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Context of Business - M&S Assignment

   

Added on  2021-01-01

6 Pages1318 Words171 Views
Context of business.

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Identifying the micro or macro factors at global environment...................................................1Discussing the reasons and importance at individuals and organisation to manage responsibly,sustainably behave ethical...........................................................................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

INTRODUCTIONBusiness environment is made up from two factors internal or external who always affectthe industry or organisation in both positive and negative manner. In other words it also affectsthe overall economic conditions of the country as well. Present study based on businessenvironment in which study will be taking fashion retail company M&S. Further, in this reportdiscussed about micro and macro factors which how external or internal factors affect overallfashion retail industry. Besides, report also explained about the importance of sociallyresponsible in the perspective of organisation and individual. In other words, overall studyexplained the importance of business environment and factor affecting goals. MAIN BODYIdentifying the micro or macro factors at global environment.Micro factors The suppliers : Suppliers are the most significant micro factors without company cannotmake the finished products for the consumers (Kljucnikov and et.al., 2016). To work smoothlyand efficiently it is required for the company to build up the long lasting result and goals. Apartfrom that, it also discovers the emerging market opportunity and bring new working areas.Suppliers are highly powerful in fashion retail sector due to high demand. In terms of negativerelation with the suppliers can affect the business goals. The Consumer : Customers are the king of the market which always need to be buildpositive and effective result outcomes to make the good appearance. Customers are the highlyaffected factor due it's changing behaviour. Customer has to be satisfy and happy with theservices or product of the company otherwise it would be given negative impact on the companysales (Bah and Fang, 2015). Marketing Intermediaries : Mediators play a most crucial role in case when thecompany does not sale the product directly to the consumers. It is necessary for the company tobuild up the good relation with the marketing intermediaries to gain the market opportunity andgrowth. Competition : Competitors are the most essential and effective role players withcompany needs to be maintained good relation. For M&S major market competitors are Zara,H&M, Tesco etc. 1

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