Global Business Management Report
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Added on 2020-04-21
Global Business Management Report
Added on 2020-04-21
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Running head: Global business management Global business management
Global business management Table of ContentsIntroduction.................................................................................................................................................3Significance of marketing............................................................................................................................3Societal marketing concept.........................................................................................................................4Pestle analysis.............................................................................................................................................4SWOT analysis.............................................................................................................................................5Porter five forces analysis............................................................................................................................6Porter five force analysis.............................................................................................................................7Recommendations.......................................................................................................................................7Conclusion...................................................................................................................................................8References...................................................................................................................................................82
Global business management Introduction The report outlines about the trading activities and operations of the Liberty (departmentstore}. It explains that how the firm is achieving its long-term vision and mission of the companyby implementing effective and unique strategies within the organization. The SWOT analysis,Pestle analysis, and porter five model are done by the company to evaluate and identify thecompetitive advantages across the world. Along with this, the report explains that how theLiberty (Department course) is overcoming the competitors and other marketing risks whichexist in the global market. Liberty is a department store on great Marlborough street in the West end of London. Theliberty sells luxury and unique goods including men’s, children fashion, women’s cosmetics andfragrances, accessories, furniture, jewelry, gifts, and stationery. It is known for its graphics andfloral prints. It is a retail industry which was founded in 1875 with its headquarter is located inLondon, United Kingdom. In today’s era, the department store is increasing its profit andrevenue across the world. Arthur Lasenby Liberty is the founder of the department store. Thecompany is expanding and flourishing its trading activities and operations of the liberty withmaintaining sustainability within the organization.Significance of marketing Marketing plays a vital and integral role to attract more consumers in the market globally.Marketing is the effective and dynamic tool to increase and expand to revenue and profit of the company. Along with this, marketing plays a crucial role in establishing a reciprocal and cordial relationship with customers (Grönroos and Ravald, 2011). The marketing takes cares of the brand image across the world. None of the company can survive its business activities and operations across the world without effective and unique marketing in the global market. The marketers help to evaluate and analyze the needs, requirements, and expectation of the consumers. It also helps to create a competitive environment in the market by using marketing strategies around the world (Labrecque and Milne, 2012). 3
Global business management Societal marketing conceptIt is the important concept of marketing. It is the concept which focuses and monitors onthe consumer's needs, requirements and expectations to fulfill the long-term goals and objectivesof the company. It provides benefits to the society also. Under societal marketing, marketerswork for the welfare of the society (Dibb and Carrigan, 2013). This marketing focuses on thebehavior of the customers in the global market. It provides satisfaction to the people byproviding unique and effective products to them. This marketing plays a vital role in Liberty(department store). Pestle analysis Pestle analysis affects the business activities and operations of the organization. PESTLEanalysis is related to the external environment of the firm. The pestle analysis encompassespolitical, economic, social, technological, environmental and legal factors. The pestle analysis ofliberty (department store) has been discussed below (Gupta, 2013). Political factors: The political factors include the rules, regulations, and policies of thegovernment in which the organization has been working. Further, various government policies,import policies, and globalization affect the success and growth of the company. Thus, the firmshould analyze these factors to overcome on the competitors in the global market (Lee, Kim andPark, 2012). Economic factors: The economic factors include the exchange rate, interest rate, inflation rateand GDP influence the liberty (department store). These factors must be evaluated and analyzedby the company while conducting business globally (Yüksel, 2012). Socio-cultural factors: These factors consist culture, values, customs, and behavior of thepeople. These factors influence the trading activities and operations adversely. The firm mustresolve these issues and challenges to overcome on the competitors around the world (Lee, Kimand Park, 2012).Technological factors: Innovation and technology play an integral role to beat the competitorsacross the world. Thus, liberty (department store) should measure these factors to build anddevelop a good image in the global market. 4
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