BMP3002 Business in Practice

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BMP3002 Business in Practice
INTRODUCTION
Business environment is the internal and external
factors which affect the company’s operations.
ASDA is the chosen organization which provides
retail option of various products.
Internal Factors
Strength- Company is having a high brand
awareness and efficient economic growth to provide
services as per customer requirements (Seong and
et.al, 2019).
Weakness- Company faces limitations in terms of
providing new products as per customer
requirements and due to which is having low market
share.
Opportunity- In the present time of COVID-19
company may use cost reduction offers and
integrated approach of in-store sales and online sales
to achieve high sales.
Threat- Due to increasing market competition
organizational profit margin is being reduced and
with that threat of substitute is also being increased.
External Factors
Political- Changing governmental
policies like COVID-19 lockdown
has been followed by company and
has to face high customer loss.
Economical- Product prices has to
be reduced to attract new customers
and loyalty of existing, due to
which profit margin is reduced
(Karami and et.al, 2020).
Social- Trendy products has to be
provided, through which customers
can be ensured that they are able to
achieve trendy products, which
fulfil their requirement.
Technological- ASDA has
implemented technological
advancement within daily
operations and has implemented
options like home delivery and data
monitoring.
Impact on company
Work culture- Overall work
culture has to be changes
accordingly by which
situational advantages are
being achieved.
Working strategy- Work
strategy has to be
improvised by which
sudden advantages are also
being achieved.
CONCLUSION
From the analysis it can be concluded
that company has to make appropriate
changes within the working by which
strengths can be used to achieve situational
benefits and achieve competitive edge.
REFERENCES
Seong, Y. and et.al, 2019. Examining underlying relationships between the ASDA-S and the AIR and the
ASDA of adolescents and young adults with and without disabilities. Advances in Neurodevelopmental
Disorders. 3(2). pp.173-187.
Karami, M. and et.al, 2020. Identifying the Factors Affecting the Selection of B2B Online Market Entry
Strategies Using Soft System Methodology (Case Study: IT Industry knowledge-based
companies). Journal of System Management. 6(2). pp.55-80.