However, the management of Best Body shop can take advantage of UK’s political structure of parliamentary democracy to invest in less stable countries like the Middle East and Russia. The system relatively provides cushion against possible political risks.
Best Body shop predominantly use premium based differentiated approach to marketing instead of assuming the market leader position. Therefore, Saleem (2006) points out that such enterprise are vulnerable to the economic variations in the UK. Besides, the aftermath of global economic crisis of 2007 presented major challenges to the UK market and especially, businesses like Best Body Shop that entirely depends revenue generated from UK economy. However, opportunities for success still exist through a structured stakeholder collaboration.
Wetherly & Otter (2014) explain that the complex interplay of social and cultural factors of the UK market either declines or improves cosmetic and beauty industries. Hence, Best Body Shop should aim to identify a set of practices that appeal to all the cultures. Representation of an essentially inclusive social and cultural economy is a success strategy.
Essential improvements like internet services offer the business unique opportunities like online transactions, issuance of invoices and assessment of customer feedbacks. Thus, Best Body Shop and similar industries have received an exponential sales and rapid online shopping for the beauty products in store. Hence, technological advancements open avenues for business expansion. Nonetheless, technology is a risk factor if mismanaged.
Best Body shop must comply with legal standards stipulated by European Union and UK laws. Specifically, Kew & Stredwick (2008) highlights that the UK laws stipulate that the shop must conform to requirements for minimum wage payments, legislation for fair marketing, hiring, compensation, and equal treatment of all employees.
The national product ...Show more