Primark Business Environment: Stakeholders, Policies, and Markets

This report provides a comprehensive analysis of Primark's business environment. It begins by examining the purposes of different organizational types, including public sector, charity, and cooperative firms, with a focus on Primark's mission and vision. The report then delves into the objectives of Primark's stakeholders, such as suppliers, customers, employees, and trade unions, and outlines Primark's responsibilities in meeting these objectives. The analysis further explores the impact of different economic systems, including those of Cuba, the UK, and China. It examines the influence of fiscal and monetary policies on the farming and housing industries. The report also discusses competition policy and its impact on worker performance, followed by an examination of how market structures determine pricing and output decisions. It also covers how market forces shape organizational responses and how the business and cultural environment affects Primark's behavior. Finally, the report assesses the significance of international trade to UK enterprises, the impact of global factors, and the influence of European Union policies on UK businesses.

BUSINESS ENVIRONMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Purposes of different types of organisations.........................................................................1
1.2 Objectives of different stakeholder which need to be meet by Primark...............................2
1.3 Responsibilities to meet stakeholder objectives....................................................................3
TASK 2............................................................................................................................................4
2.1 Economic system of different market structures...................................................................4
2.2 Impact of fiscal and monetary policy on farming and housing.............................................5
2.3 Competition policy that create impact on workers performances.........................................6
TASK 3............................................................................................................................................7
3.1 How different market structure can determines pricing ad output decisions........................7
3.2 Market forces can shape to organisational responses...........................................................8
3.3 How business and cultural environment can shape to the behaviour of Primark.................9
TASK 4..........................................................................................................................................10
4.1 Significance of international trade to the UK enterprises...................................................10
4.2 Impact of global factors......................................................................................................11
4.3 Impact of European union policies on UK enterprise.........................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Business environment possess various internal and external factors which affect the
company’s performance. To enhance the market share and profitability it is important to assess
environment of enterprise which provides opportunity to expand business operations in an
effective manner (Alonso‐Almeida, Fernández de Navarrete and Rodriguez‐Pomeda, 2015). In
this way, the enterprise can improve their performance through assessing environment in which
they are operating. Present report is based on Primark which is the retail clothing industry and
provides different types of clothes to women, children and men as well. In addition to this, they
are selling products and service in all areas of world through online and offline both types of
stores.
In order to focus on this study, report covers objectives of different stakeholder who
perform for the business. Furthermore, it includes impact of fiscal and monetary policy on
farming and housing industry. Moreover, pricing and output decisions are ascertained through
different market structure. In addition to this, it analyze the impact of global factors on UK
enterprise.
TASK 1
1.1 Purposes of different types of organisations
Each business focus on their functioning to achieve goals and objectives. In this way,
their aims and strategy can be different from other company through they can achieve
competitive advantages within the market (Bernstein, 2015). Therefore, different organisation
determines their purposes in the following manner:
Public sector: This sector business operates their functions for the welfare of public. Their main
aim to provide effective and low cost services to customers for enhancing their living standards.
They perform different types of functions and operation which are beneficial for the
development of customers. British airway is the public limited company which operates
functions for the public. In this aspect, brand image of the enterprise (Kale, 2014).
Charity: Charitable businesses is working to save people rights, remove wars, helping to poor
and vulnerable persons. They are also providing education to them for enhancing their
knowledge regarding rights and many other things. In this aspect Charities Aid Foundation
(CAF) is working to remove poverty through providing shelter and food facility to people. It will
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assist to enhance living standard of people at workplace. Their main aim is to remove poverty
from workplace (Schaper, 2016).
Cooperative firm: In cooperative businesses, various people work together to achieve common
objectives and goals. Their main aim is to increase fund to invest more money that assist to
achieve positive results and enhance revenue from different activities and actions. They work
together for sharing profits and loss which occur after deal and many other aspects. CBH is
cooperative society of UK market who is operating different types of functions and operations
through sharing profits and loss (Williams and Schaefer, 2013).
Mission of Primark
Primark is working as a private organisation whose mission is to earn more money
through providing effective products and services to the customer. They offer different types of
products and services to attract potential customer.
Vision of Primark
The chosen company has the vision to provide products and services at the low cost so
that they can maintain sustainability at workplace (Kliegl and Weaver, 2014).
1.2 Objectives of different stakeholder which need to be meet by Primark
In UK, Primark is working as the largest cloth retailer company which operates in more
than 50 countries and 200 outlets. They are mainly organising activities for those customers who
are more concious about fashion-driven. In this context, various types of stakeholder are working
who contribute their participation to achieve goals and objectives (Alonso‐Almeida, Fernández
de Navarrete and Rodriguez‐Pomeda, 2015). They are as follows:
Suppliers
Primark is dealing in diverse range of products and services such as clothing, food and
many others. Thus, they require raw-material to produce finished products. In this way, they
depend on the suppliers and their objectives are to get right payment of raw-material. Therefore,
the cited firm need to provide them timely payment which assists to meet with objectives and
goals of the business (Cao, Duan and Li, 2015).
Customers
Customers are also most important stakeholder through Primark can earn money. They
want to get qualitative products and services according to their demand from the enterprise.
Therefore, the cited firm need to provide them products and services at the low cost by
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understanding their demand. In this way, they can easily meet the objectives and goals of
stakeholder of the business.
Employees
Employee of the organisation provides products and services to the customer. They
possess functions and operations to get right wages and appropriate working environment
(Lamm, Tosti-Kharas and King, 2015). Thus, Primark is required to provide them with wages
and effective working environment through they can make sustainability of workers within the
enterprise.
Trade union
Trade union determines rules and regulation for the business such as wages of employee,
working environment and many other activities. To meet their objectives, Primark needs to
follow all rules and regulations which frame to focus on activities and actions. It will assist in
maintaining relations with different people at the workplace (Folke and Kåberger, 2013).
1.3 Responsibilities to meet stakeholder objectives
For stakeholder of the company, Primark has various responsibilities which are as
follows:
 For customers: Customer of the company possesses effective roles so that Primark is
responsible to provide them qualitative products at low cost. In this way, they can also
deal with effective results to provide them effective products and services. The company
need to avoid selling products at high price. They can use customer based marketing
which assist to satisfy customer.
 For employee: To focus on sustainability of workers, Primark is required to focus on the
working conditions and payment of workers. In this aspect, the chosen firm demonstrate
same rules and regulations to all workers. It will create positive impact on the workers
regarding business policy and outcomes. In addition to this, health and safety which is
determines at workplace for employee of the company to protect them. It makes
successful operations and outcomes through eliminating hazards at workplace which face
by employee to operate functions. Professional act can be taken at workplace to attract
and retain employee with ensuring performances at high level (Narula and Verbeke,
2015).
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 For trade union: Trade union frame their policy towards the company. Thus, the cited
firm has responsibilities to meet following regulations to maintain relations and outcomes
in an effective manner. Primark is required to concentrate on the activities which
influence by rules and regulations of trade union.
 For suppliers: Suppliers take place to get payment on time. Therefore, the chosen
enterprise is responsible to provide them payment to gain raw-material on time. It will
assist to deliver positive impact on the performances of Primark towards their suppliers.
 Corporate social responsibilities: Further, Primark need to focus on care about well
being for society people (Alonso‐Almeida, Fernández de Navarrete and Rodriguez‐
Pomeda, 2015). It can be done through help them by eliminating vulnerable.
TASK 2
2.1 Economic system of different market structures
Economic system is different from country to country. It assists to demonstrate demand
according to market functions and operations. In this way, the organisation implement their
resources and outcomes to achieve the best results (Narula and Verbeke, 2015). There are
different economic system are take place are as follows:
 Cuba's economic system: Cuba possess planned economic system which dominated
through state-run enterprises. Most of the business are owned their resources according to
government. In this aspect, all rules and regulations are frames through support each
activity and goals at workplace. Hence, the country can target according to government
decisions. It will encourage to various people through follows rules and regulations
according to market demand and operations. It can be support to enterprise to enhance
their profitability through implement resources according to government power (Folke
and Kåberger, 2013).
 UK's economy system: UK possess mixed economy system in which some decisions are
made according to market decisions and other by government. According to customer
own choice they can buy products and services from the marketplace. It will encourage to
them through operations to gain high profits and revenue at workplace. High level of
efficiency frame which determine to follow all rules and regulations. Government take
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decisions such as building of roads, infrastructure development, supply of water and
medicine, etc.
 China's economy system: China has command economic system which determines rules
and regulations to operate functions effectively. Government frame strict rules and
regulations to make changes and outcomes in effective manner (Kozubíková, Belás and
Bartos, 2015). In this way, changes are also takes place which make profitability to
produce effective products and services. Beside this, government determine what to
produce, how to produce and whom to produce. Therefore, every business perform
functions according to government decisions.
2.2 Impact of fiscal and monetary policy on farming and housing
Fiscal policy is determines through government which assist to make spending level and
tax rates. It assists to monitor on performances of the company and outcomes which assist to
gain profitability in country. Functions of government are demonstrates for assess spending
level. Beside this, monetary policy demonstrate through central bank which assist to assess
supply power of the country. It creates impact on the different sector of the business in nation
which are as follows:
Impact of fiscal and monetary policy on farming:
Fiscal policy is very important element which determines development of the nation. It is
instrument that assist to promote distribution facility of the company that are related to
agricultural business. It can be demonstrating through improvement in technology, human capital
and other areas of development. Beside this, agriculture business also affected through monetary
policy that assist for managing resources and outcomes. This types of sector can make new
production system which assist to determine adequate funding facility that done in proper
manner (Folke and Kåberger, 2013).
Impact of fiscal and monetary policy on housing:
Fiscal policy also create effective impact on housing facilities. This is because, middle
level people are unable to efforts to purchase house so that it create negative impact on their life.
In this way, this policy assist to enhance living standard of people that enhance aggregate
demand on direct and indirect resources. It includes personal incomes and opportunities of
employment. On the other hand, monetary policy enacted through central government which
determinative to interest rate inflation within the nation (Narula and Verbeke, 2015). It brings
5

forth major impact on housing business. This is because, supply can discourage to expansion and
customer spendings. Therefore, adverse impact is take place through exporting facilities of the
company.
2.3 Competition policy that create impact on workers performances
In UK there are various policies frame which create impact on the business performances.
Primark working very effectively within the market which create unfair trade practices at
workplace. It assists to improve efficiency through identify some potential impact on the
enterprise performances (Kozubíková, Belás and Bartos, 2015). There are different types of
competition policy take place within the market that are as follows:
 Impact of competition policy: This act is made to assess impact to fulfil purposes of the
company through competing with various businesses. It assists to identify frameworks
that identify frameworks of business practices. It also maintains standard of the company
through organize practices at workplace (Alonso‐Almeida, Fernández de Navarrete and
Rodriguez‐Pomeda, 2015). It also creates positive impact on Primark which can assist to
identify qualitative goods and services. Sales can be increases with the help of operations
of business. It can help to enhance sales and revenue of the nation.
 Impact of regional policy: European union allocates different types of resources which
assist to allocate fund within the nation. In this way, job opportunities assist to enhance
income level (Adeleye, Ibeh and White, 2015). As results, positive impact can be occur at
Primark operations so that they have chance to enhance operations within the
environment.
 Impact of industrial policy: This policy is working for development of industry of UK
market. It assists to encourage small business enterprise which can be develops
contribution for economic growth of the nation (Beske, Land and Seuring, 2014).
 Impact of training and skills policy: Government determines some rules and regulations,
for training and development program of employee. In this aspect, Primark work
effectively through providing proper training to enhance workers skills and performances
(Goedertier, Vanthienen and Caron, 2015).
 Impact of fair trading act 1973: This act is frame to fair dealing with various elements of
the company. In this way, the chosen firm need to deliver their resources same to all
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employees at workplace (Brea‐Solís, Casadesus‐Masanell and Grifell‐Tatjé, 2015). In this
way, it creates positive impact on the workers performances that can be make loyalty of
customer to operating functions and operations in Primark.
TASK 3
3.1 How different market structure can determines pricing ad output decisions
There are different types of market structure are take place within the nation through
business can run their operations. It assists to make effective pricing and output decisions in
nation for every organisation. There are different types of market structure take place which
make positive impact on the performances (van Buuren, van Nieuw Amerongen and Wright,
2014). It assists to make successful operations at workplace of enterprise. They are as follows:
Market structure Attributes Decisions of pricing and
output
Perfect competition This type of structure possess
various buyers and sellers
within the market so that it is
known as perfect competition.
In this type of structure same
type of products and services
are selling by the
organisations. There is no
impact on customer and seller
when someone moves towards
other. For example, Primark is
operating as retailer and there
are various competitors take
place within the nation
(Alonso‐Almeida, Fernández
de Navarrete and Rodriguez‐
Pomeda, 2015).
Pricing and output decisions in
this market structure is follows
according to market demand of
customer.
Monopoly In this type of market structure Pricing and output decisions in
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only one business take place
who set price for particular
product and services. They can
make price of products
according to their choice only.
There is no entry of another
business to operate functions
in UK. For example, British
petroleum operating functions
as monopoly business.
this market structure is follows
through one business who
operates functions and
operations.
Oligopoly Another market structure is
following by Tesco which has
few competitors in the market.
This structure, it frames where
only few business operating
functions at high prices (Kliegl
and Weaver, 2014).
Competitive strategy assist to
get pricing and output
decisions within the market.
Duopoly This structure is considering
operations same within two
business such as Apple and
Amazon. They both are
working as a dominating
position in the marketplace.
Market structure is dominating
through assess impact of two
firms. In this aspect, two firm
are taking responsibilities to
make decisions within a
marketplace (McBride, 2014).
3.2 Market forces can shape to organisational responses
Market forces are determines power of demand and supply which can directly impact to
the worth and operations of the business. When Primark operating new functions and operations,
different forces are take place which create impact on their performances. For instance, demand
curve determine actual outcomes of products and services in different rate of market (Beske,
Land and Seuring, 2014). They are as follows:
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Increasing demand curve
Increasing demand curve occur when it is increasing and shift towards right side. When
Primark set their products price at constant rate, they can easily create high demand which assist
to make profitability at workplace (Goedertier, Vanthienen and Caron, 2015).
Decreasing in demand curve
Decreasing demand curve schedule with changes in business strategy and outcomes. In
this way, product demand is goes downside which assist to manage need and preferences of
customer. This situation occur when substitute products are take place within the market.
In addition to this, government policies and regulations are also changes at workplace
which determines to response towards products and services of Primark. There are various
changes in these rules and regulation can shape to business position (Cao, Duan and Li, 2015). It
has been identified that rising in price can adverse impact on demand and supply of products and
services of Primark.
3.3 How business and cultural environment can shape to the behaviour of Primark
External environment can also create shape to the business performances of Primark.
Cultural environment greatly impact on Primark operations and outcomes. There are various
elements in business-environment which create impact on the performances such as political,
economical, social, technological, legal and environmental (Narula and Verbeke, 2015). These
all factors influences to the behaviour and activities of the cited firm. Changes in taxation can
impact on price of stylish products and services of the organisation. In this way, decreasing in
price create high demand of products and services of Primark. Culture and social factor includes
changes in customer taste and preferences which also create attitude of individual need that
determines to purchase of products and services from the company (Arquero and Romero-Frías,
2013). In this way, the chosen organisation need to engaging in manufacturing of products and
services according to customer needs. It will assist to get high revenue and profits at workplace.
In addition to this, economic factor create impact due to changes in currency exchange
rates. It will create impact on the chosen business when they are operating functions in
international marketplace (Brea‐Solís, Casadesus‐Masanell and Grifell‐Tatjé, 2015).
Technological factors assess creativity and effective performances of Primark to deliver right
products and services within the UK market. It can support to the business to target mass market
audience. Cultural environment segment includes changes in demographic segmentation which
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can shape to behaviour of the cited organisation. Focusing on manufacturing and selling of
different size products and services assist to meet with current demand and operations of
business (Folke and Kåberger, 2013).
TASK 4
4.1 Significance of international trade to the UK enterprises
International business take place when two or more business operating functions and
operations in various countries. It assists to enhance relations and different nation promote
products and services across the national boundaries (Williams and Schaefer, 2013). There are
various people in Primark who operate functions to gain high profits and revenue within the
marketplace. It gives following significance to the enterprise:
Different varieties of products and services
International trade assist to enhance products and services in different areas of the world.
It brings various types of products from different nations. It provides opportunities to every
customer to select best one according to their choice. It determines significant role to Primark for
expand their operations in different areas of the world. It also gives same utility to each customer
(Lamm, Tosti-Kharas and King, 2015). After Brexit issue, Primark has opportunities to establish
new products through targeting different customer at workplace.
Promote efficiency in products and services
In this way, international trade assist to make effective location to produce products and
services within the different areas of world. In this aspect, competitive advantages can be occur
at workplace by the firm to promote activities and goals of the business. Primark can promote
their products and services in different part of world through they can achieve positivity within
the environment (Zhang and Wang, 2015).
Enhance goodwill and peace
International business can also foster to development of goodwill and peace in different
nations. It will assist to maintain mutual understanding in different nation which can be lead
through making cross culture programs. Primark need to eliminate conflicts from the workplace
which assist to get high revenue and advance technology at workplace (van Buuren, van Nieuw
Amerongen and Wright, 2014).
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4.2 Impact of global factors
There are different types of global factors which determines in international marketplace.
It creates major impact on the business operations of Primark that determine to assess factors
within the country. Tax rate, inflation rate and many other factors create major impact on the
company (Alonso‐Almeida, Fernández de Navarrete and Rodriguez‐Pomeda, 2015). Following
are different global factors which create impact on international business:
Social factors
When UK enterprise are working at global market, there are various elements which
create impact on the performances. In this way, every enterprise need to demonstrate social
environment of market to determines strategies. Social factors are included changes in customer
taste, demand, perception and many other aspects. This is occurs because, Primark is not well
known about customer requirement in international market. It creates adverse impact on their
performances and they have to change their activities to promote products and services
(Kozubíková, Belás and Bartos, 2015).
Legal factors
Government determines such rules and regulations which consist to regulate business
operations. Every country has government who make policies towards the company to formulate
operations in effective manner (Näyhä and Pesonen, 2014). When Primark operating their
functions in international market, it creates major issue to develop ideas and outcomes.
Economic factors
Economic factors influence to demand level of the business. This factor assesses
economic growth of the nation to develops ideas and outcomes at workplace. Due to high
economic growth, Primark need to make changes very quickly. As results, it will affect to their
business performances in effective manner. In addition to this, low rates also affects to the nation
as downwards of economic growth (Bernstein, 2015).
4.3 Impact of European union policies on UK enterprise
European union frame different types of policies which determines to monitoring
business performances to achieve goals and objectives of the country. In this aspect, desired
outcomes can be ascertain at workplace to make decisions (Kale, 2014). EU demonstrate
different types of policies such as employment, regional and inflation, etc. It will lead to
demonstrate direct impact on business activities on Primark. When the organisation deals with
11

different nation, these policies are frames to deal with operations. These policies assist to
promote products and services of the nation in different areas of the world. The cited firm face
many issues at the time of delivering products and services in international market. Thus, EU
policies influence to spending and taxation level promotion in effective manner (Oriesek and
Schwarz, 2016).
Taxation level can support to the business activity in effective manner. Thus, it is
important to deliver products and services through following EU policies. In addition to this,
spending level of the enterprise can also promote to exchange of products and services in
different part of the world (Bowersox, 2013). Beside this, Primark require licence to promote
their products and services in different part of the world. Thus, national authority monitoring is
requires develop ideas and operations to deals with different actions and outcomes of the
marketplace. National legislation can also promote to each activity of local market that create
impact on structure and outcomes. The company requires promote their products and services
through enhance training and development programs. In this way, employment opportunities
encourages to Primark to make competitive advantages in international business enterprise
(Adeleye, Ibeh and White, 2015).
Within UK market government demonstrate their important role through business need
and performances can be measure to determines rules and regulations. In this aspect, they are
encourages to Primark to dealing with different outcomes which assist to set policies and rules
for developing ideas and operations (Schaper, 2016). Employment policy encourages to the cited
firm to make competitive advantages in international market.
CONCLUSION
From the above report, it has been analysed that business-environment is very essential
for development of the business and its operations. In this aspect, report is based on Primark
functions ad operations that determines to achieve goals and objectives to promote activities of
the organisation. Furthermore, it also summarized about different stakeholders objectives which
need to be perform at workplace. In this aspect, the cited firm need to meet it very carefully.
Moreover, it concluded about responsibilities of the company towards stakeholder of Primark. I
this way, the firm need to protect their member through satisfy their demand and requirement. In
addition to this, it articulated about fiscal and monetary policy which create impact on housing
and agricultural businesses. With the help of monetary policy, people can enhance living
12

standard through perform different activities and outcomes. Apart from this, different business
possess pricing and output decisions to promote their products and services. At last, it assesses
about significance of international trade on the business operations of the chosen enterprise.
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