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Business owners have less control of these external factors, and their impact in changing them is minimal. Instead, small companies must adapt to these macro environmental factors, which include consumer characteristics, technology, government influence and the economy.
The way small companies adapt to macro environmental factors determines both their ability to differentiate themselves from key competitors and overall success. Union workers in clothing manufacturing plants may picket their employers, especially if their wages or medical benefits are less favourable than workers in comparable industries.
Workers picketing their clothing employers impacts production. This can cause delays for retailers in getting spring or fall fashions on time. Activists who are not employed by the companies may also picket retailers who purchase clothing from countries known for violating child labour laws.
During economic boom periods, people have more disposable income.
Hence, they may buy more clothes, increasing sales for clothing manufacturers, wholesalers and retailers. However, recessions have the opposite effect. Sales for these various clothing entities may be significantly lower. Consequently, retailers may be stuck with large amounts of inventory.
And they may have to sell the clothing at substantially reduced prices. Clothing manufacturers and retailers may also need to sell lower-priced clothing brands to compete with more generic brands.
Consumers often shop for cheaper brands when they have less disposable income. These factors affect the clothing industry in different ways. For example, a small clothing manufacturer needs to create styles that appeal to those of different cultures, especially if those cultural groups represent large enough segments of its market.
Contrarily, clothing manufacturers, wholesalers and retailers avoid creating too many clothing items that fall outside the norms of society, such as styles worn years ago.
An aging population may increase the demand for larger jeans and pants sizes, such as relaxed or looser-fitting styles. Generally, many people become more sedentary when they get into their 40s and 50s. For example, the scarcity of certain materials, such as leather, may force retail and wholesale clothing companies to sell more faux or substitute leather products.
Retailers may increase the prices of cotton clothing if they encounter shortages of this raw material, as they must pay their manufacturers more.Pantaloon Retail is one of the leading retailers in India.
The company is the flagship company of Future Group. It operates retail stores such as Pantaloons, big bazaar, HomeTown, food bazaar, Central and Ezone and other formats include Brand factory, Ethnicity and planet timberdesignmag.com: € This is a SWOT analysis of Pantaloon.
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View the changed names of the listed stocks as reported to the Stock Exchange. If you know the old name and want to know the new name of the company write the name of the company and select old. Pantaloon Evolving Hr Issues in Pantaloon Retail India Ltd.
With Case Study. from President’s Desk “ CHANGE is the only CONSTANT thing in life. ” Management education, over the years, has experienced a sea change. View the changed names of the listed stocks as reported to the Stock Exchange.
If you know the old name and want to know the new name of the company write the name of the company and select old.