What are cryptocurrencies, why are they important and what roles do they play?
In your answer make sure you explain the concept of the blockchain. In preparing your report,
choose a cryptocurrency and describe its functions. Start by reading their white paper. For
example, you can choose coins such as Ethereum, Vertcoin, Tron, Bitcoincash, etc.
Operating in a global environment requires companies to be in line with the global legal system as well as the local legal systems of countries in which they have operations. As an example, as M & S venture in to China, labour policies adapted in China should be within the labour regulations of Chinese government and also it needs to comply with the standards of International Labour Organization. Similarly, since M & S operates in the food and beverages industry, the process in which the food business is carried out should be in line with the food product standards that are enforced at local levels. Apart from the labour and food product regulations, the companies starting businesses in other countries also should comply with the companies law of those countries where the entity needs to be duly incorporated in those countries according to respective laws while ensuring that the reporting occurs as an when required. Micheal Porter’s Five Forces Analysis Porter’s Five forces analysis is a tool that is developed to identify the threats and opportunities resulting from the task environment of the business which is comprised of the forces that business closely interact with. (Henry, 2008) Five forces analysis for M & S can be conducted as follows: Buyer Power The buyer power of M & S consumers is identified to be low as the customers are unable to influence the prices. Prices are set high as the target audience is high income earners seeking for luxurious life style. Further, since there are a large number of buyers in the market, the power of individual buyer is very low and as the revenue contribution by individual buyers is a very low, the bargaining power of individual buyers is concluded to be low. Due to above mentioned reasons; the low bargaining power of the customer is identified as a opportunity for M & S as they can decide on the selling price. Supplier Power M & S is a large scale buyer who is in a position to bargain and decide on the price and therefore the supplier power is considered to be low. Due to the large quantities purchased, M & S receive bulk discount and due to the established the brand name it is easy for M & S to bargain with suppliers to build business relationships. Further, suppliers are given other additional benefits such as technology transfers by M & S, suppliers are under obligations to give priority to produce goods for M & S reducing the bargaining power of suppliers. Therefore, M & S has significant control over its supplier base and it can be identified as a positive environment factor.>GET ANSWER