• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17

Monetary union will have both positive and negative effects on business, this assignment sets out to explain and explore the economic and political issues surrounding EMU and their effect on a UK business.

Extracts from this document...


1.0 Introduction EMU stands for Economic Monetary Union and involves replacing the currencies of participating European countries with a single currency - the euro. But this will mean much more than just swapping one currency for another, it will affect businesses both outside and inside countries that join the single currency. Monetary union will have both positive and negative effects on business, this assignment sets out to explain and explore the economic and political issues surrounding EMU and their effect on a UK business. This report is divided into three main sections: * The first section sets out the broad principles of EMU and explains the origins, entry criteria and timetable, it also looks at the current policy of the UK government. * Section two looks at the effect of the Euro on J Sainsburys plc. on two separate scenarios, firstly if the UK joined the Euro and secondly if the UK didn't join. * Section three concludes which political party would produce the best situation for J Sainsburys. 1.1 Why have EMU? If you started with �100 in the UK and then went on to visit each EU country exchanging your money for the local currency each time by the time you back to the UK you would have no money left without having spent a penny of it. It would all have been absorbed in bank fees, commission and exchange rate fluctuations between all the member countries. This is the same for European currencies. The potential economic benefit for a single currency is very clear. Economic Monetary Union is designed to maximise the positive effects of having a European single market by permanently fixing exchange rates between European member states and eliminating the expense and problems of exchanging currencies between them. On a more global footing the three major anchor currencies are the US dollar, the Japanese Yen and the German Mark, but the fact that the German Mark lacks the economic weight to support currency shifts between the three has caused problems with the world economy in the form of exchange rate instability. ...read more.


This is the new commitment of the company in the annual report published for 1999. In this report the Chief Executive's review states that "the business has a clear strategy and determination to broaden its appeal, increase efficiency and substantiate its offer". This statement means that the company wants to become more efficient and to make sure that people know that the company means business. When the word Sainsbury is used, people automatically think of the Food Company which for a while used to be the leading food retailer in the country before Tesco overtook them in the race to be the best. J Sainsbury as an organisation own five separate company's which are; Sainsbury's Supermarkets, Shaw's, Sainsbury's Bank, Savacentre and Homebase. All of these companies deal in different types of product such as wood to food. Here in detail are what the companies specialise in. 2.1 J Sainsbury supermarkets J Sainsbury, is a food company, which is the second biggest food retailer in Britain, behind Tesco. They deal with products ranging from frozen food, fresh food and grocery produce. New ideas and ways to do things are changing all the time to keep up with the customers needs so new brands have to be launched such as Food to go which offers a hot chicken and curry bar, pies and roast meats. An increased number of new style salad bars and new packaging for salad pots have also been introduced. Here is a table, which shows a summary of the company: Sainsbury's Supermarkets analysis 1999 1998 Sales (incl. Taxes) �12,096.9m �11,563.8m Operating Profit �714.1m �734.6m No. of Stores 405 391 Sales Area (000 sq. ft) 11,425 10,860 Full Time Employees 39,890 38,416 Part Time Employees 89,798 88,155 The supermarket has several departments within the store such as bakery, fresh meat, bread and the dessert counter. These are the areas that customers like to visit because they appeal to traditional customer's and add value and individual service. ...read more.


Adidas (U.K) Ltd 2. Alba PLC 3. Allied - Domecq PLC 4. Allsports (retail) Ltd 5. Barclays PLC 6. Black & Decker International 7. British Airways PLC 8. Cadbury Schweppes PLC 9. Carlton Communication PLC 10. Cellnet Ltd 11. Manchester United PLC 12. Virgin Atlantic Airways Ltd 13. Tesco PLC 14. J Sainsbury's PLC Tuesday 26 October * We all jointly drafted up the questionnaire and the letter to send to each company * Neil was to type up the letter * Andrew was to type the questionnaire Tuesday 2 November * All checked the questionnaire and letter for any errors * We decided to add stamped addressed envelopes with each letter to encourage some response. * Brought the envelopes and the stamps * Decided to write the stamped addressed envelopes to Neil's house Friday 5 November * Added a photocopy of the assignment to each company * Sent letters Tuesday 16 November * Analysed the replies which we had received * Decided which company we were going to look at in greater depth * We chose J Sainsbury's Thursday 18 November * We decided that Stuart, Neil and Aaron would find out more information on Sainsbury's * Sources used were Sainsbury's financial accounts and Sainsbury's internet site * Stuart, Neil and Aaron were to do part two between them. Tuesday 23 November * Analysed what had been done on part two * Added a few more points * Andrew was to do part three * Neil was to write a brief description on Sainsbury's Friday 26 November * Started to put the whole document together * Decided Aaron would do an introduction to the assignment, Stuart would do any other outstanding parts of the assignment. * Rang up the three main political parties central offices, for their policies on the EMU. Wednesday 1 December * Made all of the work one whole document * Edited it all Thursday 2 December * Rechecked the document and improved its appearance * Made any correction * Got the document binded ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level European Union section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level European Union essays

  1. Marked by a teacher

    The European Union and UK Businesses

    3 star(s)

    in a few words, the commitment of implementing simultaneously the great market without frontiers, more economic and social cohesion, an European research and technology policy, the strengthening of the European Monetary System, the beginning of an European social area and significant actions in environment" These are the main changes that

  2. The French Revolution

    Burke believed that humans were corrupt and capable of great evil if civilisation was removed. There are ten principles upon which the ideas of conservatism have been built which were based on the reactions to the French Revolution: 1. There is a moral order in the world that man must follow.

  1. European Monetary Union

    Exchange rate is the value of one currency compared to one another. The exchange rate is primarily related to the European Business and trade. As each business trades in return of money. The value of the exchange rate will have an impact on the European business as the rate is

  2. Free essay

    Finnish Party System

    From the very beginning parties have attended to many tasks in the legislature including political education and mobilization of voters, nomination of candidates for election, and organization of parliamentary work. In each party, the parliamentary group also acts as an organ which controls the activity of the party's individual members

  1. Evaluate the features of Toyota UK Burnaston

    6 Land Rover 147,545 7 Vauxhall/Opel 133,637 8 MG Rover 132,789 9 Jaguar 126,121 10 LTI 2,346 11 Lotus 1,731 12 Aston Martin 1,476 13 TVR 871 14 Bentley 816 15 Rolls-Royce 502 16 Morgan 516 17 Caterham 435 18 Metrocab 111 Manufacturer Model Amount 1. Peugeot 206 207,237 2.

  2. To what extent was the fall of Olivares due to the Union of Arms?The ...

    His enemies, now encouraged by his failure, began plotting to remove him while relations between Castile and the rest of Spain became distant, reticent and caught up in revolt, prompting further fragmentation. Catalonia was not the single blow dealt to Castile in the wake of the Union.

  1. Will examine the effects membership of the European Union or EU has had on ...

    For example the EU forced the United States to reduce steel tariffs by threatening to place tariffs on US exports to the EU. The UK had suffered as a consequence of these tariffs and lost considerable amounts of trade. On its own, the UK would have had little chance in negotiating these agreements.

  2. The EU's CFSP and the Iraq Crisis: A Catalyst for Change?

    It is likely that the Iraq Crisis will ultimately have served as a catalyst for renewed efforts at making CFSP work. Some positive developments towards more effective CFSP took place in the immediate aftermath of the Iraq Crisis. At the height of tensions over Iraq, leaders of the EU held a summit which drafted a joint position on Iraq.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work