BMP3002 Business in Practice

1 poster

MORRISON’S AND ITS ENVIRONMENT
Introduction-
Business environment is comprised of
several factors, such as internal and external that
affect ventures activities and operations. The
current study will be based on Morrison’s, which
business is effect by these factors.
Effect of internal factors on Morrison’s-
Strengths- Low pricing strategy is the key strength
of the company that put positive impact on its
venture in term of increasing customer base. In term
of another strength, online shopping and retailing
support to increase the profitability of organization.
Weakness- limited products category in its portfolio
may put negative impact on Morrison’s in term of
decreasing its customer base. Another weakness of
brand is its limited geographical reach as compare
to other big supermarkets in the UK.
Opportunity- emerging demand for organic and
vegan food products may provide benefits to
business in term of building strong brand image in
market. In term of opportunity, technology
advancement is another factor, which support to
generate business awareness at global level.
Threat- Intense competitive rivalry between existing
brands may put negative impact on company in term
of putting a lot of pressure to developing the most
effective strategic management strategies.
External factors effect on company-
Political- Fluctuation in any political
factor may put direct impact on
business growth and planning
function.
Economic- unemployment rate also
affect business in negative manner, in
term of putting pressure to hire local
people.
Social- demand for vegan food
products, may also affect business
production and supply chain
operations.
Technology- It impact in term of
increasing speed of marketing
department to promote venture and its
resources.
Environmental- demand to reduce
carbon foot print also affect business
practices.
Legal- changes in laws and
regulations related to business may
put positive impact on firm, in term of
Ways in which company can impact external
environment-
By including more product in list of its
products portfolio, improving goods quality,
following rules and regulations and hiring people
on the basis of their skills, firm may response to
external factors or environment.
Conclusion
From above study it has been concluded
that by taking varied initiatives, organization has
overcome the negative impact of external and
internal factors.
REFERENCES
Gidlöf, K. and et.al., 2017. Looking is buying.
How visual attention and choice are affected by
consumer preferences and properties of the
supermarket shelf. Appetite. 116. pp.29-38.
Su, D.N. and et.al., 2021. Behavior towards
shopping at retailers practicing sustainable
grocery packaging: The influences of intra-
personal and retailer-based contextual factors.
Journal of Cleaner Production. 279. p.123683.