Business Environment of Primark company : Report
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Added on 2020-01-07
Business Environment of Primark company : Report
Added on 2020-01-07
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Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Purpose of different organizations.........................................................................................31.2 Extent to which objectives of stakeholders are met...............................................................41.3 Responsibilities of Primark....................................................................................................4TASK 2............................................................................................................................................52.1 Different economic system....................................................................................................52.2 Impact of fiscal and monetary policy....................................................................................52.3 Competition policy................................................................................................................6TASK 3............................................................................................................................................73.1Explaining the ways in which pricing and output decisions are determined by business unit.....................................................................................................................................................73.2 Assessing the ways in which market forces shape organizational responses........................83.3 Assessing the ways in which business and cultural factors affect the behavior of Primark..8TASK 4............................................................................................................................................94.1 Discussing the significance of international trade to UK business organizations.................94.2 Analyzing the impact of global factors on UK business units...............................................94.3 Evaluating the impact of policies of European Union in the context of Primark................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTION Business environment includes both micro and macro factors that have high level ofimpact on the growth as well as functioning of company. In the present times, changes take placein the business environmental aspects with the very high pace. In this regard, manager of the firmis required to develop highly competent and strategic policy framework by evaluating the markettrend or pattern. The present report is based on Primark which is the leading clothing retailer ofUK. Such company is known for its quality products and affordable prices which in turn evolvehigh level of satisfaction among the customers. In this, report will provide understanding aboutthe objectives of different types of business organization. Besides this, it will shed light on thelevel to which Primark has met stakeholder’s objectives through the means of strategicframework. In addition to this, report will depict the manner in which pricing strategies affectoutput decision of firm. Further, it will also highlight the extent to international trade andtransactions are significant for Primark. TASK 11.1 Purpose of different organizations Primark is a leading clothing brand that offers super quality products to consumers atreasonable price range. It is required that expectations and needs of consumers should beidentified and products should be developed on the basis of that. Purpose and objectives ofdifferent types of organizations is as described:- Public sector :- The major objective of public sector organizations is to provide betterservices and amenities to local community people (Baldwin and Scott, 2013.).Employment opportunities are created by these organizations and these organizationsplay a significant role in developing economy of nation in effective way. Charity organizations :- The major objective of charity organizations is to enhance livingstandards of people by offering help to people who are in need (Dhingra and et. al.,2016). These are non profit organizations and they work for making positive and betterchanges in lives of community people. Co-operative :- These organizations are started by two or more people and majorobjective of these organizations is to make profits and offer better products and services
to people. Members of the organization takes decisions for carrying out businessactivities. Private sector:- Major objective of these types of organizations is to earn profit by sellingproducts and services to business consumers. Primark is a retail organization that worksin retail industry and offers superior quality products and services to consumers. 1.2 Extent to which objectives of stakeholders are met Stakeholders of the organization provide necessary resources and investments that areneeded for carrying out business activities. Primark organization and various stakeholders are asfollows :- Employees :- Staff members are prominent stakeholders that supports for executingstrategies that have been formed by the top management of the organization (Dunne Andet. al., 2013). Positive efforts given by staff members supports for enhancing efficiencyand productivity of the organization. Consumers :- Products of Primark organization are purchased by consumers and theyprovide financial revenues to the business consumers. Shareholders :- Necessary investments for carrying out business activities are providedby shareholders. Primark provide dividends to shareholders that helps for payingresponsibilities towards shareholders of the enterprise (Lee, Olson and Trimi, 2012). Suppliers:- Necessary raw material for executing manufacturing and production activitiesof the enterprise is provided by suppliers. Company makes it ensure that suppliers shouldbe paid on proper time. Government:- Rules, regulations and norms formed by government are followed byorganization and all the business activities are performed in legal and lawful manner. 1.3 Responsibilities of Primark There are many responsibilities of Primark company that needs to be fulfilled so thatbetter outcomes can be received from the business activities. Responsibilities of the organizationare as described:- Environmental and ethical issues:- Company need to carry out their business activities ineffective way so that no damage should be done to the environment.
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