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UNIT 1 - The Business Environment - Control Assessment 2
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UNIT 1 - The Business Environment - Control Assessment 2
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Focussing on a large UK organisation, you are required to describe the influence of two contrasting economic environments on business activities. Youshould highlight the challenges the organisation may face whilst in contrasting economic environments.
Please state your chosen organisation:
1. Define, in your own words, the economic environment.
The economic environment are the factors, that can affect on how good the organisation is doing. The factor that can affect the economic
environment are the external factors and these could be large or minor factors that are called macro factors and the micro factors. An example, of
the macro factors is the income, tax rate ..., however an example of the micro factor is demand, competition. These could affect the whole
economy or they can affect the decision making.
2. Explain the importance of stability.
The stability is extremely important for the economy, most for the organisations and the businesses, the government. Stable means when the
economy is making a steady profit as a whole economy of the country, there is a fair and constant amount of profit that the country is making, and
less outcome. The stability is important for the economy because there will be a balance of payment for the nation country, there will be more
incoming then the outcome and this enable for the people to be employed and the government can collect more taxes. The money that is available
in the country should be enough to pay all the expenses. Moreover, the stability is important for the businesses because there would be a constant
growth in profit. If the economy is stable then the government, and the businesses are going to be able to plan and they can make accurate
predictions, this means there will be an accurate predictions, this means there will be and accurate forecast for the future of the organisations and
nation. The stable economy makes sure that there will be a constant output growth and the price and inflation are going to be stable and the
inflation rate is 2.0%, this means more demand. The businesses would like to be in this position because there are going to be more job
opportunities and there is going to be more confidence in expanding and investing, the stable prices will make sure a better plan. In UK the price
stability is to make sure that they are increasing in price constantly. The UK’s target of the inflation is of 2% and no more then this.
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