The U.K, made up of England, Scotland, Wales and Northern Ireland, is an island nation in north Western Europe. England is home to the capital, London, a globally influential centre of finance and culture. England is also site of Neolithic Stonehenge, Bath’s Roman spa and centuries-old universities at Oxford and Cambridge.
The total area of the United Kingdom is approximately 243,610 square kilometres (94,060 sq. mi). The country occupies the major part of the British Isles archipelago and includes the island of Great Britain, the north-eastern one-sixth of the island of Ireland and some smaller surrounding islands. It lies between the North Atlantic Ocean and the North Sea with the south-east coast coming within 22 miles of the coast of northern France, from which it is separated by the English Channel. In 1993 10% of the UK was forested, 46% used for pastures and 25% cultivated for agriculture. The Royal Greenwich Observatory in London is the defining point of the Prime Meridian.
The UK has a partially regulated market economy. Based on market exchange rates the UK is today the fifth-largest economy in the world and the second-largest in Europe after Germany. HM Treasury, led by the Chancellor of the Exchequer, is responsible for developing and executing the British government's public finance policy and economic policy. The Bank of England is the UK's central bank and is responsible for issuing notes and coins in the nation's currency, the pound sterling. Banks in Scotland and Northern Ireland retain the right to issue their own notes, subject to retaining enough Bank of England notes in reserve to cover their issue. Pound sterling is the world's third-largest reserve currency (after the US Dollar and the Euro). Since 1997 the Bank of England's Monetary Policy Committee, headed by the Governor of the Bank of England, has been responsible for setting interest rates at the level necessary to achieve the overall inflation target for the economy that is set by the Chancellor each year. The UK service sector makes up around 73% of GDP. England and Scotland were leading centres of the Scientific Revolution from the 17th century and the United Kingdom led the Industrial Revolution from the 18th century, and has continued to produce scientists and engineers credited with important advances.
Business culture in the UK is characterised by business communication, business etiquette, business meeting etiquette, internship and student placements, cost of living, work-life-balance and social media guide, the universities of Cambridge and Oxford have their own journals in which the research related to business management used to publish, business management journals like International Business Studies, UK Economist, Entrepreneurship & Organization Management, Global Economics, Business & Finance Magazines & Journals, etc. are also publishing the research work related to the Business Management.