Detailed Business Report: Primark's Strategic Analysis and Growth

This report provides a comprehensive analysis of Primark's business operations, focusing on various aspects such as human resource management, marketing, and accounting. It begins with an introduction to innovation and its importance for business development, followed by a review of Primark's firm and industry. The report identifies key problems within Primark, including challenges in HRM, operations, and marketing. It then explores resources of data models, theoretical concepts like Six Sigma and Design Thinking, and research methodologies. The core of the report lies in proposing solutions and a constructive implementation plan, emphasizing the use of technology and employee training. It also delves into innovation and methodologies for identifying potential issues, such as innovation audits and staff interviews. Key findings and recommendations, based on the SMART framework, are presented to ensure measurable and achievable goals. Finally, the report concludes with a summary of the findings and references supporting the analysis.

REPORT ON PRIMAKR

TABLE OF CONTENT
• Introduction
• Firm and industry review
• Problem identification
• Resources of data models and theory concepts
• Solution and Constructive plan for implementation
• Innovation & Methodology to identify potential issues
• Key findings
• Conclusion
• References

INTRODUCTION
• Innovation is named as providing newest
form or giving a new shapes the present
thoughts if you want to convey development
within the present enterprise procedure.
• Innovation is critical for every enterprise if
they want to acquire productiveness as well
as performance within the enterprise

Firm and industry overview
• Primark is a main international organisation this is running in
specific international locations with a complete of 390 shops in 12
international locations.
• With the worldwide brand, it gives you fine services and products to
its trusted consumers. It has nearly 78000 personnel in Primark under
its own possession.
• Based to the marketplace studies on Primark, the income of the
agency have been estimated from the year 2019 as 7.79 billion.

CONTINUE…..
• The agency develops maximum of the income from meals as well as
clothes. The international sales of the Primark changed into mentioned as
consistent with 10.2 billion through the 12 months of year 2020.
• It is magnificently acknowledged for handing over the stylish clothes to
its consumers. Other than this it provides meals offerings as well as
confectionary offerings.

Problem identification
• Management of human resource: HRM is the characteristic which
consists of growing as well as preserving the workforce of a
business. HRM is Primark ought to hire the maximum proficient as
well as professional personnel within the company.
• Operations: Operations are decided via way of means of
accomplishing the everyday sports of the commercial enterprise as a
result as well as operational supervisor in Primark is accountable to
obtain the fine of the paintings on the office.

CONTINUE…..
• Marketing: As Primark is a international retailer, for that
reason advertising is an critical characteristic of the enterprise
which the employer places focuses on. Marketing is critical to
sell as well as supply the advertising goals of the enterprise to
its global consumers.
• Accounting: The accounting branch is accountable to
appearance after budget of the enterprise that entails figuring
out the supply of the money as well as allotting topic at the
enterprise tasks.

Resources of data, models and
theoretical concepts
• Primary sources: Primary sources are described because the
statistics this is developed from the number one assets of
records, it's miles developing sparkling records are likewise
referred to as first hand records
• Secondary sources: The secondary sources are analysed whilst
statistics is being amassed from a secondary assets such as
newspaper, internet, and various other sources. It includes
amendment of previously used statistics, it's also referred to as
2nd hand records.

CONTINUE…..
• Research methodology
• Research methodology is being identified by utilizing the
correct procedure along with algorithms for competing
respective target; it includes gathering of data, choosing the
required process as well as executing the procedure for you to
acquire the preferred target.

CONTINUE…..
• Six Sigma: Six Sigma is identified by the procedure of
enhancing the efficiencies of the enterprise methods.
• Design Thinking: This is a way which is mentioned by
utilizing to the modifications in procedure as well as services
of the enterprise.

Solution & Constructive Plan
for implementation
• Identify the problem: The diagnosed issue of various business
operations in Primark is that the inefficiency of the performance
monitoring by the leader in the various operational functions
because of that they may be now no longer capable of acquire the
working requirements of the work.
• Solution for the diagnosed problem: In relation to offer desired
conclusions of diagnosed issue, accepting to the cutting-edge
generation is the belief interested in remedy diagnosed issue.

CONTINUE…..
• Training to the employees: After executing the required
technology in the office, it is relevant to provide development
and training scope to the staff so that they are competent to
know the use of technologies. Development and training tasks
in the office assists to achieve the workplace success as well as
developing high skilled employees in a business.

Innovation and methodologies
to identify any potential issues
• Innovation audit methodology is identified by analysing the
success of the organisation by mentioning the modifications as
well as innovation in the action.
• In relation to innovation audit methodology, staff in Primark
are interviewed with several question related to their thoughts
to various workplace issues.

CONTINUE…..
• Leaders in Primark enquire wished solution from various staff
that how they can enhance the present business issues and turn
it to profitable business situation.
• Various staff provides solutions to the analysed issue that
assists to bring to collaborative decision making as well as thus
executes enhanced modifications in the business functions.

Key Findings and
recommendations
• Specific: Leaders in Primark should identify that the targets as well as
modifications that requires meeting by the completion of the objective.
• Measurable: The targets identified should be measurable.
• Achievable: The identified changes should be achievable, wherein leaders in
Primark should identify the resources of the organisation that includes staff,
fund needs to implement modifications as well as technical needs of the
organisation.

CONTINUE…..
• Relevant: The target should be relevant; leader is
required to develop surety that the modifications accepted
by the organisation suits its objectives.
• Timely: The targets should be timely completed by fixing
the timeline of the set modifications.

CONCLUSION
• It can be concluded that creativity as well as innovation are
the essential elements that is needed for the organisation to
bring modifications in the present items in relation to achieve
the wished benchmark of outputs.

REFERENCES
• de Carvalho Botega, L.F. and da Silva, J.C., 2020. An artificial
intelligence approach to support knowledge management on the
selection of creativity and innovation techniques. Journal of
Knowledge Management.
• Fadipe, E.O., Obiana, U.V. and Aishatu, M.Z., 2021. Creativity
and Innovation Through Technical and Vocational Education
for Sustainable Family Survival in Nigeria. European Journal
of Training and Development Studies. 8(1). pp.19-26.