FLM401 Business Environment Level 4 Assignment sample 

This is the sample assignment of FLM401 Business Environment Level 4. FLM401 Business Environment Level 4 introduces students to various aspects that impact businesses from government legislation and regulatory issues, international trade agreements, or regional economic policies; each with unique challenges for executives at all levels within a company.

By exploring these topics thoroughly and learning how they affect both current global markets as well as their own companies' potential future strategies, organizations can mitigate risk while achieving success on an unprecedented level.

Assignment solutions of  FLM401 Business Environment Level 4 Certificate Course

Assignment Activity1. Explain the impact of external factors on the entity.

External factors have a demonstrable effect on the entity's profitability and market share. Their direct influences include:

- Market competition in a particular region, which may be more or less competitive depending on whether the entity is considered to be more or less innovative than its peers in that industry;

- General economic conditions, such as localized hardship of recession;

- Business interest rates, which do not directly influence consumers' purchase decisions but do affect what businesses charge for credit.

In addition to these external factors, other aspects of how governments and the public perceive and respond to the business are highly relevant for their success

Assignment Activity 2. Identify compliance requirements related to the entity.

A compliance requirement refers to a rule, regulation, or standard that sets guidelines for the behavior of an individual or organization. Compliance requirements may also include notification requirements and deferral provisions related to environmental compliance. It's important to identify these before you start and the risks related to falling out of compliance.

There are two primary categories with different considerations when it comes to complying with the stipulations in a requirement: baseline external compliance and situational internal compliance (supersedes the general external baseline).

The difference between submitting on time vs late is whether there are sanctions for not meeting a deadline, usually a financial penalty assessed by some type of regulatory body. There will also be ramifications such as fines, inconceivable loss of reputation;

Assignment Activity 3. Describe the impact of internal factors on the entity.

A company's internal culture has a significant effect on its external brand. Recent studies indicate that employees who are passionate about their job and take pride in the company they work for are more engaged and have higher morale.

This may be due to the fact that proactive, highly engaged employees see opportunities for themselves within their roles, which translates into leadership skills. This means they're more inclined to go above and beyond in terms of supporting the values of their organization while delivering high levels of customer service–facts that both buyers and customers prize when making purchases.

From a business perspective, implementing an organic corporate culture is key. This helps foster motivating factors like meritocracy where employees feel empowered by promoting team spirit—a sense of community

Assignment Activity 4. Different leadership styles.

Different leadership styles can be classified into 3 distinct categories,

1.Autocratic- Autocratic leadership is a style of authoritarianism that has been used in different times and locations around the world to create an order for cultures. Leaders with this type of power typically believe it's their duty as an individual, not just anyone else's right, to make decisions for the group without any input from followers at all. They are usually people who consider themselves more knowledgeable or wise than those they lead since they often do not accept advice from others because sometimes there may be things about which even these great leaders don't know anything about!

2.Democratic- A democratic leadership is a style of shared decision-making. Democratic leaders include members in the process and take their input into account when making decisions for the group.

A democratic leader will make sure they involve all participants, including themselves, before coming to any conclusions or taking actions that may affect them. This type of management does not rely on one person dictating everything but rather allows everyone's voice to be heard from start to finish,

3. Laissez-faire- Laissez-faire leadership is an approach to management that insists on the freedom of employees. It takes a hands-off approach and believes in trusting its workers with important decisions, which are made without interference from supervisors or other managers.

Assignment Activity 5. Identify appropriate leadership approaches in specific contexts.

The leadership approaches required for different tasks can be different. Leaders that are excellent at long-term strategy might struggle with daily operations, while leaders who are good at short-term firefighting could fail on long term strategy (Think about how it feels when the person you work for gets awarded a promotion and then proceeds to completely ignore everything they were good at).

Some of the different contexts for business include developing products, running a meeting, planning out strategies, leading an interview process. For each context, there is an approach or set of approaches that will be more successful in achieving success.

Assignment Activity 6. Work in a team towards an entity’s objective

In today's business environment, working in a team is often the best way for an organization to stay competitive. Teams have their own special abilities and usually consist of one leader, specialists in various skills areas, and the other employees required to complete projects as needed or assigned. Each individual has their own talents which combine into a group effort that can be more powerful than any one person working alone.

A team is responsible for getting everything done on time and on a budget without slacking off or counting free hours. All members make important contributions and everyone works hard towards achieving their objective while still maintaining an easygoing spirit through daily laugh sessions!

Assignment Activity 7. Achieve positive workplace relationships.

In order to achieve positive workplace relationships, it is important to have a good understanding of yourself and your colleagues. Employees should do their best not to take issues at work personally, learn from successes and mistakes, communicate effectively with others, develop effective team working skills and engage in meaningful activities while at work. When employers start hiring employees who are well-suited for the specific job requirements they want them to do then they will soon begin having positive workplace relationships.

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