External influences on business. At ASDA we have to follow the following employment legislations and data protection legislations.
Extracts from this essay...
External influences on businesses UNIT 14.1 The business I have chosen to work on my unit 14 is ASDA. ASDA is a huge supermarket which is run around England, Scotland and Whales. They offer Britain's best value weekly shop with prices on average 10% lower than our main competitors and an mutable mix of fresh food, grocery clothing, home, leisure and entertainment goods. Approximately they have around 260 stores. They employ 150,000 colleagues who have a reputation for being the best and friendliest in the industry, and we work with over 2,800 suppliers. There stores are "stores of the community," playing a positive part in all aspects of local life. At ASDA we have to follow the following employment legislations and data protection legislations. Legal factors - relate to changes in laws and regulations. Businesses must be careful to keep within the law and to anticipate ways in which changes in laws will affect the way they must behave. Economic factors - relate to changes in the wider economy. A growing economy provides greater opportunities for businesses to make profits, so businesses welcome rising living standards. Technological factors - provide opportunities for businesses to adopt new breakthroughs, innovations, and inventions to cut costs and develop new products. Environmental factors - relate to the environment. Businesses must be careful to keep within the law. Consumer Protection There is increased competition. There are so many different sellers it is unreasonable to expect consumers to know enough about them all to judge if it is safe to buy from them. Changing social attitudes, as a society, we are less tolerant of individual misfortune which is someone else's fault. There is an issue of attitude to risk involved here. Increasingly, people are unwilling to accept the risks involves in their own actions. Consumers are willing to take businesses into court for damages which can be quite large.
Fear of excess borrowing by customers/rising interest rates: The recovery stage will be, when the customers have paid back their debts and then would steadily be increasing the money in their bank accounts. They will then have money to spend on luxury items which we sell at ASDA. BOOM Boom is when the economy is doing well. This means that income will increase considerably. Rates of inflation during the boom period will be low, meaning consumers will have to worry less about rates on bills, or petrol etc and are able carry out activities they want to as they have extra money available to them. Also, if a larger amount of money is available to each customer, this may lead to them spending more on purchasing our luxury goods. Unemployment levels during the time of boom will decrease as there will be more jobs available as the ASDA will be constantly be busier than before and will require more workers to deal with the demand. This means employment rates in the local area, and surrounding areas, will increase as jobs will go to people who live locally. Whilst within the economy is boom, ASDA will have plenty of workers who are trained and therefore know how the business works and how to deal with customers. This subsequently leads to fewer workers with skill shortages and more money for us as a business to invest, rather than use to train our staff. Also, during the boom period, our consumers are likely to be borrowing less money from the bank, so will therefore not be paying money on interest. This means they will have more money to spend on luxuries, meaning they are likely to visit ASDA more. Inflation: When ASDA would be considered 'at a boom' the inflation rates would have to decrease substantially from what they are now. With inflation rates being low customers would earn bigger amount of money which means they would afford to purchase ASDA luxury items like our clothes and electronic goods.
The restaurant has rolled out readers in all its Scottish branches; through a project with technology provide Ingenico. Using ADSL broadband connections to authorise transactions, we have been able to reduce the time to process card payments from thirty seconds to four. Evaluation Future of ASDA During this report analysis it has been clearly noted that we have a number of aspects of our business which need to be transformed. In the future at ASDA we intend to: Consumer Legislation: * We will continue to improve our packaging to meet the general product safety regulations 2005, and updated versions. * We will persist to treat disabled employees and customers with full respect as any other employee would receive and they will not discriminate from training because of their disability. * We will carry on keeping good relations with our employees and trade union to avoid any further problems and to keep all their data safe to comply with the relations act 2004. * We will regularly re-evaluate our employees wage to comply with the employment legislations 2003 act by paying our employees more then the national minimum wage. * We will continue to coach our staff so that they can identify under age customers so they do not serve them alcohol cigarettes or any other under age goods. Economic Influence * We must observe the economy to make sure our business is reflecting the economy condition i.e. when the economy is in slump our prices may have to be increased to cover our extra costs e.g. petrol. Environmental Influence * We must carry on checking how we can improve our environment by checking out on how we can improve the traffic, cutting waste, litter, sound and noise and disposal. * We may carry on putting roundabouts to maintain traffic so there is less pollution and sound and noise. * We will put out more bins so that we can recycle them separately which will help us to keep litter in a limited amount. http://www.tomorrowproject.net/pub/1__GLIMPSES/Politics_and_government/-211.html ?? ?? ?? ?? Maddy Business Studies Unit 14
Found what you're looking for?
- Start learning 29% faster today
- Over 150,000 essays available
- Just £6.99 a month
- Over 180,000 student essays
- Every subject and level covered
- Thousands of essays marked by teachers