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Business Environment - Assignment Example

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They include but are not limited to shareholders, customers, government, employees, creditors and suppliers (Daphne, 2015, p.2). Each of these…
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Download file to see previous pages To meet their objectives and sustain the shareholders, a business may raise the dividend amount so as to offer satisfactory returns to this category of stakeholders. However, shareholders should not always expect huge returns; there is always an extent beyond a company may not go, depending on the economical status and market forces (Daphne, 2015, p.3).
The objective of the government as one of the stakeholders is to ensure the operations of a business are ethically carried out and that taxation policies are adhered to. To meet this objective, an organisation must ensure that a business license is obtained before commencing its operations. It must observe regular and timely tax payment. However, higher taxation may lead to a downfall of business (Daphne, 2015, p.5). Government must, therefore, consider market structure and make its taxation as flexible as possible.
The objectives of customers are sometimes very challenging to meet due to their compounded nature. Customers have put higher expectations on the product price, quality, quantity, taste, branding, taste and other related aspects of a product. A business owes customers all these duties. Depending on the level of competition and product differentiation, an organisation may not meet the exact needs of customers; one quality will always be missing. The very quality may be found in another product from a different organisation.
Market structures are several interconnected factors that bind the seller, the buyers and the products. Normally, the type of market faced by a business firm will determine its decision on pricing and level of output. It should be noted that a business is never free to set the prices of its products; the pricing is always dependant of the preexisting forces in the market. It, thus, implies that the limit of profit is always a subject of the market structures (Ciliberto, 2009, p.180). The flexibility of a ...Download file to see next pagesRead More
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