Business Environment of Primark : Case Study
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Added on 2020-01-07
Business Environment of Primark : Case Study
Added on 2020-01-07
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BUSINESS ENVIRONMENT
Table of ContentsIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 Discussion about business purposes and structure of Primark..................................................31.2 Extensions of objectives considered by Primark to satisfy its stakeholders..............................31.3 Explanations of responsibilities of Primark and its strategies...................................................4Task 2...............................................................................................................................................42.1 Explanation of different economic system of Cuba, United Kingdom and China....................42.2 Impact of fiscal and monetary policy on business organisation and their activities.................52.3 Evaluation of the impact policy other regulatory mechanism on the activities of theorganisation......................................................................................................................................6LO3..................................................................................................................................................63.1 Impact of the market structure on the determination of the pricing and the output decisions ofthe business......................................................................................................................................63.2 Way in which market forces shape organisational responses....................................................73.3 Impact of business and cultural environments on Primark........................................................7LO4..................................................................................................................................................74.1 Significance of international trade to UK business organisation...............................................74.2 Impact of global factor on UK business organisations..............................................................84.3 Impact of policies of the European Union on UK business organisation..................................9Conclusion.......................................................................................................................................9References......................................................................................................................................11
IntroductionBusiness environment can be considered as to initiate and facilitate the business process within aparticular market. In the present discussion, the case study of Primark is established within thecriteria of its business environment. The discussion is based on the business types of Primark andthe objectives of Primark with its strategies within the business structure. There are differentfactors that can affect the business structure, which are discussed within the circumstances ofPrimark. The market segmentations such as monopoly, monopolistic, oligopoly and so on caninfluence the business demand and supplies are also discussed within the study. Therefore themain effect of Brexit within UK market are specifically mentioned and discussed.Task 11.1 Discussion about business purposes and structure of PrimarkEvery business settings are having their own required structure and frame to establish thebusiness coursework within the market. As commented by Carstensen and Toubal (2004, p.16),the structure of business depends upon the purposes and process within the market such ascooperative structure, public sector enterprise and charity organisations. In the context ofPrimark, it can be considered as the public sector enterprise within the different countriesterritory. There are different considerations of the business within the market. Primark isestablished for the association of British Food with the segment occurrence in UK(www.primark.com, 2017). The charity association are dependent upon non profit organisationwithin the market. However, Primark is not a charity organisation. It precedes with the publicofferings to collect the capital facilitation within its business. In the context of cooperativeorganisation, it has only one owner and a sole proprietorship within the market. The company isregarded as the private sectors and Public Sector Company. Primark is stated as the public sectorcompanies as it can the public offerings of the share collection and combined segregation 0fcapital engagement within its business process in the market. Therefore, it can be said that thestructure of business can allocate the main nature and working aspects of the business within themarket and industry.1.2 Extensions of objectives considered by Primark to satisfy its stakeholdersEvery company and organisation has its own various types of stakeholders within the marketsuch as internal and external. As commented by Stafford et al. (2000, p.122), every business
organisation must satisfy all its stakeholders in order to proceed the business smoothly in theparticular environment. There are different internal and external stakeholders of Primark withinthe market. Primark tends to fulfil all needs of its stakeholders. The prime stakeholders ofPrimark are the customers, employees, shareholders, suppliers, environment and society(www.primark.com, 2016). There are different extensions that Primark is considering to satisfyits stakeholders in the industry. Primark have the objectives to satisfy all these stakeholders suchas to provide good quality of products within the customer, to satisfy the suppliers with adequatepricing rates in the purchasing of goods. The company also promotes the employees supportivestructures within the organisation. There are different quality checks, which permitted thecompany to procure best quality of products within the market (www.primark.com, 2016).Primark like to have the franchise offerings in different places so that it can expand the businessand give specified returns to its shareholders (www.primark.com, 2016). Therefore, in order to tosatisfy the stakeholders, Primark has imposed various steps to promote the needs of its allstakeholders in different levels.1.3 Explanations of responsibilities of Primark and its strategiesDifferent necessary responsibilities should take into consideration by different company withinthe market. As commented by Appelbaum and Kamal (2000, p.739), each company having itsown responsibilities against its stakeholders and the legal norms for future existence. In Primark,the responsibilities are said as to facilitate the employees for equal opportunities regarding meritsand promotions within the organisation. The responsibility of Primark is to satisfy the supplierby fair treatment for purchasing products (www.primark.com, 2016). The responsibility ofPrimark is to respect the local communities of the business where is exist in the industry. Theresponsibilities against the environment are also taken very seriously by Primark within themarket and community where it establishes its business. The ethical initiative for trading is alsotaken into consideration by Primark as a responsibility. Therefore, different responsibilities areneed to maintain in a particular organisation to continued with the business process efficientlyand effectively.Task 22.1 Explanation of different economic system of Cuba, United Kingdom and ChinaThe economic systems are different in various countries. As commented by Subramanian andGopalakrishna (2001, p.9), the economic system of different countries may influence the
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