CW1: Global Business Environment Portfolio Paper: Fashion Retail

This report provides an analysis of the global business environment, with a specific focus on the fashion retail industry. It examines the various factors influencing the industry, including cultural, economic, geographical, and political-legal aspects. The report highlights the significant contribution of the fashion retail industry to national growth and GDP, as well as its role in meeting customer demands. It explores the impact of social media, affordable pricing, and advertising on the growth of fashion retail. The report also delves into ethical practices, sustainability, and the adoption of the Kotter model by Marks and Spencer to manage change and ensure long-term growth. The report concludes by emphasizing the importance of understanding the global business environment and adapting to changes to ensure sustainable growth and profitability.

CW1: Global Business
Environment Portfolio Paper
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INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
CONCLUSION...............................................................................................................................................4
REFERENCES................................................................................................................................................5
Books and Journals......................................................................................................................................5
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INTRODUCTION
Global Business Environment involves number of sustainable countries along with the
factors those who are having significant capability to influence decision making process of an
organisation (Mushtaq and Khan, 2020). There are different aspects of global business
environment that are cultural, economical, geographical and political and legal aspects. All these
factors can impact on company internal and external business processes like trade agreements,
exports, trade relation imports of materials and more. In these report formative discussions has
been conducted on fashion retail industry along with the factors that are having impact upon their
operations.
MAIN BODY
Retail fashion industry is the segment of retailing sector which is acting as an intermediary
among manufacturing and customers (Yoon, 2020). This industry is having significant
contribution in nation growth and GDP and fulfils needs and demands of large base of customers
in an effective manner. According to the evaluation it has been evaluated that since 2017 fashion
stores in United Kingdom blooming with help of social media, affordable pricing segment, top
media advertising agency and more. It has been identified that by the year 2025 fashion retailing
would have passed by the 2 billion dollar mark. This upward trend significantly facilitate rise in
future of fashion retail.
There are number of factors and trends that are having impact upon fashion Retail Industry.
As per the analysis it has been underlined that fashion Retail Industry is having significant
impact which is acting as an essential trend in which consumers and governments want retailing
manufacturers to conduct ethical activities (Kasemsap, 2020). Government of United Kingdom
also encouraging fashion retailers to adopt choices to support ethical values across supply chain
along with this engagement retail is also a new trend in which retailers are required to engage
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customers in order to provide them information about their processes and to have a transparent
communication source. Retailers are also subjected to facilitate customers about products and
services features in order to attract their attention towards brand in a significant manner. It has
been evaluated that Marks and Spencer is a leading fashion retail which is practicing ethical
Audit and significant corporate ethical business practices according to Government measures.
There number of sustainable practices, changes in demand of customers and more that are acting
drivers of change that are making fashion Retail Industry to adopt new theories and models to
assess long-term sustainability and development (Zámborský, 2020). It has been determined that
in order to effectively embrace change M&S is taking advantage of Kotter model in order to
achieve changes and bring changes in organisational workplace premises in order to assure more
future growth and development. With the help of this process M&S communicate employees
within need of change and assure short term wins in order to bring change in a continuous
manner (Onyshchenko, Maslii and Ivaniuk, 2020). It has been identified that M&S have
partnership with Oxfam in order to collect the old and used clothes with the help of this entity
can not only benefit stakeholders and attract customers but also protect environment through
which they gain support from government in an effective manner.
CONCLUSION
According to the above mentioned report it has been evaluated that global business
environment is inclusive of number of factors that can significantly affect organisation
operations and activities. There are number of laws, legislations of government that can impact
upon business operations of organisation. It is essential for an entity to have proper
understanding of changes along with their impact on business activity and further overcome
them with different theories and models in order to support chain and assure long-term
sustainable growth and profitability within industry.
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REFERENCES
Books and Journals
Mushtaq, S.A. and Khan, F.A., 2020. The Curve Of Cross Border Cartel Enforcement
(Challenges and Remedies in Global Business Environment). Journal of Accounting and
Finance in Emerging Economies, 6(1), pp.73-86.
Zámborský, P., 2020. A blueprint for succeeding despite uncertain global markets. Journal of
Business Strategy.
Kasemsap, K., 2020. The role of strategic outsourcing in global business. In Foreign Direct
Investments: Concepts, Methodologies, Tools, and Applications (pp. 236-268). IGI
Global.
Ncube, M., Soonawalla, K. and Hausken, K., 2020. The links between business environment,
economic growth and social equity: a study of african countries. Journal of African
Business, pp.1-24.
Onyshchenko, S., Maslii, O. and Ivaniuk, B., 2020. The impact of the external environment on
the economic security of Ukrainian business. ЕКОНОМІКА І РЕГІОН Науковий вісник,
(1 (76)), pp.22-29.
Yoon, C.Y., 2020, March. Analyzing Enterprise Smart Business Capability in a Smart
Technology Environment. In 2020 3rd International Conference on Information and
Computer Technologies (ICICT) (pp. 224-229). IEEE.
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