Supply Chain Risk Management and Business Models

This assignment examines the complex interplay between supply chain risk management and evolving business models. It delves into identifying key risks within supply chains, analyzing research advancements in mitigating these risks, and exploring how sustainable business models can contribute to managing these challenges. The discussion also touches upon the importance of adapting business models to a changing online environment and incorporating environmental analysis for informed decision-making.

Business EnvironmentTable Of Content
Business EnvironmentTable Of Content.........................................................................................2
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
1.1..............................................................................................................................................4
Types of company with purpose...............................................................................................4
1.2..............................................................................................................................................5
Objectives of Stakeholders to be attained by Primark..............................................................5
1.3..............................................................................................................................................6
Responsibility of Primark and strategies employed to meet.....................................................6
TASK 2............................................................................................................................................7
2.1..............................................................................................................................................7
Different Economic System......................................................................................................7
2.2..............................................................................................................................................8
Monetary and Fiscal Policy......................................................................................................8
2.3..............................................................................................................................................9
Competition Policy...................................................................................................................9
TASK 3..........................................................................................................................................10
3.1............................................................................................................................................10
Pricing and Output Decision in various Markets....................................................................10
3.2............................................................................................................................................11
Market Forces Shaping Organizational Response..................................................................11
3.3............................................................................................................................................12
Business and Cultural Environments shaping Organization...................................................12
TASK 4..........................................................................................................................................13
4.1............................................................................................................................................13
Significance of International Trade in UK business Organizations........................................13
4.2............................................................................................................................................13
Impact of Global Factors on UK business Organization........................................................13
4.3............................................................................................................................................14

Impact of EU policies on UK business Organization.............................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................15

INTRODUCTION
Business is considered as one of the most important activity in today’s scenario. It has been seen
that there are many business organization established in country and in order to established as a
successful organization, it is very important to inculcate business environment in a company. It is
refereed to combination of internal and external factors which prevailed in operating
system(Wild, Wild, and Han, 2014). There are various kinds of factors which shall be included
in business environment such as government activities, sale and purchase of goods. Trends like
social and economic which will be prevailing in a company. A key principle of a successful
organization is to bring a healthy and effective business environment which will introduce new
technology and improvements in company. The following project shall create a better
understanding on various chapters to be covered in business environment. The main aim of the
project is to develop a skillful knowledge about same.
TASK 1
1.1
Types of company with purpose
There are various kinds of company which has been established. A structure comprises with
legal frame work will define about what kind of company it is for are example there are private
companies, public companies, voluntary organization or public limited company(Moutinho,
2011).There are numerous kinds of company established in world which are governed by
different structure for an example, Primark is one of the famous company which is structured as
Public limited company. The organization deals in retailing business of Irish clothing and
incorporated in 1948. Primark Own over 290 stores all over the world of which 177 is owned by
UK. The main purpose of the organization is to provide consumer service in terms of clothing,
footwear and accessories. Primark is a public sector organization that offers superior quality
products for ts business consumers. In financial year 2015-2016 company earned net revenue
worth $ 4383.79 millions. Gross profit of the organization was $ 338.736. Total 68000
employees are working with the organization. Company offers home-wear, accessories, women's
wear, clothing and footwear products. Primark deals with wide range of product which will
include women’s wear, men’s wear, beauty Product, confectionery etc. Monopoly of this
company is to sell any item as low cost end of the market below average price.

Other then this there are many organization fall into different categories and those are:-
The Public sector- it can be explained as the company whose stocks are publicly traded. In this
type of company, most of the services are provided by government that is there shall be
continuous interference of government regarding activities carried out in these types of company.
For an example crown prosecution service is governed by public sector as some of its services
are governed by government. The purpose of this company is to sell its share to public(Lankes,
2011).
On the other hand The co-operative bank is a cooperative organization that works across UK. It
is a retail commercial bank that offers financial and banking services for its business clients. net
operating income of the bank in the financial year 2015 was £ 420 million. Total assets of the
organization were of worth £ 22.8 million. Total number of 8000 employees are working with
the bank and organization carry out its functions with objective to earn profit. Cooperatives are
business organizations that are owned and operated by a group of individuals with objective to
earn profit (Wheelen, and Hunger, 2011). Major purpose of cooperative organizations is to earn
profits through selling services and products.
1.2
Objectives of Stakeholders to be attained by Primark
When an organization is being established it is very important that it must comprise of
different stakeholders. It is refer to those group of people which may directly or indirectly shown
an interest towards the activities carried out in a company. For an example Primark have their
own stakeholders such as owners, customers, employee, debtors, suppliers etc. There are
different kinds of objectives set by a company for stakeholders and it is essential for a company
to meet the same. In order to do so there are many ways such as:-
Managers and Directors
Proper responsibility is to be assigned to a manager so that a high position can be Handel by a
manager. Likewise an employee, a manager also look forward for salaries, bonus and other
monetary satisfaction but on the other hand it is also important that a manager must show its
involvement in non-financial areas(Osterwalder, and Pigneur, 2010.). A manager must take care
of his assigned responsibility with regard to work.
Customer

Customers are considered as one of the most important stakeholder in a company because
a demand shall always created by a customer. Such demand is always raised in context to the
quality of product in good price. They want product as soon as possible. The role of a company
for its customer is to attain consumer satisfaction by providing good quality of goods and
services.
Suppliers
There are considered as an essential entity towards a company as they supply raw material for
production of different items.There are some suppliers which even entered into an exclusive
contract(Scheer, 2012). A company shall possess the right to terminate contract if objectives are
not attained by suppliers.
Government
It is always considered to the tax revenue generated by the company. It is the duty of
organization like Primark to generate tax revenue for government so that a city budget shall be
formed. One a revenue will be generated there shall be higher chances of getting employment.
Hence these are some of the objective of primark towards its stakeholders(Turban, Sharda, and
Delen, 2011).
1.3
Responsibility of Primark and strategies employed to meet
When an organization is being established then it raise certain responsibility towards the
work and towards its employee also. There are certain measures which a company must ensure
for an exsample safety and providing good quality of services. A proper form of marketing so
that consumer shall be aware of any product which a company is launching as there are many
company which promise to provide ads but in reality, goods are not similar to what they show in
an advertisement. Some of the responsibility primark possess towards its employee are:-
Providing safety at Work- the major responsbility of any organization towards its employee is to
prove a proper safety and health assistance so that an employee shall be able to work in good
conditions(Bryman, and Bell, 2015). There are many provision related to health and safety
established in The Health and Safety Work Act 1974. It states that it is the duty of an
organization to provide health and safety assistance to employee as well as non-employees from
risk arising out of work.

Equality among all- it is the prime duty of any organization to provide equal opportunity
to all the applicant during its recruitment process. According to the right to equality act 2012, no
person shall be discriminated on the grounds of sex, color, caste, religion etc when it comes to
opportunity or any kind of work in a company.
Providing Financial report- a company must provide an honest financial report to its
stakeholders. It is the right of every stakeholder to get a review on the statement of financial
performance and other operations, carried out by a company in an year(Kolk, and Van Tulder,
2010).
Providing good environment- organization are under an d obligation or it can be said that
they are ought to provide a good environment facility to the employee. The company must be
comfortable with employee and no further burden made on employee. A friendly environment
must be maintained by a company for better work opportunity. Primark needs to fulfil some
responsibilities for working as an organization and it is vital that management of the organization
should take initiatives for meeting their responsibilities. Major responsibilities of the enterprise
are as follows :-
Legal responsibilities :- organization needs to follow consumer legislations, employee
legislations, tax and financial legislations and health and safety legislations. It is required that all
the operational activities of the organization should be executed in legal and lawful manner.
Ethical responsibilities :- It is assertive that organization should not forget about
secondary stakeholders. Company needs to know about expectations and objectives of different
stakeholders. Firm is responsible for satisfying its stakeholders by achieving what they want.
Primark organization takes significant steps for involving stakeholders in the decision making
process. Company avoids buying goods at lower prices and selling them at higher price rates.
Other than this company takes initiatives for not damaging the environment. No unauthenticated
information is provided to people in advertisements and honest claims are made in promotional
campaigns.
Strategies adopted by entity for meeting the responsibilities :- Stakeholder analysis
techniques is used by the organization for systematically collecting data and information to
determine interest of stakeholders interest. Participative management style is used for involving
stakeholders in the decision making process of the entity.

TASK 2
2.1
Different Economic System
A relation which is being maintained between a consumer of a goods and a producer is
governed by economic system. It is considered as complex institutional as well as socio-
economic relation between a producer and a consumer. There are different kinds of economic
system to be followed in a country for various business organization. Some are:-
Mixed economy :- In this type of economic system government and private organizations
takes decisions for making allocation of resources. Discussions about what to produce, how to
produce and in what quantity are to be produced are decided by private and public organizations
that are working in the state. It is a combination of command, market and traditional economic
system and law of demand and supply determine the price of products. Government has less
power for making allocation of resources (Black, Clemmensen, and Skov, 2010). Centralized
planning is allowed in the free economic system and demand and supply are two forces that
determine price of the commodities in market. In UK mixed economic system is followed and
less role is played by government for making allocation of resources.
Planned Economy- a proper planning shall be conducted for the supply and demand of a product.
The input in a planned economy is directly based upon allocation.b it will include distribution,
pricing of any product, decision on investment to be made by company. Cuba is country which
follow planned economy. By the application of such economy, Cuba is able to achieve its
objectives attaining consumer demand. State will be able to build high level of industry in a
underdeveloped economy with the application of planned economy. In this kind of economy all
the decisions are taken by government regarding resources(Chabowski, Mena,and Gonzalez-
Padron, 2011).
Traditional Economy- it is original economic system in which proper customs and
traditions are to be followed. Such customs an beliefs shall help in shaping goods and services.
One of the example of traditional planning is tea plantation to be carried out in South India.
Open Market Economy- the market which will work in the frame of rules and regulation
government by government. In such market, scope of competition and absence and presence of
local custom and culture will prevail on trade. Decisions are taken by firm itself for resources.

Economy of China is governed by Open Market Economy in which an individual or an
organization can carry out the activity of trade by free selling of charges and Taxes.
2.2
Monetary and Fiscal Policy
For enabling growth and for establishing stability in the organization dealing with
business, it is very important to apply such policies because it will bring low unemployment rate,
balance of payment etc. The two main policies which are governed in business environment are
Fiscal policy and Monetary policy
Fiscal Policy- it can be explained as the revenue which is generated by the government out of
Taxes which will influence economy(Teece, 2010). The main purpose of initiating fiscal policy
is to influence aggregate demand in an economy. Fiscal policy create a great impact on housing
and Farming sector. With the application of same, both sector will be able to establish a price
stability. There will also be full employment in housing sector as well as on farming. One of the
major impact of both the policies is seen in economic growth of Housing and farming
corporations. But during the time of recession such policy create a good impact on different
sectors as government can either increase purchase or reduce taxes. But if the taxes get reduced
then it will create worse effect on the economy of a country.
Monetary Policy- when the monetary value of any country shall get controlled by any monetary
authority, comes under monetary policy. For an example each country has central bank, currency
bank which will create a control over supply of money. An economic growth shall always be
distributed under monetary policy. Impact of such policy on both the sector that is housing and
farming will be good as the interest rate shall be on desired level.when a change is attained in
interest rate it will create enormous impact on the supply of product in a market. If the rates will
be low people are expected to spent more money as a result demand shall increase and economy
will be recovered(Meskendahl, 2010).
2.3
Competition Policy
The term competition can be understand as the activity in with two or more then two entity are
engaged to gain or win something by defeating another entity or establishing superiority.

Competition is the common concept in business environment as there are many organization
which are established to fulfill same purpose so in order to attain profits out of business
activities, it is very important that competition must prevail. For establishing fair competition,
there are many policies which are initiated to ensure that efficiency will be promoted in
competition(Trkman, 2010). It will make markets work better then previous. It also aim towards
enhancing competitiveness in market. Some of the policies related to competition in market are:-
Anti Competitive agreement Policy- according to competition act, no business
organization is allowed to form any agreement with other entity which will give an adverse
effect on the competition prevailing in market that is when a contract or an agreement is being
signed between two entities then they have to make sure that such agreement is not making any
negative impact on the competition prevailing in market.
Establishing dominant Position- another competitive policy in order to enhance competitiveness
in market, no company is allowed to establish dominant position in the market that is a company
is established in such a position that i will restrict competition in the given market. But if such
position is being used in a wrong manner then it will be denoted as abuse on dominant
position(Mishra, and Suar, 2010). Provision of abuse in a dominant position is also given in
competition act which is considered as illegal activity.
Antitrust and Cartel Policy - another important policy with regard to competition in a
market is, no business organization is allowed to establish cartels that is they are not allowed to
fix price of a particular product. Fixing price will create adverse effect on the competition
prevailing in market.
TASK 3
3.1
Pricing and Output Decision in various Markets
Market structure is defined as the characteristics prevailing in a particular market
depending upon the product raises and the demand of that particular product. The organization
which is being carried out in a market and the characteristics of a particular market shall define
its structure. There are different kind of marketing structure for an example:
Perfect competition Market- there are large number of buyers and sellers present in this market.
A price of a particular product will be in knowledge of consumers as well as producers. There

are similar kinds of product produced in a perfect competition market and such product will be
differentiated on the basis of any trademark or copyright(Moe, and Trusov, 2011). There is no
barriers on the entry or exit of firm in perfect competition which is why every participant of
perfect competition market is a price taker. In this type of market, buyers make such trade which
will increase its utility in terms of economic. Primark is a perfect example of Perfect competition
market
Monopoly Market- when, in a market there is only one supplier of a particular product or
commodity. When a company enter into monopoly market, it will increase its profit
maximization. The company in this market are generally price makers that is in a monopoly
market, a price shall always be decided by the company depending upon the quantity and quality
of a product. Restrictions are imposed in such market. Not every organization can easily enter in
monopoly market as there is only one seller of the good by whom every output is
produced(Tang, and Musa, 2011). The whole market is governed by just one company. Price
discrimination is also maintained in monopoly market. A monopolist can charge high and create
less elasticity or vise verse. BMW is the biggest example of Monopoly market
Oligopoly Market- small number of seller can establish dominance in a market. There
will be very few sellers present in this type of market but those few seller possess the ability to
maximize profit. They are also called price takers and thus possess the ability to set price. The
barriers of this market is very high of which one major barrier is government licensing, patent,
economic scale. Oligopolies can make long run profits.
Duopoly market- it is also a kind of oligopoly in which imperfect competition prevail.
There are only two firms involved in the production of any homogeneous product.the price
determination will be same as oligopoly.
3.2
Market Forces Shaping Organizational Response
Market forces such as supply and demand gives impact on the organizational response and due to
that diverse business activities gets hampered. Demand is defined as requirement of a specific
service or product in market. On the supply is defined as products and services that are offered
by the enterprise in market. Demand and supply are two major factors and market forces that
shapes the organizational response(Zott, Amit, and Massa, 2011). Supply represent how much

market can offer and supply relationship is defined as correlation between price and quantity of
good that is being supplied in market. Price of products and services gets affected due to demand
and supply of product in market.
(SOURCE- Teece, 2010)
Law off demand states that keeping all the factors remains equal, higher will be the price of
good, less demand for product will be available in market. It defines that if price of the products
in increased than demand for it will reduce in market. For example if there will be less demand
for products in market than due to it organization activities will be hampered. Organizational will
be forced to reduce the supply of products and it will give negative impact on the sales activities
and financial performance of the enterprise. In addition to that market forces gives impact on the
organizational response and if demand for products will increase in market than it is required that
more products and services should be supplied for meeting the demand that has been created in
market area. Supply and demand are two significant market forces that impacts overall
operational activities that are being performed in the entity. In addition to that price is an element
that gives impact on sales and of products. If price of a specific product or service will be
enhanced than due to that consumers will give fewer preferences for purchasing the product.
3.3
Business and Cultural Environments shaping Organization.
It is very important for any or the organization to inculcate cultural as well as business
behavior in an organization. It will create a great impact on the company as it will help in
Illustration 1: Demand and supply
curve

shaping the organization there are different kinds of behavior prevail in a company and some of
the major are business and cultural behavior. Any factor which is not related to Political or
Economic factor is considered under Environmental and Cultural behavior.
To study Business environment it is important to conduct external environment that is
PESTLE which will comprise of
Political factor- will include the policies initiated by government for achieving benefits
like taxation policy. Rules, regulations and policies formed by government are mandatory to
follow. If there are modifications made by government than it is required that Primark should
also make changes in its existing norms so that business activities can be carried out effectively.
Economic Factor- it will include exchange rate, interest rate, inflation rate etc to be
governed by a business organization. Changes in economic conditions of nations such as
inflation and deflations gives positive and negative types of impact on the purchasing power of
people. At the time of inflation purchasing power of individuals reduces and they give more
importance for buying products that are available at lower rice range. On the hand at the time of
deflation purchasing power of people increases and they give more importance for buying high
quality products.
Social Factor- this will include social environment of market like trend to be followed,
population analytic etc. values, trends, norms and beliefs that exist in society also gives impact
on the operational activities that are performed in the enterprise. It is assertive that Primark
organization should take initiatives for understanding the trends that are running in the society
and products needs to be developed and delivered on the basis of that.
Technological Factor- it will include the use of technology at great extent which will
bring innovation and development in business. Innovations and advancements are happenings in
the global business environment and due to that business activities of the corporation gets
affected. It is required that new technology should be adopted so that better and effective
decisions can be taken for the entity.
Legal Factor- legal factors shall consist of rules and regulation which a company must
take care of while establishing a business for an example employment rights, equality rights etc.
it is required that all the functional activities of the business should be carried out in legal and
lawful manner. Norms and legislations are required to be followed and it is also needed that
management of Primark should ensure that all the legislations are followed properly.

Environmental Factor- this will include factors determined or influenced by environment.
For example climatic change conditions such as climate change and temperature change also
gives impact on the functional activities that are performed in the enterprise.
Cultural Environment- is it refereed to the set of customers or the beliefs to be followed by the
organization, every company has it own fundamental norms which is mandatory to be followed.
A culture in a company will define how employee shall be treated and what kind of environment
is prevailing in a company(Business Environment, 2017). A culture behavior of a company will
define that every employee shall be treated on equal basis. There will be proper work
engagement by employee. Cultural is considered as an important factor for making business. A
company must consider and focus on to the goods and services they have targeted towards.
TASK 4
4.1
Significance of International Trade in UK business Organizations
International trade has provided platform for business organizations to sell their products
in different countries of the world. Primark organization gets chance to expand their business and
in other parts of the world. It also provides medium for enhancing sales and financial revenues of
the organization. New and profitable markets are provided by globalization and it helps for
increasing competitiveness of firms. Exchange of goods, services, people and capital can be done
through international trade and it also supports for getting expertise for carrying out business
activities. International trade provides a huge market area for selling products and services.
Financial revenues of the organization can be enhanced and it will help for increasing the
profitability of the enterprise (Al-Debei, and Avison, 2010).
Local countries provide limited market for selling products and services where as new
consumers can be targeted in international market area. Technical expertise that is used by other
countries can be used for making positive and significant improvements in the manufacturing
and supply chain activities that are performed in the entity. Other than that financial expertise of
other countries can also be utilized for performing the business functions. International trade
provide various positive benefited for organizations that are working across UK. Access to new
consumers can be gained and consumers can be targetted for selling products and services (What
is Environmental Analysis, 2017). New opportunities can be created and access to new

technology can be gained. Resources of other countries can also be used for manufacturing and
developing the goods of the organization. Access to new technology is provided by international
trade and it also helps for using technical expertise of other countries.
4.2
Impact of Global Factors on UK business Organization
Globalization has provided options for organizations to sell their products and services at
international platform. It has become possible that good can be produced by cooperation of
different countries. It is possible that different parts of goods can be produced and assembled in
different countries at affordable and cheaper price range. Globalization also provides medium for
selling products of the enterprise in vast international market area. Manufacturing and sells
activities have become much easier and it has supported for enhancing profitability and sales of
the enterprise. BRIC is an acronym that is being used for economies of Russia, Brazil, China and
India.
Theses of BRIC posits that India and China has capabilities for becoming the
largest suppliers of manufactured products and services. On the similar side Brazil and Russia
has capabilities for being the largest suppliers of raw material. All the four countries have
potential for becoming the powerful economies of the world. Primark organization can target
emerging markets for selling products and services that are offered by the entity. High returns
can be gained and huge profitability can be received by executing business functions in emerging
markets of the world (Teece, 2012).
However there are some risks also that are involved in making investments in
emerging markets. Political instabilities in a nation posses threats and other than this if there is
domestic infrastructure problem than due to it also problems are faced in executing business
functions. Limited equity opportunities and currency volatility are also included in list of global
factors that gives impact on the functional activities that are performed in the enterprise.
International trade duties are also imposed and it is required that companies that buy products
should pay import duty. In addition to that companies which sells products need to pay export
duty. Primark organization also need to pay import and export duty while carrying out functions
of business.

4.3
Impact of EU policies on UK business Organization
Policies and norms that are formed by European Union supports for ensuring exchange of
goods, people, finance and services at global platform. Different policies that have been formed
by EU affects the business activities of Primark organization also. Various policies that have
been formed by EU are as follows :-
Agriculture policy :- This policy has supported for ensuring food security at global level.
It is required that food production should be doubled by the year 2050 for meeting the needs of 9
billion people. Farming and food production activities related norms have been formed under the
agriculture policy. Business functions of Primark also gets influenced as some necessary
resources for manufacturing products comes from agriculture industry.
Business policy :- These policies have been formed for ensuring free movement of goods,
services, people and money in market (Carroll, and Shabana, 2010). Member states of EU have
power to restrict movement of goods and services in nations. Primark organization gets
opportunities for selling their goods and services at international platform. It provides options for
enhancing sales and profitability of the enterprise.
Tax policy :- tax policy of the EU gives opportunity for for gaining tax benefit
advantages. For example if there are lower company taxes in one country than it provides
competitive advantage for the business (Carroll, and Shabana, 2010). Primark organization gets
benefits for saving their taxes and it also helps for enhancing financial revenues and profitability
of the organization.
Employment policy :- this policy of EU supports for making continuous improvements in
living and working conditions throughout the European union. It is assertive that all the
companies that are working in European and Non European union should follow the employment
policy regarding payment, safety and recruitment (Udo, Bagchi, and Kirs, 2010). Primark
organization also need to follow all the employment policies of EU.
Health policy :- It is required that safe and protective working environment should be provided
to the employees that are working in the organization. Health policy of EU makes it mandatory
for the organizations to provide safety and protection to employees in the organization.

CONCLUSION
It can be concluded from the above project that there are many factors which are
responsible to build business environment. The project has described about types or organization
that is private and public and all the research has been conducted in terms of Primark. The report
has described about the purpose and the structure of an organization. There are different kinds of
market structure depending upon price and product. It has been further explained in the project
that to maintain fair competition is must for business environment. Importance of international
trade in global market is also explained in the project with reference to different factors.
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