Business And The Business Environment Assignment Sample

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Assignment 2

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Introduction

Analysis of the business environment helps in determining the external and internal factors that affect the working of the organization. This helps the company form strategies that result in overcoming all the challengers and assist in mitigating risk associate with the environment. London communities’ kitchen academy is the company that focuses towards providing education facilities that helps in creating culture of entrepreneurship within country. This report will include Pestle and SWOT analysis of LCKA that helps in identified policies according to company’s capability.

PESTLE analysis

This is the tool that helps in determine various external factors that are impacting the working of the organisation and creative negative impacting on overall operational of firm. Macro environment analysis of London community kitchen is as follows;

• Political factors: As the brexit has introduces in the UK there is increases in the instability of political parties within UK. Company is promoting entrepreneurial culture, brexit result in the creating barrier in trade leading to decreasing motivation of individual focussing towards business (Pestle analysis of LCKA in UK, 2021). This results in reducing number of candidate in the institution leading to negatively impacting overall profitability.
• Economic factors: There is an increase in the inflation rate in the country that results in reducing purchasing power of individual. This reduction in purchasing power leads to less preference of individual towards private educational institution leading to impacting profitability. There is increase in the interest rate in the country which results in the making the education expenses within country.
• Social factors: There is an increase in the population in the country which results in increases the needs of education within firm (Whitmeyer and Dordevic, 2021). There is a constant change in the taste and preference of the consumer which results in impacting on the overall organization of organisation.
• Technological factors; There is continuous change in the technology and the technique of the organisation which creates obligation for company to include new technology to maintain competitive in the industry. This will help in creating positive impact as it is able to provide better services and assists in attracting large amount of customer. However this creates obligation for firm to indulge excessive amount results in reducing overall profitability and financial position.
• Legal: There is a constant change in the rule and regulation of the organisation which results in creating legal obligation for the company to follow. It has been determined that LCKA has effective in managing all the regulation.

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SWOT analysis:

It is the matrix that helps in determining the capability of the company in overall the challenges. This also provides information regarding the weakness and threats that can impact its working. SWOT analysis of the LCKA is as follows;

Strength

Goodwill: It is the biggest strength of the academy as being into the market from 2014 has created good sort of impression and trust in the student/customer of the academy this has eventually become one of the strength of the company in recent past. It has been also understood that this academy is one of the most popular one across the London area this generally used to impact their image in very positive way. Hence, goodwill is one of the strength of academy.

Variety of the courses: This is strength of the academy, it has been seen that the amount of courses that are really offered by the academy is ready diversified that generally helps in attracting number of customer in the academy (Williams et al, 2020). Some of the diversified courses that are offered by the academy are Barnet, Brent and Harrow with Cookery courses. Along with the diversification of the course the academy make sure that the quality of the teaching is always maintain in the academy.

Weakness

Financial resources: This is one of the biggest weaknesses of the company, being the nature of the academy is the donation and amount of revenue for the company is really low. This eventually creates the issue for the company in terms of sourcing efficient financial resources and also utilizing the same in the best way possible into the organization.

Lack of customer base: This is another important weakness of the academy, it has been understood that due to lack of interest and high number of competitors company is unable to attract lager number of customer results in impacting their profitability position.

Opportunity

Government Support: This is the biggest opportunity in front of the academy, it has been understood that due to social contribution that are being done by the academy generally used to attract the good sort of eyes of the government people (SWOT analysis of LCKA, 2022). This event can be used by the academy as one of the promotional tool to attract the new customer in the academy. This will help them in overcoming one of the weaknesses of the academy that is lack of customer base.

Fund raising event: This is another opportunity in front of the academy, it has been understood that if academy takes some of the help from the celebrities to promote the academies and raise fund for the same. This sort of the activities will eventually help in raising fund and overcoming the issue of lack of financial resources of the company.

Threat

Other social cause event: This is one of the biggest threat for the academy, it has been understood that there are number of different type of social issues that are being seeing rise in last couple of year such as children obesity, lack of children focus etc, this are rated more serious social cause and used to attract the eye of the people this eventually used to become one of the threat for the academy to create their name into the market. Hence, academy has to make sure that they actively creating there issue awareness into the market.

Deflation: This is another threat for the academy, it had been understood that in deflation period people generally used to show low interest toward different social issues into the market. This is another important threat that is hurting the academy in the recent past and academy has to take the corrective step to overcome the same.

RECOMMENDATIONS

From the above analysis it has been determine that company is having high amount of goodwill and is able to overcome various challenge. The legal regulation in all the country in which firm is targeting to expand are almost same which make it easy for the firm to plan its expanding strategies. Company should invest towards adopting latest technology which will help in increasing its efficiency and creates competitive edge results in maintaining stability in the industry (Wingfield and Chavez, 2020). It has been determine that government in UK is providing funds to company that will help in overcoming all the financial issue and helps in effectively carrying out the operation of the company. There is constant changes in taste and pReferences of the individual and to overcome such issues company can add additional courses according to demand of individual. This will help in fulfilling their needs and helps in attracting large number of customer results in overcoming the weakness of the less customer base. From the above analysis it has been suggested that LCKA is having effective strength and opportunities in the market which will help in easy expansion in the industry.

CONCLUSION

From the above report, it has been determined that LCKA is working effectively and has adequate opportunities to expand in different countries. It has been determine that brexit, inflation, increases in interest rate, advancement in technology are the various factors that are impacting the working of the organisation. Company is able to crates goodwill and reputation in the industry that helps in attracting large number of costumer. Lack of finance is the weakness that is negatively impacting operations of the firm. Government support and fund raising events are various opportunists through which company can overcome weakness and easily expands in other countries.

REFERENCES

Books and Journals

Whitmeyer, S.J. and Dordevic, M., 2021. Creating virtual geologic mapping exercises in a changing world. Geosphere, 17(1), pp.226-243.

Williams, S.N., Armitage, C.J., Tampe, T. and Dienes, K., 2020. Public perceptions and experiences of social distancing and social isolation during the COVID-19 pandemic: A UK-based focus group study. BMJ open, 10(7), p.e039334.

Wingfield, A.H. and Chavez, K., 2020. Getting in, getting hired, getting sideways looks: Organizational hierarchy and perceptions of racial discrimination. American Sociological Review, 85(1), pp.31-57.