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Primark is a subsidiary company of the ABF (Associated British Foods) Group. The company was launched in 1969 in Ireland trading as Penny's. By 2000, there were over 100 stores across Britain and Ireland. By 2012 Primark had 238 branches across the UK, Ireland and Europe. Primark has become distinctive for offering unbeatable value whilst never losing its innovative, fashion-driven edge.
Like many retail fashion businesses, Primark does not manufacture goods itself. Its expertise lies in understanding its customers and working with its suppliers to produce goods to Primark’s specification. It then gets the right goods to the right places at the right prices. Its profitability depends on sheer volume of sales. Primark's value-for-money prices rely on low costs. These are achieved in part through economies of scale and efficient distribution.
Primark’s products are mainly sourced from suppliers in Europe and Asia. Its key sourcing countries are China, India, Bangladesh and Turkey. Putting the manufacturing of garments into these countries creates jobs. These are often at better rates of pay than other types of work on offer, improving overall standards of living.
Identify what type of organisation is Primark and discuss its purpose. In addition identify and discuss the purpose of one organization the following categories;
Choose ONE organisation that is either a), b) or c) and discuss the purpose of the organisation using a REFERENCE for the type of business you have chosen.(170 words)
Choose at least 3 different stakeholders of Primark and state their objectives. (230 words)
You are required to assess the impact of fiscal and monetary policy on the following type of businesses
2.3 Competition is an essential element in the efficient working of markets. However businesses are of different sizes and that can create unfair competition. In the UK as in other European nations Competition policies are used to encourage and improve the competitive process, and to ensure consumers feel the benefits of that process.
You are required to identify at least five competition policy and other regulatory mechanisms in the UK and evaluate their impact on the activities of a selected organization(s).
With the aid of practical examples and using suitable organisation(s).
- Describe each market structure above with REFERENCES (500 words)
3.3 Judge how the business and cultural environments shape the behaviour of a selected organisation
On 23 June, the UK finally settled the question that's been rumbling close to the surface of British politics for a generation: should the country remain within the European Union or go it alone.
The EU is a single market in which no tariffs are imposed on imports and exports between member states. "More than 50 per cent of our exports go to EU countries," says Sky News. Membership of the bloc means we have always had a say over how trading rules are drawn up.
Britain also benefits from trade deals between the EU and other world powers. "The EU is currently negotiating with the US to create the world's biggest free trade area," says the BBC, "something that will be highly beneficial to British business." Strong arguments have been made by both the Remain camp and the Leave camp.
Amongst several arguments put forward by supporters of the Leave camp is that Britain’s links with the EU are holding back its focus on emerging markets – there is no major trade deal with China or India, for example leaving would allow the UK to diversify its international links. Whilst the Remain camp disagrees with this argument and argues that 44 per cent of Britain’s exports go to other EU countries. Putting up barriers with the countries that Britain trades with most would be counterproductive (The Telegraph, 2016).
Britain risks losing some of that negotiating power by leaving the EU, but it would be free to establish its own trade agreements. Your local MP is concerned and worried about how Brexit will impact on local businesses that trade locally and internationally.
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