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International Business Assignment 2
Unit 5
Introduction
Primark is a store that sells stylish clothing, accessories, and footwear. The Weston family
established the company in Dublin, Ireland, in 1969. Following its success as a Penney's, it
expanded into various countries. The countries they operate are United Kingdom, Ireland,
Portugal, Spain, Germany and more. The company currently operates 398 branches. Customers
are looking for the latest stylish goods at cheap prices.
Pestle in international business
Political:
One political reason that may have an impact on Primark is the fact that trading in China is
extremely complicated. This is because the Chinese government is exceedingly tight with
foreign trade. This is because the Chinese government is authoritarian, meaning there are no
freely elected national leaders and political dissent is reduced.
Economical
One economic factor that could have an impact on Primark is the fact that several sorts of
economies exist. Developed, growing, and developing economies are among the several types
of economies. This may have an impact on Primark because starting a business in a rich
economy would be considerably easier than starting one in a developing market because
individuals in developing countries have low disposable income.
Social
Primark's distinct trends in different countries could be a social issue that affects them. This is
because in some nations, some types of clothing are worn more frequently than others because
, people choose to wear them over anything else. Not only that, due to strict religious belief in
some countries it can also have an effect and people may be allowed to wear some type of
clothing.
Technological
One technological issue that may have an impact on Primark is the fact that they have a website
where anyone can buy garments and check to see if there are any current sales. This
demonstrates that Primark has evolved with the times and begun to use websites to make
clothing purchases simpler for clients. Also, Primark also offers free international shipping when
a customer has spent a certain amount of money.
Legal
While dealing globally, one legal factor that may influence Primark is that when trading in other
nations, Primark must abide by the rules of the country in which they are trading. This may
make things difficult for Primark because they may have something they wish to achieve but
are unable to do due to local laws.
Environment
An environmental factor that could affect Primark's worldwide commerce could be that the
laws of another country require them to wear environmentally friendly apparel to help save the
environment from further harm.
The influence of the internet
Because it takes a long time for a person from the United States to come over to the United
Kingdom to brief on how their company is doing in the United States, the influence has had a
significant impact on Primark's international trading. As a result, the internet is quite useful
since they can simply have a meeting online to brief a different company in a different country
on how they are doing. Additionally, they may readily adjust corporate operations by simply
making a fast video chat or sending an email.
Cash in advance
International business uses a payment concept known as cash in advance. It occurs when a
buyer pays the supplier cash before the goods have arrived at the buyer's location and, in
certain cases, before the purchase has been placed. This benefits Primark as an international
company since it helps them build loyal clients since if customers pay first and then receive
their things, they will feel more secure paying Primark because they will know they will always
receive their products'
Letters of credit
International Business Assignment 2
Unit 5
Introduction
Primark is a store that sells stylish clothing, accessories, and footwear. The Weston family
established the company in Dublin, Ireland, in 1969. Following its success as a Penney's, it
expanded into various countries. The countries they operate are United Kingdom, Ireland,
Portugal, Spain, Germany and more. The company currently operates 398 branches. Customers
are looking for the latest stylish goods at cheap prices.
Pestle in international business
Political:
One political reason that may have an impact on Primark is the fact that trading in China is
extremely complicated. This is because the Chinese government is exceedingly tight with
foreign trade. This is because the Chinese government is authoritarian, meaning there are no
freely elected national leaders and political dissent is reduced.
Economical
One economic factor that could have an impact on Primark is the fact that several sorts of
economies exist. Developed, growing, and developing economies are among the several types
of economies. This may have an impact on Primark because starting a business in a rich
economy would be considerably easier than starting one in a developing market because
individuals in developing countries have low disposable income.
Social
Primark's distinct trends in different countries could be a social issue that affects them. This is
because in some nations, some types of clothing are worn more frequently than others because
, people choose to wear them over anything else. Not only that, due to strict religious belief in
some countries it can also have an effect and people may be allowed to wear some type of
clothing.
Technological
One technological issue that may have an impact on Primark is the fact that they have a website
where anyone can buy garments and check to see if there are any current sales. This
demonstrates that Primark has evolved with the times and begun to use websites to make
clothing purchases simpler for clients. Also, Primark also offers free international shipping when
a customer has spent a certain amount of money.
Legal
While dealing globally, one legal factor that may influence Primark is that when trading in other
nations, Primark must abide by the rules of the country in which they are trading. This may
make things difficult for Primark because they may have something they wish to achieve but
are unable to do due to local laws.
Environment
An environmental factor that could affect Primark's worldwide commerce could be that the
laws of another country require them to wear environmentally friendly apparel to help save the
environment from further harm.
The influence of the internet
Because it takes a long time for a person from the United States to come over to the United
Kingdom to brief on how their company is doing in the United States, the influence has had a
significant impact on Primark's international trading. As a result, the internet is quite useful
since they can simply have a meeting online to brief a different company in a different country
on how they are doing. Additionally, they may readily adjust corporate operations by simply
making a fast video chat or sending an email.
Cash in advance
International business uses a payment concept known as cash in advance. It occurs when a
buyer pays the supplier cash before the goods have arrived at the buyer's location and, in
certain cases, before the purchase has been placed. This benefits Primark as an international
company since it helps them build loyal clients since if customers pay first and then receive
their things, they will feel more secure paying Primark because they will know they will always
receive their products'
Letters of credit
