Enhance Business - Next plc

20 Pages7243 Words201 Views

Added on 2020-01-07

Enhance Business - Next plc

Added on 2020-01-07

BookmarkRelated Documents

Business Project

Table of ContentsINTRODUCTION ..........................................................................................................................1Stating the aspects which organization needs to consider while they trade across borders........2Stating the factors or aspects which Next plc should consider when trying to create socialimpact..........................................................................................................................................5Critical evaluation of all the above mentioned aspect and discussing the areas whichorganization needs to consider to enhance their business...........................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13

INTRODUCTION International business refers to all the financial transaction including sales, investmentand transpiration etc. which take place between two or more regions and countries (Abrego,2014). Global business consists of the cross border transaction of the goods or services andresources etc. Besides this, global business transactions also includes the exchange of resourcessuch as capital, people, technology etc. In the present era, cross border business transactionsfacilitate high level of growth and developed of the concerned economy. By exchanging theresources as well as goods or services organization is able to perform their business functionsand activities in an efficient manner (Perkins and Neumayer, 2012). There are several ways ormethods are available to the business entities through which they can transact at global level. Itincludes licensing, joint venture, franchising, strategic allowance etc. These are the mosteffective ways through which individual is able to take entry at global level. In the dynamic business company can build distinct image in the mind of wide segmentof the customers only when they offer their product or services at global level. Internationalbusiness is the most effective medium which enables business enterprise to develop awarenessamong the wide range of customers about the brand which are offered by them (Hernandez,Ibarra and Trupkin, 2014). Through this, company is able to build their global presence andthereby maximizes the productivity and profitability aspects. Corporation can survive in themarket only when they serve more regions and nations. This project report is based upon Next plc which is the major British multinational ofUK. It offers clothing, footwear, food and home products to their customers at reasonable prices.Next plc has 700 stores all over the world and thereby offers wide group of customers. Inaddition to this, Next plc is the largest clothing retailer in terms of sales (Cavusgil and et.al.,2014). Company has overtaken Marks & Spencer and thereby builds or sustains competitiveadvantage in the strategic business arena. It is also listed on the recognized stock exchange ofLondon namely FTSE 100 index. Through this, it offers shares to the large group of people. Oneof the objectives of firm is to maximize their sales and gross margin by satisfying the needs,wants as well as desires of the customers. Besides this, Next plc offers employment opportunityto the individual by setting up the stores at different places of the world. This aspect reflects thatbusiness unit makes remarkable contribution in the growth and development of the country(Domínguez-Gómez, 2016).1

The present report will discuss the position of Next plc over its competitors in the variousmarket of the country in which they offer their product or services. Further, the present reportwill develop understanding about the aspects which organization needs to consider when theymake cross border business transactions (Dunning, 2013). It enables organization to expand theirbusiness operations and functions in the right market which helps it in getting the desired level ofoutcome or profit. In addition to this, the report will shed light on the factors which companyneeds to consider while making efforts to create social impact.Stating the aspects which organization needs to consider while they trade across bordersCross border trade refers to the buying and selling of goods and services in othercountries irrespective of their home country. In this, seller belongs to one specific country andbuyer belongs to other region or country. Cross border transactions provide benefit to theorganization as well as the person who live in that country (Kayser and Peress, 2012). Usuallycompanies prefer to import the goods or services from other nations when it is very costly forthem to manufacture in their home country. In addition to this, company also makes export ofgoods or services when they attain high profitability by serving the people of other nations. Allthese reasons compel Next plc to make cross border transactions and thereby takes benefit fromit. In order to analyze the factors which have high level of influence upon the global businesstransaction Next plc undertakes PESTLE analysis. Through this, company is able to identify theextent to which political, economical, social, technological. Legal and environmental factoraffects the growth and success of Next plc. Thus, by taking into account this theory Next plc isable to build or sustain competitive edge in the global by performing the business operations orfunctions in an effectual manner.Before entering into the global market company needs to make assessment of severalfactors which are highly associated with their growth and development aspect. There are severalaspects which Next plc needs to taken into considerations while making the cross bordertransactions is as follows:Next plc require making international business plan in relation to the country in which itis planning to open up new store. Company can attain success in the global market onlywhen they have well defined plan for the establishment (Folsom and et.al., 2013.). Thereare several resources which are needed by the firm to manufacture the product orservices. It includes financial, human and other resources which are essential for the2

End of preview

Want to access all the pages? Upload your documents or become a member.

Business Project of Next Plc

|17

|6409

|46

Business and Economics of Next Plc - Report

|25

|6080

|363

Business Analysis Of Next Plc - Economics

|16

|6058

|215

Significance of International Trade, Impact of Global Factors and EU Policies on Next Plc

|12

|818

|132

Principles of Practice Marketing for Next plc: Applying SOSTAC Model and Porter's Five Forces Analysis

|15

|4673

|391

Challenges and Considerations for Next Plc in Cross Border Trading and Creating a Positive Social Impact

|16

|5454

|113

Enhance Business - Next plc