BMP3002 Business in Practice

Ways through which company can impact
external environment-
Firm may promote its products by using the best
marketing channel to gain the attention of buyers
and assure them about goods quality which they
may buy under reasonable prices. Furthermore, it
may recruit local people who possess great
knowledge.
Effect of external factors on
company-
Political factor- changes related to
any political factor may affect
organizational venture, while
operating in retail sector.
Economic factor- due to
pandemic, unemployment rate in
each nation has increased, which
may put negative impact of
business.
Social factor- rising demand for
organic food products may affect
positively upon TESCO venture, in
term of increasing sales.
Technology factor- technology
advancement boost the speed of
marketing operation of venture.
Environmental factor- CSR
practices help to boost brand image
in market.
Legal factor- employment
regulations may drive the attention of
venture towards providing better
Conclusion
From above study it has been concluded
that by developing appropriate strategies,
organization has overcome the negative impact of
external factors.
REFERENCES
Fitrianingrum, A., 2020. The Determining External
Factor of Export Performance In Manufacture
Industry. DIMENSI. 9(2). pp.264-279.
Zinecker, M. and et.al., 2021. Identifying the impact
of external environment on business angel activity.
Economic Research-Ekonomska Istraživanja. pp.1-
23.
Internal factor impact on TESCO-
Strength- range of products in varied categories
that company offer to its customers, is one of
company strengths that affect in term of increasing
sales.
Weakness- in term of weak point, low cost
strategy of organization may put negative impact
on business in term of creating ineffective image
in mind of customer.
Opportunity- Innovation and demand for
increasing vegan food items are the best
opportunities for firm, which may put positive
impact on it, in term of increasing sales.
Threat- Increase rivalry between the biggest
supermarket, in retail sector may affect business
growth and strategic management.
Introduction-
Business environment is consisting several
factors, that affect business operations and
strategies. The current study will be based on
TESCO that has operated across United
Kingdom.
TESCO AND ITS ENVIRONMENT