Measuring Performance - Essay Example

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Measuring Performance Table of Contents Introduction 3 a) Explanation of the Nature of the Business 4 a) i. PESTLE Analysis 4 a) ii. Porter’s Five Forces 6 a) iii. SWOT Analysis 8 a) iv. Identification of the Six Main Factors 9 b) Benefits of Budgeting for Jengo Ltd 11 c) Balanced Scorecard Approach 13 Conclusion 17 References 18 Introduction Budgeting not only signifies the strategic objective of an organisation but also focuses on the process through which the ultimate objective shall be attained and the total expenditure likely to arise due to the execution of the planning…
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Measuring Performance
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Download file to see previous pages The objective of the paper is to identify the profitability of Jengo Ltd. that shall be beneficial for Palisade Plc. and thus shall provide with a reliable cause to purchase 50% of the organisation’s stake. In this regard, the paper will emphasise on identifying the nature of the business along with an in-depth understanding of the industry structure rewarding significant opportunities and noteworthy threats to the company’s success. The implication of balanced scorecard will also be considered in the paper to measure the performance of Jengo Ltd. Therefore, the paper will aim at supporting or opposing the decision of Palisade Plc. to purchase 50% of Jengo Ltd, based on the result of the analysis. a) Explanation of the Nature of the Business The nature of a firm depends largely on the business related environmental aspects such as economic fluctuations, social considerations, political involvement, technological development and other influencing factors. It is worth mentioning that Jengo Ltd is a five year old ladies’ fashion retailer in the UK (London and Birmingham). Thus, it relates to the national fashion retail industry of the UK. The business environment of Jengo Ltd is thereby discussed below through the implication of PESTLE analysis. Furthermore, the Porter’s Five Forces model shall be implemented in order to identify the opportunities along with threats likely to be faced by the company. A SWOT analysis shall also be conducted to recognise the strategic stance of the company with due consideration to its strengths as well as weaknesses. a) i. PESTLE Analysis Political Factors The political environment of the UK is witnessed to be fluctuating and in an unstable stage of recovery that in turn causes various challenges for the industrial sector of the economy. For instance, the spending cuts are stated to be the most crucial measures influencing the growth of the industrial environment in the UK (Stewart & Boffey, 2011). Economical Factors Along with the political environment, the economic trends in the UK are also stated to be in its recovery stage after the global turmoil of the recent economic recession. The current economic trend is recorded to grow by 0.5%, but is unstable in providing basic opportunities to the consumers. It is due to the fact that inflationary rates in the economy are growing with significant rapidity especially in the luxury product sector (Office of National Statistics, 2011). Social Factors The social factors in the economy are projected to grow at 0.7%. A majority of the population in the economy constitutes of people aged above 65. However, the life expectancy rate of females is recorded to be more than the males in the economy. The literacy rate is also favourable in the economy with almost 92% of the population being constituted with white ethnic group (Office of National Statistics, 2011). Technological Factors Fuelled up by the education and technology based living standards in the economy, business firms in the UK has also initiated to involve technological development in their organisational operations. On the similar context, the living ...Download file to see next pagesRead more
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