Business Environment of Primark- Report

Added on -2020-02-05

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Businesses Environment
Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Types of organisation and their purpose..........................................................................3
1.2 Extent of PRIMARK to meet objectives of stakeholders.................................................4
1.3 Responsibilities of Primark as organisation and strategies to meet them........................5
TASK 2............................................................................................................................................6
2.1 Different types of economic systems in different countries.............................................6
2.2 Impact of fiscal and monetary policy...............................................................................7
2.3 Competition policy and their impacts on the organisation...............................................7
TASK 3............................................................................................................................................8
3.1 Pricing and output decisions for different types of markets.............................................8
3.2 Market forces shapes organisation response....................................................................9
3.3 Business and culture environment shape the behaviour of a organisation.....................10
TASK 4..........................................................................................................................................11
4.1 Significance of international trade to UK business organisations..................................11
4.2 Impact of global factors on UK business organisations.................................................12
4.3 Impact of European Union policies on UK business organisations...............................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
INTRODUCTION
Surroundings of an organisation is having effects on the business activities and making a
compulsion factor for them to make modifications in their actions(Kelliher and Bernadette
Henderson, 2006). Adoption of environmental factors can makes organisations better for
competition available in the market. External and internal are the part of an environment. Internal
environment is a part of an organisation and they can make their control on it. Another is
external which works like a force on the company. This report is having focus on the PRIMARK
which is deals in the clothings. They are having their suppliers in the ASIA and EUROPE, so
they are having huge impact of business environmental factors like; political, economical, social
and technological. So they have to make changes in their organisation and make regular
development in their organisation according to these. Organisations are having different business
structures like; partnerships, public sector, charity and cooperative and they are having difference
in their businesses surroundings. Stakeholders are having a huge impact on the internal business
environment and the company have to manage their stakeholders to manage proper internal
environment of work(Technology, 2008). Each nation is having their economic system which
makes a direct influence on financial activities of PRIMARK and as cited business entity is
working in the international market they have to aware about economical systems where they are
working and having their affairs. Company have to adopt different price strategies for different
types of market. This report is having different types of organisation and economical systems of
different countries.
TASK 1
1.1 Types of organisation and their purpose
Primark, an Irish company is a private organisation which started in Dublin and deals in
fashion clothing. It started as Pennys but had to change it's name to Primark when it expanded
outside the country as another company was operating under the same name already.
As a private company, it is not listed on any stock exchange for trading and it's shares are
not open for public trading unlike public companies. It only has a few shareholders who are it's
members and securities are also held by only a few members(Kang and Han, 2008). The main
purpose of a private organisations are profit generation but Primark provides good quality
products at the lowest prices possible for all the people to buy their affordable goods. They even
perform different test checks for the quality of the products before selling.
a) Public Sector Company; A public company is the one which offers it's shares to public for
trading and they are considered as owners of the company. Bromfield school can be covered in
public sector which is providing education to pupils. The main purpose of this organisation is to
education to each and every child in the UK which is their right, they are having excellent
teachers which is providing best education.
b) Charity organisation; Save the children is a NGO working for the child rights and providing
relief and help in the developing countries(Johnson, Lenartowicz and Apud, 2006). It was
initially started in London during World War I to help the children starving in Germany and
Austria. It even worked through World War II in Europe for malnourished and refugee children.
Charity organisation is having single purpose of social services.
c) Cooperative organisation; The Royal London Mutual Insurance Society Ltd. Is the largest
mutual insurance company of the country including it's subsidiaries. Cooperative organisation is
having purpose of mutual concerns of cooperative members. It started as a friendly society to
serve the interest of it's members. In 1908 it became a mutual life assurance society and today it
has become the largest insurance company in UK and giving products protection in Ireland.
1.2 Extent of PRIMARK to meet objectives of stakeholders
This essential to fulfil the expectation and objectives of the stakeholder by making
decisions in the PRIMARK. Stakeholders the part of the organisation and they are having their
own interest in the company(Johanson and Vahlne, 2009). These are having direct effect from
the company and changes done by them. Stakeholder can be divided in the two part internal and
external and these both are having their own objects in which PRIMARK is making help to
attain;
Customers; PRIMARK is dealing in the clothing and home ware products, they are having a
large range of it. Consumers are having a huge impact by making changes from PRIAMRK in
the products. Most of the customers wants fully completed and errorless products, this is the
responsibility of the company to make these types of clothes which is made in superior quality
and having perfect fitting in each sizes. So whenever company is making changes in their
products they have to make their focus on the customer and their demands. They can help by this
act in attain customers objectives by their efforts(Gardner and Laskin, 2011). Customer wants

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