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Report on Cultural Environment of - Next PLC

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Added on  2020-01-28

Report on Cultural Environment of - Next PLC

   Added on 2020-01-28

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BUSINESSENVIRONMENT
Report on Cultural Environment of - Next PLC_1
TABLE OF CONTENTSINTRODUCTION .........................................................................................................................................................2TASK 1...........................................................................................................................................................................2A. Identifying purpose of different types of organisation and their purposes...........................................................2B. Extent to which Next PLC meet the objectives of their shareholders along with the different responsibilities ofstrategies of organisation in order to meet the requirement of stakeholders.............................................................3TASK 2...........................................................................................................................................................................4A. Explaining the nature of UK economic system and it effects on Next PLC........................................................4B. Assessing the impact of fiscal and monetary policy on businesses......................................................................5C. Evaluating the impact of competition policy and other regulatory mechanisms in UK on the activities of NextPLC............................................................................................................................................................................5TASK 3...........................................................................................................................................................................6A. Impact of market structure on pricing..................................................................................................................6B. Influence of market forces....................................................................................................................................6C. Cultural environment of Next PLC shapes the behaviour of organisation...........................................................7TASK 4...........................................................................................................................................................................7A. Significance Of International Trade On U.K. Business Organisation..................................................................7B. Analysing impact of global factors on the UK business organisation .................................................................8C. Evaluating the impact of European Union policies on UK business organisation...............................................9CONCLUSION.............................................................................................................................................................11REFERENCES..............................................................................................................................................................12
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INTRODUCTION Business environment can be termed as the different factors such as internal or externalwhich can affect working of company such as employees, customers as well as management. Forachieving success it is essential to know about the environment of business which offers varioustypes of opportunities. There are certain conditions in environment which impact the operationsof business to a greater extent (Al-Debei and Avison, 2010). Present report is based on Next PLCwhich is British multinational and it is engaged in selling clothing, home products as well asfootwear. In this report, the business environment of Next PLC is examined with reference todifferent factors including structure of market, main responsibilities of Next PLC etc. Further,the impact of monetary and fiscal policy on the enterprise of Next PLC has also provided thesignificance along with the effect of cultural environment. Moreover, importance of internationaltrade along with the impact of global factors on Next PLC is also discussed with globalization.Lastly, the European Union policy and their relation to the Next PLC is also described withrespect to some of the policies (Bertillo and et. al., 2013). TASK 1A. Identifying purpose of different types of organisation and their purposesThere are different types of organisation in which some of the businesses are profitseeking and other is non-profit organisation. Organisations are different because of their culture,environment and structures (Bøllingtoft, 2012). Public Limited Company- Next PLC is a public limited company which has started their journeyin the year 1864. It was started as a small retail store and now it has become one of the largestclothing retailers in UK. It has around more than 700 stores and it is also listed in London StockExchange (Brannon, 2010). Some of the main purposes of Next PLC are to serve high quality ofproducts and to create a positive difference. Thus, one of the objectives of company is to achievehigh level of growth with respect to market share and to increase in the number of customers.Charity- Cancer Research UK is an example of charitable organisation which provides servicesto the patients suffering from cancer. The main aim of the organisation is to reduce number ofdeaths due to cancer and it is also world's largest self-directed cancer research charity. The workof the research is completely funded by the public (Carpenter, and Sanders, 2006). Further, itraises their money from donations, events along with the retail and corporate partnerships.
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Private Limited company- McDonald Corporation is an American food restaurant chain whichhas their own global identity. It is one of the largest food chain that is highly known for thehamburgers. The main purpose of McDonald is to make efforts for providing appropriate qualityof products and services to their customers (Carroll and Shabana, 2010).B. Extent to which Next PLC meet the objectives of their shareholders along with the differentresponsibilities of strategies of organisation in order to meet the requirement ofstakeholdersAn individual or a group who have their stake in the different activities of Next PLC areconsidered as stakeholders. There are some of the stakeholders of Next PLC which plays animportant role such as customers, employees along with the government which helps in attainingthe goals and objectives of the business are described below:Customers- They are considered as key stakeholders of the company to whom Next PLCoffering appropriate quality of products and services of clothing and home products (Commanderand Svejnar, 2011). Further, it has been evaluated that customers have high level of interest ingetting appropriate quality of services. Thus, for satisfy the needs of customers the managementof Next PLC is needed to focus on the pricing strategies for attracting large number ofcustomers. Employees- It is also considered as one of the most significant stakeholders who provideappropriate services to the customers in the stores (Doh, McGuire and Ozaki, 2015). There is oneof the main aim of the employees is to get proper environment of work and appropriateremuneration which assists them in giving services as per requirement. In order to meet the goalsof organisation it is important to consider the issue related to the salaries of employees forachieving objectives. Suppliers- The suppliers are also considered as an important stakeholder for Next PLC whoprovides appropriate materials for the carrying out the different activities of the business.Further, it is essential to have proper interaction with the different types of suppliers for theproduction of goods with the specification in order to achieve success (Hamilton and Webster,2015). They also offer appropriate resources which can be utilise by the organisation for theproduction of goods and also assists the organisation to carry out the activities and achieve thetargets.
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