Business Environment Assignment with Primark and CMA (GC01220)

Table of Contents

Introduction.

P1 Describe the type of business purpose and ownership of two contrasting businesses. Primark (profit) contrasted with the Chinese Medical Association (non-profit).

P2 Describe the different stakeholders who influence the purpose of two contrasting organizations

P3 Describe how 2 businesses are organized.

P4 Explain how their style of organization helps them fulfill their purposes.

P5 Describe the influence of 2 contrasting economic environments on business activities within a selected organization.

Conclusion.

Reference.

Introduction

Primark offers a diverse range of products, including newborn and children’s clothing, women’s wear, men’s wear, homeware, accessories, footwear, beauty products, and confectionery. The company sells clothes at the low-cost end of the market below-average prices. Along with retailers such as Zara and H&M, Primark contributes to the contemporary fast fashion trend. According to an article about Primark in the Economist, “For many shoppers, Primark has an irresistible offer: amazing trendy clothes at amazingly low prices. The result is a new and even faster kind of fast fashion, which forces consumers to buy heaps of items sometimes even the same ones to use when the first ones worn out, discard them after a few wears and then come back for another batch of new outfits (Primark, 2018).

The Chinese Medical Association (CMA) is a nonprofit national academic organization in China. It is an important social force in the development of medical science and technology and linkage between the government and the medical professionals. Established in 1915, the CMA now has 88 specialty societies and 677,000 members in china. Major functions of the CMA include: developing domestic and international medical academic exchange activities; discovering, recommending and cultivating medical talents; editing and publishing 180 medical and popular science journals including print and electronic, books and over 2000 audio-visual products; carrying out continuing medical education projects and training specialists; implementing medical project evolution and review and as well as science and technology decision-making demonstration; selecting and presenting awards for outstanding achievements in medical science and technology; promoting transformation and practical application of medical research results; disseminating medical and health knowledge for the general public; organization technical appraisement on medical malpractice and adverse events following immunization (AEFI); undertaking the functions and missions entrusted by the government, and relaying suggestions and requests from the medical professionals to the government (Chinese Medical Association, 2018).

P1 Describe the type of business purpose and ownership of two contrasting businesses. Primark (profit) contrasted with the Chinese Medical Association (non-profit).

In this case, a profitable organization called Primark is compared with a non-profitable organization called the Chinese Medical Association. This section explains the kind of business ownership as well as the purpose of two contrasting businesses. The key differences between Primark and the Chinese Medical Association are described as the table below:

Perspectives	Primark	Chinese Medical Association
Aims and purposes	The aim of Primark is to be a leading retailer in both the domestic and global markets. The purpose of Primark is to maximize shareholder values by generating as much profit as possible	The aim of the Chinese Medical Association is to ensure quality health for everyone in China The purpose of the Chinese Medical Association is to provide incredible hospice and neurological care to people and their families and influence the people to access the care they need. developing domestic and international medical academic exchange activities; discovering, recommending and cultivating medical talents
Objectives	The objectives Primark are: a) to increase local market share; b) to maximize business in both domestic and global markets, and c) to achieve high revenue and profits.	The objectives Chinese Medical Association are: a) to give outstanding service to people in need of health care; and b) to increase patient services
Industrial sector	It is operating in all the three industrial sectors of the business including primary, secondary and tertiary sector	It is operating only in the tertiary sector. Chinese Medical Association is a non-profit oriented company. It provides care to people in need of health care.
Range	Primark is doing business in both the UK and global markets.	Chinese Medical Association is doing business only in China.
Business sector	It has been operating in the retail sector, where the main products are home items, clothing, and food items. Primark proposes their share to the public and this share is enlisted in the share market.	It has been operating in the health section, where it offers health care for the people of China
Ownership	Public limited company. It is a profitable organization.	Charitable organizations. It is a non-profitable company.
Citation: Palmer (2018)	Source: Primark (2018)	Source: Chinese Medical Association (2018)

P2 Describe the different stakeholders who influence the purpose of two contrasting organizations

A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, and customers. However, the modern theory of the idea goes beyond this original notion to include additional stakeholders such as a community, government, or trade association. Stakeholder mapping is the visual representation of a stakeholder analysis, organizing those people according to the key criteria with which you will be managing them during the project. Stakeholder Management is an important discipline that successful people use to win support from others. It helps them ensure that their projects succeed where others fail……………..