Report On Business & Cultural Environment Of Primark
24 Pages5126 Words148 Views
Added on 2020-02-03
Report On Business & Cultural Environment Of Primark
Added on 2020-02-03
ShareRelated Documents
UniversityBusiness EnvironmentByDateNameLecture’s Name
Business EnvironmentContentsTask1...........................................................................................................................................................31.1 Identification of organisation Primark and discussion of its purpose................................................31.2 Description of the extension to which Primark meets the objectives of its different stakeholders...51.3 Explanation of the responsibilities of Primark as an organisation and the strategies employed to meet them...............................................................................................................................................6Task2...........................................................................................................................................................82.1 Research and explanation of the type of economic system operated in the following countries.....82.2 Assessment of the impact of fiscal and monetary policy on the following type of businesses..........92.3 Competition policy and other Regulatory policies in the United Kingdom......................................10Task 3 – Essay..........................................................................................................................................123.1 Explain how pricing and output decision of business is determined in the following market structures..............................................................................................................................................123.2..........................................................................................................................................................133.3 judge how the business and cultural environment shape the behavior of a selected company.....15Task4.........................................................................................................................................................184.1 The significance of international trade to UK business organizations..............................................184.2 Analysis of the impact of global factors on UK business organization.............................................184.3 evaluation of the impact of the policies of the European Union on UK business organization.......20References.............................................................................................................................................23Page 2 of 24
Business EnvironmentTask11.1 Identification of organisation Primark and discussion of its purposePrimark is the company which is the supplementary company, linked with the Associated BritishFoods Group or ABF Group. In the year of 1969, the company was established in Ireland which was trading by the name Penny's. Primark which is an organisation of private sector trades on general accessories(Berry, 2004). The company, Primark has been expanded itself today that by the year of 2000, the company has enlarged its wings at Britain and Ireland over hundred stores. By the year of 2012, the company has enlarged its branches all over Ireland, United Kingdom and Europe; the number of branches they have got still is more than 238. The company does not go through so much expense which returns to them as a portion of the profit. The offerings of Primark become so evaluative that consumers of this company never lose such interests upon it. Besides this, the company has the most inventive factors which may appreciate by the consumers. As Primark has got its own retailing business, the company does not make their production house. The company makes dealings with its suppliers and the productions of the materials are named as the product of Primark, this is what the retailing business deal with. The products supplied by the company are specifically coined as of Primark. By this total procedure, Primark helps itself to work with proper goods at the right place at the market with proper prices.The profitability of Primark enormously depends upon the sales' sheer volume. Beside all these things Primark maintains is the value or price-oriented job by the term of very low cost so that the company runs on profit; the costing price of production get lower so that lowering of price does not get effective to the company as well(Bubonia et al., 2012). All these protocols and decorum are followed to make a record upon the working rate, economic valuation of the Page 3 of 24
Business Environmentcompany and the distribution which has done efficiently. Primark works internationally, its most of the business lie upon Europe and Asia; the key resources of suppliers the company gets from Turkey, China, Bangladesh and India. These are those main countries from Primark used to get its suppliers and resources. For providing better quality products, Primark uses to consult with worldwide international experts, international organisations and surrounded partners too. As the company manufactures their products in these countries, the countries get the help of having the job at these manufacturing sites(Carlsson, 2014). Thus Primark helps their consumers and employees in many ways and ultimately gets maximum profits for itself though it never deprives the customers of getting their benefits as well. Identification and discussion of the purpose of the following categories:a)The public sectorPublic sector organisations help the customers and consumers by the devotion of workingtowards them. These organisations must have to follow specific rules, legislation of government as well as some other code of conducts. The organisations have got so many differentiated sectors where are different managements to follow up. Such sectors are differentiated as Human Resource Management, Market Development wing, Market Research management, production development sectors and much more(King and Cruickshank, 2010). Such organisations are mean to serve the people by many says; public sector organisation may be a part of the government which means the public sectororganisations are here to serve the public which may sometimes without benefits and profits.b)CharityPage 4 of 24
Business EnvironmentThe organisations which work over charitable programs such as the child labour movement or some orphanage are meant to say as a Charity organisation. Charitable organisations are more similar to the non-profitable sectors; in most of the cases, these organisations do not follow with the workings upon profitability only. Some nongovernmental organisations also work with these kinds of job specifications. A charitable organisation is more over a non-profitable organisation or in some cases government organisations too. The charity institutes are based on the educational sectors, public welfares, religious, and it may work in different sectors, or it may be a total foundation of a charitable organisation(Kramar, 2013). c)CooperativeCooperative organisations are something different where the people work for their organisation as well for themselves. At these kinds of a company, the amount of profit which may gain through heavy work is distributed among the employees rather the employees run the organisation. Cooperative units are a different kind of business organisation which makes money using their services, gain profit up to a specified saturation level and earn profits. There are neither such authorities nor the organisations work for some other foundations. There are such basic points at these types of sectors thatthe employees work here for themselves and gain the profit on their own(Meijerink, Bondarouk and Lepak, 2015). 1.2 Description of the extension to which Primark meets the objectives of its different stakeholdersPage 5 of 24
Business EnvironmentThe most important thing for the Primark at their business is that the company runs the business in a proper ethical way so that there are different stakeholders and suppliers of the organisation through the whole world(Tinari and Betz, 2013). There are many more stakeholders, and Primarkfollows a definite way to continue the business with them; thus Primark uses a Community Engagement of program at India. Primark uses different channels to communicate with their various stakeholders. As the ethical business runs the company smoothly also follow some other criteria to maintain the business relationships with their stakeholders. This initiative has taken bythe organisation since 2006. It is a long chain of the non-governmental organisation, trade unions, and over 60 organisations. Primark visited the movement regarding Better Work Partnership since 2010, and it has made the organisation with a new banner. Use of civil society for evaluating the work functioning. Maintaining a trade union which always helps the organisation to be beneficial for the company. Primark works with their stakeholders in different ways so that it maintains the reputation of the company and serves it by its way(Vuorinen, 2009).1.3 Explanation of the responsibilities of Primark as an organisation and the strategies employed to meet themThe reputation of the organisation, Primark comes by the way it serves its customers and consumers by its way, but it has to be accepted that the company maintains the quality of its products and also with that maintain a good relationship with its consumers as well. Primark is always supplied high quality of materials as well it always makes an observation over its factories that these factories should have to be eco-friendly so that the production of the company also becomes of high and good qualities. The costing prices of the products’ raw materials are lowered by Primark so that they can offer products to its customers at a very low Page 6 of 24
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Type of Organisation and Its Purpose Report - Primarklg...
|16
|5365
|45
Business Environment- Purpose of Different Organizationslg...
|14
|4927
|229
(P16) Business Environmentlg...
|14
|4861
|160
Business Environmentlg...
|14
|4603
|164
The meaning and importance of business environmentlg...
|17
|6411
|73
Primark Business Environment : Assignmentlg...
|18
|5664
|162