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Unit 1 P4 Business

Satisfactory Essays

primarily concerns about the health of the economy where the business operates. Which can be measured by looking at the GDP which is the value of all final goods and services produced within the country in a specific period of time, unemployment rate calculated by taking the number of people that are unemployed. Consumers confident to spend money, as well as the interest rate rising and inflation (which is an increase in the prices of goods and services). The economic factors can affect the production as businesses should make a decision to reduce or increase the production due to the economic environment. capital spending and labour force should be considered in case of recession as a business may cut their investments and expansion plans, …show more content…

The founder's vision of a successful business powered by its people and its principles defines this unique company today. The profits and benefits created by their success are shared by all partners. (John Lewis Partnership , 2017)

The technology has its impact on all businesses nowadays. John Lewis has grown into a big online platform a consistent site navigation, well-designed website, a mobile phones application, simple checkout process and free delivery on orders over £50. They also have guest registration, alternative payments and click and collect. these features have developed their online store becomes more customers friendly which attract customers, as a result, increases sales. (Olivia Szymczak Bianca Angheluta Ayesha Munawar, n.d.)

The social factors that affect John Lewis are the UK demographics, fashion tastes and trends. John Lewis is known for its high in quality branded items. They are famous for their quality, service and value of products. John Lewis needs to increase their stock line with more branded items, and employ more people in their clothing departments to cope with the customers’ demand and to keep up with

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