Impact of External Environment on Business Strategy

This assignment examines how the external business environment influences strategic decision-making. Students will analyze various aspects of the external environment, such as economic conditions, government regulations, technological advancements, and social trends, and explain their impact on a firm's overall strategy. The analysis should consider different types of businesses and industries, highlighting the specific challenges and opportunities presented by the external environment.

BUSINESS
ENVIRONMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Various organisations and their purposes.........................................................................3
1.2 Extent of Primark to meet objectives of their stakeholder...............................................5
1.3 Responsibilities of Primark ...........................................................................................6
TASK 2............................................................................................................................................6
2.1 Economic system of various countries.............................................................................6
2.2 Impact of fiscal and monetary policies on business organisations. .................................7
2.3 Competition policy and regulatory mechanisms and their impact on other organisations8
TASK 3............................................................................................................................................9
3.1 Pricing and output decisions of businesses is determine in the various structure............9
3.2 Market forces demand and supply effect organisation...................................................10
3.3 Business and cultural environment shape the organisation behaviours.........................11
TASK 4..........................................................................................................................................12
4.1 Significance of international trade to the UK business organisations............................12
4.2 The impact of global factors on UK business organisation...........................................14
4.3 The impact of policies of the European Union on UK business organizations.............15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Business environment defined as factors which influence existence of the company. Such
factors are internal and external factors. They effect environment as well as existence of the
organisation(Wu, 2009). External factors like political, legal related to government, social and
technological. On the other hand, internal factors are cost incurred by the entity on raw material
etc. Stakeholder also effect the business environment of the company. Stakeholders like finance
provider, government, managers, customer and suppliers. Primark is the biggest product retailer
which provide all types of product like fashion accessories, clothing and footwear. The
organisation have some responsibilities to meet objective or goals of their stakeholders. Also
make some planning and strategies to complete their task and satisfy their customer. Economic
system refers to society collect all his effort and try to satisfy their customer or to meet their
needs. China is the largest growing country which manufacture lots of product and deliver them
in a world wide. Cuba has a finest economic system. Some organisations like public sector,
charity and cooperative are incorporated for stated purpose or providing services to their
customer in efficient manner.
TASK 1
1.1 Various organisations and their purposes.
Primark is the international clothing retailer which provide its product in a world wide.
Primark engaged in a business of retailing all types of product like cloths, fashion accessories,
foot wear and many more(Wild, Wild and Han, 2011). Primark offering a different scope of
products, including newborn clothes and children's clothing, women's apparel, men's apparel ,
interior product, auxiliary, footwear, beauty items and confectionery. The organization exchange
apparel at the low price end of the marketplace at a lower average price. Also it provide various
types of services to their customers. It offers its product in a low price which are lower than the
average rates. If the prices are low it doesn't mean the quality of product is low. They provide
better quality of product to their customer. This differentiate the Primark from the other brands.
By it they generate more and more profit. Trendy fashion are organised by the Primark only. The
organisation uses creative ideas and innovate things are continuously used by this company in
order to maintain its performance in a local market. The purpose is to provide good material
clothes at cheap price to the customer it increases the sales of the Primark. The want to generate
more and more profits from other countries and create new customers.

Organisations Name of organisations Purposes
The public sector NHS National Health Services
(NHS) provide health care
services to their candidates and
also provide proper protection
to them. Government of
England is incorporate this
organisation for the providing
social services. Main services
provided by them are mental
health services. Also
government give equal
importance to physical health.
Main purpose NHS is giving
social services to their
members.
Charity WaterAid WaterAid is the international
non profit organisation of UK.
With the help to local partner
they provide clean water and
toilet and promote good
hygiene. They aware people
about bad effect caused by use
of dirty water and toilets. They
provide education to their local
people to prevent them from
diarrhoea.
Cooperative Co-op food The main purpose of
cooperative food is production
and distribution of food to

their local people. It is a
consumers' cooperative
organisation. They engaged in
providing natural food which
is good for health and prevent
from various deceases.
1.2 Extent of Primark to meet objectives of their stakeholder
Various types of members of the company who are to interested in company for making
investment or providing services to them are called stakeholders(Ullah. and Lai, 2011).
Interested persons are like shareholders, managers, customers, suppliers, finance provider and
legal authorities called as government. They are come in a company as a group, individuals and
may be government. They wants to work with organisation in order to get benefit or profit. The
extent to which organisation meet goals of the stakeholder are as follows:
 Shareholder- As the word define they wants their share in a profit of a company.
Usually, they make investment for purpose of earning huge return. The people wants to
invest in a financially strong company which is able to give them a better return against.
Further, their profits are based on prices of the share. If prices are they can resale share
and get huge profit but not at the when prices are lower the the average cost. Primark is
the financially strong company, through which people can get higher return and earn
more profits.
 Managers- They are the employees of the company who providing their services in order
to get huge benefits from company. Managers get salaries, bonuses, incentives and some
extra benefits. Primark has a large number of staff member and offering them good
salary package.
 Customers- Customers are the main factors of the company. They create a demand and
try to increase production of the organisation. Primark is international clothing retailer
which provide huge variety of cloths to their customer and also goods like fashion
accessories, footwear and variety of dresses for all age of group members(Trkman,

2010). People wants to satisfy their needs through purchasing product or enjoy their
services.
 Suppliers- They provide raw material to the company and wants to get more profit from
it. They have to continuously attached with the company. Primark having a large
production process. In order to maintain its performance in a UK's market it need to
improve its production performance also. It provide huge profits to their suppliers and
also wants to attached with them.
 Finance providers- Organisations have to maintain their financial position. Finance
providers are proves finance to company whenever they want. They plays a important
role in company. Primark is a financially strong company only because of their finance
provider. They give money to the company whenever they needed.
1.3 Responsibilities of Primark.
Its a responsibility of a company to meet objective and goals of their stakeholder.
Primark must maintain its performance in order to satisfy their customer, finance providers,
suppliers, government and managers(Teece, 2010). It needs to increase production performance
in UK's local market also need to improve promotion process of their product and services.
Further, for increase their sales in a market they have to aware their customer about goods ans
services they continuously offering to them. Some responsibilities and strategies which are
Primark is going to make are as follows:
 Develop and produce more product for all age of people- It create variance in market
through it day by day the trend has been changed according to the trend demand will also
changed of the customers.
 Use innovation in their work to attract more customers- They uses new types of
technology in their factory by it they can easily make their product fast and better
without any problem.
 Increase their supply system by using new technology and communication system- They
use highly efficient labour in a factory and updated machinery which produce material as
fast as possible.
 Use new promotion process in order to promote their product in a UK's market- By the
help of advertising and sales promotion Primark will sell their product in a market and
earn profitability.

 Increase production process by providing their product in market without any delay.
 Make some strategies and planning to meet goals and objective of their stakeholder.
 Follow all rules and regulation for satisfy government and try to reduce legal mistakes.
 Give information to their customer regarding their product and define quality of that
product.
TASK 2
2.1 Economic system of various countries.
Economic system define as society always try to meet satisfaction of their customer.
Every country has its own economic system which every home country need to be follow. Price
plays a vital role in economic system(Ruff, 2006). Every organisation need to be maintain its
performance and price in order to satisfy their customer and earn profits as well. From the
countries point of view production of goods and services are influenced by economic element
like land, labour, capital and entrepreneurship. Due to scarcity of resources organisation may
reduce their performance in the market. At this government needs to decide the allocation of
these resources in such a way to increase performance as well as earning capacity of the
company. Various countries and their economic system are as define below:
Cuba- The economy of Cuba is a planned economy. It consists most of the industries and
mostly are the incorporated by the government. Huge number of work force are works in that
and also they get good benefit from them. Corruption rate of Cuba is comparatively from other
countries. There is health and transportation costs are low in comparison to other places. Before
revolution, income inequality so high and most of the people are unemployed at that point of
time(Moutinho, 2011). Economic growth of Cuba is also less which reduce its all over image.
Per capita income of every country is need to high but before revolution per capita income of
Cuba is low. But in 1959 Cuban revolution change the entire image or condition. In this period it
becomes a developing country by proving foreign Aid to various countries. The work force is
highly efficient and do their work more conveniently as possible Cuba’s potentiality
businessperson have long been fettered by tight authorities power and organization
shortcomings. No tribunal are escaped of political intervention, and private property is purely
ordered. Unreasonable bureaucracy and lack of regulative transparency go on to limit commerce
and investing.

United Kingdom- It has a good economic system in comparison to other countries. In
United Kingdom strict rules and regulation framed by the government which every company is
need to be follow. The trading system of this country is open trading system which is relatively
high. Also financial sectors are strong. The import and export performance of this country is quit
high it is 57 present which is above the average. Regulative situation is cost-efficient and
transparent. Starting a business takes less than a week. Legal proceeding are direct, and the
labour market is comparatively economical.
China- China is the largest manufacturing hub in a world wide. Also it a biggest exporter
in a world. It produces lots of product and deliver them in a various other countries also like
India, Cuba etc. It manufacturing lots of goods as well as providing services. Per capita income
and growth rate of China is comparatively high with other countries and it is a fastest growing
consumers' market which provides various varieties of products. The working class authorities
continues to be inhibitory. The authorities props up numerous uneconomical state-owned project
and funds a huge array of grant for factory-made exports, energy, factory farm, and consumer
goods.
2.2 Impact of fiscal and monetary policies on business organisations.
Bank of England and its government their fiscal and monetary policy which impact on
organisations are plays a important role. The main aim of these two policies are same but the
way of their implementation are different(Monks and Minow, 2008). Government use these
policies in order to maintain economic system of the country. The purpose of these polices are
balance economic growth of the country, level of export and import, improve level of
employment and reduce unemployment.
Fiscal policy- Through the fiscal policy government maintain economic cycle. Also
government control budget from this policy. It can balance the situation through rates of taxes
and purchasing power. At the time of recession reduce rates of taxes and increase purchasing. On
the other hand, situations can be change in opposite condition.
Monetary policy- Through this policy government can maintain money from the country.
Central bank is the bank of government through which it can balance flow of money. RBI can
manage money by controlling rates of interest and reserve. When flow of money is higher in the
country bank can be increase rates of interest and at the time recession banks reduce these rates
of interest(Klapper, Lewin and Delgado, 2011).

These policies also effect on other sectors like farming and housing. Impact monetary and
fiscal policy on these factors are as follows:
Farming- On farming sector monetary policy effectively impact. When interest rates are
law and farmers need to pay less amount through which they can purchase farming products and
improve their performance or working quality.
Housing- Bank of England can be change purchasing power of the customer. When
government increase tax rates it may reduce purchasing power of the local people and situation is
different when rates become law.
2.3 Competition policy and regulatory mechanisms and their impact on other organisations
Competition policies are help companies to fight against competition and reduce
competition from the market. Regulatory mechanisms help to control these policies and to
manage them. Some competition policies which effect organisation are as follows:
Competition act, 1998- The competition policy of UK government are effect
organisations. This act help to reduce competition from the market. Cartels of the market assist
to reduce competition from the market(Kelliher and Reinl, 2009). Cartels refers to various seller
come together for a same basis strategies or goals and make one organisation and whatever the
earning they get distribute equally. For example; Primark never fixed its price of a particular
product in various places. Which means it decide different prices for different location.
Competition commission- EU is organised this commission in order to reduce
competition from the market. At this time it is not even exist. Organisations are not fixed their
prices in different sector but they fix price according to demand and supply. Same as Primark is
not even fix price on any particular product in various sectors.
Anti monopoly and corporate trust-This affect the riddance of hold that curtail competition
consider price-fixing and other abuses by company who hold a ascendant market position.
Industry relaxation-Relaxation refer competition in previously monopolistic sectors such as
energy supply, retail banking, postal services, mobile telecommunications and air transport
Enterprise act, 2002- This act is motivate amalgamation. Every company don't want to
merge with any company with any political pressure. Same as Primark is not even want to merge
with any entity and not yet merge with.

TASK 3
3.1 Pricing and output decisions of businesses is determine in the various structure
Pricing and output decisions are made a impact on companies. Some importance types of
market structures are as follows:
 Perfect competition- In this market there is large number of buyers and sellers.
Sellers are not able to increase prices of their product because if they do so
customers can be shifted to another seller. In perfect competition buyers have
more option to purchase product on a same price(Kelliher and Bernadette
Henderson, 2006). In this one buyer and one seller can't effect the whole price
policy or market situation. Not even one of them change market demand and
market supply. In UK's market Primark alone can never be change whole market
demand and supply policy.
 Monopoly- There is large number of buyer and only few seller in a monopoly
market. In monopoly market one seller can be change the whole market situation
by changing price if its particular product. If seller increase price of a product
customer have no other option and they have to purchase that product on that
given price. If the companies increase price of their product, in that case they can't
reduce demand. Railway is the bes example of monopoly. Only railway can
manage entire situation.
 Oligopoly- In this market only few customers are available. Sellers can be change
their price on the basis of cost and variable cost prices. All companies can be set
their prices on the basis of mutual understanding. Demand and supply of a
particular product is never be change by single seller only. All are having their
own perception through which set price of a product.
 Duopoly- In this market only two buyer are there, also it is similar with the
monopoly market(Kang and Han, 2008). Both of the seller can be set price with
the mutual understanding. These both seller can be divide number of customer
and prices of a particular product. They both never be loose their customer and
not even reduce price. For example; Airbus and Boeing are the best example of
duopoly. They both are engaged in the business of making big sized Aircraft and

deliver in a world. Decide price of their product mutually and divide their
customer and prices equally.
3.2 Market forces demand and supply effect organisation.
In general sense, both demand and supply effect existence of any business organisation.
Companies maintain their production process in order to meet demand of the customer towards
any product Johnson, Lenartowicz and Apud, 2006). Primark is engaged in a business to produce
various types of product and it manage its stock on the basis of demand of the good in the
market. These can be create major changes in stock on the basis of demand of the good in the
market.
Sources: diagram of demand and supply, 2017.
It is essential for all types of organisation to manage demand and supply of a product in
order to make more profit and improve earning efficiency. Primark is the international clothing
market which provide lots of its stock in a market on a daily basis(Johanson and Vahlne., 2009).
Demands of its product is very high. It have to manage its production capacity in to meet demand
of their customer. It deliver lots of stuff like fashion stuff, cloths for men, women and children
which have large demand in a market. Demands will be increase in festive seasons like Diwali,
dusshera, etc. As the above mention diagram price and demand are adversely effect each other.
When price of the product increases result it demand decreases and if price falls, demand will be
increases. When supply and demand intersect with each other it called as equilibrium point
Illustration 1: Diagram of Demand and Supply

which means demand and supply of a particular is remains same. But competition can be
increase in this type of situation. Supply- Economists said that supply as the relationship between
the amount of a products or services consumers will offer for selling and the cost charged for that
product. Demand-Demand is the customers need or want to have the product or occurrence the
service. It is forced by the willingness and quality of the customers to pay for the product or
service at the cost offering.
3.3 Business and cultural environment shape the organisation behaviours
Business environment plays a important role to making effect in existence of the
company(Hawken, 2007). Factors which effect organisations are some internal and external
factors. Internal environment can be manage by the company but external environment can't be.
External factors are not controlled by the company because they are managed by the outsiders
only. Some factor which the existence of the organisation are as follows:
 Political factor- These factors are impact on performance of the companies.
Further, Primark is dealing in various countries in which they face some political
factors. They have to maintain their performance in order to satisfy needs of the
political parties. According to changes in the rates of taxes Primark have to make
some changes in its product prices otherwise they may be directly influenced by
these factors.
 Economic factors- Economic factors directly influenced the existence of the
company through inflation rates. Inflation rates can be directly effect the
purchasing power of the people. Primark have to make some changes in their
prices accordingly supply and demand of the market. If government of UK
making changes in monitory policy may change purchasing power of the local
people(Gardner and Laskin, 2011).
 Social factor- Primark in dealing in various products in order to increase demand
of their product they have to make some changes in their product. All people have
different mind and also having tastes so, they person choose different good with
different time. In order to meet demands of the customer Primark make some
changes in their product.

TASK 4
4.1 Significance of international trade to the UK business organisations.
International trade refers to exchange of goods and services across the border. Through
this trading product of the companies can be deliver outside the border. Advantage of
international trade is very wide in all over the country. Including greater utilisation of resources,
importing goods which are not be produced in the home country, increases the variety of choices
for the customer(Ferreira, and et. al., 2009). Some which describe the importance of international
trade in UK business:
 Increase in the foreign exchange- Through this trade companies can be increased
its foreign exchange. Companies can be increased fund through which they can be
increased their profits.
 Increase in the value of money- International trade have a potential to increase the
value Euro in comparison to US dollar. This increasing value of money can be
indirectly effect the organisation. It helps the international market to improve its
performance in a world wide.
 Exchange in the products- Organisations are increased their performance in the
international market. Through this trading system companies can be exchange
their product across the border(Enshassi, Al-Hallaq and Mohamed, 2006). The
product companies are not able to produce in their home countries which they can
import from other countries. Entities will import products from other countries
and also export its product and improve its profits.
 Innovative ideas- Organisations take some benefits through international trading
system. Through this trading companies get some innovative ideas to improves
their performance. Innovative ideas help them in various division of work like in
production sector, purchasing raw material, promotion system of their product in
order to improve working capacity.
 Increase sales and profits- Primark can increase its sale and profits as if it use
international trade. Through which they increase their level of revenue as well.
International trade give opportunity to extend sales potential of their goods and
services.

 Reduce dependency- With the trading in various countries Primark can reduce
dependence on existing country and make more profits with other places.
 Stable market fluctuations- Organizations can maintain their market and stable
market fluctuations which may reduce their performance.
 Improve potential- International trade have a potential to enhance potential of for
expansion of their entities.
Illustration 2 : Diagram of significance of international trade
Sources : International Trade, 2013
Illustration 3 : Diagram of Significance of international trade in UK
Sources : Britain Open for Business: The Next Phase, 2014

4.2 The impact of global factors on UK business organisation
There are many global factors which have to considered in the successful business
Primark. For example, the economic situation at international level can affect the sales of the
business in great extent.
 Economical factor- A situation in economic downturn, can results into the low down the
sales of the cited company. In this situation the purchasing power of the people tends to
decrease due to their level of income also decreasing.
 Technological factors- Technological, environmental factors can impact on the business
objectives to achieve the targets on time. In modern era, the firm has to provide the
innovative products and services with the use of new technologies so that it can compete
in the market. The organisation have to upgrade the technologies on regular basis in order
to carry out the smooth functioning of operation activities. Apart from this it is also
supported that to find out new customers and areas for the development of new products
and services.
 Political factors- Some political factors gives opportunities to improve their business
activities in a worldwide global factors are on of them. These factors includes tax
policies, fiscal policies etc. Government support fair trading and framed rules, policies
and procedures for local customer as well as for UK customers. They gives strength to
UK businesses in order to improve their performance(Dong, Wu and Hou, 2009).
Through which companies can improves its production and produce more product and
sell them in a international market. Organisations can provide goods and services and
make more profits. Profits can be increased by them through this international trading
system.
 Legal factors- These factors are impact on businesses on both internal and external
environment. Further, some laws which affect on existence of organizations. International
trade give a opportunities to UK businesses to make more product and try to improve its
performance in a international market. Primark use advance technology to enhance their
performance or increase their promotion. Companies uses advance technology to
promotes its product in a world wide and also in a production function. Whenever the UK

business organisation making effort to improve its working capacity then they consume
more money and earning better return by using advance technology.
 Social factor- Primark deliver products for customers and according to their taste, nature
and preference. Every year world trade organisations give opportunities to organisation in
order to enhance their performance in the market. Through which UK businesses can be
increased their level of trading across the the country. These emerging markets making
great efforts to increase the level of production of every organisation and provide support
to them. UK business can be promote their product across the world in order to attract
more customer. and get some opportunities to earning more profits and providing its
goods and services to their customer(Dollinger, 2008).
 Environment factors- Environmental factors affected by surrounding environment of
Primark. Which include global changes in climate, weather etc. These factors are having
direct impact on the company, most of the companies are working with the advance
technology in to the marketing, selling and advertising. So it is essential for the
PRIMARK to use advance technology in their activities to increase efficiency.
4.3 The impact of policies of the European Union on UK business organizations
It has been noticed that policies framed by the EU has great impact on the business firms
of UK. If any business firm is not having reference of EU policies then diverse issues might be
faced by company. Consumer protection act, EU Emission Trading Scheme and Climate act are
key legislative aspects which need to referred effectively in order to meet objectives. It has been
noticed that tax rates must be followed as per standards of EU. If company is not having an
appropriate consideration of tax rates then legal issues might be faced. Favourable tax and trade
polices helps company to run its business operations and expand business cross country in a
proper manner. Along with this, Primark can reduce the risk factor by having application of EU
policies because policies of EU enhances the quality aspect(Chi, Kilduff and Gargeya, 2009).
Monetary system effect supply and affect interest tax, cash reserve ratio necessitate of banks
and execute the function of being a control for inflation. Financial policies mention to the
collection of tax income and disbursement by the governance. These influence the interest rates
that exist end-to-end the economic system.
Moreover, all these policies have direct impact on the HR practices which are made by the
Primark organization for their employees. It means work standards within Primark can be

advanced effectively by having an focus on policies. If international trade aspects are having
changes then management need to ensure that changes in organisational policies is also
according to changes in international law. As Primark is retail sector organisation so
management need to focus on standards which promote work conditions. For example, EU has
decided that products and services offered by retail firms must checked under quality process. It
means company need to employ the process in order to meet such criteria. By having an
application of such values the issues can be overcome in desired manner. Such kind of
improvement allows to advance the brand image and profitability. It helps in leading business
towards impressive level of success.
CONCLUSION
The above concluded report is having focus on the business environment of the
PRIMARK which is having huge impact on the company. Stakeholders are making their efforts
for the company so they are having huge expectation from the company regarding to the salaries
and workplace facilities like; shelter, clean drinking water and lunch area. PRIMARK is
fulfilling all the expectations of them by providing all these facilities. As the company is working
in the international market they are having huge impact from the political, economical, social and
technological factors so they have to make changes accordingly in their business activities. EU
also impacting on the UK business organisation andREFERENCES on their international trade
which is having huge significance for the companies. So organisation's which are working with
the EU employees and having affair in the international trade have to make change in their trade
and employment policies according to the EU policies to make better working environment
which helps them to achieve their business objectives.

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