Information between internal and external stakeholders is essential and proper communication can make the difference between success and failure. In a dominating supermarket, like Aldi, it’s not unusual for internal stakeholders (employees) to become loyal external stakeholders (customers). Stakeholders for Aldi may include: * Consumers * Employees * Suppliers * Government * Financial institutions * Media Being an international company, for the communication to be effective, it’s essential that cultural differences are taken into account. Television Advertisement One of the biggest factors of Aldi’s success in the UK has been said to be because of their TV adverts. They’ve won a number of awards for their advertising and research showed that viewers remembered and enjoyed their adverts more than any rival company.
Part 1 a) The environmental influences that face E Ltd proposed expansion into Europe can be identified and explained using the P.E.S.T analysis concept as described in B291 “Financial accounting” (unit 1 p47). P.E.S.T stands for political / legal, economic, social / demographic and technological. A big impact on Eleonora’s decision to invest in a foreign country will be her sales strategy. Are products sold via a UK website or will they be sold via a sales team based in a subsidiary branch in the relevant country? The environmental influences are described below: Political / Legal Different countries have different rules relating to business.
It is essential to understand and keep track of competitors’ measures for the purposes of ensuring formulation of policies that would be able to generate more market for the company’s products. In this treatise the analysis is based on a United States of America company taking over an European based company and willing to operate in both the countries and also export all over the world (Johansson, 2008). Cross Sections of Culture Prevalent in the
M1 Tess Ryan 40046771 Melissa Bridge Introduction: Virgin Atlantic is vertically integrated is organised as a business by having higy quality leadership as customers are central to their success. Within Virgin Atlantic, they have long haul pilots, product designers and catering experts, fuel analysts, contact centre agents, aircraft leasing managers - all to gaurentee make sure Virgin Atlantic is organised in a hard-working, honest and open environment. As well as being set up with excellent customer services for the business and leisure travellers, as well as setting new standards for the rest of the industry to follow. The financial strategy is to ensure they offer the best business product in the air, grow our leisure business even further, and run an efficient but effective global airline in order to make a profit. Whereas Thomas Cook is a vertically integrated as well as a horizontally integrated company as they merged with my travel and co-op travel which joined together in an attempt to save in costs and make the companies more profitable as well as having tour operators, travel agents, airlines and hotels in which makes them vertically integrated.
Which law should come first? The EU laws will tend to protect the entire EU community, and hence is expected to represent the perceived good of all its members. On the other hand, a BIT between two signatories is also binding and should not easily be dismissed, particularly if it was signed and exercised prior to EU membership. The article presents evidence that in the above case, EU law is secondary of BIT and local laws. In 2008, a Dutch sugar company was awarded 25 million Euros against the Czech Republic, based on a pre-existing BIT contract from the 1990s.
Influences by IFRS (international financial reporting standards) The company should adopt the full IFRS (International Financial Reporting Standards) as adopted by the European Union. It is because of the fact that the company operates internationally and a compliance with the standards of IFRS will help it to make its financial statements easier to compare with the statements of the company across countries, with the competitors across the industry sector and beyond, along with improving the quality of disclosures in the financial statements. The usefulness of the adaptability to the IFRS can be identified by having a look at the results of a survey report assessing the impact of IFRS on the financial health of the nations under the European Union. The following were the results of if Ericsson applying IFRS: The adaptability of IFRS has made the understanding of the financial statements easier, which was very complicated earlier. The companies have also seen that their dialogue with the investors, creditors, and other stakeholders and with the other companies in the marketplace has increased rapidly after the introduction to IFRS.
What Strategies should a socially responsible corporate organisation use to create, develop and maintain distinctive capabilities? In order to address the question in this essay, I will discuss the definition of a socially responsible corporate organisation, its distinctive capabilities and what strategies would it employ to create, develop and maintain its distinctive capabilities. “The European Commission defines CSR as "a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis, as they are increasingly aware that responsible behaviour leads to sustainable business success." (Commission of the European Communities, Website). A socially responsible corporate organisation would consider the interests of their customers, employees, shareholders, communities, and the ecology and consider the social and environmental consequences of their business activities in order to create both social value and corporate value.
The mentioned agreements satisfy the common definition of a cartel as a formal organization of producers and manufacturers that agree to fix prices, marketing, and production (Sheffrin, 2003). This paper evaluates the decision of the European Comis sion from an economic point of view, especially with respect to the underlying theory of cartels, monopolies, welfare effects and consequences for the consumer. First the theory of perfect competition is discussed to clarify the goals of EU competition policy and why they took action in this case, followed by an overview on the infringements this companies were involved in. The case at hand accompanies the theoretical approach with examples and illustrations to create a link between the reason of the EU Co mission and economic forces at work. A short introduction to monopoly theory helps to understand how the formation of cartels
It strengthens the role of Parliament in the budget process of the EU and extends the use of the decision procedure cooperated in several areas, including issues of agriculture and home affairs. As such, the Treaty gives Parliament an equal voice with the Member States in the Council of Ministers in the vast majority of EU legislation with a few exceptions, like most aspects of political foreign and defense. In addition, the Lisbon Treaty provides national parliaments with a degree of greater authority to challenge EU legislation project and allows the possibility of further legislative proposals on the basis of citizens' initiatives. The United States strongly supported the project of European integration since its creation as a means of fostering democratic states and strong trading partners in Europe. The US and the EU have a dynamic political partnership and share a business relationship and huge investment.
And, the Horizontal effect means that individual can use European law against another individual. As mention before the Treaty of Rome is foundation of EU law. The Treaty of Rome outlines the various forms of legislation which is Treaties, Regulation, Directives, Decisions and Recommendations. Treaty Articles are fundamental. This is primary source and apply automatically to member states for this purpose it has direct effect, horizontally and vertically, and are hard law.