The changing business strategies to cope with the fast transforming socio-economical paradigms of the times have become crucial factors that enable the businesses to compete against their rivals. The external factors are often the major proponents that necessitate organizational changes.
The world economy is presently undergoing tremendous turmoil. In the recent past, the American economy has been under tremendous strain with its deteriorating job market and dismal performance of its various public private companies. Its offshore business has also suffered as a result of bad economic policies of the current republican government, headed by George Bush. The bankruptcy of few of its major financial institutions has resulted in the financial meltdown that has created a serious crisis situation in the American economy that has cascaded down to the rest of the world. The recessive trend in the American economy has forced the businesses to meet the challenges with creative business strategies and embrace the changing business compulsions with vigour and vitality.
In a news report in the ‘Guardian’ on 3 December 2008, it was reported that UK’s top retailer, Tesco was really struggling against ‘Morrisons’ to maintain its position. While Tesco had registered its worst sales in 14 years during the Christmas, Morrisons had surged ahead towards the position of top retailer! The article was succinct in describing the cause and effects of the current recessive trend in the retail industry and the various ways through which they were trying to meet the challenges and attract customers to increase their sales. In yet another news item in the same issue, Christ Hirst had highlighted the ‘Christmas supermarket advertisements’. Hirst has revealed that the advertisements play a significant role in the boosting the sales figure and Morrisons’ ‘The campaign is about freshness and provenance, ...
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(Business Environment Report Essay Example | Topics and Well Written Essays - 1500 Words)
“Business Environment Report Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/miscellaneous/359239-business-environment-report.
6 Favourable Economic Environment of Vietnam 6 It has been seen that the foreign investors are actually not interested in seeing the shortage in the number of skilled labours as an obstacle in their activities in Vietnam. It is true that all the Vietnamese workers do learn up things very fast.
United Kingdom has managed to become the 4th largest nation in terms of trading and is now the business hub of Europe. By 2030 United Kingdom is predicted to have the largest organic sector whose worth is estimated to be around ?1.2 billion. Also the agriculture in UK is fully mechanised which produces more than half of the food requirement for the UK.
For this reason, environmental analysis provides a unique opportunity to further knowledge based on the status of an organisation in present times and emerging trends. The process of continuous acquisition of information on events, trends, and the organisation’s external environment is descriptive of environmental scanning whose goal is to provide facts essential to the decision-making process.
These environment affect the performance of any business and hence the need for evaluation of the company performance to analyze the success of the business within the reference environments. An evaluation of the company’s performance requires a detailed analysis to represent the profitability and risk levels of the company (Clipici & Gadoiu 2009, p.
As the leading retail and Food Company in the UK, Tesco also has branches in France, China, India, USA, Republic of Ireland, Slovakia, Poland, and Hungary. As a food and associated products retailer, Tesco also deals in car and health insurance, game, clothing, books, videos, music, and electrical goods.
Therefore, these elements form system within the overall systems, and for maximum efficiency, each system within the overall organizational structure has to function at its best, for the organization to achieve its mission and objectives. Consequently, a business environment involves the integration of various internal and external elements that enable the daily functioning of the organization (McNamara 1999).
Export transactions in the country measured along the 2010 period resulted in revenue amounting to around $96.744 billion. The export commodities are constituted of manufactured products that amount to around 73 percent of the total exports. Again the
PESTEL is also applied to highlight the environment in which the business operates then a recommendation is given to area of improvement.
Hotel management and catering services are widely used globally to provide different and
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