Report On PRIMARK - Business Environment

   

Added on  2020-02-17

17 Pages5639 Words48 Views
BUSINESS ENVIRONMENT
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Purposes of different types of organisations.........................................................................11.2 Objectives of different stakeholder which need to be meet by Primark...............................21.3 Responsibilities to meet stakeholder objectives....................................................................3TASK 2............................................................................................................................................42.1 Economic system of different market structures...................................................................42.2 Impact of fiscal and monetary policy on farming and housing.............................................52.3 Competition policy that create impact on workers performances.........................................6TASK 3............................................................................................................................................73.1 How different market structure can determines pricing ad output decisions........................73.2 Market forces can shape to organisational responses...........................................................83.3 How business and cultural environment can shape to the behaviour of Primark.................9TASK 4..........................................................................................................................................104.1 Significance of international trade to the UK enterprises...................................................104.2 Impact of global factors......................................................................................................114.3 Impact of European union policies on UK enterprise.........................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
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INTRODUCTIONBusiness environment possess various internal and external factors which affect thecompany’s performance. To enhance the market share and profitability it is important to assessenvironment of enterprise which provides opportunity to expand business operations in aneffective manner (Alonso‐Almeida, Fernández de Navarrete and Rodriguez‐Pomeda, 2015). Inthis way, the enterprise can improve their performance through assessing environment in whichthey are operating. Present report is based on Primark which is the retail clothing industry andprovides different types of clothes to women, children and men as well. In addition to this, theyare selling products and service in all areas of world through online and offline both types ofstores. In order to focus on this study, report covers objectives of different stakeholder whoperform for the business. Furthermore, it includes impact of fiscal and monetary policy onfarming and housing industry. Moreover, pricing and output decisions are ascertained throughdifferent market structure. In addition to this, it analyze the impact of global factors on UKenterprise.TASK 11.1 Purposes of different types of organisationsEach business focus on their functioning to achieve goals and objectives. In this way,their aims and strategy can be different from other company through they can achievecompetitive advantages within the market (Bernstein, 2015). Therefore, different organisationdetermines their purposes in the following manner:Public sector: This sector business operates their functions for the welfare of public. Their mainaim to provide effective and low cost services to customers for enhancing their living standards.They perform different types of functions and operation which are beneficial for thedevelopment of customers. British airway is the public limited company which operatesfunctions for the public. In this aspect, brand image of the enterprise (Kale, 2014).Charity: Charitable businesses is working to save people rights, remove wars, helping to poorand vulnerable persons. They are also providing education to them for enhancing theirknowledge regarding rights and many other things. In this aspect Charities Aid Foundation(CAF) is working to remove poverty through providing shelter and food facility to people. It will1
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assist to enhance living standard of people at workplace. Their main aim is to remove povertyfrom workplace (Schaper, 2016). Cooperative firm: In cooperative businesses, various people work together to achieve commonobjectives and goals. Their main aim is to increase fund to invest more money that assist toachieve positive results and enhance revenue from different activities and actions. They worktogether for sharing profits and loss which occur after deal and many other aspects. CBH iscooperative society of UK market who is operating different types of functions and operationsthrough sharing profits and loss (Williams and Schaefer, 2013). Mission of PrimarkPrimark is working as a private organisation whose mission is to earn more moneythrough providing effective products and services to the customer. They offer different types ofproducts and services to attract potential customer. Vision of PrimarkThe chosen company has the vision to provide products and services at the low cost sothat they can maintain sustainability at workplace (Kliegl and Weaver, 2014). 1.2 Objectives of different stakeholder which need to be meet by PrimarkIn UK, Primark is working as the largest cloth retailer company which operates in morethan 50 countries and 200 outlets. They are mainly organising activities for those customers whoare more concious about fashion-driven. In this context, various types of stakeholder are workingwho contribute their participation to achieve goals and objectives (Alonso‐Almeida, Fernándezde Navarrete and Rodriguez‐Pomeda, 2015). They are as follows:SuppliersPrimark is dealing in diverse range of products and services such as clothing, food andmany others. Thus, they require raw-material to produce finished products. In this way, theydepend on the suppliers and their objectives are to get right payment of raw-material. Therefore,the cited firm need to provide them timely payment which assists to meet with objectives andgoals of the business (Cao, Duan and Li, 2015). CustomersCustomers are also most important stakeholder through Primark can earn money. Theywant to get qualitative products and services according to their demand from the enterprise.Therefore, the cited firm need to provide them products and services at the low cost by2
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