Business Environment Report- Primark
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Added on 2020-01-28
Business Environment Report- Primark
Added on 2020-01-28
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BUSINESSENVIRONMENT
TABLE OF CONTENTSINTRODUCTION..........................................................................................................................................................1TASK 1...........................................................................................................................................................................11.1Identifying the type of organisation and its purpose ...........................................................................................11.2Extent through which Primark meets the objectives of their stakeholder............................................................21.3The responsibilities of Primark as a company and different strategies are introduced for meeting them ..........3TASK 2...........................................................................................................................................................................42.1Different types of economic system in following countries.................................................................................42.2Assess the impact of fiscal and monetary policy..................................................................................................52.3Different competition policy and other regulatory mechanism in UK................................................................5TASK 3...........................................................................................................................................................................63.1How pricing and output decisions of businesses is determined in different structure of market.........................63.2Ways in which market forces shape organisational responses.............................................................................73.3How business and cultural environment shape the behaviour of Primark...........................................................8TASK 4...........................................................................................................................................................................94.1Singnificance of international trade to UK business organisation.......................................................................94.2The impact of global factors in UK business organisation.................................................................................104.3Impact of policies of EU on UK business organisation.....................................................................................11CONCLUSION.............................................................................................................................................................11REFERENCES..............................................................................................................................................................12
INTRODUCTIONBusiness environment can be defined as all of the internal and external factors whichaffects the functioning of employees, management and customers. Through this study,management recognises the needs of employees which helps them to increase the satisfactionlevel of customers. The environment of business is total of different types of conditions as wellas the events which can affects the business to a greater extent. Present report is based on thecase study of Primark which is a subsidiary firm of Associated British Foods and it was launchedin the year 1969 in Ireland (Al-Debei and Avison, 2010). Further, they opened 100 stores fromthe year 2000 in Ireland and Britain. In this report, it also covers the purpose and how thecompany meet the objectives of their different stakeholders. It also involves the differentdecisions of pricing along with output that are identified by the business. Moreover, this reportshows the importance of international trade to the business organisation of UK along with theimpact different policies of EU on UK business. TASK 11.1Identifying the type of organisation and its purpose There are different types of firms in order to evaluate the working of the business andtheir purposes are mentioned below:Charity- This is considered as non-profit organisation as their main motive is to provide servicesfor the welfare of public. For example, in UK Cancer Research which organises different typesof events and also collect donations which is used for the treatments of cancer patients. Thus, themajor objective of the company is to provide appropriate facilities to patients and to makeinnovations in order to provide services. Cooperative- This type of business is managed by their own persons. For example, Daily breadis a company that delivering products as wholesale prices and leads to reduction in theexploitation of their various number of customers (Bøllingtoft, 2012). Private Limited company- Primark is a subsidiary firm and considered as public limitedenterprise in retail of Associated British Foods group and they are engaged in dealing with widerange of goods and services. The main of company is earn high level of profit. In order toachieve targets they are required to formulate different strategies which helps them top compete
in marketplace. Private companies mainly focuses is to provide appropriate quality of productsand services as per the demand of customers. Public Limited company – This type of business is controlled by the government and their mainobjective is to concentrate on the demand and requirement of public. For example, Tesco whichis public company and their major objective is to provide best quality of product at reasonableprices to customers. The management of the company focuses on the quality of the products andservices which helps them to increase in the customer base (Botha, Kourie and Snyman, 2014). 1.2Extent through which Primark meets the objectives of their stakeholderStakeholders are those who have stake directly or indirectly within the organisation. Theyplays an important role in Primark in order to achieve different goals and objectives. There aresome of the stakeholder of Primark which plays essential role such as suppliers, customers,employees, government for attaining the objectives. There are certain objectives of stakeholderand Primark concentrating on to meet all of them in an appropriate manner. Suppliers- This is one of essential stakeholder which provides appropriate products andaccessories to the company. The stated business in not engaged in manufacturing theirown products. Mainly the suppliers meet the demands and needs of customers byproviding them quality products for increasing the volume of sales (Brannon, 2010). Themajor objective of suppliers of Primark is to offer quality products to the the company forsatisfying the requirements.Customers-This is considered as another main stakeholder of Primarkas they deliverproducts as per their requirement along with the reasonable prices. In order to achieveobjectives the company is required to have knowledge of different types of demands andrequirement of customers. They are considered as key of the organisation as without theywill not be able to attain objectives. Government- Government also plays an important role in the functioning of the business.In this, the government keep appropriate track on that whether the company is carry outthe CSR activities or not. For this, it is important for the business to to manage all of itsresponsibilities with respect to government for satisfying them.
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