Leading fashion retailer

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Introduction

Next is one of the leading fashion retailer based in United Kingdom having more than 500 stores in UK and Ireland. Next offers stylish and quality products including clothing, footwear, accessories and home products. It also has an extensive catalogue retailing division and launched online retailing in 1999.

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Being one of the very successful retail companies in UK, it is has got more than franchise branches in Europe, Asia and the Middle East. Next started its retail business in 1982 by opening a womenswear store. However the origin of its business can be traced in 1864 when J Hepworth & Son, Gentleman’s Tailors was established in Leeds. By 1985 , there were 52 stores and apart from womenswear, it started selling menswear, shoes and soft home furnishings. It was 1986 when the company changed its original name from J Hepworth & Son to Next Plc after acquisition of Grattan plc, a mail order company. The company launched mail-order shopping system by launching acatalogue containing 350 pages. Since then, the company has been growing and now they are doing business from other countries as well. It opened its first Scandinavian store in Denmark in 2004 offering menswear, womenswear and childrenswear. Now they also have online shopping facility.

Literature Review

Every organization exist in a dynamic and complex environment. The business environment refers to those factors which have great impact on organization and its activities. These factors can be within the organization or outside the organization. The internal factors such as competitors, customers, stakeholders, suppliers, etc which are considered to be controllable by the organization. On the other hand, the external environment which is not controlled by the organization consists of economical, technological, political, legal, social and cultural factors. Since all these elements of the business environment keep changing, the organization faces lots of problems to run its operations and achieve its targets. One of the major determinant for organizational change is globalization. Today, the world has become a single market place. Different organizations and people from different countries share their ideas, knowledge, culture, behavior through communication and trade. globalization has a serious impact on the organization as it has close relationship with the organizational forces like cultural, technological, political, social, environmetal. Etc.

Globalization

Globalization is one of the highly debated issue for a long time. Globalization refers to a process by which the people and the organizations move toward a more integrated and interdependent world economy. According to Thomas Friedman, “Globalization is the interweaving of markets, technology, information systems and telecommunications systems in a way that is shrinking the world from a size medium to a size small, and enabling each of us to reach around the world farther, faster, deeper, and cheaper than ever before,

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