Business Environment

Business and the Economic Environment

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Abstract
Business economic environment plays a great role in promoting the business operations. The economic set up of the business environment will dictate whether the business becomes successful or fails. Some of the economic factors in the business environment include; the micro and macroeconomic factors. Therefore, the business should establish effective strategies to deal with the economic challenges that might arise in the business. Additionally, the business must evaluate its economic environment and identify the threats and opportunities. This paper aims at evaluating the impacts of the economic factors in the business operations. Additionally, the paper will also evaluate the significance of the government’s policies in the business operations.
Introduction
Most of the business organizations fail not because they do not have the resources to operate the business but because they fail to evaluate the economic business environment. The business should carry a SWOT analysis in the business to help identify the business threats and opportunities that are very significant in the decision making and planning in the business. Understanding the business environment is not only to examine the internal economic factors affecting the business but also to go beyond and examine the external factors. Therefore, economic business environment involves understanding and evaluating the macroeconomic and microeconomic factors in a business set up.
Methods
This research was carried out on EasyJet Airline Company based in London, UK. The research involved a survey of the company’s performance records and the policy records. Additionally, the research also involved an interview with the company’s executive management, CEO of the company Carolyn McCall. The information was then collected and analyzed, and the results were discussed as follows.
Results and Discussion...