Business in Practice: Morrison Company and Its Environment
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Added on 2023/06/17
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This poster discusses the impact of internal and external factors on Morrison Company through PESTLE analysis. It also includes SWOT analysis, organizational structure, and the company's mission and vision.
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Morrison company and its environment
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Table of Content INTRODUCTION...........................................................................................................................2 MAIN BODY...................................................................................................................................2 Mission &Vision....................................................................................................................2 SWOT Analysis......................................................................................................................2 Organisational Structure.........................................................................................................3 PESTLE Analysis...................................................................................................................3 Impact on the external environment.......................................................................................4 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................6 1
INTRODUCTION Business in practice is refers to as path in which new process for conducting conventional and methods like forming databases of better practices that improvise employment retaining (Williams and et.al, 2021). The poster is based on Morrison Retailer company that situated in UK. It is considered as largest chain store, them provides several types of products such as food, clothing, drink etc. This is a private limited company who gives customer variety of services. In accordance to that determine internal and external elements that collision on Morrison company through PESTEL analysis, identified several paths in which organization may effect on external factors of environment. MAIN BODY Mission &Vision The mission statement of Morrisons depicts rebuilding of the company by framing well defined strategies. SWOT Analysis Strength Strong supply chain and distribution network of Morrison’s is its strengths enablingittokeepitscustomers engaged and be available for them. Large product portfolio enables the brand to capture larger segment and customer base. Customer oriented practices allows the firm to be competitive through loyal customer share. Weakness Limited geographical area is a weakness as international buyers are ignored. Pastcontroversiesandconflictshave createdhugelossesandaffectingthe brand. Opportunity Can diversified business into organic product. International market expansion. Threat Increasingmarketshareofcompetitive brands. Growingtechnologicalrisksasregular 2
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Acquisitionandpartnershipwith other small companies. Expand business in to non-food retail market. Growingrateofonlinebusinesses and discount channels. changes breaches are taking place due to unethical practitioners. Instant changing rules and regulations. ConstantchangesintaxesandGovt. policies bring uncertainties for the brand. Weak supply of innovative products as the competitioninmarketishugeand regulations are increasing. Organisational Structure Morrison’s capitalizes on a vertical organisation. The company relies upon Top to Down Approach. PESTLE Analysis Political- Political stability plays an important role on business performance. In regard to political condition of UK, it is found that there are multiple governmental policies that affect UK food retailers. Brexit also creates severe complication for the firm. Economical- In regard to business, expansion of economy affected by national income which impact on cost of output. Taxes influence demand of products that may be from substantial when discretion is low and weak due to which it directly impacts on the company. Social-The social factors are the trends in society and the components related to the people or customers who are associated with the company. In regards to the same, the social environment in which Morrison’s exist is positive for the company as in the UK, customers or population believes in loyalty. Along with it, regular changes in the trends provides company an opportunity to innovate and keep their customers involved for longer period by providing them innovative offering and keeping them satisfied. Technology- Due to enhancementin machinery,changesmay place accordingto technology in order to lead towards growth of business. Morrison has started using artificial intelligence to stock its stores and drive sales. Along with it, the company is also working over regular development and innovation as per the trends in the society and as per the technological 3
changes taking place. This component is enabling Morrison’s in making best of its resources and also to work according to the society and as per the changes taking place in the world. Legal- An approval is needed from local jurisdiction to open up new firm and this organization determine to stick around by regulation (Andhini, 2021).There are some rules and laws related to food standard and quality. It is important for Morrison’s to adhere to food quality standards in order to protect themselves against lawsuit and improving health of customers. Environmental-This component or aspects is to look over the environment and offer the world a sustainable offering which associate the customer and society in positive manner. Hence, Morrison’s is working towards the same to offer the best to their customers by reducing carbon emission and working over the renewable processes. Impact on the external environment External factor- This is an element that effect situations that company cannot oversight which impact decision of organization. In these various factors are seen for performing works in different sectors. That are; New regulations-Retailers are required to follow all regulations for improving quality of food. There is consistency in policy making and implementation because government adheres all rules under world trade organization norms that may be useful for Morrison. Sustainable practices-It is found that Morrison is striving hard for decreasing carbon emission in order to make people feel valued and decreasing negative environmental impacts. It offers plastic free fruits options and it has banned plastic bags and customers need to carry their bags for buying products or they will be provided with cloths bags. BREXIT-Brexit has changed economic condition of UK as it has increased inflationary pressure. Due to rises in oil and other prices, consumers do not invest in clothing, flowers and other products that Morrison offers. So, it can lower profit margin of this supermarket and employee more workers for smooth functioning of business. Increasing population-Raising age population is creating numbers of opportunities for retailers as it can rise sales of companies. On the other hand, also found that people are becoming health and environmental conscious and for satisfying customers' needs, companies need to focus on improving sustainability and quality of products (Qiao, 2021). New brand positioning can also help Morrison in attracting customers and retaining them. Due to which help in maintaining proper conduct of social responsibility. 4
CONCLUSION The report has been summarizing of business in practices by determining internal and external factors that affect company from several ways. It will justify by analysis of PESTEL from which impact on external factors has been evaluated in regards to Morrison retailer company who provide products of food, beverage etc. By producing detailed poster that has define elements through impact on organization. An assessment of external elements has been determined political, economic, social, technological, environmental and legal factors that directly influence company by their effecting elements of it. 5
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REFERENCES Books and Journals Andhini, A.S.D., 2021. Juridical Analysis of Legal Aid Implementation for Underprivileged Communities:ProblemsandChallenges.TheIndonesianJournalofInternational Clinical Legal Education. 3(4). pp.481-498. Gross, H.P., Rottler, M. and Wallmeier, F., 2021. The influence of external reference price strategies in a nonprofit arts organization's “pay‐what‐you‐want” setting.International Journal of Nonprofit and Voluntary Sector Marketing. 26(1). p.e1681 Qiao, Y., Research on Cost Management of Retail Industry Such as Starbucks. International Journal of Social Sciences in Universities. p.31. Williams, J.A.S and et.al, 2021. Business writing practice and support over time: Evidence from a strategic management class. Journal of Education for Business. pp.1-10. 6