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Business Environment Assignment - Mark & Spencer

   

Added on  2020-10-05

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BusinessEnvironment
Business Environment Assignment - Mark & Spencer_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................11. Analysing current environment influences.........................................................................12. Analysing internal business environment using value chain model...................................33.Explain appropriate adaptations that firm could undertake in response to the externalbusiness environmental forces................................................................................................64. Reflection of Porter's Five force model analysis................................................................7CONCLUSION................................................................................................................................9REFRENCES.................................................................................................................................10
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INTRODUCTIONBusiness environment refers to all internal and external factors that influence a particularorganisation function including employees, customers, management, supply and demand ofbusiness. For an effective and successful business business environment components isnecessary because it help in attaining goal and objective in appropriate manner. Generally,business environment deals with internal and external factors affect a particular organisation infunctioning, performing and decision making process of a firm (Chesbrough, 2010). In thisreport the organisation chosen is Mark & Spencer, a British multinational retailer headquarter inWestminster, London. Products and promotional techniques of respective company help themin enhancing their business in global market. This assignment is going to analyse porter's fiveforces model and value chain model to identify the current environmental influences on Mark &Spencer. It will also cover appropriate adaption that help respective organisation to response inexternal business environment forces. Furthermore, identifying reflection on Porter's five forcemodel in understanding business environment of an organisation and describing its potentiallimitation.TASK1. Analysing current environment influencesBusiness environment consist of individual's , institution and other forces that control of abusiness enterprise. It also depend upon the effect of overall performance and sustainability of abusiness. The combination of internal and external factors are influencing each other and worktogether to affect a business. Herein, Mark & Spencer has implemented Porter's five forces toidentify internal business environment of their organisation (Chow and et. al., 2011). Porter's fiveforces model is refers to a technique which is use to identify competitors of a business at aparticular marketplace. By identifying competition an organisation able to develop and createstrategies and plans accordingly. So respective company use this model by which they able toidentify their competitions at a marketplace. Description of respective model in context ofMarks and Spencer is given below:- Threat of new entrants: By this force an organisation can identify that how easy is toenter into a particular sector or industry. If a particular industry is profitable and there is very fewbarriers at the time of entry, then in this case threat of new entry is high. Their are other various1
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