new law on how the
administration deals with regulation that concerned about taxation, Jaguar Land Rover will have a
great impact on their profit as it might goes down. This is what happened in 2011 when the
government increases the rate of VAT from 17.5% to 20%, as a way of boost tax revenues to cut the
country deficit as improve the economic in the UK [1]. Therefore, the changes in VAT rates required
Jaguar Land Rover to increase its prices on their cars and vehicles as well as other products that they
are producing (such as clothes and car accessories). Although this change might be suitable and
affordable for some people, but for other it is not. This changes is not alone increase the prices of
Jaguar Land Rover products, but also other products such as the material and resources that
provider by other supplier which is used in manufacturing Jaguar Land Rover cars and vehicles which
therefore increase the company expenses. The reality of the economic environment is that when
prices change due to the taxation or any other factors and it becomes higher, consumers will not be
will to buy products as for example Jaguar Land rover will have a higher prices on their cars and
vehicles which might not be affordable for consumers to purchase. Therefore, this will affects the
overall profits growth of the company which might fall. Furthermore, the change in other types of
taxes such as income tax and national insurance could affects prices as whole, the prices of company
will increase or decrease depend on the individuals’ incomes which could impact the company
positively or negatively. This is because if the individuals get higher tax rates on income and national
insurance, then the will have less money left in their account which might not be able to afford to
buy certain products and vice versa if the taxes decrease.
Moreover, on the 23rd of June 2016 when the Brexit referendum took place in the United Kingdom
for leaving the leaving or remaining within the European Union, Jaguar Land Rover will be affected
so hard during this period of brexit. This is according The Guardian, where it stated that the chief
executive of Jaguar Land Rover who is one of the most ‘powerful chief executives has predicated’
that the key industries will be destroyed by a hard Brexit. As result of this Ralf Speth speech, the
boss of Jagura Land Rover, we can predict that this outcome would lead to have a country’s plants
and major job losses as some of the exposed industries would have ‘’now way to survive a hard
Brexit’’ [2].
1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Abdulalahaljobore. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.55. You're not tied to anything after your purchase.
