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Business Organisation & Policy
Finance & Accounting
Pages 7 (1757 words)
Business Organisation & Policy Contents Discussion 3 Political Structure and Trends 3 Economic Structures and Trends 4 Socio-Cultural Factors 5 Technological Factor 6 Environmental Factors 6 Legal Forces 7 Reference 9 Discussion This essay deals with in-depth analysis and discussion of the processes of business planning and policy making and the reason for change over time of a popular retail high street outlet of United Kingdom.
This sector is one of the major economic sectors in the country, with retail sales reaching upto 221 billion pounds and employing round 3 million people with total 3, 00,000 shops in UK alone. High street retail business like Topshop has been affected by a number of factors like price and cost pressure, concentration in the industry etc. Topshop specializes in women’s fashion products such as clothing and apparels. This retail sector is expanding both horizontally and vertically with retailers taking broader strategies to adapt to it (Burt and Sparks, 2003, p. 15). Polarisation increases in the sector with the growth of the bigger companies. Hence, innovation is the critical element which the retailers need to do for their development. With economies opening them to outer world, the competition is increasing and the retailers are developing strategy to survive. But while developing strategy they need to take into consideration the external factors which will impact them. Political Structure and Trends Topshop and other high street outlets i.e. its competitors are affected by the political structure in a number of ways. ...
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