External Influences on Two Chosen Businesses
Ikea
External influences are factors outside of the business that affect the business, and it has no control over them.
Competition
Ikea have got many competitors nearby but this does not have a major affect on them as they are constantly competing on prices, quality, availability and their product range. They have got many different competitors selling the same types of products as them; their main competitors are B&Q, Homebase, Argos, DFS, and Toys R US. These businesses are in similar markets and have a similar kind of product range as Ikea.
With Argos Ikea mainly compete on furniture and DIY goods, which are quite similar to
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For Ikea getting money is no problem they don't have to borrow money from any banks for the reason that they have got their very own company bank, so if an Ikea store needs to borrow any money, they borrow it from their main bank. This is a very good thing as the money stays in the business and no interest is charged.
Exchange rates play a major part in the running of Ikea; this is because Ikea are an international company. They rely on the exchange rates in order to get money back into business. If the exchange rates were increase this would be very good for Ikea and they will be very well off. But if exchange rates were to decrease, it would lead to a downturn in Ikea's profits and affect their sales.
Environmental constraints
Environmental constraints are laws and regulations that businesses needs to follow in order to ensure that they're not harming the environment.
Ikea are a business that are very environmentally friendly and try their best to try and keep the environment free of any harm or destruction. Ikea aim to help protect the environment, they try to do this by using only wood or wooden fibres because wood is renewable, recyclable and
If you want to export goods to a particular country, make sure they have a need for your particular services or product. Most international businesses find multiple countries or locations that have a need for these items in order to ensure a steady and profitable revenue stream.
The aim and objective of Bristol Brunel Academy is to ensure that all of its students that are studying at Bristol Brunel Academy get the best possible grades in their GCSEs to ensure that they can take the next step to achieving their ultimate goal and their dream job. Another, aim of Bristol Brunel
The provision and use of personal protective equipment could include using gloves, glasses, earmuffs, aprons, safety footwear, dust masks.
* Diversification can be a good way that IKEA does to sustain growth after it loses some cache. Product innovation and market development such as IKEA’s expanding goal in U.S. market. It is a risky strategy but with careful selection of the right kind of businesses, considerable improvements in profitability can be experienced. To try and maintain growth, IKEA is considering diversification outside of the furniture market.
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Please note that this Assessment document has 8 pages and is made up of 7 Sections.
Without appropriate organisation on a variety of fronts, most business will limp, unable to set or achieve their strategic plans therefore organisational functions are the glue that holds all the pieces of your business together in the pursuit of their ultimate objective. However organisational functions have some interrelationships. Examples of organisational functions are, finance, marketing, Human resources, operations, Research and development purchasing, production, sales and advertising.
Make sure she knows how much money she would actually get the next month. I would also include getting a loan which she could pay off monthly but at a reasonable amount. Her finances in general are crazy because she allowed her credit card to be used so much that she couldn’t pay for something when it became an
I am going to talk about two organisations and how they operate. The organisations I am going to talk about are McDonalds and Chester Zoo.
1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why?
The following report will consist of some of the social, political and legal factors that could potentially affect Leeds City College and International Airlines Group as a business. I will also go over which factors are having the most significant impact on the business and how the businesses are trying to adapt and change in order to try and negate the impact of these factors and how they may capitalize on some.
“In Uniform Commercial Code (UCC) minor changes do not have any impact and the original contract does not get canceled. The quantity is the main focus of the term in UCC. Offers made by a firm are irrevocable if the deal is made in writing in UCC” (UCC vs Common Law, 2014). “Uniform Commercial Code is a statutory law for certain types of commercial transactions, including sales of goods, which has been adopted by all 50 states. Many of its rules are similar to Common Law, but it
ESSAY TOPIC (1) :A joint venture is affected by the cultural distance between two partners. In what ways are joint ventures and types of international collaboration affected by cultural differences?
Sri Lanka has immense economic opportunity for aspiring entrepreneurs. The route that I would personally take if I lived in this country would be the venture into the Information technology industry. Sri Lanka is a developing country and with that IT can be a promising venture for any entrepreneur. According to the CIA, only 32.1% of the population are internet users and this could convey a possible business opportunity to inspiring entrepreneurs. A business startup that targets this market could bring immense value. The allocation of resources to achieve this could be a troublesome matter, but it could be done with hard work. There is competition in this industry, but an entrepreneur could set themselves apart from
IKEA’s strategy towards its suppliers is that of a low production costs strategy. IKEA wants to sell its products at the lowest possible price therefore their