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ASOS is one of the leading online retailers in entire UK and has created its very well presence in UK’s market. The type of the company is private as the profit motive is the basis of their business operations. The cited organizations have main function to deal with the demand of customers and fulfilling them by providing the products to them over their website. The spectrum of business functions is very wide as they need to manage business relationships with the suppliers, vendors, manufacturers and customers.
Every giant business in today’s era was one a small business. Thus it won’t be wrong to say that small business enterprises are the future of economy and country. They provide strength to the industry and they have potential to show new business and management dimensions. Here in this study the small business enterprises have been studied form various perspectives.
There are various factors which are needed to be determined with the perspective of understanding the effectiveness business of any retail outlets or online stores. Customer service is also one of them that has huge impact at the mindset of customers and enable an online retail store to make healthy and long term relationship with customers. Customer’s service is very important term that took place at both the ends of purchasing process. There is huge requirement of ensuring that the customers should get proper services before buying any item from the retail outlets and after sales service should also required to be improved at very large scale.
Marketing environment could be treated as periphery in which an organization operates its business and the business situations which could be suitable or adverse for the organization. The elements of the marketing environment are external, internal and industrial environment (Mead and Andrews, 2009). Here in this report the special consideration has been paid to understand the impact of various environmental factors on the business operations. For the same purpose PEST and SWOT analysis has been done so that the information about external as well as internal environment could be gained.
The national environment consists of variety of factors and political or the legal environment is one of them. The political environment and the legal environment affect the business operations at very large scale (Sawyer, 2004). Here in this report the role of government and its policy making decisions have been shown with respect to the banking sector. The role of economic system and fiscal as well as monetary policies along with competition policy and other mechanisms have been depicted. For the same purpose the Metro bank has been taken into special consideration.
Business environment is itself a very dynamic term which consist of various terminologies and management practices as well as various participants. The business environment is full of uncertainties but still some aspects of business and its fundamental principles can allow businesses to sustain within the competitive business environment (Burdekin and et.al., 2011). Here in current scenario the study of business environment from various perspectives has taken place.
The business environment is periphery in which any company operates its business. The dimensions of business could be changed to for different kind of organizations. Some operate at international level, some at the just district level, so there is a huge change in the business environment of both the types of organization. The business environment includes a variety of factors which affect their business at very large scale (Chen and Mohamed, 2008).
Operations management is one of the important branch of management that deals with designing and controlling production and manufacturing process and redesigning of business operations for the final production of goods and services. It concerns with acquisition, development and utilization of raw material that a firm needs to produce goods and services required to deliver to its clients.
With the increasing focus on social and environmental issues, the concept of CSR i.e. Corporate Social Responsibility has gained more recognition. This becomes more important when a firm is dealing with products that have an effect on consumer's health. Since the issues are directly relevant to McDonalds, it becomes essential for brands to focus on corporate social responsibility. It can be considered as corporate necessity, which every company needs to perform in order to sustain in the market.
In the present business environment, companies are becoming more open and transparent in communication as well as business operations. Open communication has become key to attain long term organizational growth and success. Apart from gaining trust and confidence of employees, it also helps the organization to attain the loyalty of clients and shareholders.
The factors that need to be kept in mind while selecting the distribution channel and channel partners
The channel strategy drives the marketing mix and marketing strategy of a business. It comprises of various members' partners and members for the ultimate success of the marketing plan and mix. The channel partners and various distribution channels are majorly involved in the task of distribution of business products and services. The hierarchy goes on like manufacturers, developers or producers, wholesale dealers, retailers and agents or brokers.