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Report On Primark - Objectives Of Stakeholders

Added on - 28 Jan 2020

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BusinessEnvironment1
TABLE OF CONTENTSIntroduction.....................................................................................................................................3Task 1...............................................................................................................................................31.1 Discuss the purpose of different organization and Primark...................................................31.2 describe the extent to which Primark meets objective of its stakeholders.............................31.3 Explain the responsibility of Primark and strategies employed to meet them.......................4tASK 2...........................................................................................................................................52.1 Explain a type of economic system operated in a different country......................................52.2 The impact of fiscal and monetary policy.............................................................................62.3 Identify five competition policy and other regulatory mechanism.......................................7Task 3...............................................................................................................................................83.1 Explain how Pricing and output decision of business is determined....................................83.2 How market force (Demand and supply) shape organisational responses..........................103.3 How business and cultural environment shape the behaviour of Primark..........................11TASK 4..........................................................................................................................................114.1 Discuss the significance of international trade to UK business...........................................114.2 The Impact of Global factor on UK business......................................................................124.3 Evaluate the impact of policies of the European Union on UK business............................13Conclusion....................................................................................................................................142
Illustration IndexIllustration 1: Different type of stakeholder.....................................................................................5Illustration 2: Type of economy system...........................................................................................7Illustration 3: Perfectly elastic demand curve in a perfect competition.........................................11Illustration 4: demand and supply curve........................................................................................133
INTRODUCTIONBusiness environment is combination of internal and external factor that influenceactivities of business enterprise. Some of external factor such political factor. Social factor, legalfactor etc. impacts companies to a great extent. The present report is based on a Primark which isan Irish clothing retailer and one of the most renowned brands in UK. This report covers; theextent to which Primark meets the objective of its different stakeholder is described. Along withthis, the responsibility of Primark as organization is explained. Apart from that, the significanceof international trade to the UK business is analysed in the research report.TASK 11.1 Discuss the purpose of different organization and PrimarkThere are different type of organization which has different purpose and objectives. Themain objective of Primark Company is to serve its customer good quality products and services.It aims at ensuring that all employee get equal opportunities and they are rewarded for thesuccess of the business. Mission of the Primark is to become serve its customers with qualityproducts and its vision is to become more trustable retailer company so that people love to workand buy a products. On the other hand Marks and Spencer is a public company which operates indifferent international market. Its mission is to create a retail environment that offers anunbelievable value and variety and satisfaction to its customer. It vision is to remain a leadingretail organization and to improve everything. Further its objective is to provide a qualityproducts and service at a reasonable price to its entire customer.1.2 describe the extent to which Primark meets objective of its stakeholdersThere are different stakeholders of a Primark and the stakeholders are mentioned below as:Customer:Customer are very important external stakeholder of Primark because thecompany operates with an objective to satisfy the need and demand of all its customers.Company need to fulfil the needs and objective of consumer by providing them a products andservices of good quality at fair price (Karadi and Gertler, 2015).For example, Primark need tofocus on changing need and demand of customers and make product on basis of the same.4
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