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Report On Business Environment | Primark

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Added on  2020-02-12

Report On Business Environment | Primark

   Added on 2020-02-12

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BUSINESSENVIRONMENT
Report On Business Environment | Primark_1
TABLE OF CONTENTSINTRODUCTION.......................................................................................................................................3TASK 1.......................................................................................................................................................31.1............................................................................................................................................................31.2............................................................................................................................................................41.3............................................................................................................................................................4TASK 2.......................................................................................................................................................52.1............................................................................................................................................................52.2............................................................................................................................................................62.3............................................................................................................................................................7TASK 3.......................................................................................................................................................83.1............................................................................................................................................................83.2............................................................................................................................................................93.3..........................................................................................................................................................10TASK 4.....................................................................................................................................................114.1..........................................................................................................................................................114.2..........................................................................................................................................................124.3..........................................................................................................................................................13CONCLUSION.........................................................................................................................................13REFERENCES..........................................................................................................................................14
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INTRODUCTIONBusiness environment compress of internal and external factors which influence various activitiesand functions of an organization. This report describes the business environment of Primark which is aprivate entity of UK and is part of fashion world. This study will help reader to understand various typesof organizations of UK along with its purposes. Here, different economic systems are to be discussedalong with competition policy of businesses of UK. Learner will come to know about various marketstructures which are affects by pricing and output decisions of entity (Solomon, 2014). Through thisreport, reader will be able to assess the importance of global factors which shape the national businessactivities. TASK 11.1A business unit is an entity that establishes its business with an aim to accomplish its targets andgoals. There are many types of organization exists in a business environment such as sole trader,partnership, private and public companies, corporations, government and non government entities,municipal enterprises, etc. Here Primark is a private subsidiary company of Associated British Foods(ABF) Group. Let’s discuss this in detail:Private company: Private enterprise is such where two or more individuals or group of peopleowns an entity (Boons and Lüdeke-Freund, 2013). Here, shares are traded only with theagreement of shareholders. Primark comes under this type of organization where it enjoys a legalstatus of corporation. Owners under this have a limited liability status. Primark may raise largeamount of capital compare to partnership firms and sole traders. Aim behind establishment of thisbusiness unit is to generate profit, increase in sales, making more business partners, to avoidrisks, creating jobs for owners of the firm, etc. Therefore, main purpose of this subsidiary is tomake more and more profit and other purposes are created to fulfill this aim. Co-operatives: These businesses are owned by members involved in this such as consumers,employees, suppliers, etc. They work together with an aim to generate profits and facilitate equalshare of profits to its members (Bill Pasmore PhD and CMC, 2010). Along with generation ofprofit, the purposes of these entities are to increase in sales, providing jobs to members at anyposition, sharing risks, making partners (outsiders), etc. Non government organization: It is a not profit organization that operates its activitiesindependently without any intervenes of any government and its main purpose is to do publicwelfare. It is totally different from the above two types of businesses. Other purposes of this
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entity is supporting rights of people, helping poor persons, educating and informing individualsabout various things like dangers, deceases, etc. 1.2Every organization establishes with an aim to accomplish its goals and targets. Eachestablishment has different objectives and make many strategies to meets them. Objectives of privateentity like Primark are to make profit, growth, satisfying people, market share and survival. Primarkincludes many stakeholders such as shareholders, consumers, employees, suppliers, trade unions,government and society. All of them are connected with this firm to obtain different objectives. These arediscussed as under:Shareholders: These are members of the enterprise and objectives of these persons to earn profit,aware people about their brands, expansion of business, etc. Employees: Employees are engaged in the various business operations of this unit is to earnmoney in the form for incentives, salary, bonus, for career progression and prestige. Customers: Objectives of customers of Primark is to get good quality products at low rate orprice.Suppliers: Their goal is to make profit, promote payments, brad awareness, receive fair price ofthe goods supplied to Primark, etc.Trade unions: Their intention is to create employee and industrial relations along with to earnminimum salary or wages on time. Society: It is a type of secondary stakeholder and their objectives are to allocate efficiency, faircompetitive market, cost of living, sustainability, etc.All the above objectives of stakeholders of Primark are fulfilled by its management by properplanning and strategies. There are two types of stakeholders exist in an organization i.e. primary andsecondary (Commander and Svejnar, 2011). Primary are those who have a direct interest in the firmlike suppliers, employees and investors whereas secondary have indirect interest in the company suchas government, society, etc. Firstly, management of Primark tries to fulfill goals of its primarystakeholders because they are very important part of the entity. After it, they meet objective of theirsecondary stakeholders with least costs. 1.3Every establishment comes up with different responsibilities towards eternal and internal forcesof company. Primark includes following responsibilities:
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