Explain How Changes In The Current Economic Climate May Affect Your Business

1047 Words5 Pages
Task1 Using your business, describe how the changes in the current economic climate will affect how your business operates. For this assignment I have decided to use John Lewis as my business. The John Lewis Partnership's 69,000 Partners own the leading UK retail businesses. This means that profits and benefits created by their success are shared by all our Partners. The weekly sales figures in 2007-08 is 3.3% in 2006-07 was9.1 By looking at the sale figures I can say that economic climate is affecting my business. Percentage are lower than 2006-07, the reason why im saying this is because people cant afford to buy expensive clothes, because its getting expensive to live, prices going up for e.g. delivery vans that gets clothes into…show more content…
Also if somene going with a car it could affect them ass well because petrol prices gone up. it could have very big affect on staff pbecause they now have to pay more for a petrol, mortgages,bills. also government could invest more money in to the roads buses so it could be good for both companies.John Lewis and government. Because if they invest more in roads buses more people will be traveling by bus,because people can save more money and timealso the government can charge more. If John Lewistreins their staff it means that staff will have more skills and knowledge so wages should go up as well, but government is spending high procentige on NHS and schools so if the government will not pay more money for trained staff they will be looking for another job. Also the business might set higher targets for staff e.g tpo provide the best service to its customers,longer hours, cheaper prices, discounts, offers. More people will be interested. John Lewis is loceted in the hight street so its easy to find
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