Impact of Contemporary Business

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Introduction

The purpose of this study is to complete two features which consist of a portfolio portion and individual reflection piece. The portfolio consists of material on contemporary business, which is annotated and labelled to show the understanding and ability to grasp the contemporary issues informed on, attached with the workbook. The second part of the study is an individual reflection on one of the topics, using factorisation methods and analysing individual research on a current issue. By examining the current issues that impact upon business organisations, through reading, discussion and reflection on the changes of social, economic and political environment which impact on the business environment. Through the process of discussion and analysis understandings. With the understandings learnt, there can be forecasting done for upcoming corporate activities and also there can be involvement in cognitive forward planning. By investigating the current issues that impact business organisations by completion of a portfolio and reflection piece, can in turn give me greater knowledge and gain greater awareness of critical business issues currently going on and how they affect businesses and by this, this can currently help me discuss skilfully about the current issues going on, and display my investigative skills in the portfolio and reflection piece. Also this investigation will show how I am able to address contemporary issues and analysis them, by analysing them in a critical analytical way how issues effect the success of businesses , but also how contemporary issues effect economic growth. So by completion of this study, the outcome should be raising awareness of the current business issues effecting businesses and how they are managed, but also the awareness of the rational modelling and the effect of it on businesses while entail forming good business relationships.

What have I investigated?

In this study the six topics that I have investigated are Corporate Social Responsibility, Future, Technological Paradigm Shifts, Financial Markets, Legislation, Environmental Issues and Business Ethics. Corporate social responsibility is defined by the UK Government as "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large"(The Carbon consultancy) From the definition you can see CSR is about taking responsibility for business processes (Business Responses). When looking at CSR the business responses you look at are The Marketplace, The Workplace, The Environment and The Community. Future is where a company forecasts, future events,, and from theses can see what products are needed to come out with advances in new technology. Technological paradigm shifts is where there is a change in technology, and the use of knowledge to invent new products, and with new understandings and technological advances occurring, which can help invent new product with new technology. The world has been modernised by technology e.g. the change from consumers predominately watching movies on VHS to watching movies on DVD. We are currently going through another change in this area such as change from DVD to Blu ray. Technology predominately is the changes over times and modernisation, but also the expectation of products from consumers. Financial Markets is where institutions are shaped, where the aim is to be the exchange of capital and credit in an economy. In finance the financial market is where they are raising capital, in the capital market; however the downside to this is they take the responsibility and take the transfer of risk on them, which is used in the derivative market. The financial markets are also involved in worldwide trade on the currency market. There are different structures of the financial markets such as stock...
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