Assessing The Business Objectives In Firms

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Business objectives are suitable for an organisation to achieve their goals to maintain their business. The business objectives need to be finish in time to order to achive their goals.

The goals that in every company they are doing. A business planner creates business plans to achieves their goals.Planner create rules to achieve business specific objectives.business statement' to set out the purpose for the organization.

Tate & Lyle is committed to providing profit to their shareholders. Tate & Lyle's strategy is to build a stronger value added business.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 2

Tate & Lyle's objectives are business interest, customer satisfaction, cutting carbon emension, profit to shareholders and reducing waste of raw matrail etc.

Tate & Lyle's headquartered is in the UK and company is currently operating more than 45 production facilities in the Americas, Europe and South East Asia. Tate &Lyle is meeting their objectives by. Food and industrial units, Food & Industrial Ingredients units and Sugars.

Task one

Question:

b). what do you consider to be stakeholder's main objectives? Do you think these objectives are met by Tate and Lyle's activities?

Answer:

Stakeholder's main objectives:

Stakeholder's main objectives are business, profitably, accessable, Financial good Performance, in business. Stakeholder main objectives are the best way of setting managing project scope in any business.

Stakeholders main objectives highlighted in the way of maintain stakeholder profit and keep their interest focused and on track. Stakeholder's identifying their cost and profit.

Tate & Lyle is achiving their goals by their business prcoess annual report we analyze that Tate & Lyle is meeting all these objectives,

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 3

Tate & Lyle has adjusted profit before tax down 2% at £247 million. They have operating profit from core value added food ingredients £107 million by Tate & Lyle's

Management control the capital on expenditure. Tate & Lyle has earning after-tax amount and they distributed to their shareholders generally in a cash payment. Tate & Lyle currently pays dividends twice a year for the six months to September, and next pays in August.

Question:

c). what responsibilities does an organization have towards its stakeholders? Do Tate and Lyle carry these out?

Answer:

Organization has a direct behaviour impact on its stakeholders namely suppliers, customers, work colleagues, and consumers of its goods and services. It has impacts on repeuit of organizations.

Therefore it is important for an organization to recognize its responsibilities to its stakeholders, suppliers, customers, and staff and address the way of impacts on physical environment. Their understanding on the waysof their activities affect the local community.

Tate and Lyle aim is to focus these four responsibilities to achieve their strategic vision and reward their stakeholders, shareholders and to apply these responsibilities to achieving the highest standards of safety, and a responsible approach to the environment and continuously improving their relationships with employees, suppliers and stakeholders. Tate & Lyle commitment to this is demonstrated through active management, and its mention high level administrational staff.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 4

Task two

Question:

Examine the impact of social welfare and industrial policy initiatives on UK business and the public sector.

Answer:

Impact of social welfare on Business:

Social impact or social welfare behavior are having impact on UK business, on Neighbors, Employing and on local communities as well. It is a good approach to recruiting and developing staff form local people and business can be into the community and improve business reputation. Purchasing from local suppliers can also impact and give similar benefits.

To become more sustainable business should consider the social impact of the products and service. These may face growing customer resistance or regulation if they have made polices against social impact. Businesses also consider the effects through the supply chain. The suppliers if they use, and the deals they negotiate with them, have a knock-on effect on their communities both in the UK and overseas.

For example, by supporting a local charity or giving staff time off to work on local initiatives.This can deliver business benefits as well as helping the community.

For example, you might choose to import only from suppliers who are blonging near to your business ares.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 5

Impact of industrial policy on business.

Industrial polices also very huge impact on business and public sector as well. Because industries are impacting locally and if something happened with business then people welfare is also affecting.

In UK's Parliament they passed Bill and this bill is set against a background of economic difficulty with the UK currently in a recession, with falling employment and falling output in the manufacturing sector in particular. GDP fell by 1.5% in the fourth quarter of 2008, the Government has announced further support packages for business since the start of 2009. On 14 January the Enterprise Finance Guarantee Scheme, the Working Capital Guarantee Scheme and the Capital for Enterprise Fund were announced. Assistance for the automotive industry, hit by a rapid decline in new car sales, was announced on 27 January.

"The Government has come under pressure to introduce further measures to support industry and manufacturing.In terms of particular companies, it has been reported that GM Europe are seeking state aid from the UK and Germany."

(The Industry and Exports Bill was introduced on 4 March 2009)

Task two

Question:

What has been the impact of global economic change and government macro-economic policy on business and society ?(use the scenario in your illustration)

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 6

Answer:

Impact of global economic:

The impact of global economic changes has a significant impact on the strategy of business. No matter business is operating during a weak, strong, or recessionary economy. The more important to understand that business environment during a recession; which is a time when buyer power is stronger than ever. Small business are not effect the current global economic credit crunch, but most large and mid-size business owners did not seeing these conditions. The strategic business plans that were written in a different economic climate are not working in this time of recessionary economy period.

Business strategies need to be quickly developed applicable. And in recession providing efforts are focused on recession marketing strategy planning.

Government macro-economic policy

Government macro-economic policy, this is a branch of economics, economic activity at the higher level. Microeconomics focuses more on the behaviour of individual units in the economy.

Investment

Investnment in business is the medium to buy goods for business. It is part of liquidity. coins, paper money and certain checking accounts that can be readily exchanged.

Monetary policy

Monetary policy is one part of macroeconomics. Monetary policy deals with actions taken by the Government, the money supply or both. The goal of monetary policy is to control the economy to reduce the money supply will theoretically lower inflation. On the other hand, if it is desired to raise interest rates the money supply can be increased by a sale of bonds which will also lower bond prices

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 7

Task two

Question:

What kind of economic system exists in UK? Do you think the government allocates and makes efficient use of resources?

Answer:

Market Economies

UK economy is market economy, is also called mixed economy. All decisions made by investor or made by market. Supermarkets have monopoly to control economy. Main thing are prices and customer offerdability is telling about price.

However, some time government is also participating or mention product price to control thing in public benefit. Like school, construction, Hospital road on behalf of society decisions about military spending, and public education.

Task two

Question:

When looking at investment, products and services, training and location does the government fit into this system? (use the scenario in your answer)

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 8

Answer:

When looking at investment and services, training and location there we must look for government as well because overall we will be think about all externally factors which are involving with specific business. Originally as a business environmental analysis the PEST or PESTLE analysis is an analysis of the external macro environment in which a business operates.

It is important to clearly identify that PESTLE analysis is the type of multi faceted in relation to a particular business unit or proposition - if you dilute the focus you will produce an unclear picture - so be clear about the situation and perspective that you use PESTLE to analyze.

A market is defined by what is addressing it, be it a product, company, organization, brand, business unit, proposition, idea, etc, so be clear about how you define the market being analyzed, The PESTLE subject should be a clear definition of the market being addressed.

Companies are looking at its market where companies can invest their capital.they can interduce their product and people are using that spacific brand and suitable place where that product can easlly ascessable for cutomers.companies are making their planning strategy to lunch new product. Partnership whom they can invest in business and investment opportunity and Government involment by PESTLE analysis.

Task three

Question:

Describe the characteristic of the sugar market. What kind of market structure exists? How far does it differ or approximate to perfect competition?

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 9

Answer:

Looking at the supply side in more detail in relation to business model, identify the factor which you consider to have influenced Tate and Lyle sugar to develop it as the most successful organisation in Europe.

Creating a strong European industrial base is fundamental when securing the foundation of the EU's economy, and ensuring a sustainable progression towards a flourishing economy and an environmentally friendly production.

The European industry federations EMF is with the aim to strengthen the visibility and impact of trade union industrial policy on a European level,

Tate & Lyle's business is most successful organisation in Europe by its business ethics. The company has major result of this review that company has been the decision to switch to Fair-trade sugar cane for all its retail products.

From last 10 years Tate & Lyle is working on reducing carbon and suing alternative sources. The Group as a whole has also reduced energy use by most of since 2000.

In making these changes, Tate & Lyle's managers have considered their suppliers, their employees and their customers as company closer and made strategy. The strategy is designed to appeal to customers and to improve the profitability of the business. It also supports Tate & Lyle's sustainable resources policy also, which will provide long-term security in its supply chain.

Question:

Looking at the supply side in more detail in relation to the business model, indentify the factors which you consider to have influenced Tate & Lyle sugar to develop it as the most successful organisation in Europe.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 10

Answer :

There are many factors which are influnce Tate & Lyle for example technological, political, economic, social, international and etc.

Tecnological Tate & Lyle is considering about new technologies and their implimention because they are awre about technological effect on industries. Technology give advantage to company to improve their business and Tate & Lyle is undertstanding all .

Political Political and legal changing also effect on Tate & Lyle. For example EU and UK change their policies in raw sugar industries and Tate & Lyle are considered to folllows the instruction of both to order to maintain their Law.

Economical : Economical factors is also important because Tate & Lyle belives that Government influnace is powerfull in business practice. Tate & Lyle group is working in somany countries, Tate & Lyle is working in USA, UK, Euorpean Union, so doing business in these countries probably benificial for their economies.

Socail Social responsbility is also expected in Ttale & Lyle business. They are improving their business. Tate & Lyle is active to make active society by their Narm and value.

International Tate & Lyle accepted that effact of others countries law and impact on company. Because government may reserve one part of industries for their own country factries.and posssibily they demand company leadership must from that specific country so that leader can also helpful for the country. Tate & Lyle has reginol leadership from same country where they are doing business.

Task Four

Question:

a). What is the justification for action of this kind by European Commission?

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 11

Answer:

To encourage compitition in busines market and give chance to other companies who are looking to reduction consumer choice.

By this action European Union is motivating all businesses and industries to be come more environmental friendly. EU also considering about low emission and low carbonised atmosphere. And use new technological machinery so it can be also helpful for environment.

Creating a strong European industrial base is fundamental when securing the foundation of the EU's economy, and ensuring a sustainable progression towards a flourishing economy and an environmentally friendly production.

The European industry federations EMF is with the aim to strengthen the visibility and impact of trade union industrial policy on a European level.

Question:

b). Outline other measures which might be taken to encourage competition.

Answer: European Union and UK or other countries can assist for new business by giving then free entry to market and check industries which are taking hugh profit from some products.

Operating ethically

Tate & Lyle producing raw sugar in fairtarde price as little. Tate & Lyle doing this on this belive that by this they can can get increased their slaes. Company has planned to produes energy using new teacnology for befit of company and eviroment.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 12

Social responsibility

Socail responcebilty is become the inportant part of Tate &Lyle group. Tate & Lyle is operating their business ethical, legal, commercially in cleaner enviroment.

Ethical trading

Tate & Lyle has introduced a . This is to ensure employees and business partners understand and meet the standards of responsible business practice. There are specific policies to follow and practices to be avoided.

Fairtrade

It takes time and commitment to reach Fairtrade standards. Tate & Lyle has helped farmers in Belize in South America to do so. This is good for the business and good for farmers.

Health and safety: In every successful business they must have health & safety measures, and strictly they are considering about it.

Question:

c). Explain how small firm are able to exist alongside multinationals producing similar goods.

Answer

Small firm can exist those markets where multinational companies are not investing their capital. Small business can servive in local market as well.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 13

Small firms creating new jobs

Exsitance of small companies in this advanced business era because capitalism monopoly is going on and governments are sporting them. Multinational companies are not relied on new jobs because they belives on workforce of business and technological change. In all industrilised countries record showed that in their countries mostly job creation are in local busines.

For example in mass market like European Unioun information technology and telecmatics jobs are involve by European small firms compitetives growth and empolyment.

Small frim's impact on economies

Most of selempolyment people earning icome and doing more business campare to enterprise .In UK 4millions small firms are working and doing well business, and they are 72% business doing in UK.

Local business

Large numbers of small businessess like garage, grocyshops, private clinics, old homes, haridressers and etc are gernating jobs, business and econmy of countries in social sector, informal sector and non profit sector. Most of multinational companies relied on small egencies to provide them workfore and by this lot of jobs are producing by small firms.

Question:

d). Why do mostly small firms remain firm?

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 14

Answer:

In current scenarios major enterprises companies are in problem to operate their business in market. But they have advantages which small firms haven't.

Competitiveness of the market

The major benefits of big companies have that they have given wide choice to their customers and they have so many specialized workers whom have specialization in their field. But small firm have no more access in wide range of options and even they don't have specialized worker to take care their business.

Lack of strategic planning

Ownership and capital is also major factor for batter strategic planning for companies. But small size companies are owned by small investment and their strategic planning is very weak. Which is the serious problem for small or medium size companies, the formulation of the strategy of each firm usually depends on the vision and the targets of the specific firm.

Insufficiency of staff

Big firm and companies have lot of sufficient staff and skilled staff in different department but in small firm they have specific number of staff even they are not skilled in every fields of business. It is well known that the ability to achieve a successful sale is a basic requirement regarding the staff of a company that operates directly with customers.

Lack of specific knowledge

Financial market where knowledge is countable is necessary or if company is sealing a specific product if they haven't product knowledge or information they will be in difficulties. They need trained and knowledgeable staff. But in small firm they can't hire so many people in different skills.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 15

Lack of customer support

In multinational companies they have customer support department where they are handling with their customer and customer support staff is trained in public dealing. But small firm can't afford customer support department.

Another important factor is the lack of motivation and the absence of active interest for the aims and the vision of the firm applied even when the specific target of the firm is not sales focused and that can be explained by the fact the characteristics of a sale.

And also we can mention other factors like lack of motivation, lack of marketing and so many other which can involve remaining any small firm.

Question:

e). Explain the economic implications for the UK entry into the EMU

Answer:

Economic implications

The United Kingdom has to decide to join the other members of the EU in a monetary

Union. This choice depends in part on the outturns for the economy inside and outside of

EMU. The UK government has chosen to target inflation, and Membership of EMU helps stabilize inflation and the price level in the UK, but leaves output more volatile. The differences depend on the rules in place and on the set of shocks applied to the model.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 16

1. Introduction

The central objective of the UK Government is to achieve high and stable levels of growth and employment and the case for joining Economic and Monetary Union. EMU will be judged against these criteria. The Government's policy towards EMU is that it will join if in the end, a single currency is successful, the government has proposed five economic tests that will have to be met.

Business cycles and economic structures must be compatible so that we and others could live comfortably with Euro interest rates on a permanent basis. If problems emerge is there sufficient flexibility to deal with them. Would joining EMU create better conditions for firms making long-term decisions to invest in Britain. What impact would entry into EMU have on the competitive position of the UK's financial services industry, particularly the City's wholesale markets?

Question:

f). Explore the significance of international trade and European dimensions for the Tate and Lyle group.

Answer:

Tate and Lyle's international trade in USA and European countries have significantly enhanced its performance. Most of the mergers and acquisitions that have taken place at the Tate and Lyle's group are within the European region. International trade like the production facilities in the EU and UK and its extremely famous splenda product in the Asian market like Singapore has added to its international trade.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 17

Question:

g). What impact would the two policies of the European Union and UK have on Tate & Lyle?

Answer:

Policy of European Union

European Union 's farm minister annouced the agreement policy , reduce the amount of sugar price in sugar sector.Tate & Lyle welcomed this agreement and siad the have understand the need for reform of EU sugar regime and they have fully agreed with agreement , the period of stability untill the end of 2015. On EU sugar industry Tate & Lyle remains impact. The impact of redution will reduce Tate & Lyle impact in EU. This impact will also effect on Tate & Lyle operating perfomas as nagitive.

Policy of a UK

Tate &Lyle understand United Kingdom's polyiecs on business and industries, so they keep all . Tate & Lyle is gernerating financail profit but same time they doing work on social and envoirmental sector as well.

Tate & Lyle is doing social responsibilty by safety, knowledge and innovations in their business. Considering inviormental impact by using new technology. Considering locally business by employess, suppliers and local sources into businessfor long term.

Takeing considration every annually performance about corporate social responcebility asking to their board members those are acountable for that.

Rahmat Ali Ansari,

WLCB/HNDBM/0190409

Unit: 4

BTEC HND (Business and management)

Pages: 18