Business Environment Assignment - Burberry
Added on 2020-10-05
12 Pages3170 Words256 Views
Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK ..............................................................................................................................................11. Examine The Management Structure And The Governance Of Burberry..............................12. Assess The Importance And Evaluation Of The Effects Of External Environmental FactorWhich Influences Burberry.........................................................................................................6CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10
INTRODUCTIONBusiness environment refers to demand, supply, customer need, customer satisfactions,management, changes in technology, current and future trends. Management is a means tomanage process of organisation by cooperating employees and managers. Present study layemphasis on Burberry. It is a PLC group fashion company which provide luxurious products likecloths, dresses, cosmetic products. Its headquarter is in London (Weston, 2016). This reportevaluates the management and organizational structure of Burberry including its history. Itexplains how company is governed by its Board of Directors. It examines environmental factorsthat influences company by Pestle analysis and why is it important for company.TASK 1. Examine The Management Structure And The Governance Of BurberryOverview Of BurberryBurberry Group PLC is a fashion house. It was founded in year 1856 by ThomasBurberry at London. Its headquarter is in London, England. It is globally leading company inFashion industry. Its business is to design and sell trench coats, ready to wear outerwear, fashionaccessories, fragrances, sunglasses and cosmetic. It has 500+ stores in 51 countries at worldwidelevel. Its revenue in 2018 was£2,732.8 million. Its Operating and Net income was £410.3million and £293.6 million respectively in 2018. Its first online selling was in the US in 2006. Inyear 2004, Burberry opened its own website. Burberry Group PLC are divided into 3 divisions -Burberry Prorsum, Burberry London and Burberry Brit. The company employs 10000+employees. The company is set to grow with increased revenue and become popular with ready-made attires (Zozulya and et.al., 2015). History Of BurberryBurberry Group PLC was founded by Thomas Burberry in 1856 by opening a store in theHay-market area of London. Till 1870, it was established by making outdoors attire. In 1879,Burberry introduced Gabardine made clothes which make Burberry a little famous. In 1888,Burberry patented gabardine so that another companies can not use it. In 1891, Burberry opened a store in Hay-market, London. In 1901, Burberry madeBurberry Equestrian Knight Logo and trademarked it 1909. In 1911, Burberry gained popularityby supplying rugged outdoor attire. In 1914, during world war 1, Burberry trench coats was worn1
by British officers. After war, these coats became famous and it made Burberry more popular atworldwide level (The History of Burberry and Its Famous Fashion Comeback, 2019). In 1955, Burberry was acquired by Great Universal Stores till then Burberry was ownedby Burberry Family. During 1970 to 1990, Burberry did collaboration with many textile makersto produce ready-made attire for Men, Women and Kids. Also, during years, Many famous starsand celebrities started wearing Burberry which plays an important factor to becoming Burberry aunique brand. In 1999, The company changed its name from Burberry's to BURBERRY. In 2006,Burberry starts its first online store in US and then UK. In 2013, Burberry introduced “see-now-buy-now” allowing customers to buy collection from online shopping site and through mobile(Nguyen and Bug, P., 2016). Organizational Structure and Management of Burberry Burberry follow functional based hierarchical organizational structure in which companyis govern by Board of Directors. In hierarchical organizational structure, Burberry functions are divided into tasks.According to the nature of tasks, jobs are created. These jobs are converted into Departments.Then Burberry hires Chief Officer for every departments. Under the chief officer, vice president,general manager, design director, employers, supervisors, leaders and employees are hired. Theyare those people who are specialized in particular field and they are given job according to theirskills, knowledge and experiences in that field (Jensen, 2017). In this structure, whole organization is working at the basis of power of authority inwhich top management and chief officers make decision or policy or strategy and communicateto the middle management team. Middle management team implement those decision, policy orstrategy and communicate to the front line manager and employee representative. Front linemanager and employee representative work on that decision, policy or strategy. If they face anyorganizational issues regarding decision, policy or strategy or they need to reporting then they goto middle management team who then go to top management team. Like this, Managementprocess is handle by everyone at their level with their works, powers, roles and responsibility(Zhou and et.al., 2018). Currently, in Burberry Company, there are 11 directors on boards, in which 7 are non –executive directors and 4 are executive directors. Both Chairman and CEO are elected by2
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