Nobody downloaded yet

Business - Final Simulation - Essay Example

Comments (0) Cite this document
Final Simulation Introduction It is vital to comprehend the environment at which businesses operate in order to run a business unit successfully. Since environmental factors have an impact on each aspects of the business, therefore it becomes necessary for the companies to comprehend the numerous components of the business environment such as political environment, economical environment, social environment, technological environment and legal environment (National Institute of Open Schooling, n.d.)…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.4% of users find it useful
Business - Final Simulation
Read TextPreview

Extract of sample "Business - Final Simulation"

Download file to see previous pages Business Environmental Factors and Business Theory The political factors comprise of the regulations made by the government as well as that of the legal issues. It also states both the formal as well as informal rules and regulations under which the firms need to work. It is the economic factors that have an impact upon the purchasing power of the customers along with the cost of capital of the firm. Social factors tend to impact the needs and the wants of the customers and the size of the potential markets as well. It is the technological factors that minimize barriers to entry and helps to improve the quality of the product. Environmental factors comprise of the weather as well as climate change. Legal factors are associated to the legal environment in which a firm functions (Oxford University Press, 2007). Political turbulence in Libya and Egypt along with unstable environment in the Middle East, have an impact on the price of the oil. Along with this, the President of the USA has developed National Commission on the areas of oil spill in Gulf of Mexico which depicts the intervention of politicians in the business. Tax rates also have an impact on the successful operations of the firm. ...
Due to the environmental damages done by the oil spill in the Gulf of Mexico, the brand image of BP has been cracked which may lead to consumers’ reluctance to purchase the product of BP. The consuming patterns of the people in the energy sector are completely changing which is a matter of concern for the long-term sustainability of the company. BP makes use of advanced technologies in order to sustain innovation and to maintain the competitive position in the marketplace. The company is striving to invest and to ensure in low carbon emission from their activities and in the manufacturing of efficient energies. The legal factors also have an impact on BP. When oil spills took place in the Gulf of Mexico, it was noted that new legislations were introduced forcing the company to be more responsible for health along with safety rules. One of the environmental factors impacting the successful operations of BP has been the oil spill disaster that led to negative environmental consequences such as high carbon emissions. The company is targeting use of low-carbon energy as part of its Corporate Social Responsibility (CSR) activities (Pour, 2011). Dependence and Limitation of One Environment on the Other From the above analysis, it is evident that the impact of one business environmental factor tends to have an impact on the other. For instance, in order to avoid any legal and political barriers taking place due to adverse effects of the oil spill in the Gulf of Mexico, the company conducted clean-up activities of the oil that came ashore. By doing so, it could prevent the sea from getting polluted (BP Plc, 2011). One environment tends to hinder the other and tends to affect the company’s ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Business - Final Simulation Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Business - Final Simulation Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from
(Business - Final Simulation Essay Example | Topics and Well Written Essays - 1000 Words)
Business - Final Simulation Essay Example | Topics and Well Written Essays - 1000 Words.
“Business - Final Simulation Essay Example | Topics and Well Written Essays - 1000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Business - Final Simulation

Business simulation

...? Currently, Computer Sales of Birmingham, UK offers limited products for sale, such as personal desktop computers and accessories. The business currently offers desktop models only, of two different brands. Being located near Birmingham City University, University of Birmingham and Aston University, most of the Customers Computer Sales currently serves are college students, though occasionally University professors and faculty use the services as well. The few business customers that have utilised the computer sales shop include nearby retailers, such as an antiques shop, a pub and a small cafe. Computer Sales would like to expand its product offering, to include laptops, notebooks and customization...
6 Pages(1500 words)Assignment

Business Regulation Simulation

...Running Head Business Regulation Simulation Business Regulation Simulation Company Overview Alumina Inc. is a US-based company specializing aluminum railing and special aluminum fabrication. Alumina belongs to one of the profitable industries in the world proposing global consumers a wide range of aluminum products. Quality and new technology are the primary driving factors for the company and its growth. Alumina tries to deliver customer satisfaction at a lower cost, smaller size, and higher speed. Alumina follows differentiation strategy which helps the company to attract and keep a customer. "Alumina offers standard picket, glass systems, column, stairs privacy panels...
7 Pages(1750 words)Essay

Business Simulation in Motor Industry

...Business Strategy Target Market The automobile market is segmented into age groups and car sizes. Figure shows the percentage share of market segments in the total market according to car sizes and age groups. The pie graphs illustrates that the highest number of buyers are in the age group 25 to 40 who buys medium size cars. The second highest number of buyers is in the age group Under 25 who buys City size cars. As an entrant to the motor industry, the company will exploit the opportunities presented in both Medium and City size market segments. Figure . Market share according to age groups and car sizes Car Design and Options The company offers two models of cars to be launched in the first year. The first model caters... ...
4 Pages(1000 words)Research Paper


...Business Simulation Modelling Table of Contents Table of Contents 2 Problem Formulation 3 Data Collection and assumptions 4 Validity of Document 6 Model construction and programming 6 Validity of Programmed model 7 Designing and analyzing experiment 8 Simulation Result 9 References 10 Problem Formulation The term simulation means to imitate (Baudrillard, 1994, p.112). Simulation in general term involves development of a model of real phenomenon (Bhattacharya, 2009, p.116), then making experiments on the evolved model. In simulation, a provided system is copied and manipulation is made with the associated variables and constants to analyze...
4 Pages(1000 words)Essay

Toyota Final Simulation Bus310

...of technological driving simulators also sends a message that when organizations have the best methods to merge their internal, near external and the extreme external environments, then they have a chance of satisfying all their customers no matter the geographic or demographic divisions. Finally, all the three organizational environments have challenges whose solutions can only come from the same environments with proper strategizing. References Hamilton, L., & Webster, P. (2012). The international business environment. Oxford: Oxford University Press. Kew, J., & Stredwick, J. (2005). Business environment: Managing in a strategic context. London: Chartered Inst. of...
3 Pages(750 words)Essay

Global tech change simulation final paper

...Number] Change Plan Efficacy: Evaluation against Kotter’s Change Process What is your Team Assessment of your Team Effectiveness in planning for, implementing, and reporting on your change simulation? In terms of the Team Assessment for Team Effectiveness for execution of the change management simulation, it can be safely said that most objectives were met successfully while there was some room for improvement in certain areas. The change management plan deployed at Global Tech was devised along innovative lines to cater for the peculiar circumstances at the organization. The change management plan at Global Tech, when compared to overarching theoretical frameworks such as Kotter’s change process will...
2 Pages(500 words)Essay

Business Simulation Game (Individual Report)

...Individual Report on Business Simulation Game Company Claude Footwear Number: Lecturer: BUSINESS SIMULATION GAME Introduction Claude Footwear Company has been in existence for fifteen years now. Its business exploits have been somewhat good in the industry standards. Compared to its industry peers, our company has been performing very well in some areas but doing poorly in others, hence the decision a few years ago before my team joined the company. We were tasked with implementing a new strategic plan put in place by its board of directors on behalf of the shareholders who were demanding better performance results. My management team has been overseeing...
14 Pages(3500 words)Essay

Managing Strategy--Business Simulation Game

...Managing Strategy--Business Simulation Game Introduction The advancement of technology is recognized to be a significant aspect for the modern society. It is also stated that the globalization in world business industry has been largely initiated with the help of technological innovation. One of the most appropriate examples of innovation of technology through globalization is the establishment of e-commerce. The implementation of e-commerce has eliminated the traditional way of trading process in a widespread manner (Bryce & Rutter, 2001). It has been observed that in the contemporary era, people prefer the digital gaming concept more than the traditional gaming concept. Currently the concept of computer gaming are grabbing... . The...
14 Pages(3500 words)Book Report/Review

Business simulation

...Business Simulation Assignment 1b: Improving the Effectiveness of a Team It is important to have an effective team so as to achieve the goals and objectives of a company or business venture. After the merging of the teams, there are various techniques that can be used to improve the effectiveness of the newly merged supply chain team as indicated below. The first thing to do as a manager is to understand all the members in the new team, how they are and how they were used to functioning in their previous separate teams. Newly merged teams tend to take quite some time before they can be free with each other, or before they can trust one another in their duties (Woodcock & Francis, 2008)....
7 Pages(1750 words)Essay

Business simulation

...Business Simulation Distributions The method for stimulating timing variations and divergent numbers in whichever process that involves machines, anything or people is provided for by statistical distributions. In a Simul8, there are several statistical distributions and this section introduces the distributions outlining their characteristic purposes. In existence are two major types of distributions, which are continuous and discrete distributions. When a sampling of a continuous distribution is executed, the outcome is a non-integer value, while sampling a discrete distribution yields an integer. Flipping a coin and rolling a dice give possible outcomes of a finite set. A discrete distribution is...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Business - Final Simulation for FREE!

Contact Us