Retail Fashion Industry: Responding to Global Business Environment

This report provides an overview of the global business environment since September 2017, focusing on the retail fashion industry. It examines how changes in the international environment, such as political factors like Brexit and technological advancements, have affected companies like Marks & Sp...Read More

CW1: GLOBAL BUSINESS
ENVIRONMENT PORTFOLIO
PAPER

Table of Contents
INTRODUCTION.....................................................................................................................................3
TASK..........................................................................................................................................................3
Overview of global business environment since September 2017 to date for a retail fashion industry....3
How changes in the international environment have specifically affected companies that are operating
in retail fashion sector..............................................................................................................................3
Determining drivers of changes and how companies have responded each.............................................4
CONCLUSION..........................................................................................................................................4
REFERENCES..........................................................................................................................................5

INTRODUCTION
Global business environment is defined as crucial and critical environment under which
several types of companies are operating and running their ventures in effective manner. The
current assignment will be based on retail fashion industry, which falls under the category of
leading and most profitable sectors in the world. The study will explain an overview of global
business environment in the context of chosen sector. It will also define fluctuations that
impacted firms and drivers of changes, which each company consider to give appropriate
respond.
TASK
Overview of global business environment since September 2017 to date for a retail fashion
industry
Since 2017, there are several types of factors emerged in global business environment
that lead to decrease and increase productivity of companies, which operated under it (Galvis and
et.al., 2020). Just because of each factor, certain changes raised and required in the business
world that may put direct or indirect impact on productive organizations.
How changes in the international environment have specifically affected companies that are
operating in retail fashion sector.
Within retail fashion industry, organizations such as Marks & Spencer, are facing several
challenges just because of changes in business environment. For example, Br-exit as political
factor may put negative impact on varied companies such as ZARA, H&M, Marks & Spencer,
etc. that are operating under chose sector. It may lead to decrease sales, productivity and brands
profitability (Kaur, Arora and Bali, 2020). This force may change the way or process, through
which firms may conduct their trading operation in effective manner.
Technological change is another element that may put direct impact on profits margin
and productivity of companies like above but in positive manner. It may contribute to increase
operational effectiveness of firms in term of generating excellent brand awareness, which is not
that easy to do so for any company, whether it is small or large.

Social-cultural trends such as online shopping may put positive impact on M&S and
others firms that are running ventures into chosen industry. Social distancing is another factor
that impact on sales in term of decreasing number of customers visit at specific retailer outlet.
Determining drivers of changes and how companies have responded each
By referring of Kurt Lewin model, driving and restraining forces are considered as
drivers of change that may put impact on retail fashion industry companies (Tracy, 2020). For
example, human resource capabilities are the best example of internal driver of change,
according to which a company may respond to external factors in effective manner. It may
enable brands to be strong and competitive for long time, without taking too much stress of
market competitiveness.
Another example of drivers of change is current market trends that may put direct impact
on customer’s needs. Organizations may give appropriate respond of that in term of conducting
effective research and making changes within existing plans (Muldoon, 2020). These types of
responds may enable firms to be competitive and profitable in this world.
CONCLUSION
On the basis of above discussion, it has been concluded that organizations while running
and managing their businesses in retail fashion industry, have gained competitive edges. They
have given tough competitive to each other and also developed effective plans for purpose of
overcome the impact of each driver of change.

REFERENCES
Book and Journals
Galvis, F.A and et.al., 2020. Overview of collapsed buildings in Mexico City after the 19
September 2017 (Mw7. 1) earthquake. Earthquake Spectra, 36(2_suppl). pp.83-109.
Kaur, J., Arora, V. and Bali, S., 2020. Influence of technological advances and change in
marketing strategies using analytics in retail industry. International journal of system
assurance engineering and management. 11(5). pp.953-961.
Muldoon, J., 2020. Kurt Lewin: Organizational Change. The Palgrave Handbook of Management
History. pp.615-632.
Tracy, J.A., 2020. Be a champion for change by using Lewin’s 3-stage Model of Change. RDH.
40(2). pp.18-20.