HRM IN BUSINESS CONTEXT Coursework Example | Topics and Well Written Essays - 1250 words

HRM IN BUSINESS CONTEXT - Coursework Example Along with this another reason for the slowdown in the market is the inflow of the inferior quality of products into the market for futon which has acquired all the market share of the first time buyers or the students. The Furniture Manufacturer’s association have also appealed to the European Union for the control of such imports from India and the countries of the Far East (Hill and Jones 43-45). The changes in the policies of exports and imports of the government may have an effect on the revenue of the company. This will have an effect on the production level of the company and it would employ less people in the process of production. Thus there is threat of competition from the foreign countries. The company is also influenced by the government grants and in order to set up factory in such areas these grants are essential. Therefore it might be difficult for any other competing firm to open operations in Nottingham at ease (Palmer and Hartley 99-116). The availability of the hardwood and the softwood would have an influence on the costing of the company. Thus the barrier to entry is high for the new entrants. The company needs to have enough labour supply in order to continue with the production process. Since there is unemployment in the area the company can get adequate supply of labour. This means that the bargaining power of the labourers is low. The company is also influenced by the various laws relating to the emissions in the organisation. If the levels of emissions are not maintained the company would have to pay a huge amount of fine to the government. Niche Market for Futons and Sofa-beds The market for sofa beds and futons is a niche market because it is targeted towards those customers who are the students or the first time buyers. This market is an extremely specialised market in the town of Nottingham. The market is of the size of 10.7 billion pounds. The company though produces only a certain line of products, the company appeals to people of all the income groups. This is because the company has product made for the people who have lesser amount to spend as well as for those customers who generally look for the premium priced products. The company also caters to the unique styles and the wacky design segments for the furniture cover. These products are preferred by people with a different kind of taste. The import markets of the UK are mainly driven by China which account for 33% of the market share. The furniture is also imported from the Italian as well as German Markets. STEEPLE Analysis Social The products of the company are purchased by the people from different groups of income. Thus the portfolio of niche products of the company includes something to offer to each of the segments. The company has an opportunity to cater to the other markets. Technological The new methods of technique are used in the production process of the company. The company can use the advanced techniques of incorporating the high efficiency cyclones that would reduce the level of emissions. The incorporation of the new technology would also reduce the requirement of people in the company because the production process would be more automated. This would also be an opportunity for the company if the manufacture the various new technologically advanced products. Economic There are several economic factors that may affect the operations of the company.