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Contemporary Business Issues - Next plc

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Added on  2020-06-04

Contemporary Business Issues - Next plc

   Added on 2020-06-04

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CONTEMPORARYBUSINESS ISSUES
Contemporary Business Issues - Next plc_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK ..............................................................................................................................................1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................6
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INTRODUCTIONA perennial challenge is faced by all world’s countries, in regardless of their level ofeconomic growth, gaining financing stability, higher living standards and many more(Barrientos, Gereffi and Rossi, 2011). There are different paths which has been considered byorganisation to achieve their business objectives. This assignment has focus on how globalisationis impacting on individuals and country or region. Along with this; external environmentalfactors are listed below which has severe impact on organisation. For this, Next plc company istaken which is largest and most profitable fashionable retail company in UK. TASK Globalisation is historical process which results in the form of human innovation andtechnological evolution. It is refers to increasing integration of economies around world andparticularly with the help of movement in goods, capital, services across the border. It alsodiscusses the things such as trade between world-wide companies and most of people consideredthat it has impacting on their life standards.Globalisation has effect on every individual’s life which includes religion, transport,clothing, food. However, it impacts on individual’s life differently but they are wisely dependingupon the number of factors such as income, education, social class etc. It has been criticised forwidening up the gap between rich and poor person (Black, Calitz and Steenkamp, 2015). Manypeople are belonging from developing nations and giving disadvantage to poor people if it iscompared with developed nations. It also exploited cheap labour without using newtechnologies. But for those, who have access, they are not unable to use internet but they arehaving capability to read, write and make contribution in achieving business objective andimprove economic conditions. On local level, globalisation has drastically change the nature ofbusiness. Small and local companies are struggling to beat their competitors at domestic levelonly. It results in consumers are purchasing cheaper products which are offering by retailcompanies and they are manufacturing products with the help of using cheap foreign labour.However, it also affecting local culture of people because traditional customs are replaced bynew culture. Globalisation is affected to poor people because they are less educated but havingskills to improve economic condition of country. But their lifestyle has been completely changedafter globalisation because many companies are offering products and services at cheaper rate.3
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