Question Business Management Q Your task is to write a report that describes, explains and analyses three relevant newspaper articles published in the UK national print press. Your report should be titled 'Three firms: changes in their business environment'. Each newspaper article should refer to a specific firm that is undergoing or responding to a particular form of change. Each of your three stories should feature a different firm.Story 2 A firm that is being affected by change with respect to at least one of the following general external environmental factors: political, economic, social, technological, legal or ethical/environmental, i.e. affected by changes in at least one of the general PESTLE environmental factors. Story 3 A firm that is being affected by changes in the microeconomic environment; there is change in at least one of the operating environmental categories that is specific to the identified firm, eg. changes with respect to Customers, Competitors, Complementors, or Suppliers. You should clearly describe each story and demonstrate an ability to apply relevant microeconomic and/or macroeconomic concepts in a real world context; your report should analyse each firm's situation from a business economist's viewpoint as you explain the context, rationale and implications of the story about the firm. For example: If, for story 1 you had been describing and assessing the merger between Lloyds-TSB and HBOS (in 2008) you might have identified it as a horizontal merger and identified details with regard to the effect on market concentration and analysed rationale such as economies of scale or new business opportunities (see information on mergers in the course text book p228-32). If, for story 2 you had been looking at an article (in the late 1990s) on a specific firm affected by a rapid rise in house prices, you might have identified general factors such as rises in incomes, increased desire for home ownership, government interest rate policy, the cost & availability of mortgages, speculation etc. See the article on the housing market, pages 52-3 in the course textbook. Diagrams showing shifting supply and demand curves and reference to the concept of elasticity might have helped your analysis. If, for story 3 (in the early 2000s), you had been developing your analysis from an article on a specific Indian restaurant, you might have found the concept of monopolistic competition to be useful. See pages 144-5 and 160-4 in the course textbook. Other relevant concepts besides those of market structures might have been the Structure Conduct Performance model, Porter's 5 forces and possibly elements of game theory. The above examples are for illustration only. You should not attempt to exactly follow those specific stories. Your story should come from an initial article published between Monday 16th November 2015 and Thursday 10th March 2016. What is relevant depends on the particular story that you choose and other Business Economics concepts may be more appropriate. REQUIREMENTS • Summary: Begin with a summary of the three articles and your approach. (200 – 250 words) • Three stories. Each story has a description, explanation and analysis: Write 300 - 400 words of text PER story. • Conclusion: A brief assessment of your analysis for the three stories. (200 – 250 words) • Your total word count should amount to between 1,300 – 1,700 words. The word count does not include the front and contents page, diagrams, references, bibliography or appendices