Impact of Business Environment Factors on Departmental Store in UK Business

Academic Essentials

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Impact of business environment factors on departmental store in UK business.........................3
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Business environment refers to all those elements which can affect the business decisions
and operations. It is very important for the organisations to monitor and evaluate these factors so
that necessary and quick remedial solutions can be adopted for the business growth. This might
be also involve is the better factor with the external business firm and that might be greatly
functioning to the organization. While this kind of activities will help the organization for
working with having the better business firm and also make sure for having factor and various
forces that could cover some of the better things in organization. The environment have the sum
or collection about the internal and external factors such as customer, employee, management,
suppliers, owners, activities or government, technology, social and market trends, culture,
political, legal changes, economic changes etc (Laszlo, Cooperrider and Fry, 2020). While this
factor could affect the company with how they directly or indirectly can make their interactions.
The report will explain about the industry department store in the UK. Therefore, this report will
examined about the PESTLE framework and how their factors are being affected in business
environment and their impact over through having department stores in UK.
MAIN BODY
Impact of business environment factors on departmental store in UK business
PESTEL analysis is defined as a framework which consist various business environment
factors which are not in control of organisation but which can have critical implications for the
firm’s performance. Thus while formulating any business strategy related to growth, competition
and operations departmental store conduct a PESEL audit so that it can correctly and wisely
utilise its resources and decisions. The wide success and global expansion of various stores has
been affected by elements of this framework which are discussed below:
Political:
Political forces and decisions have significant impact upon organisational operating
decisions and mechanisms. UK being the chief operational region of departmental store also go
in hand with other foreign locations in which many stores has successfully developed as brand.
The most prominent feature of modern day political factors is free trade across various countries.
The free trade regulations also benefit to various departmental industry in UK and allow it to
import foreign products (Duan, Cao and Edwards, 2020). This make it possible for the
organisation to provide products and services at low cost and to withstand fierce price wars