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

    Mature market vulnerabilities had eased significantly with investors increasingly prepared to assume credit risk and interest rate risk in the search for yield. This led to high investor inflows into US corporate bonds, with signs of reduced investor discrimination between low and high rated issuers.

  2. Case Study: The Home Depot

    *Customer Service *Product Range *Low Prices *Human Resource Policy *Buying Power What core competencies does Home Depot possess to the planned smaller stores? We found some information on the internet about the planned smaller stores. It is not a lot of information, so a real analysis what Home Depot competencies

  1. Critically evaluate the perceived competitive starategies of the five clothing retail outlets, namely Edgars, ...

    on the continent than they were in the days when business here symbolized racist rule. Although big business in South Africa remains largely white, on a continent in desperate need of economic development after years of stagnation, it is the color of money that speaks more loudly.

  2. Identify the main external influences on your two chosen businesses including references to competitors, ...

    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.

  1. 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.

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

    already taking place, although it remains difficult to identify the exact character of the driving forces behind it. Most probably however, the convergence of a common monetary and economic policy in the EU has reduced the impact of country specific shocks and has puts a greater importance on EU wide shocks that affect all stock indexes across the mainland.

  1. Business - External Influences.

    (ex: US Postal Service) 3. Monopolistic Competition - Large number of smaller firms control market;Very few barriers to entry;Brand identity plays big role;Limited Price Making. (ex: CK, Hilfiger, Levi's) 4. Oligopoly - Market dominance by few firms;Brand Identity;Some Price Making or Collusion;Barriers on Entry.

  2. How Do Dixon's Dominate The Electrical Trade?

    The standard of living is the way in people live, so the state of environment they live in. If the standard of living is low in a country the growth for companies will be almost impossible because the main body of the population can only spend there money on food.

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