A business organization when formed it has to adapt some proper decision regarding its future establishment and the overall prosperity or sustainability. So it is very important to measure many economic, cultural, political variables under which the development of a business organization depends. So the environment for a business organization is a very important issue. Before forming an organization the entrepreneur have to justify the environment whether it is business friendly environment. Whether there is any risk matters regarding the financial market or institution or the current economy is healthy. Risk may arise now and then so the entrepreneurs have to alert of it.
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The purpose of different types of organization:
Richard Koch (1997) defines there are only some basic concepts about organization. It is thought before that organization is a group of people who used to share the same purpose like a company organization, a university, or a fund. And with the comprehensive lesson, it is learnt that though there are a lot of organizations who are involved in business activities, they can be classified under three main classes, they are private sector, public sector, and third-sector organizations.it is described the mission, vision and goalpolicy of a company as being defined the primary purpose of the firm, what business it should be, whom the company is going to serve and satisfy for the rest of the time. So the, the organization activities should evolvefrom the mission and goal statement. So many companies, in order to make sure the employee remember about their roles and duties perused to them, they have mission and goal statements on future activities.Moreover, Vision builds up on the goals and objectives, that is, what the organizations ultimate aims or the destiny to grow in the future. The vision statement as a long-term aimof how the organization that is to be shaped in the futuredevelopment and what it could become more profitable. Moreover, he clearly distinguished the mission that is the company’s role and future objectives; the vision, that is, what the company could turn into the future sustainability.
The extent to which the organization meets the objectives if different stakeholders:
What actually is a stakeholder? That is a wide range of discussion, it can be defined that a stakeholderas “a person, group, organization, who affects or can be affected by an organization’s actions or course of actions.”For performing good project management activities, anyone needs to both manage and meet stakeholder expectations and demands. As a result of the assessment should match their wants and demand for what will be provided at the end of the assessment. Why would an organization look at it to use software to assist them with that? Definitely project management software cannot meet the stakeholder objectives and their service, but it is important tool that is in the Project Manager’s area to facilitate meeting the demand and objectives. (Prasanna Chandra, 2010).
Responsibility of an organization and strategies:
An organization communicates with stakeholders such as employees, customers, government, suppliers’ local communities, different ethnic groups’ intermediaries, financiers.
Stakeholders have wide expectations to the company that they require the organization to fulfill, them. Employees expectation to the organization is to pay their salaries and bonuses on due time while the government expects the firm to pay its taxes as soon as possible. Diana Wicks (n. d) demonstrates that the management should also justify other positive and negative external and internal factors such as legislation policies and economic situations that have a direct impact on a firm’s survival.Business ethics loyalty and good governance form a part and parcel of social responsibility and liability. Business morality concerns the ethical judgments and behavior of persons and groups within company. Stakeholders expect organizations will be responsible for their actions and clarify in their transactions, in addition to respecting the society’s norms and customs. The organization should also to ensure that it maintains those activities that contribute to the organization’s success while contemporarily contributing positively to the welfare of society and country.
How economic systems attempt to allocate resources effectively:
An economic system is resulted from individuals (consumers and producers, suppliers), groups (firms, trade unions, political parties, etc. and the government interactsas a legal and social entity for the economy. The function of an economic system is based on to resolve the basic economic problem that is demonstrated – scarcity means the limitation of resources but our wants are infinite so there is an imbalance. There is three questions arise:
- What has to be produced?
- How it has to be produced?
- For whom it has to be produced?
There are two economic systems which are frequently used by world-wide. There are called: the free market system in which the government plays a limited role but that is a vital role and the system which is planned where the government takes fully total control on the circulation. In both of these systems there are different elements of resource allocation that is used by the government. There are economies that use a combination of these two processes in particular the planned and free market process also known as the mixed economy system in which many of the decisions about the resource allocation are taken by the government and other by the rest of the government or public.(Festina, 2005).
Impact of the fiscal and monetary policies:
It talks about current and future strategies of company. The selection first selects the competitors by their assets sales focus of business or geographic reach. In this case all the competitors are profit oriented or making profits. All financial and marketing strategies are discussed in this section.
Comparative financial analysis: this section compares the financial standing of competitors with this company. Financial performance of each segments are discussed here. The objectives of these sections are to evaluate the position of ours and our competitors. Stock price comparison helps to understand the financial performance of others.
International trade: buying and selling the goods across the borders is known as international trade. International is considered as backbone of a country in new commercial world. The companies are trying to expand the market beyond the borders to make a better profit rather than limiting it in local borders. There are more few reasons for doing business across the borders. One of the vital components of international trade is lower cost in developing nations. Clearly, a company that can pay its workers the equivalent of dollars a day, as compared to dollars an hour, has a distinct selling advantage.so the company has more potential to expand its business though it has the vast business throughout the world. It is also the .vital point of sustaining the market of the business. (Ukessays, n, d)
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How market structures determine pricing and output decisions in business:
The pricing is fully dependent on the competition on the market. According to a research on Transcom global Inc. (2013).In order to interpret the price-output decisions of entity and industry, it started with the description of several market structures under perfect competition, perfect competition, and simplemonopoly, the discriminating started on the monopoly, monopolistic competition, and duopoly. Oligopoly, monopoly and bilateral monopoly the degree and character of competition in these markets which are categorized by the number of transistors the nature of product or elements the freedom of movement of firms and buyers and the suppliers, kind of available market information that is useful etc. The economists’ given theory of entity and industry considered as profit maximizing method, and accordingly suggests the marginal principle used as the optimum decision rule, erratic of differences between the markets. It is considered help of this principle that equilibrium price and expected output are determined at the firm’s optimum. At the market optimum level, the price costs and expected output are determined by the exchange of supply and demand. Following linear relations, a perfect competitive market model can be constituted. The operation of free market methods and mechanism as well as imperfections in the market used to be, regulated and operated by governmental influence such as taxes, subsides, minimum wage policy, price controls etc. The theoretical-demography and explanations in terms of such subjugate adjustments and interference does not always provide an idea 0 of there or no complexity of real international markets. For example, oligopolistic firms normally tend to maximize on sale’ by following [MR=O] principle considered as the main one. The complex price-output decisions that are made under the competition .not always be terminated in terms of economic theory and practices.
The market forces shape organizational responses:
Although there is a variety of market forces exists which may need to be addressed by any organization, there are three common factors that affect businesses in today’s world: customer participation, information availability, information demand and cost pressure. These three are the important issues. According to Richard y. Chang (2005)Today, in many organizations who are keen to collect the payments for the purchase of products or services that is provided from the business but when it comes to returning those products or refunding those services, they call it a challenge to find a refund-sometimes requiring acute submissions of paperwork loading on them, long delays to receive a check from the customer by mail or confining the return/refund from the period to a short time framework that is useful to them.. How do these steps and policies can affect the prospect or influence of getting repeat business from these customers as soon as possible? Clearly, taking the lead decision onto ensure that the organization is completely prepared to search the key market vital forces impacting on the organizational performance made today and in the future will make strong Making the position as a strategic business leader in the business world it will lead the business.
Business and cultural environment shape the behavior of the organization:
Next to efficient structures and processes necessary to the organization, it is must to focus also on what people think normally, but to feel and do in and into the organizations so soon as possible. Keith (2011) and Newstrom (2012) illustrated that Managers should care in that way how the behavior of organizational employees evolves and adapts the rules, how employee behavior is completely shaped by group dynamics and social interaction possible way of change. Numerous results have influenced on managers when making a decision for the company regarding several issues. In theÂ backgroundof any history one of the most significant change one is the procedures how employees used to behave and act in acompany. The organizational culture is absolute term for description the set of beliefs, norms, customs and values that represents fully the characteristics of an organization, and provides the extent for behavior within it individually.
Optimal operation can be affected by an organizational culture which is shaped, leadership and management style that mirror environmental and cultural changes in the organization, as well as employee motivation useful for the better production. In such a culture innovations requires new employee behaviors customized the new research that is indispensible and different in order for the innovation to take root level of the company. It is a term used for analyzing scrutinizing the complex organization structure, with the emphasis which revolves around the improvement of shared assumptions made by it.A meaning, beliefs and values derived from the core, which shape and are reformed by employees’ behavior at working placeTo maximize organizational performance which is fully dependent on the higher satisfaction that requires an organizational culture which inspires employees to learn doing it together, grow and give their very best to the company.
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