Analyzing Business Environment and Corporate Social Responsibility

The report delves into the crucial role played by the business environment in fulfilling organizational needs and wants. It evaluates long-term management performance and emerging market networks to understand the impact of both micro and macro factors on business growth and decision-making. Furthermore, it discusses the importance of ethical responsibility and specific work goals while exploring the significance of corporate social responsibility (CSR). The report concludes that CSR makes businesses more accountable for their social and environmental impacts, fostering responsible and sustainable growth.

Context of Business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explaining the micro and macro factors.....................................................................................1
Explaining the importance of being a ethically responsible towards the CSR...........................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business environment is the sum of external or internal factors that directly or indirectly
affect the overall business goals and objectives in different situation. In other words, company
should need to acquire long lasting development results to make the company environment
positive and sustained. Present study discussed about the fashion and clothing sector in which
report will be taking Primark fashion retail company which is situated in London. Primark is
known for its high branded fashion outlets. Moreover, in this present report, researcher will be
described the micro or macro factors and also analysed the external factors that directly affect the
business growth. On the apart it also explains about the importance of ethical business
responsibility to sustained the company aims and objectives.
MAIN BODY
Explaining the micro and macro factors
Micro factors
 The Suppliers: Supplier is the most significant micro factor that affect business
indirectly (De Mooij, 2018). In fashion retail market, supplier is more powerful and
strong due to high demand of quality raw material. It is very necessary for the Primark to
accomplish the needs of suppliers to be more productive and manufacturing unique
product quality.
 The Customers: customers are the king of the market its needs and wants are the first
priority of the company to be accomplished. It must for Primark to analyse the current
market demand and make product accordingly. Due to slow in grabbing the opportunity
will get company in more loss.
 The Competitors: competitors are the primary factor that affect business in continuous
manner by launching new product or services in the market and attract customer
attraction (Gupta, S. and Gentry, 2018). Such as for Primark major competitors are
H&M, M&S, New Look, Matalan etc. before making decision in regarding product
services, it is very essential for the Primark is to analyse the competitor’s strategies and
goals.
 The Mediators: Mediators are the resellers who deal in between customers or
manufacturers. Without mediator’s manufacturers are not able to sell their product to the
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end customers. For that, it is necessary for the company to maintained the good relation
with the resellers to get the good outcomes and sales revenue.
Macro factors
 Economical: Economic factors are generally influenced by the unstable conditions of
country due to which customers are suffering from low investment instead of investing
on products (Rayman-Bacchus, 2017). This factor can make economic conditions
unstable and frequent.
 Legal: legal factors always ensure that weather company deal with legally or not. If they
found in any wrong activities, it would be given negative impact on the image of overall
business task.
 Political: Sound marketing decision should always take into account political and or legal
developments relating to the organisations and must be considered.
 Technological: technological factors have always be given positive impact on the fashion
retail sector by introducing emerging market trend and different channel to buy or sell
product in online manner. In other words, technology factors have always create new
opportunity for the buyer and seller.
 Social: Social factor directly affect the reputation of company if they are not following
the social responsibility. In order to reduce the wrong impact of social factors, company
always need to make sure they followed all society implications and understand their
needs.
 Environmental: Enviornmantal factor have always be considered at the first priority
otherwise it affects the overall business objectives. Environment is always dynamic and
uncertain in nature. So accordingly, company needs to adopt.
Explaining the importance of being a ethically responsible towards the CSR
The main importance to be ethically engaged to adhere ethical responsibility is very much
significant for the company to sustained in the market as long term manner (Kau and Ghumman,
2017). Apart from that, it helps to rebuild the long range of dynamic performance to make the
work more effective and challenging for the company to adopt all ethical responsibility.
Being socially responsible company can hold better position in the market. In other ways
to make the new working goals and bring new opportunity and goals to be more energetic and
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influencing. Corporate social responsibility is the process to make sure weather company
accomplish their responsibility or not.
To be ethical and legal it helps company to reduce in cost or it will become easy for the company
to start engaging in sustainability in the market. It also helps company to differentiate in past,
brand differentiation was one of the primary reasons companies embraced CSR. To be more
energetic and effective to be longer lasting and developing result goals it is very easy and long
lasting for the company to make the best outcome results and bring new working opportunity and
goals (Kumar, 2017).
CSR make business responsible and encourage business to act ethically and to consider
the social and environmental impacts of their business growth. It will help to reconsider the new
working goals and make the business more responsible and enlarging towards the more enlarging
process and goals (Malik and Kanwal, 2018). CSR is the activity in which company has to be
focused on the society development in order to attract the customer attention and long range of
style management and goals. in other words, Primark should need to follows the all corporate
social respo0nsiblity in order to be in the market a good business man. Besides, it will be given
huge advantage to the company to make the things more effective and challenging. Besides, it
will be more effective and promoting the business activities. To be responsible towards their
responsivity will always be given good outcomes and growth (Padmanand and et.al., 2016).
CONCLUSION
As per the above report, it has been concluded that business environment plays a most
crucial role in order to fulfil the business needs and wants. In other words, it also need to
evaluate the long-lasting managing performance and emerging market network. Overall, report
concluded that at what range both micro and macro factors affect the business growth and
decision making. Besides, it also discussed about the importance of ethically responsible and
certain work goals. report also explained about the significance of corporate social responsibility.
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REFERENCES
Books & Journals
De Mooij, M., 2018. Global marketing and advertising: Understanding cultural paradoxes.
SAGE Publications Limited.
Gupta, S. and Gentry, J. W., 2018. Evaluating fast fashion: examining its micro and the macro
perspective. In Eco-Friendly and Fair (pp. 33-42). Routledge.
Kaur, R. and Ghumman, M. N. S., 2017. A REVIEW ON RESOURCE ALLOCATION
MECHANISM IN CLOUD ENVIORNMENT. INTERNATIONAL JOURNAL OF
COMPUTERS & TECHNOLOGY. 16(1). pp.7562-7566.
Kumar, S. V., 2017. Corporate social responsibility in India: an over view. Journal of Asian
Business Management, 9, pp.53-67.
Malik, M. S. and Kanwal, L., 2018. Impact of corporate social responsibility disclosure on
financial performance: case study of listed pharmaceutical firms of Pakistan. Journal of
Business Ethics. 150(1). pp.69-78.
Padmanand, V. and et.al., 2016. Rise of the Third World: In the Enabling Policy and Business
Environment. Small Enterprises Development, Management & Extension (Sedme)
Journal. 41(3).
Rayman-Bacchus, L., 2017. Perspectives on corporate social responsibility. Routledge.
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