• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

External Influences of Richer Sounds and Corus

Extracts from this document...

Introduction

Assignment 1d: External Influences External Influences Businesses have to respond to external influences despite the fact they have no control. The following are the external influences: competition, economic conditions and environmental constraints. Corus and Richer Sounds must react to any alterations made by the external influences in order to be successful. Competition: As Richer Sounds and Corus try to win over and maintain customers, they face stiff competition. The opposition company may offer similar merchandise or services to the same customers. Three of Richer Sounds' competition: 1 Argos 2 Dixons 3 Comet Richer Sounds' main activities are selling hi-fi separates; home cinema equipment, plasma and LCD screen TVs, DVD and MP3 players, amplifiers, speakers, DJ gear and other related accessories. Richer Sounds sell their goods by mail, Internet and direct from their stores. Three of Corus' competition: 1 Mittal Steel Company 2 Arcelor 3 ThyssenKrupp Corus' main activities are to manufacture and providing steel. Corus supply both steel and aluminium based materials to several automotive transport sectors. They also own steel plants all over England. Corus manufacture steel from raw materials; they make steel from iron ore, lime and coke. Corus are now creating wind farms enabling the production of renewable energy. ...read more.

Middle

3 Businesses might have to reduce production in order to match sales. 4 Businesses may not build new factories or open new shops. Positive and Negative changes that affect Richer Sounds Richer Sounds can benefit from the positive changes noted above in various ways. In Richer Sounds they prefer interest rates to be as low as possible, mainly due to cheaper bank charges, the customers have more money to spend and are also prepared to spend more to buy better quality goods, they may use their credit card to do this, if the interest charged would be less. More and more of their products that be bought by credit, would increase their sales. Richer Sounds are going to increase more employment because more of their production is being stimulated. However Richer Sounds will have to sell more goods to cover their own increased charges for their overdraft, whereas this is an advantage of always selling good value products. Corus' products are now being bought on credit more, this is likely to increase their sales. Corus who are opening more and more factories all over England to invest in resources are planning to increase production, whereas there are recruiting more staff in order to do this. ...read more.

Conclusion

Finally, it exposes Corus' customers to pressures leading to a reduction in demand for steel and aluminum in the UK. Environmental Constraints The government is concerned about businesses that pollute the environment. Pollution is damage done to the environment by the activities of business. As a results Richer Sounds and Corus have a environmentally policies. Richer Sounds' main business activity does not cause air pollution or water pollution. Neither are Richer Sounds affected by regulations on packaging as, although the goods Richer Sounds handle have packaging, this is sold with the product to their customers. Richer Sounds prevent their hi-fi systems which be demonstrated from being loud, as they have strict procedures about volume level in their stores. They also do not play their hi-fi systems after 9pm. They make sure all their demonstrations are sound proofed. Richer give the midi-systems they receive to a charity instead of scrapping them. Richer Sounds try to keep waste to a minimum. Richer Sounds make sure that computers and photocopiers are turned off at the end of days and other equipment. At Richer Sounds' warehouse, they use electric forklift trucks to stop pollution. They recycle materials that are broken such as broken wood, cardboard boxes. Lacks depth edit and redo Add information about Corus Introduction and conclusion for every coursework Top of Form ?? ?? ?? ?? 1 External Influences Asif Hussain ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. The Quest for Optimal Asset Allocation Strategies in Integrating Europe.

    This might be a sign of decreasing diversification benefits within country indices relative to sector indices. To illustrate that the change in average correlation trends as described above is not heavily influenced by the figures of a few countries only, a graphical analysis is conducted following Adjaoute and Danthine (2001)

  2. external influences

    The rest comes from construction and demolition, sewage sludge, farm waste and spoils from mines and dredging of rivers. Richer Sounds main business activity does not cause air pollution or water pollution because they don't produce any products. Neither are they affected by regulations on packaging.

  1. Corporate strategy of Arcelor: how to penetrate the Chinese market?Second world largest steel maker, ...

    The Group operates in four key market sectors: Flat Carbon Steels, Long Carbon Steels, Stainless Steels and Distribution-Transformation-Trading. It employs more than 90,000 people and its activities are spread over 60 countries. To maintain its leadership, Arcelor focused its growth around three major axes: Cost leadership, Customer Loyalty and Entrepreneurship.

  2. An Empirical Investigation into the Causes and Effects of Liquidity in Emerging

    Another interesting relationship they highlight is that unexpected decreases (increases) in the Federal Fund interest rate have an ameliorative (adverse) effect on liquidity as well as volatility. 3. Theoretical framework and variable selection The theoretical underpinning for this paper is that emerging markets and mature financial markets are more integrated

  1. The Famous Grouse - company profile and exports

    In some countries there are lower restrictions on advertising of alcohol. This could be key when trying to create awareness of the famous grouse being sold in their country. New Zealand Political Prime Minister- Helen Clark Capital: Wellington Population: 3,993,817 (July 2004 est.)

  2. External influences

    �1.00=$1.83 (US), and �1.00=72.07 THB. By having a strong currency over the overseas currency, businesses in the UK is able to save in buying things abroad and bring them back to the UK and sell them at substantial price to make a profit.

  1. Richer Sounds and Chrissie D's

    To solve the problem, they have to sell more goods. Some more external problems that affect Richer Sounds - Changing prices - if the supplier's prices increase, Richer Sounds will need to increase their prices too. - Changes in exchange rate - Richer Sound buy large amount of stocks from

  2. Case Study: The Home Depot

    The ones with the most (possible) influence on the way Home Depot is conducting business. For further comments (column 5), please see also the first part of the chapter. Al the items are discussed there. Why did we take these specific items to discuss in our external analysis? Economic forces.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work