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BUSINESS ENVIRONMENT TABLE OF CONTENTS

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Added on  2020-10-05

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BUSINESS ENVIRONMENT TABLE OF CONTENTS INTRODUCTION 1 TASK 11 1.1 Identifying Primark’s organization type and its purposes 1 1.2 Ways through which Primark meets the objectives of its stakeholders. 2 1.3 Responsibilities of Primark and strategies to meet them3 TASK 23 2.1 Economic systems help to allocate resources of the entity.3 2.2 Impact of the fiscal and monetary on housing and farming firms 4 2.3 Five competition policies and regulatory mechanism in UK which impact on Primark 5 TASK 35 3.1 Pricing and output decisions

BUSINESS ENVIRONMENT TABLE OF CONTENTS

   Added on 2020-10-05

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BUSINESS ENVIRONMENT
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Identifying Primark’s organization type and its purposes.....................................................11.2 Ways through which Primark meets the objectives of its stakeholders................................21.3 Responsibilities of Primark and strategies to meet them......................................................3TASK 2............................................................................................................................................32.1 Economic systems help to allocate resources of the entity...................................................32.2 Impact of the fiscal and monetary on housing and farming firms........................................42.3 Five competition policies and regulatory mechanism in UK which impact on Primark .....5TASK 3............................................................................................................................................53.1 Pricing and output decisions help in determining the market structures..............................53.2 Way by which market forces shape the organisational responses .......................................63.3 Cultural and the business environment is shaping the behaviour of the Primark.................7TASK 4 ...........................................................................................................................................84.1 Significance of the international trade to the Primark .........................................................84.2 Impact of the global factors on Primark................................................................................84.3 Impact of policies of European union...................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONBusiness environment refers to collection of internal and external factors which affectsthe operations of entity. Factors included under this are clients, competitors, owners and manymore. This helps in identifying business opportunities of gaining of market share of entity. In thisreport company is taken as Primark. Primark is supportive company of ABF Group. This waslaunched in 1969 in Ireland. This company is dealing with retail fashion store and unlike otherstores of this entity is not manufacturing goods itself. This organisation is selling the products atlow prices for grabbing market share. This Report covers type of entity Primark is and itspurposes. Further, it covers the way by which Primark is meeting objectives of the stakeholders.It will discuss the responsibilities of Primark and various strategies used to fulfil them. Lastly, itcoll study the economic system followed by Cuba, United Kingdom and China. TASK 11.1. Identifying Primark’s organization type and its purposesPrimark is private company and these type of entities has no control of government.Liability of the company is limited to its shares. Minimum members in entity are 2 andmaximum are 200. Paid up capital is restricted to 1 lakh. Directors of the entity is 2 and not morethan that. In case of death, bankruptcy, insolvency company keep on existing. It is compulsoryfor private company to use limited after its name of business. Shares of the private companyshares are transferred by private agreement. Purpose includes: Aim and Objectives of PrimarkThe main goal of entity is to provide quality products to consumers. This company ispopular because of providing products at cheap prices. This entity is offering wide variety ofproducts at reasonable prices and this is helpful in grabbing large market share. This organisationis very helpful towards staff and the customers. By this entity want tpublic to think that ,thiscompany is very friendly and this will attract consumers to the shop from this store.ProfitabilityLast year profit generated by the Primark in retail business is approximately 7.1 billionpounds. From last eleven years of profitability position of business has growth of 5.5 billionBritish pounds (Kljucnikov and et.al., 2016).Corporate responsibility1
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This company is following the CSR activities which is helping the entity to fulfil theduties towards society. Implementing these activities in the entity help in creating good image infront of society and market. Public SectorThis company had most of the involvement with the government. These companies haveto raise the funds by selling shares of stock. This organisation has the number of member in theentity is 25 and maximum 50. Shares are listed in the SEBI. These companies have the securitieswhich is owned by public via capital market. Ownership of the entity is shared by shareholders,board, management and public shareholders. Purpose of public company is to conduct activitiesfor the welfare of employees which help in making good image in market. For example, there aremany companies which are operating in UK are London stock exchange, British petroleum andBlueberry group PLC.1.2. Ways through which Primark meets the objectives of its stakeholders.There are various stakeholders in the business which hadthe diverse need of the entity. Itis helping company in fulfilling demands of the customers. Stakeholders are persons who areinvolved in company with means of their work. Stakeholders include investors, employees,lenders, suppliers, customers, government and public etc. (Prajogo, 2016). Investors - These are the person who take risk in investing in the company. By providinginformation to investors company is fulfilling responsibilities towards them. They needinformation to find the capability of entity for sake of dividend. Most decisions are taken byPrimark to please investors because they are one who are investing in entity. Employees- Company is providing all benefits to employees like remuneration,retirement and many more. It is one of way via Primark is meeting objectives of employees.Company is taking care of the all the needs which they require for their development. Suppliers and trade creditors - With help of suppliers Primark is meeting need of theraw material. Suppliers needs information of entity for determining the amount which are owedby them when due. Creditors of entity requires information about the company because they areinterested in company for a shorter period than lenders until they are dependent on enterprise asmajor customers.2
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