logo

Micro and Macro Business Environment Assignment

   

Added on  2020-10-05

6 Pages1387 Words401 Views
Context of Business

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Explaining the micro and macro factors.....................................................................................1Explaining the importance of being a ethically responsible towards the CSR...........................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

INTRODUCTIONBusiness environment is the sum of external or internal factors that directly or indirectlyaffect the overall business goals and objectives in different situation. In other words, companyshould need to acquire long lasting development results to make the company environmentpositive and sustained. Present study discussed about the fashion and clothing sector in whichreport will be taking Primark fashion retail company which is situated in London. Primark isknown for its high branded fashion outlets. Moreover, in this present report, researcher will bedescribed the micro or macro factors and also analysed the external factors that directly affect thebusiness growth. On the apart it also explains about the importance of ethical businessresponsibility to sustained the company aims and objectives.MAIN BODYExplaining the micro and macro factorsMicro factors The Suppliers: Supplier is the most significant micro factor that affect businessindirectly (De Mooij, 2018). In fashion retail market, supplier is more powerful andstrong due to high demand of quality raw material. It is very necessary for the Primark toaccomplish the needs of suppliers to be more productive and manufacturing uniqueproduct quality.The Customers: customers are the king of the market its needs and wants are the firstpriority of the company to be accomplished. It must for Primark to analyse the currentmarket demand and make product accordingly. Due to slow in grabbing the opportunitywill get company in more loss. The Competitors: competitors are the primary factor that affect business in continuousmanner by launching new product or services in the market and attract customerattraction (Gupta, S. and Gentry, 2018). Such as for Primark major competitors areH&M, M&S, New Look, Matalan etc. before making decision in regarding productservices, it is very essential for the Primark is to analyse the competitor’s strategies andgoals. The Mediators: Mediators are the resellers who deal in between customers ormanufacturers. Without mediator’s manufacturers are not able to sell their product to the1

End of preview

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

Related Documents
Corporate Social Responsibility (CSR) - Essay
|6
|1384
|424

Context of Business - M&S Assignment
|6
|1318
|171

Retail Theory and Practice: A Case Study of Primark in the UK
|11
|3363
|322

Business Environment
|6
|1329
|289

Main Determinants of Business Performance and Economic Factors Affecting Competitive Environment
|10
|3163
|182

Marketing Management of UK Fashion Retail Market
|17
|3990
|13