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

External influences

Extracts from this document...


Introduction In this coursework I am going to be writing about the main external influences which affect both Tesco and Chelmsford College. There are three main external influences which would affect business these are: * Business Competitors * Economic Conditions * Environmental Constraints An external influence is when something happens outside the business which would affect how the business may run. For example if the government have to pay for the country to go into debt the Colleges funds are going to be cut. Business Competitors The factors that businesses may compete with each other in include: * Prices- For example if Tesco are selling the same product as Asda they might check what price they are selling it for. This is why Tesco have a price check on their website comparing with competitor businesses. There is an example of Tesco price check on the website underneath. * Product Quality (range)- For example if Chelmsford College are looking to improve there range of courses they may look at competitors first to see what they offer * Availability- For example if a shop is open 24hrs or you can go online * Location- For example if one shop is easier ...read more.


If they fail to compete with the other stores they will lose their customer which then they would lose their status as one of the worlds biggest stores. This could result in the value of their shares going down. Economic Conditions This can affect Tesco because if the economy is doing well it means that customers are spending more meaning that Tesco are selling more products meaning that they are making a bigger profit. This means that Tesco is able to expand and as a result of expanding it means that there would be more jobs available to the public. The disadvantage for Tesco is if the economy is doing badly which would mean that the public would not be able to pay back money. Tesco would then have to cut prices to try and get the customers to spend as much money as they can. Even though they would have to cut prices Tesco has kept track that sales and customer numbers has increased even through the challenging market. There are two aspects that would affect Tesco these include the interest rates in percentage. ...read more.


of next year, and will be approached through central Europe and trough Asia * Tesco is about a strong UK core business. Last year the industry saw some very marginal growth as a whole, however Tesco continued to grow beyond the market by offering better value for money and through getting cheaper. Weaknesses: * To dominate the city centre marketplace. Although it has some prominent city centres stores, e.g. the Carlisle store in the North of England, it has failed to make them universal. For instance, Milton Keynes has no city-centre Tesco store. Opportunities: * Tesco want to be as strong in non-foods as they are in foods. The market for non foods including clothes, entertainment and cleaning products is worth seventy five billion pounds in the UK today. Also you can see through the growth of their online business which now has four hundred and fifty thousand users which makes it the largest grocery online retailer in the world. They have over 1.5 million customers with personal finance showing that they are making some opportunities for them to proceed into a bigger organisation. Threats: * The increase of raw materials from non-food and food will impact the profit overall. ...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 Business, Companies and Organisation, Activity 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 Business, Companies and Organisation, Activity essays

  1. Business Studies Edexcel Coursework

    For example, if Errol stood at a street stand between 9am - 5pm on a weekday to question people aged 20 - 30 years, he wouldn't get much response at all. He would have to try on a Saturday at a place such as a shopping centre, where people matching

  2. Business Studies

    sets out the minimum working conditions and wages; - Hours of employment - Type of work - Pay - Holidays Agreements: > Under work choices - Employee collective agreement: employees negotiate collectively with their employer - Union collective agreement: negotiated between unions and the employer - Australian workplace agreements: negotiated

  1. "Moving Mountains at Marks and Spencer"

    Price Fluctuation Marks and Spencer periodically had short term promotions between each seasons intentionally to liven up the sales; however, these promotions also resulting the price fluctuations that influence the pattern of customers' buying, which is forward buying. "The result is that customers buy in quantities that do not

  2. Ann Hopkins Case Analysis

    ISSUES The ethical issues are: 1. Did PW behave ethically in their evaluation of Ann Hopkins? 2. Is it ethical to use gender stereotyping in corporate decision making? II. EVIDENCE While Ann Hopkins' abilities and contributions were overlooked, the PW committee clearly fixated on her negative aspects more than her positive contributions to PW.

  1. Importance of Human Resources Management

    So the level of wages is also very important. Competition for Employees: The organisation should keep an eye on the expansion and contraction of their competitors. When competitors expand, the demand for labour rises, which leads to contraction in supply of labour, rising wage rates and lastly it increases difficulty in recruiting the right sort of employees.

  2. English for business

    Please reconsider them and get back to us. � A productivity bonus for the workers? I totally disagree with that type of incentive. 4. Advising and suggesting � Shall we get started? � Why don't we move to the next point?

  1. Business Plan. After putting a lot of thought into what kind of business we ...

    We want them to write feedback, suggestions and complaints to tell us their views and feelings about their experience with us, this enables us to see where we are going wrong and what we need to change to ensure that it doesn't happen again.

  2. Ownership, Location and Aims and Objectives of Lex Transfleet and Express Diner

    In a PLC it is easier to get finance because there investors can invest there money but with LTD they have to take out a loan from the bank which they have to pay back with interest. The main disadvantage of changing is that the fact that it will be

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