Business Environment Assignment - Primark company
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Added on 2020-01-28
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We will highlight Primark’s business condition along with top management’s contribution to managing internal factors on its operations (Hamilton and Webster 2015). The report will include various types of corporations on the basis of size, purpose, and scope to achieve their mission and also, number of stakeholders who contribute to the success of the company. Fiscal and Monetary policy. You can also check" PESTLE Analysis of Primark".
Business Environment Assignment - Primark company
Added on 2020-01-28
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Business Environment
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Organisations and purpose...............................................................................................31.2 Extent to which PRIMARK meets the objectives of different stakeholders....................41.3 Responsibility of Primark and strategies to meet them....................................................5TASK 2............................................................................................................................................62.1 Distinct type of economic systems...................................................................................62.2 Assessment of Fiscal and Monetary policy......................................................................72.3 Different competition policies in the UK.........................................................................7TASK 3............................................................................................................................................83.1 Pricing and output decisions in different types of market................................................83.2 Impact of market forces on organisation..........................................................................93.3 Business and cultural environments shaping the behaviour of organisation..................11TASK 4..........................................................................................................................................114.1 Significance of international trade..................................................................................114.2 Analysis of impact of global factors on the UK organisation........................................124.3 Impact of policies of the European Union on the UK business organisation.................14CONCLUSION .............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONThe concept of business environment is internal and external factors of an organisationthat affects the functioning of operations. The micro and macro factors put a huge impact on thegrowth of commercial enterprise to manage trade functions to achieve goals. The present reporthighlighted Primark’s business condition along with top management’s contribution to manageinternal factors on it operations (Hamilton and Webster 2015). Company is a subsidiary entity ofAssociation British Food which has limited stores and branches to deliver its products to targetedcustomers to accomplish the objectives of firm. Organisation provides fashion accessories,clothing, etc. Primark run its business in England and other European countries to capture highmarket share by satisfying the demand of customers. The report will include various types ofcorporations on the basis of size, purpose and scope to achieve their mission and also, number ofstakeholders who contribute in the success of company. The major purpose of assignment is tounderstand the business environment of selected firm.TASK 11.1 Organisations and purposeIn the present business world, generally company focuses on achieving their goals ratherthan consumer welfare. Primark is a growing retail enterprise in United Kingdom which deals inclothing and cosmetic for women to deliver fashionable satisfaction along with enhancing theorganisational market share. Company has its own 100 stores from where the customers candirectly buy needed product as well as products offered by the firms are also sold throughvarious retail partners. Primark is a private firm which focuses on the growth of business andsince a long-time, it is playing successfully in the competitive market to fulfil its motives.Types of organisations:Public company: These are those companies whose major aim is to promote consumer’swelfare along with earning desired level of profit (Moutinho, 2011). It is operated by the localgovernment body to enhance citizen’s interest. In the UK, there are many public organisationsand NHS is one of them which is dealing in health care organisation, it is a government bodywhich is controlling on the health care units in the UK. The NHS is working to make balance inthe health care units and their services as per the prices. Organisation aims to provide low pricedservices to client rather than earning higher profits by health care organisation
Charity: These are non-profit firms that work to protect the human rights within nation.Charity or Donation enterprise provides assistance to homeless people. Christina Noble Children(CNC) helps disabled child in the nation. Purpose of NGO is to promote the interest of kids bysupport and through helping them.Diabetes UK is a charity organisation which is working fordiabetic patients and social awareness for this disease. Co-Operative organisation: It is a kind of business entity in which number of peoplecome together to share their resources to achieve high profit. Edinburgh Bicycle is co-operativecompany that deals in bicycle in UK. These organisations focus on meeting monetary goalsthrough providing assistance to society to enhance their benefit together with company’s growth(Craig and Campbell 2012).Above classification of organisation helps to understand the purpose of corporation.However, NGO focuses on increasing community welfare while on the other hand, private andco-operative business enterprise majorly intends to enhance their market-share through earningdetermined profit of company.1.2 Extent to which PRIMARK meets the objectives of different stakeholdersIn the modern business era, role of stakeholders is important to meet the organisationalgoals. Primark is having these following stakeholders who help to run business activities in asmooth way.Customer: The role of customer in business is crucial. Each company considers theirwant in making organisational product and service to provide maximum satisfaction toconsumers. The profit of firm directly affects the consumer behaviour (Worthington and Britton,2015). The positive attitude of buyer is sufficient to enhance the growth of firm. In the presentcontext of Primark, they deal in number of products so its importance to top management is tostudy about customer expectation regarding fashion and taste of them. For example: in clothingsector, fitting of outfit is crucial to stimulate the buyer to purchase a particular dress. So, it isessentials to design clothes in all sizes. So the organisation is having a vision to give all thepossible facilities to their customers by their products. Suppliers: They play a vital role to improve the business of company. Primark is aleading organisation and so, firm can select the best supplier to sell its product to ultimateconsumer to enhance the market-share and earn profit. Generally, these firms want to increasetheir own growth by the support of organisation. In the above scenario, firm is having number of
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