Business Environment Analysis and Strategy
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This assignment delves into the concept of the business environment and how it shapes organizational strategy. It requires students to conduct a thorough PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) analysis to identify key factors influencing a chosen industry or business. The analysis should explore how these factors can impact an organization's success and inform its strategic decision-making.
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Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
COVERED IN PPT.....................................................................................................................1
P3 Organizational functions connected to the objectives...........................................................1
PART 2............................................................................................................................................2
P4Positive and negative impact of macro environment .............................................................2
P5 Internal and external analysis to identify strength and weakness of organisation.................5
P6Strength and weakness are link with macro environment factor:...........................................7
M3Impact of PESTLE analysis on Marks and Spencer:.............................................................8
M4...............................................................................................................................................9
D2..............................................................................................................................................10
CONCLUSIONS............................................................................................................................11
REFERENCES..............................................................................................................................12
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
COVERED IN PPT.....................................................................................................................1
P3 Organizational functions connected to the objectives...........................................................1
PART 2............................................................................................................................................2
P4Positive and negative impact of macro environment .............................................................2
P5 Internal and external analysis to identify strength and weakness of organisation.................5
P6Strength and weakness are link with macro environment factor:...........................................7
M3Impact of PESTLE analysis on Marks and Spencer:.............................................................8
M4...............................................................................................................................................9
D2..............................................................................................................................................10
CONCLUSIONS............................................................................................................................11
REFERENCES..............................................................................................................................12
INTRODUCTION
The business environment of an business corporation comprises of the culture, ethics and
the moral and the values and also the rules and the regulatory norms pertaining to the corporate
and the related activities Business environment comprises of the ethics, culture and the rules and
the regulatory norms which are concerning and are important for the business organization and
its growth and development. The format or the organizational structure also comprises of the
political, legal, social, technological and the environmental factors and the other factor such as
the consumers, suppliers, competitors and the government and these both the factors can be
utilised for the enhancement and betterment of the firm (Teece, 2010). The present report is
focused on the analysis which has been carried out on Marks and Spencer's which is a British
Multinational retailer of fashionable clothing which has an objective of consumer satisfaction at
the top priority. The below presented report is focused on the purpose of the above stated
organization and also their size and scope . Further the organizational functions has been
explained which has been connected to the objectives and the structure of the company.
The business environment of an business corporation comprises of the culture, ethics and
the moral and the values and also the rules and the regulatory norms pertaining to the corporate
and the related activities Business environment comprises of the ethics, culture and the rules and
the regulatory norms which are concerning and are important for the business organization and
its growth and development. The format or the organizational structure also comprises of the
political, legal, social, technological and the environmental factors and the other factor such as
the consumers, suppliers, competitors and the government and these both the factors can be
utilised for the enhancement and betterment of the firm (Teece, 2010). The present report is
focused on the analysis which has been carried out on Marks and Spencer's which is a British
Multinational retailer of fashionable clothing which has an objective of consumer satisfaction at
the top priority. The below presented report is focused on the purpose of the above stated
organization and also their size and scope . Further the organizational functions has been
explained which has been connected to the objectives and the structure of the company.
PART 1
P1 and P2
P1 and P2
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The format or the organizational structure also comprises of the political, legal, social,
technological and the environmental factors and the other factor such as the consumers,
suppliers, competitors and the government and these both the factors can be utilised for the
enhancement and betterment of the firm. The present report is focused on the analysis which has
been carried out on Marks and Spencer's which is a British Multinational retailer of fashionable
clothing which has an objective of consumer satisfaction at the top priority. The below presented
report is focused on the purpose of the above stated organization and also their size and scope .
Further the organizational functions has been explained which has been connected to the
objectives and the structure of the company.
technological and the environmental factors and the other factor such as the consumers,
suppliers, competitors and the government and these both the factors can be utilised for the
enhancement and betterment of the firm. The present report is focused on the analysis which has
been carried out on Marks and Spencer's which is a British Multinational retailer of fashionable
clothing which has an objective of consumer satisfaction at the top priority. The below presented
report is focused on the purpose of the above stated organization and also their size and scope .
Further the organizational functions has been explained which has been connected to the
objectives and the structure of the company.
The company is a private corporation so profit maximisation with the expansion of the business
activities to a extreme limit can be considered as a general purpose of the business.
The purpose of the business also considers a sense of social responsibility and which has been
attained by taking into consideration the needs and demands and the necessary requirements of
the consumers.
activities to a extreme limit can be considered as a general purpose of the business.
The purpose of the business also considers a sense of social responsibility and which has been
attained by taking into consideration the needs and demands and the necessary requirements of
the consumers.
The second most purpose which is on priority, is taking care of all the social and political
responsibilities as the entity is a public owned body. By fulfilling this responsibility the company
has build a positive image in the minds of the consumers.
Moreover the expansion and establishment of the business entity globally at a larger extent and
also in the new regions and this will also bring an enhancement in the market share.
responsibilities as the entity is a public owned body. By fulfilling this responsibility the company
has build a positive image in the minds of the consumers.
Moreover the expansion and establishment of the business entity globally at a larger extent and
also in the new regions and this will also bring an enhancement in the market share.
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The second most purpose which is on priority, is taking care of all the social and political
responsibilities as the entity is a public owned body. By fulfilling this responsibility the company
has build a positive image in the minds of the consumers.
Moreover the expansion and establishment of the business entity globally at a larger extent and
also in the new regions and this will also bring an enhancement in the market share.
responsibilities as the entity is a public owned body. By fulfilling this responsibility the company
has build a positive image in the minds of the consumers.
Moreover the expansion and establishment of the business entity globally at a larger extent and
also in the new regions and this will also bring an enhancement in the market share.
Business Objectives
Marks and Spencer's: The company is a growing entity and has an objective to reach the
limits of pre-determined objectives. Marks and Spencer have developed long term plans,
strategies, goals and objectives and which are crucial and are essentially required to be attained.
The business corporation has a great goodwill in the market and also owns a large market share
with its diversified rang of apparels and food products. The competitive advantage of the
company is that a large range of products with innovate and latest design clothing for its
diversified range of products. Marks and Spencer is a larger business entity as compared to
Marks and Spencer's: The company is a growing entity and has an objective to reach the
limits of pre-determined objectives. Marks and Spencer have developed long term plans,
strategies, goals and objectives and which are crucial and are essentially required to be attained.
The business corporation has a great goodwill in the market and also owns a large market share
with its diversified rang of apparels and food products. The competitive advantage of the
company is that a large range of products with innovate and latest design clothing for its
diversified range of products. Marks and Spencer is a larger business entity as compared to
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Diabetes UK; It is a charity organisation working for dibetic patinets, they are providing helps to
these peoples. As well as they are conducting seminares in public domain to create a public
awreness on this diseas. They want to reduce death by this diseas so they are making regular
campaign on this. This leagal entity and they can make deals for properties and make contracts to
enlarge their services.
The below mentioned are the Mission statement of Marks and Spencer's which has been
designed as per the requirements of the consumers:
Stakeholders should be given respect and kept on top priority.
Attaining excellence with expertise.
Providing the best services to the consumers for their ultimate satisfaction.
Diabetes UK: The organisation is a public service and working as a NGO, providing their
services for dibetic patiesnts and peoples who can be dibetic patients in the UK. The organisation
strives to provide the best quality of services to the patients through their volenteers. The
organisation is limited in many terms as compared to Marks and Spencer's as the company has a
these peoples. As well as they are conducting seminares in public domain to create a public
awreness on this diseas. They want to reduce death by this diseas so they are making regular
campaign on this. This leagal entity and they can make deals for properties and make contracts to
enlarge their services.
The below mentioned are the Mission statement of Marks and Spencer's which has been
designed as per the requirements of the consumers:
Stakeholders should be given respect and kept on top priority.
Attaining excellence with expertise.
Providing the best services to the consumers for their ultimate satisfaction.
Diabetes UK: The organisation is a public service and working as a NGO, providing their
services for dibetic patiesnts and peoples who can be dibetic patients in the UK. The organisation
strives to provide the best quality of services to the patients through their volenteers. The
organisation is limited in many terms as compared to Marks and Spencer's as the company has a
large extent of government interference and the company is also owned and managed by the
governing bodies and also the controlling power and all the implementation of the policies and
the operational activities of the organization. The company operates in a pre-determined
organizational structure and also the risk factor involved in the company is limited in comparison
to the private entity. The below mentioned are the objectives which are to be attained by the
business corporation:
Serve the consumers with a quality range of products.
Providing best after sales services so as to build a strong with the consumers.
Satisfaction of the stakeholders.
Expansion of business activities and establishment business in new markets.
Providing brand value to the consumers.
governing bodies and also the controlling power and all the implementation of the policies and
the operational activities of the organization. The company operates in a pre-determined
organizational structure and also the risk factor involved in the company is limited in comparison
to the private entity. The below mentioned are the objectives which are to be attained by the
business corporation:
Serve the consumers with a quality range of products.
Providing best after sales services so as to build a strong with the consumers.
Satisfaction of the stakeholders.
Expansion of business activities and establishment business in new markets.
Providing brand value to the consumers.
P3 Organizational functions connected to the objectives
The business carry out various functions and also have sets of roles and responsibilities
which are necessarily needed to be attained and performed by the organization. An organization
has various kind of roles and responsibilities which comprises of, sales, marketing, finance and
production etc.
The main function of the purchasing of this department that they have to make the contact with
the suppliers of their products (Chumpitaz Caceres and Paparoidamis, 2007).
Sales department is the important and essential part of the company on this company's
performance depends. These functions involved the direct interactions and communication
with the consumer.
The main objective of operation department is that they have to make the efficiency and the
productivity of the entity which helps in attaining the success and goals.
The business carry out various functions and also have sets of roles and responsibilities
which are necessarily needed to be attained and performed by the organization. An organization
has various kind of roles and responsibilities which comprises of, sales, marketing, finance and
production etc.
The main function of the purchasing of this department that they have to make the contact with
the suppliers of their products (Chumpitaz Caceres and Paparoidamis, 2007).
Sales department is the important and essential part of the company on this company's
performance depends. These functions involved the direct interactions and communication
with the consumer.
The main objective of operation department is that they have to make the efficiency and the
productivity of the entity which helps in attaining the success and goals.
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Research department is also important part of the entity by this only entity members can find out
the requirements, wants and demand of the entity which helps in attaining the goals and
targets along with the performance in the market. They have to collect the information with
having the separate department to conduct the market research and the consumer survey
(Palmer and Hartley, 2008).
Along with this the organisation members have to use the proper structure which helps in
attaining the success and targets. Diabetes UK is the charity organisation which follows the
functional structure. This structure is the most common which helps the entity in attaining the
success. By this, the structure of the entity is divided into different departments on the basis of
the functions. By this charity organisation is providing better services in public domain. Each
and every function is lead by functional manager by which they have to do the work with the
proper coordination and have to do the proper communication with the subordinate and their top
management. Their top level management can easily communicate their orders to their
volunteers which are arranged in different management level. This structure is very important
for the organisation where the clear chain of command. But this structure having some
disadvantages which include lack of communication and coordination between the various
department.
Mark & Spencer is the private limited company which follow the divisional structure and
it is also useful in attaining the goals and targets (Worthington and Britton, 2015). In this type of
structure they have to make the segments in the different departments on the basis of
geographical area or product. In this all the members having their own authorities and have to
complete the work in the given time. The advantage of this structure is that they have their own
resources and authorities so that they can perform their job. Disadvantage of this structure is that
they have to increase the redundancy and inefficiency within the entity.
PART 2
P4Positive and negative impact of macro environment
External or macro business environment known as the PESTEL analysis. In this kind of
organisational research help to understand the outsider factors that affect the functions of
business in both way positive and negative so company manager should develop effective
planning to minimise adverse impact of it (Cantwell, Dunning and Lundan, 2010). The external
the requirements, wants and demand of the entity which helps in attaining the goals and
targets along with the performance in the market. They have to collect the information with
having the separate department to conduct the market research and the consumer survey
(Palmer and Hartley, 2008).
Along with this the organisation members have to use the proper structure which helps in
attaining the success and targets. Diabetes UK is the charity organisation which follows the
functional structure. This structure is the most common which helps the entity in attaining the
success. By this, the structure of the entity is divided into different departments on the basis of
the functions. By this charity organisation is providing better services in public domain. Each
and every function is lead by functional manager by which they have to do the work with the
proper coordination and have to do the proper communication with the subordinate and their top
management. Their top level management can easily communicate their orders to their
volunteers which are arranged in different management level. This structure is very important
for the organisation where the clear chain of command. But this structure having some
disadvantages which include lack of communication and coordination between the various
department.
Mark & Spencer is the private limited company which follow the divisional structure and
it is also useful in attaining the goals and targets (Worthington and Britton, 2015). In this type of
structure they have to make the segments in the different departments on the basis of
geographical area or product. In this all the members having their own authorities and have to
complete the work in the given time. The advantage of this structure is that they have their own
resources and authorities so that they can perform their job. Disadvantage of this structure is that
they have to increase the redundancy and inefficiency within the entity.
PART 2
P4Positive and negative impact of macro environment
External or macro business environment known as the PESTEL analysis. In this kind of
organisational research help to understand the outsider factors that affect the functions of
business in both way positive and negative so company manager should develop effective
planning to minimise adverse impact of it (Cantwell, Dunning and Lundan, 2010). The external
elements included Political, economical, social, technological, legal and environment that are
described as per under;
Source: PESTLE analysis
Political component: these element covers all the various rules and regulations that
impose by the local and national government of country. Political environment included various
laws regarding labour, climates, taxes policies, changing in ruling party attitude affect
operations. Each and every nation have different policies for the business. At international trade
operations company face more restrictions during running their commercial to achieve goals and
objectives (Sørensen, 2012). In the present scenario Marks and Spencer is leading company in
United Kingdom that dealing at global level so enterprise face some negative treatment in few
countries especially in gulf region because the relationship of home and host is critical. In
western zone organisation have increase its business due liberal approach of political parties in
its activities and company can easily increasing its Market share.
Economical component: business operations directly affect by economic situation of
country. In this environmental factor included that stability of economy, inflation, interest and
exchange rates that impact on company profit and growth by identification need of customer and
deliver their desire. In the present scenario the Marks and Spencer is forefront enterprise and
global recognised brand face some difficulty in less developing countries because poor
infrastructure and lower and unskilled employees that increase cost of production of company. In
South Asian zone it can increase its Market-share because large consumer and fastest growing
economies. To avoid negative impact of this environmental factor top management develop
effective strategies by conduct research (Hammer and Champy, 2009).
Illustration 1: PESTLE ANALYSIS
described as per under;
Source: PESTLE analysis
Political component: these element covers all the various rules and regulations that
impose by the local and national government of country. Political environment included various
laws regarding labour, climates, taxes policies, changing in ruling party attitude affect
operations. Each and every nation have different policies for the business. At international trade
operations company face more restrictions during running their commercial to achieve goals and
objectives (Sørensen, 2012). In the present scenario Marks and Spencer is leading company in
United Kingdom that dealing at global level so enterprise face some negative treatment in few
countries especially in gulf region because the relationship of home and host is critical. In
western zone organisation have increase its business due liberal approach of political parties in
its activities and company can easily increasing its Market share.
Economical component: business operations directly affect by economic situation of
country. In this environmental factor included that stability of economy, inflation, interest and
exchange rates that impact on company profit and growth by identification need of customer and
deliver their desire. In the present scenario the Marks and Spencer is forefront enterprise and
global recognised brand face some difficulty in less developing countries because poor
infrastructure and lower and unskilled employees that increase cost of production of company. In
South Asian zone it can increase its Market-share because large consumer and fastest growing
economies. To avoid negative impact of this environmental factor top management develop
effective strategies by conduct research (Hammer and Champy, 2009).
Illustration 1: PESTLE ANALYSIS
Social component: profit and Market-share of each and every business organisation
directly affect by perception and attitude of community. Social factor covers those are relate with
society such as the growth of population, health consciousness and age of customers. In the
present scenario of Marks and Spencer have positive approach from their customer. Company
use consumer oriented policy and strategies in their selling and distribution of its goods. The
skilled employee and female staff of front-line sale helps provide better satisfaction to store and
showroom visitors. For example demand of gold and cloths rapidly increase during festive and
wedding season in India.
Technological component: the role of technology is crucial in modern business world. It
is necessary to each and every organisation to understand innovation in machinery. It is
importance to all corporation to use advance tools and equipments to manufacture and
operational activities of goods and services. In the present scenario Marks and Spencer using
better technique to deliver it values to target customers. Company adopted advertising and public
relationship in its Marketing activities, online and offline source as channel for distribution of
product (Carroll and Buchholtz, 2014).
Legal component: role of law and legislation affect commercial activities of each and
every organisation. In this macro environmental element include the various acts such as the
health and safety, equal opportunity, fair wages and working flexibility. It is crucial to all
company to adopted all laws of local and national government during running commercial
activities in the absent ism of these they can suffer by facing legal case by employees, customer,
public organisation. Today business world the discrimination is major issue that affect the moral
of workers and create conflict among them. It takes place on the basis of religion, race, gender,
disability and age of subordinates. For example if the top management treat unfair female staff
in paying remuneration and assign role and responsibility of work it called the gender
discrimination. The legal body of Marks and Spencer time to review to check presence of
unlawful activities and take suitable actions to prevent it.
Environmental component: it is relate with weather of specific region. In this macro
factor all the climate related factors are included such as the pollution and other element of
nature. Present scenario Marks and Spencer fulfil ethical responsibility by promoting awareness
for environment (Johanson and Vahlne, 2009). Company deliver less harmful product to mass
market.
directly affect by perception and attitude of community. Social factor covers those are relate with
society such as the growth of population, health consciousness and age of customers. In the
present scenario of Marks and Spencer have positive approach from their customer. Company
use consumer oriented policy and strategies in their selling and distribution of its goods. The
skilled employee and female staff of front-line sale helps provide better satisfaction to store and
showroom visitors. For example demand of gold and cloths rapidly increase during festive and
wedding season in India.
Technological component: the role of technology is crucial in modern business world. It
is necessary to each and every organisation to understand innovation in machinery. It is
importance to all corporation to use advance tools and equipments to manufacture and
operational activities of goods and services. In the present scenario Marks and Spencer using
better technique to deliver it values to target customers. Company adopted advertising and public
relationship in its Marketing activities, online and offline source as channel for distribution of
product (Carroll and Buchholtz, 2014).
Legal component: role of law and legislation affect commercial activities of each and
every organisation. In this macro environmental element include the various acts such as the
health and safety, equal opportunity, fair wages and working flexibility. It is crucial to all
company to adopted all laws of local and national government during running commercial
activities in the absent ism of these they can suffer by facing legal case by employees, customer,
public organisation. Today business world the discrimination is major issue that affect the moral
of workers and create conflict among them. It takes place on the basis of religion, race, gender,
disability and age of subordinates. For example if the top management treat unfair female staff
in paying remuneration and assign role and responsibility of work it called the gender
discrimination. The legal body of Marks and Spencer time to review to check presence of
unlawful activities and take suitable actions to prevent it.
Environmental component: it is relate with weather of specific region. In this macro
factor all the climate related factors are included such as the pollution and other element of
nature. Present scenario Marks and Spencer fulfil ethical responsibility by promoting awareness
for environment (Johanson and Vahlne, 2009). Company deliver less harmful product to mass
market.
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P5 Internal and external analysis to identify strength and weakness of organisation.
Internal or micro study known as the Swot research that provide the essential information
about the strength, opportunities along with threats and weakness of company. By using the
concept of Swot organisation can develop best strategies to increase its strength and assist to
eliminate negative aspect of company. The following factors are described as per under;
Strength: In the present scenario Marks and Spencer have large number of loyal
customer to purchase goods of organisation that help to increase their market-share. Global
recognised brand name and variety in product range help to enterprise to increase it profit.
Skilled employees is another major strength of Marks and Spencer the front-line sales persons
helps to provide higher level of customer satisfaction to store visitors that assist to organisation
to retain them and enhance image of company (Klapper, Lewin and Delgado, 2011). Corporation
use latest technology in its marketing of product and service, they promote goods through
advertising on social and print media. Internet website such as the YouTube, Facebook, Twitter,
Instagram are major source of visual promotion and various newspapers and magazines used by
enterprise to create awareness about innovative and new launching commodity. Working culture
of organisation is good that motivate employees to perform assigned role and responsibilities to
achieve goals and objectives of Marks and Spencer.
Weakness: the major weakness in present scenario poor communication between top and
bottom management of corporation that create misunderstanding. It becomes cause of lower
productivity and decrease moral of employee. Poor coordination arise conflict among the
employees. The proper research and training program to new worker help to minimise weakness
of company. Another major weakness of Marks and Spencer is prevent their imitate because as
famous brand it is liability of company to provide necessary information to customer about fake
products which are selling in the market on company name (Carroll and Shabana, 2010).
Organisation spent huge amount on training and development program for new and unskilled
employees to increase their productivity and efficiency to enhance sales revenue through
reducing operational cost of product.
Opportunity: in the present scenario of Marks and Spencer the leading retail company in
the United Kingdom enterprise have opportunities to increase their store within England and in
outside the country. As the global representative company can offer its product in new region in
Internal or micro study known as the Swot research that provide the essential information
about the strength, opportunities along with threats and weakness of company. By using the
concept of Swot organisation can develop best strategies to increase its strength and assist to
eliminate negative aspect of company. The following factors are described as per under;
Strength: In the present scenario Marks and Spencer have large number of loyal
customer to purchase goods of organisation that help to increase their market-share. Global
recognised brand name and variety in product range help to enterprise to increase it profit.
Skilled employees is another major strength of Marks and Spencer the front-line sales persons
helps to provide higher level of customer satisfaction to store visitors that assist to organisation
to retain them and enhance image of company (Klapper, Lewin and Delgado, 2011). Corporation
use latest technology in its marketing of product and service, they promote goods through
advertising on social and print media. Internet website such as the YouTube, Facebook, Twitter,
Instagram are major source of visual promotion and various newspapers and magazines used by
enterprise to create awareness about innovative and new launching commodity. Working culture
of organisation is good that motivate employees to perform assigned role and responsibilities to
achieve goals and objectives of Marks and Spencer.
Weakness: the major weakness in present scenario poor communication between top and
bottom management of corporation that create misunderstanding. It becomes cause of lower
productivity and decrease moral of employee. Poor coordination arise conflict among the
employees. The proper research and training program to new worker help to minimise weakness
of company. Another major weakness of Marks and Spencer is prevent their imitate because as
famous brand it is liability of company to provide necessary information to customer about fake
products which are selling in the market on company name (Carroll and Shabana, 2010).
Organisation spent huge amount on training and development program for new and unskilled
employees to increase their productivity and efficiency to enhance sales revenue through
reducing operational cost of product.
Opportunity: in the present scenario of Marks and Spencer the leading retail company in
the United Kingdom enterprise have opportunities to increase their store within England and in
outside the country. As the global representative company can offer its product in new region in
nation and at international level. Availability of necessary resource help to Marks and Spencer to
design new goods for various market segment to increase market-share and sustainable growth
for corporation (Black, Clemmensen and Skov, 2010).
Threats: In present scenario high market competition is major threat for Marks and
Spencer that affect profit and growth of company. The lower price of strategies by rivalries
easily cut market-share of organisation. New entrance also impact on business of corporation
their cheap cost goods captured customer and sales revenue of enterprise decline. To avoid this
threats top management of firm require conduct necessary market research to identify
competitors strength and weakness to get competitive advantages.
Strength and weakness of Marks and Spencer in external environment:
As the global recognise company has large market-share that help to reduce their cost of
offered product low to retain and prevent their customer. The effective management team assist
to understand the impact of political environmental in future commercial operations so they can
preplan suitable alternative to avoid uncertainty which can create difficulty in selling of goods of
organisation (Griffin and Pustay, 2012). Availability of financial and human resource help to
perform all the essential functions of enterprise to deliver higher satisfaction to customer by
solving queries during pre-purchase and post-purchase. Social attitude is positive toward
company that help to expand its operations in new area to achieve sustainable growth. Marks and
Spencer using advance and innovative tools in marketing and customer relation to get their
feedback to know expectations from goods and service. The working condition favourable there
is no discrimination among employees for their race, religion, nationality and gender. Company
higher workers according requirement and skills of personal. Top management support to all
subordinates for their personal and professional development. The leadership and teamwork
culture create health competition among all employees of Marks and Spencer that help to
company to achieve sustainable growth (Chow and et.al., 2011). In the present scenario
organisation consider environmental concern in it business activities that aid to win social and
government trust. The poor communication system is major weakness for enterprise that lead
negative relationship between top and bottom management which impact moral of subordinates
another fragile is higher cost spent by company to provide training and development program to
enhance skills of new employees.
design new goods for various market segment to increase market-share and sustainable growth
for corporation (Black, Clemmensen and Skov, 2010).
Threats: In present scenario high market competition is major threat for Marks and
Spencer that affect profit and growth of company. The lower price of strategies by rivalries
easily cut market-share of organisation. New entrance also impact on business of corporation
their cheap cost goods captured customer and sales revenue of enterprise decline. To avoid this
threats top management of firm require conduct necessary market research to identify
competitors strength and weakness to get competitive advantages.
Strength and weakness of Marks and Spencer in external environment:
As the global recognise company has large market-share that help to reduce their cost of
offered product low to retain and prevent their customer. The effective management team assist
to understand the impact of political environmental in future commercial operations so they can
preplan suitable alternative to avoid uncertainty which can create difficulty in selling of goods of
organisation (Griffin and Pustay, 2012). Availability of financial and human resource help to
perform all the essential functions of enterprise to deliver higher satisfaction to customer by
solving queries during pre-purchase and post-purchase. Social attitude is positive toward
company that help to expand its operations in new area to achieve sustainable growth. Marks and
Spencer using advance and innovative tools in marketing and customer relation to get their
feedback to know expectations from goods and service. The working condition favourable there
is no discrimination among employees for their race, religion, nationality and gender. Company
higher workers according requirement and skills of personal. Top management support to all
subordinates for their personal and professional development. The leadership and teamwork
culture create health competition among all employees of Marks and Spencer that help to
company to achieve sustainable growth (Chow and et.al., 2011). In the present scenario
organisation consider environmental concern in it business activities that aid to win social and
government trust. The poor communication system is major weakness for enterprise that lead
negative relationship between top and bottom management which impact moral of subordinates
another fragile is higher cost spent by company to provide training and development program to
enhance skills of new employees.
P6Strength and weakness are link with macro environment factor:
External elements are directly affect profit and growth of each and every business
enterprise. It is crucial for all organisation to understand these and make suitable adjustment in
their planning and strategies such as marketing, selling and distribution of product and services.
These following factors are included in PESTLE analysis;
Political element: government policies impact on trade function of each firm. Taxes and
other rules and regulation. In the present scenario Marks and Spencer adopt all protocols (Chi,
Kilduff and Gargeya, 2009).
Economical elements: it refers all components of economy such as the inflation, interest,
import-export and employment rates. Profit and growth of company directly influence by these
elements.
Social elements: attitude of community affect the buying behaviour of consumer.
Culture, belief, customs and values are involved in this external components. To avoid negative
impact of this element top management of company should evaluate social interest to achieve
sustainable growth and profit.
Technological elements: changes in technology disturb profit and growth of organisation
along with market-share of enterprise (Dyer and Ross, 2008). In promoting goods and service
organisation use new source of media such as the social platform like Facebook, YouTube,
Twitter and Instagram along with newspapers and magazines to create awareness among the
customer. To increase the convenience corporation provide online and offline system of buying.
Mostly youth are gadget friendly so they prefer internet shopping approach.
Legal elements: various law and legislations regarding health and safety, wages, equality
in paying and growth opportunities. These macro factor also influence business of each
organisations.
Environmental elements: in present time changing attitude of consumers affect
company growth. Now people are more aware for climate it is very essential for enterprise to
consider climate factor in firm's commercial activities (Wu, 2009).
Strength and weakness of Marks and Spencer: loyalty of customers is major strength
of organisation. Consumer have positive attitude toward goods and service of company help to
increase its market-share and profit by satisfy the demand of customer. Marks and Spencer have
range of product to attract large number of customer. Political stability helps to enterprise to
External elements are directly affect profit and growth of each and every business
enterprise. It is crucial for all organisation to understand these and make suitable adjustment in
their planning and strategies such as marketing, selling and distribution of product and services.
These following factors are included in PESTLE analysis;
Political element: government policies impact on trade function of each firm. Taxes and
other rules and regulation. In the present scenario Marks and Spencer adopt all protocols (Chi,
Kilduff and Gargeya, 2009).
Economical elements: it refers all components of economy such as the inflation, interest,
import-export and employment rates. Profit and growth of company directly influence by these
elements.
Social elements: attitude of community affect the buying behaviour of consumer.
Culture, belief, customs and values are involved in this external components. To avoid negative
impact of this element top management of company should evaluate social interest to achieve
sustainable growth and profit.
Technological elements: changes in technology disturb profit and growth of organisation
along with market-share of enterprise (Dyer and Ross, 2008). In promoting goods and service
organisation use new source of media such as the social platform like Facebook, YouTube,
Twitter and Instagram along with newspapers and magazines to create awareness among the
customer. To increase the convenience corporation provide online and offline system of buying.
Mostly youth are gadget friendly so they prefer internet shopping approach.
Legal elements: various law and legislations regarding health and safety, wages, equality
in paying and growth opportunities. These macro factor also influence business of each
organisations.
Environmental elements: in present time changing attitude of consumers affect
company growth. Now people are more aware for climate it is very essential for enterprise to
consider climate factor in firm's commercial activities (Wu, 2009).
Strength and weakness of Marks and Spencer: loyalty of customers is major strength
of organisation. Consumer have positive attitude toward goods and service of company help to
increase its market-share and profit by satisfy the demand of customer. Marks and Spencer have
range of product to attract large number of customer. Political stability helps to enterprise to
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develop suitable planning ans strategies for marketing, selling and distribution of goods of
organisation. In present time after the Brexit company face new rules and regulation of United
Kingdom government that increase stress in business of firm (Wheelen and Hunger, 2011).
Leading brand is strength of corporation, availability of fund help to Marks and Spencer to
reduce impact of recession, it helps to association to maintain its operations. Positive buying
behaviour of consumer is fruitful for Marks and Spencer in achieving goals and objectives, top
management of enterprise always consider interest of society which is beneficial for organisation
during international business operations perception and culture of host countries affect it
commercial functions in both way in western nation favourable situations but in gulf regions
company need adjustment in trade activities according to requirements. Company using advance
tools and techniques in promoting product and service through innovative way, marketing
department adopt arrange events, trade fair, exhibition along with social and print media. Some
issue Marks and Spencer facing due to lack of communication among the top and bottom
management that decrease the productivity and moral of employees and arise the possibility of
conflict in lower department (Welford, 2013). Training cost is another major difficulty for
organisation they spent huge amount on development program to sharp ability of worker to
achieve goals and objectives during international operational company face various laws of
different nations that create problem to make necessary adjustment in planning and strategies
regarding marketing, selling and distribution of goods and service of Marks and Spencer.
Company can overcome on its weaknesses by conduct research employees feedback helps to
remove the barriers of communication that assist to organisation to achieve sustainable profit and
market-share.
M3 Impact of PESTLE analysis on Marks and Spencer:
It is model that provide essential information about outsider factors that affect business
function of organisation. The impact of external environmental factor in decision making of
Marks and Spencer are described as per under;
Political impact and decision making: changes in policy of government force to
organisation to adjustment in business planning and strategies to achieve goals and objectives of
enterprise (Dong, Wu and Hou, 2009). For example if the tax rate increase so company's product
and service price will increase. Top management of firm take decision after review the impact of
political intervention.
organisation. In present time after the Brexit company face new rules and regulation of United
Kingdom government that increase stress in business of firm (Wheelen and Hunger, 2011).
Leading brand is strength of corporation, availability of fund help to Marks and Spencer to
reduce impact of recession, it helps to association to maintain its operations. Positive buying
behaviour of consumer is fruitful for Marks and Spencer in achieving goals and objectives, top
management of enterprise always consider interest of society which is beneficial for organisation
during international business operations perception and culture of host countries affect it
commercial functions in both way in western nation favourable situations but in gulf regions
company need adjustment in trade activities according to requirements. Company using advance
tools and techniques in promoting product and service through innovative way, marketing
department adopt arrange events, trade fair, exhibition along with social and print media. Some
issue Marks and Spencer facing due to lack of communication among the top and bottom
management that decrease the productivity and moral of employees and arise the possibility of
conflict in lower department (Welford, 2013). Training cost is another major difficulty for
organisation they spent huge amount on development program to sharp ability of worker to
achieve goals and objectives during international operational company face various laws of
different nations that create problem to make necessary adjustment in planning and strategies
regarding marketing, selling and distribution of goods and service of Marks and Spencer.
Company can overcome on its weaknesses by conduct research employees feedback helps to
remove the barriers of communication that assist to organisation to achieve sustainable profit and
market-share.
M3 Impact of PESTLE analysis on Marks and Spencer:
It is model that provide essential information about outsider factors that affect business
function of organisation. The impact of external environmental factor in decision making of
Marks and Spencer are described as per under;
Political impact and decision making: changes in policy of government force to
organisation to adjustment in business planning and strategies to achieve goals and objectives of
enterprise (Dong, Wu and Hou, 2009). For example if the tax rate increase so company's product
and service price will increase. Top management of firm take decision after review the impact of
political intervention.
Marketing and other activities based on this factors.
Economical impact and decision-making: instability of economic situation force to
administrative to make changes in pricing strategy. For example if increase the inflation rate the
monetary value of goods will be high. To avoid adverse impact of this element the management
of company study of economic condition and take suitable decision for increase the market-share
and sales revenue of organisation.
Social impact and decision-making: community attitude affect the business activities of
Marks and Spencer, the social attitude is positive toward the enterprise help to achieve
sustainable growth and profit (Aterido, Hallward-Driemeier and Pagés, 2011). The management
of firm still focus on taking decision to improve the level of satisfaction by deliver qualitative
service experience during pre-purchase and post-purchase process.
Technological impact and decision making: this element help to administration to
understand the innovation in techniques of machinery to develop or create the value at lower cost
that assist to offer cheap pricing strategies to cover maximum number of buyer. Organisation
made decision of adopting new approaches of promotion and purchase service. In marketing
activities Marks and Spencer using social media to create awareness at large scale.
Environmental impact and decision-making: due to awareness of people toward the
climate now most of companies consider the environmental issue in their business strategies such
as the production. In the present report of Marks and Spencer higher authority take decision to
protect the weather from harm. Company focus to secure the environment from various types of
pollutions like water, air and noise that affect health of human (Trkman, 2010).
Legal impact and decision-making: avoidance of legislations create adverse situation of
company. It is crucial of each and every business entity to adopted all law of employee and
environment protection. Top management of Marks and Spencer take decision of equal
opportunity, setup the guideline of using technical equipments to promote interest of human
resource. Organisation adopt minimum wages policy to give fair remuneration to worker for
their services at corporation.
M4
SWOT analysis: it is internal study that help to under stand the strength, weakness,
opportunities and threat of company it also help to take suitable decision by considering micro
factor (O'reilly, 2007).
Economical impact and decision-making: instability of economic situation force to
administrative to make changes in pricing strategy. For example if increase the inflation rate the
monetary value of goods will be high. To avoid adverse impact of this element the management
of company study of economic condition and take suitable decision for increase the market-share
and sales revenue of organisation.
Social impact and decision-making: community attitude affect the business activities of
Marks and Spencer, the social attitude is positive toward the enterprise help to achieve
sustainable growth and profit (Aterido, Hallward-Driemeier and Pagés, 2011). The management
of firm still focus on taking decision to improve the level of satisfaction by deliver qualitative
service experience during pre-purchase and post-purchase process.
Technological impact and decision making: this element help to administration to
understand the innovation in techniques of machinery to develop or create the value at lower cost
that assist to offer cheap pricing strategies to cover maximum number of buyer. Organisation
made decision of adopting new approaches of promotion and purchase service. In marketing
activities Marks and Spencer using social media to create awareness at large scale.
Environmental impact and decision-making: due to awareness of people toward the
climate now most of companies consider the environmental issue in their business strategies such
as the production. In the present report of Marks and Spencer higher authority take decision to
protect the weather from harm. Company focus to secure the environment from various types of
pollutions like water, air and noise that affect health of human (Trkman, 2010).
Legal impact and decision-making: avoidance of legislations create adverse situation of
company. It is crucial of each and every business entity to adopted all law of employee and
environment protection. Top management of Marks and Spencer take decision of equal
opportunity, setup the guideline of using technical equipments to promote interest of human
resource. Organisation adopt minimum wages policy to give fair remuneration to worker for
their services at corporation.
M4
SWOT analysis: it is internal study that help to under stand the strength, weakness,
opportunities and threat of company it also help to take suitable decision by considering micro
factor (O'reilly, 2007).
Strength of company is loyalty and large share of market that help to get competitive
advantages to achieve the goals and objectives of company. In the present report Marks
and Spencer management department take decision to open new store in new region in
United Kingdom to cover maximum number of buyers. Company focus to increase its
product range to deliver greater satisfaction by providing new goods and services.
Weakness of Marks and Spencer is poor communication between top and bottom
department that affect productivity and moral of workers. Higher authority of
organisation design suitable information structure to develop positive relationship to
achieve commercial goals and objectives of company (Commander and Svejnar, 2011).
Marks and Spencer have opportunities to expand product range and new store in country
and in foreign market to capture new customer and increase in profit of company. Now
company looking to launch new product in for specific region to achieve sustainable
growth and market-share.
High competition and new entrance force company to conduct the research to review the
rivalries and newcomers product and service to adjustment in organisation's policy and
strategies to prevent movement of customer (Zott, Amit and Massa, 2011). Cheap price
of substitutes product enforce to management to reduce cost of company product to retain
and attract new customer.
D2 Reflective content
It has been concluded that Marks and Spencer have large scale organisation in retail
sector to deliver number of products to its customer to deliver higher satisfaction them. The
purpose of company is to earn sustainable growth and profit to get competitive advantages
through desire of customer. In the above scenario it has been analysed the positive impact of
Marks and Spencer is organisation have economical and technological advantages firm use social
media to create awareness of their goods and service at large scale and the negative affect of
macro environment is company faces different rules and regulation at global operations
regarding labour, environment, health and safety. Further it has been evaluated that strength of
enterprise is adequate financial resource to take decision to expand commercial activity by
launching new goods for customer (Wiklund, Patzelt and Shepherd, 2009). Than analysed of
external environment through identification of weakness and strength of company. In this report
poor communication is major weak zone of company that affect the productivity of organisation
advantages to achieve the goals and objectives of company. In the present report Marks
and Spencer management department take decision to open new store in new region in
United Kingdom to cover maximum number of buyers. Company focus to increase its
product range to deliver greater satisfaction by providing new goods and services.
Weakness of Marks and Spencer is poor communication between top and bottom
department that affect productivity and moral of workers. Higher authority of
organisation design suitable information structure to develop positive relationship to
achieve commercial goals and objectives of company (Commander and Svejnar, 2011).
Marks and Spencer have opportunities to expand product range and new store in country
and in foreign market to capture new customer and increase in profit of company. Now
company looking to launch new product in for specific region to achieve sustainable
growth and market-share.
High competition and new entrance force company to conduct the research to review the
rivalries and newcomers product and service to adjustment in organisation's policy and
strategies to prevent movement of customer (Zott, Amit and Massa, 2011). Cheap price
of substitutes product enforce to management to reduce cost of company product to retain
and attract new customer.
D2 Reflective content
It has been concluded that Marks and Spencer have large scale organisation in retail
sector to deliver number of products to its customer to deliver higher satisfaction them. The
purpose of company is to earn sustainable growth and profit to get competitive advantages
through desire of customer. In the above scenario it has been analysed the positive impact of
Marks and Spencer is organisation have economical and technological advantages firm use social
media to create awareness of their goods and service at large scale and the negative affect of
macro environment is company faces different rules and regulation at global operations
regarding labour, environment, health and safety. Further it has been evaluated that strength of
enterprise is adequate financial resource to take decision to expand commercial activity by
launching new goods for customer (Wiklund, Patzelt and Shepherd, 2009). Than analysed of
external environment through identification of weakness and strength of company. In this report
poor communication is major weak zone of company that affect the productivity of organisation
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and decrease the moral of worker which is main reason of decline profit and market-share of
organisation and enterprise spent huge amount to providing training program to enhance the
skills of new employee to achieve goals and objectives of company. To avoid negative impact of
weakness top management of corporation design a blueprint to improve the information flow
within the organisation.
CONCLUSIONS
The above analysed is concluded that business environment affect profit and growth of
Marks ans Spencer. In this present report is has been evaluated that various types of
organisations on the basis of size, scope and purpose. Furthermore studied of internal and
external factors along with its positive and negative impact over the company. Next it has been
analysed that interrelation of strengths and weakness of organisation in macro environment of
Marks and Spencer and demonstrate the relationship of various functions of structure of business
operations with link with goals and objectives of firm. Furthermore it has been evaluated that
link of macro environmental factors by making decision to meet the ultimate objective of
company.
organisation and enterprise spent huge amount to providing training program to enhance the
skills of new employee to achieve goals and objectives of company. To avoid negative impact of
weakness top management of corporation design a blueprint to improve the information flow
within the organisation.
CONCLUSIONS
The above analysed is concluded that business environment affect profit and growth of
Marks ans Spencer. In this present report is has been evaluated that various types of
organisations on the basis of size, scope and purpose. Furthermore studied of internal and
external factors along with its positive and negative impact over the company. Next it has been
analysed that interrelation of strengths and weakness of organisation in macro environment of
Marks and Spencer and demonstrate the relationship of various functions of structure of business
operations with link with goals and objectives of firm. Furthermore it has been evaluated that
link of macro environmental factors by making decision to meet the ultimate objective of
company.
REFERENCES
Books and Journals
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concept. European Journal of Information Systems. 19(3). pp.359-376.
Aterido, R., Hallward-Driemeier, M. and Pagés, C., 2011. Big constraints to small firms’
growth? Business environment and employment growth across firms. Economic
Development and Cultural Change. 59(3). pp.609-647.
Black, D., Clemmensen, N.J. and Skov, M.B., 2010. Pervasive Computing in the Supermarket:
Designing a Context-Aware Shopping Trolley. International Journal of Mobile Human
Computer Interaction (IJMHCI). 2(3). pp.31-43.
Boons, F. and Lüdeke-Freund, F., 2013. Business models for sustainable innovation: state-of-
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19.
Cantwell, J., Dunning, J.H. and Lundan, S.M., 2010. An evolutionary approach to understanding
international business activity: The co-evolution of MNEs and the institutional
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review of concepts, research and practice.International journal of management
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Chi, T., Kilduff, P.P. and Gargeya, V.B., 2009. Alignment between business environment
characteristics, competitive priorities, supply chain structures, and firm business
performance. International Journal of productivity and performance
management. 58(7). pp.645-669.
Chow and et.al., 2011. Broadband network with enterprise wireless communication system for
residential and business environment. U.S. Patent 7. 944,948.
Chumpitaz Caceres, R. and Paparoidamis, N.G., 2007. Service quality, relationship satisfaction,
trust, commitment and business-to-business loyalty.European journal of
marketing. 41(7/8). pp.836-867.
Commander, S. and Svejnar, J., 2011. Business environment, exports, ownership, and firm
performance. The Review of Economics and Statistics. 93(1). pp.309-337.
Dong, M., Wu, C. and Hou, F., 2009. Shortest path based simulated annealing algorithm for
dynamic facility layout problem under dynamic business environment. Expert Systems
with Applications. 36(8). pp.11221-11232.
Dyer, L.M. and Ross, C.A., 2008. Seeking advice in a dynamic and complex business
environment: Impact on the success of small firms. Journal of Developmental
Entrepreneurship. 13(02). pp.133-149.
Griffin, R.W. and Pustay, M.W., 2012. International business. Pearson Higher Ed.
Hammer, M. and Champy, J., 2009. Reengineering the Corporation: Manifesto for Business
Revolution. A. Zondervan.
Jenkins, H., 2009. A ‘business opportunity’model of corporate social responsibility for small‐and
medium‐sized enterprises. Business ethics: A European review. 18(1). pp.21-36.
Books and Journals
Al-Debei, M.M. and Avison, D., 2010. Developing a unified framework of the business model
concept. European Journal of Information Systems. 19(3). pp.359-376.
Aterido, R., Hallward-Driemeier, M. and Pagés, C., 2011. Big constraints to small firms’
growth? Business environment and employment growth across firms. Economic
Development and Cultural Change. 59(3). pp.609-647.
Black, D., Clemmensen, N.J. and Skov, M.B., 2010. Pervasive Computing in the Supermarket:
Designing a Context-Aware Shopping Trolley. International Journal of Mobile Human
Computer Interaction (IJMHCI). 2(3). pp.31-43.
Boons, F. and Lüdeke-Freund, F., 2013. Business models for sustainable innovation: state-of-
the-art and steps towards a research agenda. Journal of Cleaner Production. 45. pp.9-
19.
Cantwell, J., Dunning, J.H. and Lundan, S.M., 2010. An evolutionary approach to understanding
international business activity: The co-evolution of MNEs and the institutional
environment. Journal of International Business Studies.41(4). pp.567-586.
Carroll, A.B. and Buchholtz, A.K., 2014. Business and society: Ethics, sustainability, and
stakeholder management. Nelson Education.
Carroll, A.B. and Shabana, K.M., 2010. The business case for corporate social responsibility: A
review of concepts, research and practice.International journal of management
reviews. 12(1). pp.85-105.
Chi, T., Kilduff, P.P. and Gargeya, V.B., 2009. Alignment between business environment
characteristics, competitive priorities, supply chain structures, and firm business
performance. International Journal of productivity and performance
management. 58(7). pp.645-669.
Chow and et.al., 2011. Broadband network with enterprise wireless communication system for
residential and business environment. U.S. Patent 7. 944,948.
Chumpitaz Caceres, R. and Paparoidamis, N.G., 2007. Service quality, relationship satisfaction,
trust, commitment and business-to-business loyalty.European journal of
marketing. 41(7/8). pp.836-867.
Commander, S. and Svejnar, J., 2011. Business environment, exports, ownership, and firm
performance. The Review of Economics and Statistics. 93(1). pp.309-337.
Dong, M., Wu, C. and Hou, F., 2009. Shortest path based simulated annealing algorithm for
dynamic facility layout problem under dynamic business environment. Expert Systems
with Applications. 36(8). pp.11221-11232.
Dyer, L.M. and Ross, C.A., 2008. Seeking advice in a dynamic and complex business
environment: Impact on the success of small firms. Journal of Developmental
Entrepreneurship. 13(02). pp.133-149.
Griffin, R.W. and Pustay, M.W., 2012. International business. Pearson Higher Ed.
Hammer, M. and Champy, J., 2009. Reengineering the Corporation: Manifesto for Business
Revolution. A. Zondervan.
Jenkins, H., 2009. A ‘business opportunity’model of corporate social responsibility for small‐and
medium‐sized enterprises. Business ethics: A European review. 18(1). pp.21-36.
Johanson, J. and Vahlne, J.E., 2009. The Uppsala internationalization process model revisited:
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the business creation process. In Entrepreneurship and Economic Development. (pp.
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O'reilly, T., 2007. What is Web 2.0: Design patterns and business models for the next generation
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Palmer, A. and Hartley, B., 2008. The business environment. McGraw-Hill.
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Teece, D.J., 2010. Business models, business strategy and innovation. Long range
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Trkman, P., 2010. The critical success factors of business process management. International
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development. Routledge.
Wheelen, T.L. and Hunger, J.D., 2011. Concepts in strategic management and business policy.
Pearson Education India.
Wiklund, J., Patzelt, H. and Shepherd, D.A., 2009. Building an integrative model of small
business growth. Small Business Economics. 32(4). pp.351-374.
Wirtz, B.W., Schilke, O. and Ullrich, S., 2010. Strategic development of business models:
implications of the Web 2.0 for creating value on the internet. Long range
planning. 43(2). pp.272-290.
Worthington, I. and Britton, C., 2015. The business environment. Pearson Education Limited.
Wu, X., 2009. Determinants of bribery in Asian firms: Evidence from the world business
environment survey. Journal of Business Ethics. 87(1). pp.75-88.
Zott, C., Amit, R. and Massa, L., 2011. The business model: recent developments and future
research. Journal of management. 37(4). pp.1019-1042.
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From liability of foreignness to liability of outsidership. Journal of international
business studies. 40(9). pp.1411-1431.
Klapper, L., Lewin, A. and Delgado, J.M.Q., 2011. The impact of the business environment on
the business creation process. In Entrepreneurship and Economic Development. (pp.
108-123). Palgrave Macmillan UK.
O'reilly, T., 2007. What is Web 2.0: Design patterns and business models for the next generation
of software. Communications & strategies. (1). p.17.
Palmer, A. and Hartley, B., 2008. The business environment. McGraw-Hill.
Sørensen, H.E., 2012. Business Development: a market-oriented perspective. John Wiley & Sons
Ltd.
Teece, D.J., 2010. Business models, business strategy and innovation. Long range
planning. 43(2). pp.172-194.
Trkman, P., 2010. The critical success factors of business process management. International
journal of information management. 30(2). pp.125-134.
Welford, R., 2013. Hijacking environmentalism: Corporate responses to sustainable
development. Routledge.
Wheelen, T.L. and Hunger, J.D., 2011. Concepts in strategic management and business policy.
Pearson Education India.
Wiklund, J., Patzelt, H. and Shepherd, D.A., 2009. Building an integrative model of small
business growth. Small Business Economics. 32(4). pp.351-374.
Wirtz, B.W., Schilke, O. and Ullrich, S., 2010. Strategic development of business models:
implications of the Web 2.0 for creating value on the internet. Long range
planning. 43(2). pp.272-290.
Worthington, I. and Britton, C., 2015. The business environment. Pearson Education Limited.
Wu, X., 2009. Determinants of bribery in Asian firms: Evidence from the world business
environment survey. Journal of Business Ethics. 87(1). pp.75-88.
Zott, C., Amit, R. and Massa, L., 2011. The business model: recent developments and future
research. Journal of management. 37(4). pp.1019-1042.
Online
A PEST Analysis Template for Any Industry or Business. 2016. [online]. Available
through<http://pestleanalysis.com/>. [Accessed on 26th December 2016].
Business Environment: Nature and Significances of Business Environment. 2016. [online].
Available through<http://www.yourarticlelibrary.com/business/business-environment-
nature-and-significances-of-business-environment/23367/>. [Accessed on 26th
December 2016].
MARKETING THEORIES – PESTEL ANALYSIS. 2016.[online]. Available
through<http://www.professionalacademy.com/blogs-and-advice/Markseting-theories---
pestel-analysis>. [Accessed on 26th December 2016].
What Is Business Environment- Definition & Factors. 2016. [online]. Available
through<http://study.com/academy/lesson/what-is-business-environment-definition-
factors-quiz.html>. [Accessed on 26th December 2016].
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