Impact of Business Environment on Retail
Added on 2020-02-05
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Business Environment 1
Table of ContentsINTRODUCTION ...............................................................................................................................3TASK 1.................................................................................................................................................41.1 Purposes of different types of organizations..............................................................................41.2 Extent to which Debenhams PLC meets the objectives of its different stakeholders................41.3 Responsibilities of Debenhams PLC and strategies to meet expectations of stakeholders.......5TASK 2 ................................................................................................................................................52.1 Nature of UK economic system and analysis of its affects on Debenhams PLC at the time of effective resources allocation...........................................................................................................52.2 Impact of fiscal and monetary policy on Debenhams PLC and its activities............................62.3 Evaluation of impact of competition policy and other regulatory mechanism on activities of Debenhams PLC..............................................................................................................................7TASK 3 ................................................................................................................................................73.1 Market structure which determine the pricing and output decision of businesses including Debenhams PLC..............................................................................................................................73.2 Market forces shape Debenhams PLC responses......................................................................83.3 Impact of business and cultural environment in shaping the behaviour of Debenhams PLC...8TASK 4.................................................................................................................................................94.1 Significance of international trade to Debenhams PLC.............................................................94.2 Impact of global factors on Debenhams PLC..........................................................................104.3 Evaluation of impact of policies of the European Union on Debenhams PLC.......................10CONCLUSION ..................................................................................................................................11REFERENCES...................................................................................................................................122
INTRODUCTION Business environment is a set of conditions for an organization in which it operate itsbusiness. It contains various external and internal factors that create both opportunities and threatsto the company. In the world of globalization, business environment play an important role inalmost all type of businesses (Haidrer, 2010). It assist the organizations to understand internal aswell as external environmental factors. It gives assistance to know more about economic system andmarket conditions. Business environment helps the firm's to properly understand the impact ofsocial, political, legal, economic development etc on the business. It provides a direction of growthto the organization and help in taking competitive advantages (Alcidi and Gros, 2011). The presentreport is based on business environment and for this, Debenhams PLC is undertaking. Objectivesthat will cover under the current study are organizational purpose of business, nature of the nationalenvironment in which business operate, behaviour of organizations in their market environment andsignificance of global factors that shapes national business activities. Organization backgroundDebenhams PLC is a British Multinational retail organization, operating in the formate ofdepartmental store in the UK and Ireland. It has also near about to 178 franchise stores in othernations. The products that offer by the company to he customers are clothing, household items andfurnitures. Debenhams PLC is listed on the London Stock Exchange. The following brand isrunning its business under licence market entry mode in 26 foreign countries. These are Bulgaria,India, Armenia, Jordan, Qatar, Russia, Romania, Saudi Arabia, Pakistan, Malta and others. Atpresent time, Debenhams PLC owns and operates 179 stores in UK, Denmark and Ireland. Stores ofDenmark are trading under the Magasin du Nord brand. Ireland stores are operating by DebenhamsIreland that is a subsidiary of the organization. The company run own retail websites in the Irelandand UK. Along with this, website can also be easily access by the customers on their smartphones.It also operates its mobile application which permit the end users to take experience of onlineshopping without visiting the outlets. Further, with the help of Bar Code Reader application,consumers easily get the complete information about the products by scanning products barcodes.Debenhams PLC also develops an international website that allows the customers across the worldto shop the products from wide rage of variety. There is also an important and unique facilityprovides by organization which is insurance of products and it is give under the brand name of retailfirm. In 2015, revenue of the company is £2322.7 million and net income is £93.5 million.Moreover, Debenhams PLC also run an loyalty card program for the end users where they can earnpoint at the time of buying of beauty and healthy products (About us, 2016). 3
TASK 11.1 Purposes of different types of organizationsThere are various types of business organizations working in the private sector of UK. Thepurpose of companies different from each other in terms of mission, goals and strategic objectives.The comparison between various types of organizations are as follows:Debenhams PLC: It is public related company of UK and it offers various products to thecustomers at the affordable prices. It serves across the world and it delivers good quality ofcommodities to the consumers. Mission: To deliver product to the customers on right time by giving value of money.Goal: To meet the consumer satisfaction level. Strategic objective: To increase market share, to expand the business in other nations. KFC: It operates its business on franchising concept where company gives authority to sellproducts and services as well as trade under the name of organization in a particular geographicallocation. It is world second largest chain of fast food and operate more than 120 outlets across theglob (Björklund, 2011). Mission: To sell food in friendly and fast environment that can able to appeal to buy theproducts by health conscious customers. Goal: To deliver good food for the consumers which can able to bring the smile of theirfaces, To meet customer satisfaction level. Strategic objectives: To increase market share percentage of fast food market, to improveexisting profit margins and to return right amount of dividend to the shareholders (Craig andCampbell, 2012). Transport for London (TFL): It is a local government organization of London that is responsibleto maintain transportation systems and infrastructure such as rail, road and air connectivity etc ofGreater London, England. It is a private limited organization. Mission: Creating value for customers by innovating and high quality solutions. Goal: Managing transportation services in entire London to deliver quality transportationservices to entire community (Galbreath, 2009). Strategic objectives: To optimize business processes, improve efficiency of systems andachieve attractive return on capital. 1.2 Extent to which Debenhams PLC meets the objectives of its different stakeholdersDebenhams PLC is having four major stakeholders: customers, employees, government andsuppliers. These all there connects with the organization with different purpose. Company allows its4
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