The Context of Business: SWOT Analysis, CSR and Innovation at Rowlinson Knitwear Ltd
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This report explores the business context of Rowlinson Knitwear Ltd, including a SWOT analysis, Corporate Social Responsibility practices, and innovation. The report highlights the strengths, weaknesses, opportunities, and threats of the organization and recommends ways for the organization to expand its market.
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Context of Business 1
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 SWOT analysis of Rowlinson Knitwear Ltd..............................................................................3 Use of Corporate Social Responsibility at Rowlinson Knitwear Ltd.........................................5 Innovation at Rowlinson Knitwear Ltd.......................................................................................5 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................8 2
INTRODUCTION The business context develops an understanding in aspect of various factors that tend to have impact on the business in various perspectives. It includes the various types of perspectives such as decision making and its process. It also includes the goals that the organization has aimed to achieve. The context of business is mostly used by Information Technology in order to identifytheimportantimplicationsinordertosmoothlyexecutethestrategicinitiatives (Bejinariu, 2020). Rowlinson knitwear is a UK based medium scale organization. The organization falls under the consumer discretionary sector. Rowlinson knitwear Ltd. deals in production of apparels and textile products. The organization is specifically known to produce school uniform and knitwear for school students. The organization was founded in the year 1972. The report revolves around the study of business context of Rowlinson Knitwear Ltd. The study focuses upon the innovation and Corporate Social Responsibility concept at Rowlinson Knitwear. The report also conducts a SWOT analysis of the organization (Braslauskas, 2020). MAIN BODY SWOT analysis of Rowlinson Knitwear Ltd. The SWOT analysis of the Rowlinson Knitwear aims to highlight the various strengths, weaknesses, opportunities and threatsof the organization. The SWOT analysis of Rowlinson Knitwear Ltd. is explained below- STRENGTHSWEAKNESSES The organization has been recognized as the employer of the year for the year 2018 at the Stockport business awards. Theorganizationhasattained specialisation in terms of independent retailersbyprovidingfunctional, affordable and durable apparels in the marketto its customers at appropriate The organization has raised funds from the source of bank loans from HSBC hence the organization owed high rate of interest which is a drawback of the organization (Corallo, Lazoi and Lezzi, 2020). The organization has captured only a limited amount of market share which 3
price. The organiztaion is in partnership with the organizations that fully comply with the various health, safety and the child labour regulations in the industry. The organization has been recognized as the best workplace in the UK among the small and medium enterprises of the region. provesasadrawbackforthe organization. The organization has a limited sales as it deals only in the selected range of apparels. The organization only deals in schooluniformsandthecorporate apparels which is a shortcoming for the organization(Leminenandet.al., 2020). OPPORTUNITIESTHREATS Theorganizationhasagood opportunity to opt for dealership with thevariousecommerceplatforms which include flipkart, amazon, etc in ordertoselltheproductsofthe organizationthroughtheonline platforms.Thiswillhelpthe organization to have a virtual reach of the customers. The organization can aim at increasing the strength of its employees in order to motivate them to perform better at the workplace and come up with innovative ideas (Zybareva and et.al., 2021). The organization has an opportunity to expand its product ranges in order to capture the market in a better way and have an increased market share. This will help in attracting more number of peopletowardstheproductofthe The organization has well established competitorsinthemarket.The competitors like marks & Spencer and Riverislandcanbeathreattothe organizationiftheirmarketshare increases. The organization has raised funds from the source of HSBC which has resulted in diminishing of the profitability of the organization as they need to pay high interest on the loans. The higher rate of interest is a threat to the profits of the organization. 4
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organization. Use of Corporate Social Responsibility at Rowlinson Knitwear Ltd. Corporate social responsibility can be referred to the concept wherein the organizations make efforts in order to establish a positive impact upon the society and environment. The term CSR introduces policies and practice that are to be performed by the organizations that are to have a positive impact upon the global environment. The organizations aim to maximize profits andapartfromthistheyworkuponachievingtheCorporatesocialresponsibilitygoals (Mahmood and et.al., 2020). The study revolves around the CSR policy in aspect of Rowlinson knitwear Ltd. Rowlinson knitwear Ltd has been awarded for its contribution in the Corporate Social Responsibility twice. The organization has raised the bar for all the organizations in the industry by being bold and actively taking part in the Corporate social responsibilities of the organization. The organization tends to have a good engagement among the employees and communication is treated as a priority. The corporate social responsibilities fulfilled by the organization are as follows- The organization has a commitment towards an ethical culture which is also people focussed. Rowlinson aims to establish and work out its CSR policy in the context of Real Living Wage Accreditation. The corporate social responsibility is fulfilled by Rowlinson Ltd across the international borders too. The organization has takes initiatives in order to provide clean and filtered to the people residing in Bangladesh in order to promote good health. The organization has gifted water filters to the various factory workers of Bangladesh. The activity is an outstanding example of promoting the CSR initiatives. Innovation at Rowlinson Knitwear Ltd. Innovation is referredto the concept of introducing changes in the existing products and services of the organization or bringing changes in the production process of the organization. The innovation at the organization facilitates the organization to deliver a better level of satisfaction among the customers. The innovation can help the organization to tackle with the 5
rising demands in the market in a prominent and cost saving manner (Shayganmehr and et.al., 2021). In order to expand the business of Rowlinson Knitwear Ltd., the organization needs to bring innovations in its products or need to switch upon the alternative or innovative ways so that the organizationcanbringdownthecostofproductionintheorganization.Thiswaythe organization can sell its product at more affordable prices and have better profits. The innovation at the business organization will have various effects on the business. The impact of innovation upon Rowlinson Knitwear Ltd is as follows- Enhances productivity-The innovation in the industry will lead to effective utilisation of the resources further leading to minimal wastage of resources in the industry. The innovation in productivity saves the time of production which increases the production level of the organization. Effective communication process- Innovation will help in providing online platforms fortheorganizationtocommunicatewithitsaudience.Theinnovationinthe communication strategy will impact the organization to have a wider reach among its customersinthemarket.Thecommunicationcouldbeenhancedwiththehelp introducing technologies in order to increase online reach. Competitive advantage- The introduction of various new products or designs of the apparelscanhelpinhavingacompetitiveadvantageto theorganization.Asthe innovation will introduce something new in the market. Rowlinson knitwear Ltd has introduced a new product in the market named Performa 25. The product was launched after proper research and consideration of feedbacks. The product has various features of an ultra lightweight product which is fully fit V neck pullover and cardigan. The product is available in the colour options of navy, black and grey. The product aims to provide cotton comfort along with colour fastness and durability (Sivarajah and et.al., 2020). CONCLUSION It can be concluded from the study that business context is a very important concept for the business organization. The business context develops an understanding in aspect of various factors that tend to have impact on the business in various perspectives. It includes the various types of perspectives such as decision making and its process. The study focuses upon the business context of Rowlinson Knitwear Ltd. The report focuses upon the strengths, weaknesses, 6
opportunities and threats of the organization in light of the SWOT analysis. The study also highlights the Corporate social responsibility practices performed by Rowlinson Knitwear Ltd. Along with the innovations that take place in the organization. In order to recommend ways for the organization to expand its market, the organization can launch new products in the existing marketapartfromtheknitwearandschooluniforms.Thepreexistinggoodwillofthe organization in the industry will boost the confidence and probability of the organization to expand successfully. Hence the organization is recommended to expand its market by launching various apparels in the market under its brand name. The organization can bring innovation in order to expand its Market and reach in the industry. The innovation will have various positive impacts upon the organization. The innovation in the organization will have a positive impact upon the productivity of the organization while reducing the level of wastage and enhancement in the equality of the products. 7
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REFERENCES Books and journals Bejinariu,R.M.,2020.SustainableBusinessPerformanceandRiskManagement:Risk Assessment Tools in the Context of Business Risk Levels Related to Threats and Opportunities. Springer Nature. Braslauskas, J., 2020. Effective creative intercultural communication in the context of business interaction: theoretical and practical aspects.Creativity studies.13(1). pp.199-215. Corallo, A., Lazoi, M. and Lezzi, M., 2020. Cybersecurity in the context of industry 4.0: A structuredclassificationofcriticalassetsandbusinessimpacts.Computersin industry.114. p.103165. Leminen, S. and et.al., 2020. Industrial internet of things business models in the machine-to- machine context.Industrial Marketing Management.84. pp.298-311. Mahmood, M. and et.al., 2020. Effectiveness of business leadership in the Eurasian context: empirical evidence from Kazakhstan.Journal of Management Development. Shayganmehr, M. and et.al., 2021. Industry 4.0 enablers for a cleaner production and circular economy within the context of business ethics: a study in a developing country.Journal of Cleaner Production.281. p.125280. Sivarajah, U. and et.al., 2020. Role of big data and social media analytics for business to business sustainability:Aparticipatorywebcontext.IndustrialMarketingManagement.86. pp.163-179. Zybareva, O. and et.al., 2021. Economic and Legal Aspects of the Network Readiness of the Enterprises in Ukraine in the Context of Business Improving.Studies of Applied Economics.39(5). 8