Primark: An Overview Primark Stores Limited is an Irish clothing retailer.
Its stores are located in various regions like United Kingdom, Ireland, and Spain. Within this area of responsibility, Primark stores outnumbered other clothing retailer business, with one hundred sixty one stores overall distributed in three major regions: one hundred twenty-five in the United Kingdom, thirty-four in Ireland and eight in Spain. The company positions itself as marketing fashionable at cutthroat prices. The original clothing store was established by Arthur Ryan and his collaborator Micaela Mitchell in Dublin Ireland in 1969.After various success in clothing business, great profits and gross income led them to open stores in local and regional areas. It acquired various premises in different business centers within its local and regional areas which eventually generate more profits and income. Primark is known for selling clothes at the budget end of the market.
Its success is based on sourcing supply, making clothes with simple designs and fabrics and targets young, fashion-conscious individuals ages 35 below, offering them simple yet high quality clothes and apparels.Hence, these successes brought significant changes on Primark's retail business. The relevance of global trends and consumers' demands on lifestyle made Primark Store Limited reinvent its business scheme and management structure. Primark's management and business structure As a famous clothing retail store, recently, Primark embarks in different retail products not only restricted on manufacturing clothes but also other related products such as apparels and accessories available to all human sizes. Primark employs simple managerial operation on its stores structure.Each store has its own manager responsible in overseeing the status and business operations. With managers' inherent authority, they are given the power and control to manage the store within his/her point of responsibility.
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Moreover, in smaller or larger branches, assistant and deputy managers are assigned to control and manage the store. Within the store, there are different subdivided departments in which a manager is assigned like senior department managers and junior department managers who are in charge for individual departments.Moreover, under management, there are supervisors in charge of staff on a sales floor, on different departments like stock room staff, customer service staff, customer service desk, cashiers who work on the tills, cash office staff and staff responsible to look after fitting rooms. This management and business structure posits a simple way of managing human labor force, however, simple it may seem, yet inevitably creates serious problems and issues if and when proper assessment of the structure will be undervalued.Analysis on the internal and external environment of Primark retail industry The Primark clothing retail industry is a member of Ethical Trading Initiative, a collaborative forum bringing together businesses to work on labor rights issues in their supply chains. In fact, Primark developed ethical strategy in order to promote labor rights issues within its organization. Certain guidelines and code of conduct must be defined in relation to the ethical implications of work to human labor rights.
Primark, initiated and defined its ethical trade strategy in 2006, focusing on assessment of employees working conditions, factories operations' concerns and addressed necessary improvement. Primark's annual report of activity should be passed to the Ethical Trading Initiative Board. Moreover, Primark stands to a principle that shared learning and collaboration is one of the most successful ways to achieve sustained positive progression with its supplier's factories. However, climate change within and outside Primark's environment changes as it faces the challenges posed by the global business market.Using PESTLE and SWOT analysis, let us examine the ins and outs environment of Primark's retail clothing industry. The PESTLE analysis allows us to examine the external factors affecting the environment of an organization while SWOT analysis aids us to assess organization's internal strengths and weaknesses and further identify threats and opportunities external to its environment. Hence, these methods are helpful for us to understand and underline positive and negative factors affecting the external and internal environment of an organization like Primark.
In assessing the political, social, and economic factors external to the environment of Primark, we must consider different issues. Primark's business operations are subject to government policies and regulations. The business firm should conform to the set of policies and regulations stipulated and enforced by the government and policy making body while conforming to the set of regulations and policies, the firm should assume social responsibility as demanded by the global consciousness.Nowadays, business sectors no longer busied themselves to produce bonds of profits and income but deeply involved in social programs to promote social awareness and equality. Cultural and social behaviors of different consumers are important to consider when establishing or venturing business in the global landscape. Furthermore, economic, environment, laws, and technology are inseparable entities in which influence the business operations. The economic stability of certain region can contribute allot to the business condition of certain firm, like Primark.
Technology on the other hand, brought a tremendous effect to the status and development of business operations and marketing programs. It generates new trends in a rapid movement, which if organizations are unaware will impede growth and development. Hence, Primark's must constantly assess its strategy with consideration to its PESTLE as external factors that in one way or the other affects its internal and business operations. Assessing the strengths, weaknesses, opportunities, and threats of Primark, we go back to its established management or business structure.The need for re-tracking the management or business structure is important in analyzing its SWOT. As to my knowledge upon my encounter with Primark's business operations, its strengths are gained in its simple, systematic and organized business structure, having assigned proper authorities to proper positions. Moreover, its recognition for valuing high quality of products and quality services with its customers garnered more strength to attract more people.
On the other hand, Primark's weaknesses can be found in its way of managing people.Although, Primark is a member of Ethical Trade Initiative, study shows given different negative issues concerning its business operations and transactions like child labor, purports less value on ethical matters. Different issues were attacking Primark concerning exploitation and abuse on labor force, other environmental concerns, poor working conditions, and disvaluing workers' rights. Primark in different surveys was labeled as a fashion industry with oppressive regime. The primacy of autocratic and rigidity on standard structures can be a weakness as well as threats to the life of the company.Since, it goes globally, opportunities are in wide array not only on the part of venturing into regions with much income and profit to gain but also an opportunity to share and provide quality products to fashion-conscious people with vogue to fashion lifestyle. Conclusion Given this analysis we come to realize that each organization has its own external and internal problems to handle.
The process in which we enable to identify and analyze such problems is by using proper management method of analysis like SWOT and PESTLE. The importance of these methods is squared to the importance of the business itself.
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Primark Stores Limited Review. (2018, Oct 18). Retrieved from https://phdessay.com/primark-stores-limited-review/
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