Primark Business Environment : Assignment

Added on - 23 Jan 2020

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BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Identification of Primark and its purpose..............................................................................11.2 Extent to which Primark meets the objectives of its different stakeholders.......................21.3 Responsibilities of Primark as an organisation and the strategies employed to meet them.3TASK 2............................................................................................................................................42.1 How economic systems attempt to allocate resources effectively.......................................42.2 Assessment of the impact of fiscal and monetary policy on business organisations andtheir activities..............................................................................................................................52.3 Evaluate the impact of competition policy and other regulatory mechanisms on theactivities......................................................................................................................................6TASK 3............................................................................................................................................73.1 How market structures determine the pricing and output decisions of businesses..............73.2 The way in which market forces shape organisational responses........................................83.3 How the business and cultural environments shape the behaviour of Primark.....................9TASK 4..........................................................................................................................................104.1 The significance of international trade to UK business organisations...............................104.2 Analysis of the impact of global factors on UK business organisations.............................114.3 Evaluate the impact of policies of the European Union on UK business organisations.....11CONCLUSION.............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness Environment consists of number of elements which can affect operations of abusiness. It includes all internal and external factors that affect entity and its operations.Businessenvironment is a collective name of various stakeholders like employees, government, suppliersand shareholders etc. In this report it has been discussed that how these elements of businessenvironment affect the operations of companies like Primark which is the subsidiary organizationof Associated British Foods Group. It's having a good growth from last few years. It has 238branches across UK. As other fashion retails chains, Primark also outsource its goodsrather thanmanufacturing it by themselves. So it has various parties which can affect its operations.Furtherthis report also mentions and explains BREXIT. The word BREXIT is used for the prospectivewithdrawal of UK from European Union.(Chavis, L.W., Klapper, L.F. and Love, I., 2011)TASK 11.1 Identification of Primark and its purposePrimark is an Irish retail company.Primark has branded as Penneys in ireland. It deals inretailing of clothes. Primark has its headquarters situated at Dublin. Associated British Foodis the parent company of it which makes Primark its subsidiary company. Primark offers awide range of clothing products. It sells fashionable clothes for every generation. Other thanclothing, Primark also deals in the footwear and accessories. It has more than 290 storeslocated in UK. This company has been with other top fashion brands like ZARA and H&M.It has a policy to sell such products at a very low price which helps in achieving the marketshare. As low price with high quality is the only thing which a customer wants and primarkis offering them what they want and is providing them the immense satisfaction.(Chow, A.Tand et.al., 2011) The purpose of company includes the following:To offer the products and services which its customers wants.To provide them with products at a lower rate so that they can easily afford them.Drafting strategy to increase the profit of company so that it can propose a good amountof dividend for its shareholders.(Commander, S. and Svejnar, J., 2011)Further, company wants to maintain every aspect so that it will be helpful in case ofhighly competitive market.(Fernando, A.C., 2011)
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