ipl-logo

Grace Kennedy Foods: External Environment

1733 Words7 Pages

Every strategy decision within any business entity must be in consideration of the prevailing external environment (Pederson, 2013). Depending on the nature of the business enterprise, the influence of the external environment on business activities varies immensely. In this case analysis of Grace Kennedy Group has been outlined. In addition, this paper will assess the importance of the external factors that affect the commercial operations of Grace Kennedy Foods.
External factors are outside influences that can impact a business whereby the company really doesn’t have much control of how the external environment elements will perform (EduNote.info, 2012). There are several external factors that can impact an organization to achieve its …show more content…

This includes market fluctuations as it relates to politics, terrorism attacks, and currency devaluation (Small Business - Chron.com, 2016). For instance in the local economy inflation affects the purchasing power of the people, whereby prices increases while reducing the buying power of income scales. This will ultimately results in consumer investing less which may impact the banks availability to lend money for personal and business loans (Small Business - Chron.com, 2016). The year 2012 was a challenging one for Grace Kennedy Financial Group whereby revenues increased and profit before tax declined compared to 2011 (Jamstockex.com, 2012). In addition, its subsidiaries encountered a decrease in business with higher taxes imposed on the financial institutions. Notwithstanding the challenges the money services and the insurance segments gained increase revenues at 7.7% and 9.1% respectively during 2011 (Jamstockex.com, …show more content…

Stakeholders are not all equal (www.boundless.com, 2016). Having identified stakeholders and their importance to the business, plans can then be made based on their needs and expectations. Stakeholders often have concerns that they expect to be fulfilled by the business. A typical example is where the owners of business expect it to be profitable and to distribute that profit to them while local and federal government agencies expect it to obey the law and pay its taxes on time (smallbusiness.chron.com,

Show More
Related

M1 External Factors

416 Words | 2 Pages

Internal factors happen inside an organisation the staff are likely to have direct control over it. External factors happen outside the organisation and are less likely to have a direct control over it. The businesses reputation or image may affect a business internally as a customer may have suffered poor customer service and this would have a negative influence on the business. Just as exceptional customer service would have a positive affect on the business, Other internal inlfuences on an organisation would be staff changes or issues. Staff within one grouping may not work well together so staff may have to be moved around or staff changes due to promotion etc.

Read More

Pantry Case Study Summary

3865 Words | 16 Pages

Running head: pantry inc. case analysis 1 pantry inc. case analysis 20 Pantry Inc. Case Analysis Sekia Grimes GEB5787 Table of Contents Introduction 3 Industry Analysis 4 General Environment 4 Sociocultural………………………………………………………………………………4 Political/Legal…………………………………………………………………………… .4 Economic…………………………………………………………………………………5 Porter’s Five Forces ……………………………………………………………………………... 5 Rivalry……………………………………………………………………………………5 Threat of New Entrants…………………………………………………………………..

Read More

Mccain Foods Environmental Analysis

1359 Words | 6 Pages

Within our global economy, the environment is constantly changing. Management must account for these uncertainties when planning the strategic direction for their company. Examining the external environment, surrounding an organization will assist leadership in identifying uncontrollable behaviors that may impact operations. External environmental analysis tools assist business in mitigating future threats and leveraging opportunities. This paper will use SLEPT analysis to throughly assess the external environment of McCain Foods, and discuss the strategies followed to overcome the obstacles.

Read More

Polaris Mission Statement

804 Words | 4 Pages

External Assessment In this study, two external assessments were completed. The first is an External Factor Evaluation (EFE) Matrix. This looks at external factors such as opportunities and threats that have the potential to improve or harm business.

Read More

Stu Henderson: The CEO Of Western National Insurance Company

930 Words | 4 Pages

The impact that stakeholders should have on an organization is critical, “it is necessary that they understand and accept the roles and responsibilities that they have, to establish clear plans and objectives and successfully attain all of these” (Popa & Salanţă, p. 17). The approach Henderson took to involve and use stakeholders influence for the betterment of the company not only created an environment of trust but it also created stakeholder buy in. Stakeholders where completely invested in the

Read More

External Influences: The Syrian Civil War

1304 Words | 6 Pages

An external influence is something that happens around you that affects how you act, what you feel, or who you become. There are many different types of external influences. For example, the actions or being of another person. What someone does can affect what you do, what happens to them can affect how you feel, and the result of their actions can affect who you become. Another type of influence would be the environment.

Read More

External Factors Of Chick-Fil-A

1130 Words | 5 Pages

Just like any other organization, chick-fil-A is greatly affected by the external environment of the business. Often, the external environment is made up of all outside factors and influences that affect the way an organization conducts its daily operation. It is worth noting that an organization has no influence over its external factors and thus, it has to re-engineer and redefine its process, products and services to work under the influence of the external environment. Below are some of the external factors that affect Chick-fil-A. Consumer income Consumer income is in the wider field of economic factors that affect the sales level of the enterprise. Consumers with high income are likely to possess the power and the ability to purchase products from the company in large quantities.

Read More

Stakeholders Interests To Have An Interest In A Business

1122 Words | 5 Pages

All this stakeholders have an interest in a business but these interests are very varied from one to another, and they all have main interest of; the CEO want to see the business grow, and to make a large profit and to be rewarded for the risks they have to take, such as if they make a decision to take a risk to try improve and makes the company grow and succeed they should be well rewarded for the risk they took. The CEO have a completely different view than the customers, who want to buy products or services, and to pay a fair price for these. They also want to receive good customer service for the products or services they buy. So in this we already have a clash, which the CEO would want to make a good profit on the products they sell, but the Customers want to get a fair price.

Read More

Porter's Five Forces Analysis Of Cadbury

2096 Words | 9 Pages

By the given operational timings, the sales that Cadbury will make will vary as consumers does not have a fixed schedule as when they are able to buy from Cadbury. Porters’ Five Forces This external analysis is a force that utilizes five different dynamics to determine the viability of an organization and how it manipulates the competitive strategy of the corporation. With the implementation of this analysis, Cadbury would be able to meticulously scrutinize what are the advantages and disadvantages that they are currently or might face and hence, able to prepare themselves to avoid landing themselves in the foreseen situation. Threat of new entrants/Potential Competitors

Read More

Free Market Summary: Four Causes Of Market Failure?

1602 Words | 7 Pages

An externality is an impact on an outsider that is brought about by the utilization or generation of a decent or administration. A positive externality is a positive overflow that outcomes from the utilization or creation of a decent or administration. For instance, albeit state funded instruction might just straightforwardly influence understudies and schools, an informed populace may give constructive outcomes on society all in all. A negative externality is a negative overflow impact on outsiders. For instance, used smoke might adversely affect the soundness of individuals, regardless of the possibility that they don 't specifically participate in

Read More

Kellogg's Internal And External Environments

751 Words | 4 Pages

ENVIORNMENT Kellogg is a company with great control over its internal and external environment. The following table shows the of Kellogg’s environment. Internal environment The internal environment in Kellogg’s consists of the information systems, organizational structure, the management styles, the various brands and how their life cycles are managed and the behavior of the individuals. Kellogg has a 22 person Senior Management Team, 46 next level key members.

Read More

Paradox In Higher Education

1326 Words | 6 Pages

It is important to note that not all stakeholders will or should be involved at every step of planning, implementation, and

Read More

Role Of Stakeholders In Aviation

963 Words | 4 Pages

3. Stakeholders: Definition:A person, group or organisation that has interest or concern in an organisation. Stakeholders can affect or be affected by the organisation 's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal.

Read More

Key Principles Of Project Management Essay

1140 Words | 5 Pages

Clearly identified stakeholders: The stakeholders of a project must be clearly identified and their stakes clearly pinpointed. A project stakeholder is anyone who has an interest in some or all stages of the project. For a project to be successful, one needs to identify who the stakeholders are and their roles in the design

Read More

Business Case Study: Porter's Competitive Rivalry: Julia Juice '

902 Words | 4 Pages

CASE STUDY 2 INTRODUCTION Julia Juice, one of the world’s largest juice retailers who owns 1200+ stores in whole UK and USA. As it grows by year 2005 the growth becomes three times. Porter’s 5 Forces Porter 's competitive analysis will help us to understand the competitiveness of JJ business environment, and identify their strategy 's potential profitability.

Read More

More about Grace Kennedy Foods: External Environment

Related Topics

Open Document