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Business Environment of Burberry

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Added on  2020-01-07

Business Environment of Burberry

   Added on 2020-01-07

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Business Environment of Burberry_1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................3(a) Purpose of Burberry along with the purpose of any other organization................................3(B) Extent to which Burberry meet the objectives of stakeholder...............................................4(C) Internal and external responsibilities of Burberry.................................................................5Task 2...............................................................................................................................................6(a) Economic system helps in allocation of resources in mixed economy..................................6(b) Importance of fiscal and monetary policy along with its impact on Burberry ......................6(C) Impact of competition policy and other regulatory mechanism on global activities ofBurberry ......................................................................................................................................7Task 3...............................................................................................................................................8(a) Determination of price and output decision of Burberry and other organization by marketstructure.......................................................................................................................................8(B) Determination of how market forces shapes response of Burberry.....................................8(c) Cultural and other business environment shaping behavior of Burberry...............................9Conclusion ......................................................................................................................................9References......................................................................................................................................102
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Illustration IndexIllustration 1: Power/Interest grid of stakeholders ..........................................................................53
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INTRODUCTION In the present scenario, activities and operations of an organization directly gets affectedby the kind of business environment in which it operates. Furthermore, in order to survive inmarket, firms are required to take care of their changing business environment (Bansal, 2012).External environment forces, competition policy, regulatory policies etc. are some elementswhich have direct impact on overall performance of a business enterprise. The present report isbased on Burberry which is the UK based luxury fashion retailer. The study depicts purpose ofthe organization behind carrying out its operations. Along with this, it also highlights the impactof fiscal, monetary and competition policy on Burberry. TASK 1 (a) Purpose of Burberry along with the purpose of any other organizationThe main purpose of Burberry is to provide people in market with innovative and uniqueoutwear. Every organization operates in business environment with its own set of purpose andobjectives. Some seeks for getting high market share and profitability whereas some businessoperates with purpose of achieving efficient degree of customer satisfaction. It can be stated thatBurberry always looks forward to provide innovative products to all its customers. For example;new raincoat developed by brand has gained attention of people because of its distinctive qualityof water resistance feature (Ekins and Lees, 2008). There are different types of organizationssuch as sole traders, private organizations, public organizations, partnership firms etc. The goalsand objectives of each business can be different from other. For instance; private organizationsoperate with the purpose of providing the best quality of products to customers at very nominalprices. Therefore, to a certain extent, these businesses stop private firms to charge inappropriateprice against their products and services. On the other side of this, organizations such as non-profit operate with the purpose of carrying out welfare and development of society and people(Sloman, 2007). It can be argue that even purpose of private organization differs from oneorganization to another. For example; Marks and Spencer which is an international clothing andfood retailer operates with a purpose of becoming the most sustainable multinational retailer inthe industry. In the current scenario, Burberry is considered as a forefront of innovation and4
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