Research done on the textile industry referencing grade 12 business NSC IEB textbook. Furthermore evaluation of the performance of Mr.Price. Overall a near-perfect example of a well-written business research project.
The South African business sphere is faced with an amalgamation of uncontrollable
events and a powerlessness external environment. With ever-increasing tensions in the
political, economic, social, technological, legal, and environmental factors the textile
industry has to navigate through changing environments. The task will provide a broad
overview with knowledge and research on the topic of the external challenges in the
textile industry. One of South Africa’s leading textile industry companies is no different
from having to face external challenges particularly social and economic factors. This
presentation will unravel and reveal the external challenges through the specific
research question Mr. Price faces through the lens of a comprehensive specific
PESTLE factor analysis and extensive research. The goal is to reveal the challenges
faced by Mr. Price and provide valuable insights from a thorough evaluation. The
presentation also aims to analyze Mr. Price's performance management practices to
identify the performance gap and the impact it has on the success or failure of the
business.
In essence, one can say Mr. Price already has a strong foothold in the textile industry
and handles the external environment confidently as they are confident in their vision
and ambitions “To be the most valuable retailer in Africa”. However as these
investigations and research continue, it does beg the research question of how Mr.
Price navigates through the increasing inflation rates and shifting societal preferences,
while still maintaining high levels of performance and whether or not the vision of the
business will be met despite Macro environment challenges. Furthermore, the inflation
rates and shifting societal preferences play a huge role in shaping the textile industry
and could be the make-or-break moments for certain companies implementing the
right strategies. Both these factors will be shown concerning the textile industry as a
whole through comprehensive research.
Written report
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