Impacts of Internal and External Factors on Next Plc - Business Studies
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This presentation explains the impacts of internal and external factors on Next Plc, a UK-based organization engaged in commercial activities for clothing, footwear, and home products. It includes SWOT analysis, political, social, technological, legal, and environmental factors.
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INTRODUCTION TO BUSINESS STUDIES
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TABLE OF CONTENTS ο΅INTRODUCTION ο΅INTERNAL FACTORS ο΅EXTERNAL FACTORS ο΅REFERENCES
INTRODUCTION ο΅A business is an organization which is an enterprising entity that is engaged in commercial or industrial or professional activities. ο΅In this project chosen organization is Next Plc which is UK based organization which has its operations internationallyforclothing,footwearandhome products. ο΅This presentation will explain the impacts of internal and external factors on Next Plc.
INTERNAL FACTORS ο΅These are factors which are internal for the business and does not have an outside involvement. ο΅For explaining the internal factors of this organization SWOT analysis can be used, STRENGTHS ο΅The strengths of Next plc is in the clothing, footwear and home products. It successfully competes with some market giants in the UK industry. ο΅One of the biggest strengths of this organization is that it has all its assets aggregation at a single platform. ο΅Meaning that the business is focuses on a single platform for its operations rather than going in different areas and being less efficient.
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CONTINUE.. WEAKNESSES ο΅This is basically the weakness of most of the retailers in this industry that the competition in UK market for clothing is very high. ο΅However, apart from this weakness this organization has also had an history regarding the bad treatment toward the factory workers and staff. ο΅This is very bad for the image of an organization and, makes Next plc vulnerable towards the other accusation and poor public image.
CONTINUE.. THREATS ο΅Next Plc has often been seen to fail in meeting the design, quality and the value expectations of the customers which is very important for its growth. ο΅This shows the lack of leadership and quality management at the organization. ο΅DuetothistherehasalsobeenDisruptioninthe warehousing and distribution of the business which was considered to be very established in the retail industry.
EXTERNAL FACTORS ο΅Externalfactorsarethosefactorstowardswhichthe organization does not have any direct impact or following are the external factors, POLITICAL FACTORS : ο΅Impactscreatedbythepoliticalenvironmentofthe country is considered to be the political factor. In includes rules and regulations implemented by the government.
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CONTINUE.. SOCIAL FACTORS: ο΅This is the factors which is about the behaviour of the customers and the target segment of the Next plc which influences their business. It can be due to the trend of society or population. TECHNOLOGICAL FACTORS : ο΅The organization implementing new technologies is a good form of innovation however it can effect the organizational operations for the business.
CONTINUE.. LEGAL FACTORS : ο΅The laws and regulations of the country which impacts the operations of the business can be said to be the key factor which has the potential to bring the organization down. ENVIORNMENTAL FACTORS : ο΅The effects which the business has on the environment is considered to be the factors which impacts their operations.
REFERENCES ο΅Kabir, K.H., Aurko, S.Y. and Rahman, M., 2021. Smart Power Management in OIC Countries: A Critical Overview Using SWOT-AHP and Hybrid MCDM Analysis. Energies. 14(20). p.6480. ο΅Xu, D. and Dong, L., 2019. Strategic diagnosis of Chinaβs modern coal-to- chemicalindustryusinganintegratedSWOT-MCDMframework.Clean Technologies and Environmental Policy. 21(3). pp.517-532.
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