Resources: Human resources: Option 1 (Large store): Orla will need extra ____ to handle cleaning, ____, and potentially sales support. This increases ____ but gives her more time to focus on design and ____. Option 2 (Small store): Orla plans to run it ____, saving on staff costs but increasing her personal ____, which could impact work–life balance and limit expansion ____. ResourcesPhysical resources: Option 1: The shopping centre location has large display ____, storage, and modern facilities – ideal for showcasing ____ items and creating strong ____ visibility. Option 2: Smaller premises, older building, and the need for ____ may reduce professional appeal, but the included flat could reduce her living ____ if she moves in. Resources: Financial resources: Option 1 requires higher ____ costs (e.g. $62,400 rent) and a predicted sales target of $131,040, meaning higher ____ risk if sales fall below forecast. Option 2 has ____ fixed costs ($42,120 rent) and lower predicted sales ($84,500), meaning less financial ____ but also lower growth potential. Business structure and strategy:Option 1 aligns with Orla’s ____ objective by ____ profits through higher sales volumes and brand ____ in a busy shopping centre. Option 2 keeps the business small and ____, allowing her to maintain full ____ but possibly limiting long-term ____. Brand identity and positioning: Orla’s brand emphasises sustainability and ____ fashion. A ____ retail location (Option 1) could strengthen this image and attract a larger customer ____ who value exclusivity. A smaller ____ shop (Option 2) may still support brand loyalty but could restrict wider ____. External Business Environment:Market trends (social and cultural factors)The fashion ____ is under pressure due to ____ fashion’s environmental impact. ____, consumer awareness of sustainability is rising, with 71% stating concern about eco-friendly ____. Both options benefit from this trend, but Option 1 may position Orla more competitively by offering ____ visibility in a modern shopping centre where ____ expect choice. Economic factors:If disposable ____ is high, customers may spend more on Orla’s ____ sustainable fashion. However, in times of economic ____, higher costs in Option 1 may become ____. Option 2 provides lower ____ in uncertain economic climates due to smaller overheads. Technological factors:Online platforms and digital ____ are becoming essential for fashion businesses. Option 1 may integrate with ____ strategies by using the store’s visibility to attract online sales. Option 2, with lower financial ____, may allow Orla to reinvest in ____ marketing and personalised services. Legal and regulatory environment:Both options must comply with ____ and safety, employment, and consumer protection laws. Option 1 will involve employment ____ and labour regulations as ____ are hired. Option 2 avoids employment law issues since Orla runs the business ____. Environmental factors:Operating ____ is central to Orla’s business identity. Option 1, in a modern ____ centre, may have better waste management and energy efficiency but higher carbon ____ due to commuting and large energy bills. Option 2 has lower ____ and may align better with the sustainability ____, especially with plans for made-to-measure items. Competitive environment:Option 1 (shopping centre) places Orla closer to direct ____ (fast fashion brands), which could either ____ her sales or provide opportunities to stand out with her unique eco-friendly ____. Option 2 faces less direct fashion competition in a ____ town setting, but this may also mean fewer potential ____ compared to a shopping hub. Summary of Internal vs External Influences:Option 1 (Large store): Strong potential for ____ growth, higher visibility, and alignment with Orla’s ____ of increasing brand recognition. However, it carries higher ____ due to high fixed costs, staffing needs, and competition. Option 2 (Small store): Lower ____ risk, manageable structure, and ____ working model, but growth opportunities and brand visibility are more ____.

Y13 BTEC - Business Environment

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