Business and the Business Environment

This document provides an overview of the business environment, including the internal and external factors that impact organizations. It explores different types and purposes of organizations, as well as the interrelationships between organizational functions and objectives. The document also discusses the PESTLE analysis and its role in strategic management.

BUSINESS AND
THE BUSINESS
ENVIRONMENT

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................1
ACTIVITY 1....................................................................................................................................1
Different types and purpose of organizations .............................................................................1
Differences on the basis of legal structure ..................................................................................3
ACTIVITY 2....................................................................................................................................6
Pestle Analysis ............................................................................................................................6
Porter's Five Forces Model..........................................................................................................9
VRIO Analysis...........................................................................................................................11
SWOT Analysis.........................................................................................................................12
TOWS Matrix............................................................................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES .............................................................................................................................17

INTRODUCTION
Business environment can be defined as the collection of overall internal and external
factors which gives impact on organization functions. Internal factors are financial resources (i.e.
money and investors), equipment, employees, suppliers, infrastructure and human resource
management which gives impact in organization. While external factors are government laws
and regulation, customers need and their expectation, social trends, innovation technology,
environmental factors, socio-cultural factors, political factors, legal factors and technological
factors which gives impact on organization performance. External factors are further classified
into two parts micro environmental factor and macro environmental factor. Macro environmental
factor includes socio-cultural factors, political, legal, technological and demographical factors
while micro environmental concludes supplier, customer, competitors, market that enhances the
operations and performance in company. Business environment supports company to make
realistic plans which can lead effectiveness while implementing plan. It also supports
organization to determine opportunity and threats in business market. It also assists business to
create brand image. As well, it supports organization to identify of growth areas. Business
environment helps organization to generate competitive advantage in competition market.
Additionally, it gives direction to company for growth their product or firm in other countries.
To understand business environment there is an example of Sainsbury company. It is the second
largest chain of supermarket in the UK. Organization has 16 % market share in retail sector. This
report includes different types and purpose of organizations such as public, private and voluntary
sectors and legal structures and links them with their objectives and products and services that
offers by the company.
ACTIVITY 1
Different types and purpose of organizations
Public sector: It is a profit type company which is operated by government and provides
services to customers across the world. It also gives high contribution in country economy. The
main goal of the private sector to provide overall product or services to public. Products are
safety services, hospital services, petroleum services and military services. For example, British
petroleum (BP) is a public limited company which offers worldwide services to customer. BP plc
is a multinational oil and gas company which is headquartered in London, England. Products are
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petroleum, natural gases, motor fuels, aviation fuels and petrochemicals which is offered by
customers. It comes in worlds 6th largest oil and gas company.
Private Sector: It is generally operated by owner independently for private gain. It is non-
governmental type company. It has goal to offers high quality products for making profit along
with generating high revenue by selling their products or services to customers. There is no
control of government while operating various function within company (Yang and Gabrielsson,
2017). For example: Sainsbury is a public sector type company which has main goal to focus on
customers requirement’s and their expectation about products and their services. To meet
customer objectives offers wide variety products by organization. Products are hypermarket,
supermarket, superstores and convenience shop. Organization offers worldwide services to
customer. It is retail industry which trades wide variety of product line i.e. clothes. Groceries,
home accessories and financial services to customer. Organization has 16% market share in retail
sector that automatically enhance country economy.
Voluntary sector: It is non-profit type sector which is operated by group of people. It is
independent of local and national government that’s why also known as non-governmental
sector. There is an example of volunteer sector is Oxfam. It is charitable organization which
focuses on the reducing of global property. Organization gets funds from private and public
sectors. Even they also organize some cultural shows which supports to earn funds.
Difference on the basis of size
Micro size: micro size enterprise is basically operated with more than 10 people. It start
with small amount with minimum people. It is subset of small business community on the basis
of number of employees within company. Such kind business also add values to the economy by
opening micro business. It runs by individual trader or entrepreneur. Micro business gets funds
from bank, friends and relatives for initiating micro level business. They offer product and
services to customer. Such kind business has goal to introduce innovation in product or services
so that people gets different and high quality product and services. The annual turnover of the
small business below €2 million (Micro-, Small and Medium-sized Enterprises Day, 2017).
Small size: it is small scale business in which operates small number of employees. It
runs independently by owned or partnership. It operates with less than 50 employees and annual
income is below €10 million (Small and Mid-size Enterprise, 2019). It is limited in size, revenue
and regulatory authorization. Additionally it is non subsidiary, independent firms that employees
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fewer number of worker within organization. The main goal of the small business to generate
high incomes by offering good quality products to customer. Small business are different types
such as sole proprietorship, partnership, limited liability company, cooperatives and cooperation.
Government supports small business because they also give contribution in country's economy
by paying taxes. They gets funds from bank or friends and relatives.
Medium size: It is medium size business which quite larger than small and micro size
business. It is operated with more than 250 employees (Small and Mid-size Enterprise, 2019. ).
The annual turnover is below €50 million which is quite high rather than small and micro level
business. It requites investment more than 2 crore but less than 5 crore. The main goal of the
medium size enterprises to improve brand image as well business growth in other countries.
Medium size enterprises also gives contribution in country's economy by paying taxes.
Organization gets funds from government bank and MNC companies for promoting business in
different sectors.
Differences on the basis of legal structure
Sole trader: It is very simplest from any type of legal business structure. To initiate
business requires innovative ideas along with lots of determination to accomplishes goal. It is
operated by one people as well takes overall profit which is generated through selling products or
services to customers. The main objectives of sole trader to introduce new product or services to
customer so that they gets values of their money. Here owner is self responsible for profit or loss.
Even sole traders doesn't have to pay due to low revenue. It is small scale type of business which
is operated by individual person without supporting of other business.
Partnership: It is easy to establish without requiring any formal paper work. It is operated
by two or more peoples (Surin and et.al., 2016). It is divided into two forms general partnership
and limited partnership. General partnership shares profit equally while limited partnership
controls overall operation which is performed in organization and shares profit to other person
who also involves in business.
Private limited companies. In partnership shares profit and losses by partners and creates
decision together within business structure. The main objective of partnership business to
generate high revenue by enhancing purchasing behaviours of customers. Another objective to
survive in competition market by offering good quality services to customer. Such kind business
offers services i.e. accounting, marketing, product development and training type services which
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are crucial to growth of small business. Even such kind business free from government control
and taxation services because they don't generate high revenue.
Private limited companies: It is privately type of small business in which shares limited
profit with partner. Organization has limited two shareholders who operate business. Thus, kind
business requires high investment to initiate organization. The main goal of the private limited
company to offer excellent services to customer. Even they offer incentives scheme and policies
for attracting employees so that best talent retain within company. The main mission of the
company to create sustainable growth that automatically generates high profit within company.
Private limited company offers wide variety services such as financial services,
management consultancy services and outsourcing services etc. There are several benefits
concludes easy funds raising and tax advantage (Stott, Stone and Fae, 2016). Government keeps
control on organization operations which is performed by employee within organization.
Interrelationships of the different organisational functions with organisational objectives and
structure
Organization functions are production, sales, marketing and R&D which plays important
role in business because it helps them to meet their objectives over the period. Each department
keeps close relationship with other departments to meet organization objectives. Such as:
Production: It is the main function of the organization which has goal to offer standard
quality product to customer so that they get values of their money. Production department
perform this function within company. It keeps close relationship with other departments such
as HR and marketing. Marketing department supports production department by giving
knowledge about customers reviews regarding product quality (Saleem, 2017). While production
department provides good quality product which gives values to customers money. Thus both
department works together and helps company to meet their mission. This relationship has some
drawbacks such as when marketer doesn't efficient to analyse customer needs and their
performances then unable to guide production department about product or services as result
doesn't get any improvement product or service quality that automatically reduces selling
behaviour of customers.
Marketing: It is another function of organization which is performed by marketer which
has main goal to improve product awareness between people. Additionally, it also supports to
build customers trust on organization product and their services. Marketing department uses
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various promotion tool i.e. advertisement, internet advertisement and celebrity endorsement for
upgrading brand image in business market. Marketing department keeps close relationship with
HR, finance and production department (Prajogo, 2016). For example marketing department
requires funds for promotion of product or services in business market where finance department
asks marketer about expanses on promotion. While finance department gives fixed budget to
marketer for promotion of organization's product or services in business market. Marketer has
objective to enhance selling behaviour of customers by building high trust of customers on
product quality. Thus both department relationship plays essential role within company. This
relationship has a drawbacks as well. For example when marketer requires more funds for
promotional activities in that state finance department resist to give extra funds as result conflicts
occurs among them. Additionally, marketer unable to promote product in fixed budget as result
doesn't meet company's objective.
Human resource management: HRM plays crucial role in organization because they
perform various functions such as planning, organizing, controlling and coordinating. Human
resource keeps closes relationship with other departments like finance department, production
department, marketing and R&D department. The main goal of the HR management to create
high profitability strategy within company which meets them to their objectives over the time.
Human resource introduces recruitment strategy by understanding needs of organization. HR
recruits best skills which suitable with job profile and helps other employees to achieve common
goal. For example marketer requires high productivity employees which supports them to
promote products or services in global market (Parboteeah and Cullen 2017). HR department
also organizes skill and development classes for employees so that they learn new skills and
apply it while dealing with task at workplace. Thus, HR supports other departments by offering
high productivity of efficient employees within company. Human resources sets goals for
company and implements strategy on the staff. While staff who perform different job
responsibility in different departments, sets their operation by following strategies. Thus overall
department supports human resource to meet defined objectives within minimum time. When
HR is insufficient to recruit right person for right job as well unable to implement strategy. It
automatically reduces working efficiency of other departments.
Organization functions links with organizational structure and objectives
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Every organization follows different organization structure such as divisional structure,
matrix structure and functional structure. Each structure posses different objectives within
organization. Such as-
Divisional structure: it is good structure which is applied by various organizations to
control overall departments. For example when organization has wide variety product line, in
that state requires division for each product line (Belas and et.al., 2018). To handle each product
line requires different functional groups such as marketing, R&D, sales and marketing.
Divisional structure not only helps company to enhance product portfolio but also builds good
relationship with other departments. It is strict divisional structure because each department has
different roles so they don't allow to communicate together about task complication at
workplace.
Matrix structure: It gives greater flexibility in organization functions rather than
heirarchial structure. In the structure, individual employee perform their job responsibility with
other department (Lim 2017). For example marketing and finance department works together
and supports company to meet their objective. It gives flexibility in organization's function on
the basis of organizationals needs. The major drawback of the structure is that chain of matrix
becomes conflicted when they and not controlled by senior authorities.
Functional structure: It is simplest structure which is also adopted by various business to
differentiate each function among various departments. In simple word, various functions are
assigned to each department and gives each type report to department managers. It is the simplest
organization structure because it gives clear line of authorities to each department manager to
command on their employees. While management sets overall task and their objectives and
implement on company. Functional structure permits each employee to focus on their particular
goals. It also posses a drawback is that each department can't communicate with other
department regarding their queries. Due to lack of communication unable to meet organization
objectives.
ACTIVITY 2
Pestle Analysis
Pestle analysis is a strategic management tool which is used to determine, evaluate,
organize and supervise macro environmental factors (Bashir and Verma, 2017). Macro
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environmental factors are demographical changes, legal, political and social condition such as
technological changes. Pestle analysis is basically used by various organization to analyse
external environment. Sainsbury is the 2nd largest chain of supermarket in UK which has aim to
offer high quality products to customer in return generate high income in company. Sainsbury
applies this model to analyse micro environment of company which is described below:
Political factors: Government policy, political stability or instability, employment law and trade
restriction are known as political factors which gives positive and negative impact on business
operations.
Positive impact: Sainsbury creates plan to enhance selling scale within supermarket in
UK. Where organization can get positive impact on this strategy because UK has political
stability from several year. So, organization doesn't have to pay high taxes while trading their
products in UK. It can lead financial profitability within company.
Negative impact: Brexit uncertainty is major environmental factor which can give
negative impact on business operation which manager assigns to department for meeting defined
objective (Kuula and Haapasalo, 2017). Brexit makes rule that when UK's company imports raw
material from neighbour countries, in that situation they have to pay high tax which
automatically enhance production cost. For example when Sainsbury will import raw material
for improving productivity of products then have to tax on input which enhance cost of product.
Company will have to sell their product on high cost as result buying behaviour of customer can
reduce. Thus, product selling operation can get negative impact by political factor.
Economical factors: it includes foreign exchange rate, tax rates, interest rate and inflation rate
etc. are economical factors which gives impact on organization operations such as:
Positive impact: Organization makes plan to offer products on affordable price so that
each type of customer can buy large number of product. Where UK has economical stability
which can give positive impact on this decision because company doesn't have to face foreign
exchange rate issue. As result it improves selling behaviour of employees at working place.
Negative impact: To promote productivity of product at workplace requires high
investment, so organization have to take funds from UK's government. Interest rate of UK is too
high which can reduce profitability of company. Thus, organization can get negative impact on
their decision.
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Socio-cultural factors: Demographical changes is micro environmental factor which also gives
impact on organization's decision.
Positive impact: Company makes plan to meet customer objectives by offering desirable
product. To get objectives HR assigns job responsibility to each department where marketer
plays essential role. They analyse customer requirement and their preferences and informs to
production department. Thus, overall department plays different role within company. So it can
interpret that demographical factor gives positive impact on business operation.
Negative impact: Organization gets negative impact as well by macro environmental
factor because each customer has different state which change according to time (Kasemsap,
2018). So organization have to change their products again which automatically leads
uncertainty in organization operations.
Technological factors: Technology development, new technology etc. are technological factor
and consider as micro environmental factor.
Positive impact: Human resource department makes plan to invest funds on R&D
department so that get high quality product services. Where E-commerce is new technology and
most famous in UK. Organization can get positive impact on their fixed decision because they
can sell high quantity product to customer. E-commerce technology not only meet current
friendly tech generation but also improves brand power in global market.
Negative impact: Continuous change in technology can create uncertainty for
organization's operation because it requires expert who can operate technology well-formed.
Additional it improves cost of product due to adaption new technology continuous basis
Legal factors : Employment law, consumer law etc. are consider as legal factor which also gives
impact Sainsbury operation.
Positive impact: Human resource creates plan to improve employee productivity at
workplace. Where organization can get positive impact on recruitment strategy because UK's
government has goal to reduce unemployment ratio (Cepel and et.al., 2018). Therefore,
government recruits various job vacancies for those peoples who don't have job. While
Sainsbury can get support from government because recruits job vacancies by HR. This
operation not only lead high productivity of employee but also enhance product demand among
the customer.
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Negative impact: Low wage act gives negative impact on this operation. According to act
organization can't recruit employee on law wage. It is good law for employees but gives negative
impact because HR can't recruit large number of employee at high wage.
Environmental factors: Environmental protection is macro environmental factor which gives
impact on organization operation.
Positive impact: Environmental factor enables company management to create a positive brand
image of company. Company promote eco friendly products in order to gain competitive
advantages in the target market with the support of environmental factors. Company is selling
organic products that enabled company management to expand the profitability.
Negative impact: Environmental factor also influence negatively the business operations of the
company. Company needs to engage with corporate social responsibility in order to engage with
the environmental factor that also causes to loss of the company related to the resources and
time. IT also restricts the company's innovation aspect as company management needs to make
decisions as per the credentials of environmental factors. All such aspects negatively impact the
business operations. Many timers due to environmental factor company face controversies that
also destroy the image of the company many times.
Porter's Five Forces Model
Porter's five force analysis is a competitive analysis tool which helps to evaluate the
strengths and weakness of business which impact the competitiveness in market. This strategic
framework helps to make effective decision to achieve core competency in market to increase
profitability and customer base effectively. This analysis help Sainsbury to determine all market
factors which impact the growth of business in market and also decrease the performance to gain
higher profit margins effectively.
Threat of New Entrants (High)
Retail industry is growing rapidly due to increase in demand of customers and changing
buying patterns this also increases the threat for Sainsbury of new entrants. As new entrants are
more innovative with effective technology to attract more customers. This can impact the pricing
strategies of Sainsbury and brand value as well (Wang, Fan and Wang, 2018). The threat of new
entrant in retail industry is high. Sainsbury can reduce this threat by innovating products and
services and adopting new technology to increase satisfaction of customers and making them
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loyal to the retail stores. This discourages new entrants de to lack of capital and experience in the
market to compete wit Sainsbury.
Bargaining Power of Buyers (High)
Customer is the king of the market which as all the products and services in retail
industry are directly sold to end consumers. Due to high number of choices in market this
increase the power of customers to reduces the prices of Sainsbury to survive in the market by
increasing sales effectively. Salisbury can reduce the power of buyers by increasing the large
base of customers and making them loyal to the company. Introduction of new product range in
the market will also help the Sainsbury to retain more customers effectively.
Bargaining Power of Suppliers (Low)
Retail industry has large number of suppliers in the market which reduces the power of
suppliers. However, there are many suppliers which provides essential raw materials and has
monopoly in the market. This can impact the profit margins of Sainsbury and reduce the
efficiency of the company to provide low priced products to attract more customers. Sainsbury
can reduce this threat by vertical integration in supply chain to gain better control and increase
profit margins effectively.
Threat of Substitute Products
There are many products and services which are available in the market and as the
competition is high in retail industry the threat of substitute goods is also increasing effectively.
Due to high innovation by competitors there are high chances in retail industry to increase the
threat of substitute goods in the market (Karimi, 2019). Sainsbury need to increase the position
of the brand perceived values by effective marketing campaigns and provide better prices
products to retain customers and increase customers base effectively.
Competition
As there are currently high number of potential retail companies in market which are
growing potentially and expanding in different markets to increase their sales and market share
in the market effectively. This increase the cut-throat price competition in market and impact the
profitability of Sainsbury. Due to reduction in the profit margins it also decreases the growth
opportunity of Sainsbury in different markets negatively.
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VRIO Analysis
VRIO analysis is an analytical tool which helps the business to understand strengths and
weaknesses of its resources to generate unique opportunities in the market to increase
competitive advantage effectively. Sainsbury uses this tool to analyse their resource in terms of
valuable, rareness, inimitably, organization effectively. This helps the business to develop
effective strategic management plan to increase the performance in market and increase
profitability effectively.
Valuable
In this factor the company analyses that key resources which are used in the business
increases the value to products. Human resources, technology, intellectual property and capital
are the main resources of Sainsbury which adds value to their products in increasing profit
margins effectively. Company also has to analyse all these resources to determine the efficiency
due to rapid change in trends of market which can impact the performance negatively.
Rare
Rare resources are those which are only available with few companies in the market to
increase the profit margins. These resources increase the competitive advantage in the market to
increase market share and brand value effectively. Sainsbury has effective human resource with
high skills and knowledge which helps the company to increase its value. Sainsbury also
implements effective technology which is very expensive and reduces the cost. These resources
are very rare in the market and also helps the company to achieve core competency in the market
effectively.
Imitable
Inimitable resources are those which have the potential to increase the value and it is
unique and specific company oriented. These resources increase the efficiency of the company
and it cannot be acquired by any other businesses in the market (Krishnapuram and Mondal,
2017). Sainsbury innovates their products and services and uses intellectual proprieties rights to
protect all the ideas and innovation which cannot be copied by the competitors. Sainsbury also
uses high end machineries and information system which can not be adopted by the competitors
as they are specially designed for the company's operations to reduce cost and increase profit
margins effectively.
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Organization
Organization is very essential as any resource do not increase its efficiency unless and
until it is used in effective manner to optimally utilize all its benefits effectively. Human resource
of Sainsbury is very effective in understanding all the resources and aligning them effectively
with the use of technology to achieve objectives. This helps to increase the core competency of
the company in market and increase the profit margins effectively.
VRIO Matrix
Valuable Rare Imitable Organization
Human Resource √ √ √
Technology √ √ √ √
Capital √
Intellectual
Property
√ √
SWOT Analysis
SWOT analysis is a tool which is used to formulate effective strategic planning of a
business in gain better information about all the internal and external factors. This tool helps the
business to identify all the strengths and weaknesses to achieve effective opportunities and
evaluate threats in the external market environment effectively. Retail industry is growing very
rapidly and with the increase in the demand of customers there are many change in trends due to
globalization which impact efficiency of products and services of Sainsbury and reduce the
opportunities to grow and expand business in new market to increase brand value and market
size effectively.
Strengths
 Sainsbury has effective technology which increases the efficiency of products and
services due to increase in the quality and customer satisfaction effectively (Charan,
2017). Automation of services also decrease the cost and develop effective economies of
scale to increase profit margins effectively.
 Acquisitions of Sainsbury has effectively increases the brand value of the company with
better market share to increase sales effectively.
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 Effective employees helps the company to formulate positive marketing strategies with
high market research capabilities to ensure high competency in market. Employees also
increase the customer engagement level to make them loyal to the company and increase
their satisfaction level effectively. Due to high brand value in market Sainsbury also increase their creditability in market to
acquire higher funding from investors.
Weaknesses
 Even though the company have effective capital support Sainsbury is not effective in
research and development as compared to market competitors (Vyt and Cliquet, 2017).
Sainsbury is also not efficient in investing in future to achieve market competition
effectively.
 Company is successfully in retail industry but failed to diversify its nature of business in
other industry due to lack of effective adaptation of organizational culture in the
organization.
 Low profit margins also reduces the opportunity for Sainsbury to expand in new markets
to increase its market share and sales effectively. Poor marketing techniques also lead to lower customer attraction in the store to increase
sales. This also increase its challenges of competition and survivability skills.
Opportunities
 Changes in environmental policies can help the Sainsbury to increase the sales of eco-
friendly products with government grants and subsidies.
 Increase in health consciousness of customers and eating healthy products provides an
opportunity to Sainsbury to increase sales of organics food products to increase customer
satisfaction and market share effectively.
 Sainsbury also have opportunity to invest in adjoining product segments which will
attract more customers to stores and increase profit margins of the company effectively.
 Recession and economic slowdown in the market can open an opportunity for Sainsbury
to increase the production units at lower cost and improve the cost efficiency. E-commerce is the latest market trends which provide better sales of products to
customers at their comfortable zone (Nguyen and Do, 2018). This also increases the
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opportunity of Sainsbury to increase loyal customers and their satisfaction with effective
online delivery services.
Threats
 New environmental policies can impact the sales of existing products of Sainsbury and
reduce the profit margins negatively.
 Sainsbury also has the high liability due to borrowed funding from investors to rum
business organization. Sainsbury has the threat of failure to repay the interest on time
which will impact the goodwill and brand image in the market.
 Increased potential of small retail companies due to innovation can also reduce the
customers base of Sainsbury and reduce the profit margins drastically (Sansone and et.al.,
2017).
 Rising demand to employees to increase the pay scale is also a big threat to Sainsbury as
this will increase the cost of the company and impact the profitability. Company can also
increase employees turnover.
 Increase in technology of competitors is also a threat for Sainsbury as it can impact the
business market of the company and reduce customer satisfaction and retention power
gradually.
TOWS Matrix
INTERNAL FACTORS
EXTERNAL
FACTORS
Strengths
 High Customer
Satisfaction.
 Innovative
technology.
 High performance
workforce.
 Effective financial
performance.
Weaknesses
 Low profit
margins.
 Ineffective
diversification
strategies.
 Inefficient in
research and
development to
increase
innovation of
products and
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services and
compete in
market
effectively.
Opportunities
 Product
Differentiation.
 Changes in
customer trends
and behaviours.
 E-commerce
store to increase
customer base
(Anzaldúa and
et.al., 2019).
SO
As company have the
strengths of innovative
technology which will
helps the company to
increase the efficiency of
e-commerce to increase
sales effectively.
WO
Sainsbury can adopt the
product differentiation
strategy to increase
profit margins by
retaining more
customers and
providing them with
effective variety of
products.
Threats
 High employee
turnover.
 Increasing
potential of small
retail companies.
 Increasing cost of
employees.
ST
With the help of effective
motivation strategies
company can reduce the
employee turnover and
retain potential workforce
effectively.
WT
Sainsbury can increase
the efficiency to invest
in research and
development and also
reduce the threat of
small retail companies
in the same market.
CONCLUSION
This report concludes that it is very important for any business to understand to size,
scope and vision to increase its productivity in market effectively. Report discussed
interrelationships between different department of the organization which helped to increase
efficiency of organizational structure to achieve its objectives effectively. This report highlighted
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different micro and macro environment analysis tolls to increase the productivity of business
organization in market to achieve competitive advantage and profitability effectively.
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