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Influence of market forces on business environment in introduction 3 TASK 13

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Added on  2020-02-17

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BUSINESS ENVIRONMENT INTRODUCTION 3 TASK 13 1.1 Purpose of different type of organization3 1.2 Extent to which Primark meet the objectives of different stakeholders 4 1.3 Responsibilities of Primark as an organization 5 TASK 26 2.1 Different economic system 6 2.2 Impact of fiscal and monetary policy 7 2.3 Competition policy 7 TASK 38 3.1 Pricing and output decisions of business 8 3.2 Way in which market forces shapes the organizational response10 3.3 impact of business and cultural environment 10 TASK 411 4.1 Significance of international

Influence of market forces on business environment in introduction 3 TASK 13

   Added on 2020-02-17

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Influence of market forces on business environment in introduction 3 TASK 13_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Purpose of different type of organization .............................................................................31.2 Extent to which Primark meet the objectives of different stakeholders ...............................41.3 Responsibilities of Primark as an organization .....................................................................5TASK 2............................................................................................................................................62.1 Different economic system ...................................................................................................62.2 Impact of fiscal and monetary policy ....................................................................................72.3 Competition policy ................................................................................................................7TASK 3............................................................................................................................................83.1 Pricing and output decisions of business ..............................................................................83.2 Way in which market forces shapes the organizational response........................................103.3 impact of business and cultural environment ......................................................................10TASK 4 .........................................................................................................................................114.1 Significance of international trade for UK business organizations ....................................114.2 Impact of global factors ......................................................................................................124.3 Impact of policies of EU......................................................................................................13CONCLUSION .............................................................................................................................14REFERENCES .............................................................................................................................152
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INTRODUCTIONGlobal business environment is changing at a faster rate and it is providing opportunitiesfor selling products and services of the enterprise in new market area (Rusinaite, Vasilecas andKalibatiene, 2016). Present report is based on Primark which is a subsidiary company of theABF. Company works with an objective to bring positive improvements in the lives of people.The report describes about purpose of different organizations. In addition to this, differentstakeholders of the enterprise and responsibilities of Primark as an organisation and strategiesemployed to meet them have been mentioned. TASK 11.1 Purpose of different type of organisation Primark is a private sector organization that offers superior quality clothing and fashionwear products to its consumers. Major objective of private sector organisations is to earn profitsand revenues by selling products and services to business consumers (PRimark, 2017).Operations of the enterprise were started in the year 1969 and presently, there are 100 stores oforganization across Britain and Ireland. Company has become distinctive for offering unbeatablevalues in products and services that are being offered by it (Primark women, 2017.).Organization is known for fashion driven edge and innovativeness in products manufactured byit. Company is not involved in manufacturing activities and products of the entity are beingpurchased from different suppliers. Profitability of the entity depends upon sheer volume of salesand value for money prices of enterprise depends on low cost products that are being offered byit. Major suppliers of company are in Europe and Asia and key sourcing countries are China,India and Bangladesh. Main goal of private sector organizations is to earn profit, growth andgain higher market share by satisfying the expectations and needs of consumers (Bocken, Ranaand Evans, 2013). Purpose of business organizations in following categories are mentioned asbelow:-The public sector: - Major objective of public sector organization is to earn profits andrevenues. They work with the mission to provide better amenities and services to people.Partnership in these organizations is done with only few stakeholders. Managerial jobs are3
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created for owners and unnecessary risks are avoided in the enterprise (Vahlne and Johanson,2013). Shares in public limited companies can be offered to the public and they are also tradedon the stock exchange. For example British council is a public sector organisation of UK. Charity: - These organizations work with an objective to offer helping hands to theneedy people. These are non-profit organizations that work for making improvements in theliving standards of people (Chow and et.al., 2012). Some charity organizations also work forproviding protection to environment and giving welfare to animals. In addition to this, support isalso provided to needy people that are living in the society. For example Leonard disability is acharitable organisation of UK that offers medical care for elderly people. Cooperative: - These organizations start their functions by investments made bymembers. The major objective of cooperative organizations is to earn profits by providing highquality products and services to consumers. Focus is given on enhancing sales and financialrevenues that are being earned by the enterprise. Risk and losses suffered by the enterprise areshared among members and profits are also divided equally among them (Paasi, Huhtilainen andNyst, 2012). Action plans and strategies are formed by the joint decisions taken by members forexecuting operational activities of enterprise. Members of company that are working at lower,middle and top level management takes decisions for carrying out business activities. Type ofco-operative organizations includes Worker-co-operative, Producer-co-operative and Consumerco-operative (Khan and Khalique, 2014). For example The Co-operative bank is a financial andbanking service provider company of UK. Franchise :- In this type of business system rights are given to another business firms forselling products and services of the organization. It supports in saving investment cost forstarting business activities. Distribution of goods is done by another parties and chain stores ofenterprise are opened with objective to sell products and services of the organization. Partnership :- Under this type of business system money and other resources are invested by twoor more business partners. Profits and losses that are occurred in the enterprise are dividedamong business partners in the ratio of money invested by them to carry out business activities.Two or more persons agree to carry on business activities under partnership. 4
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