Next plc.’s SWOT analysis keeps it in a position which is advantageous by increasing its strengths and grabbing opportunities which comes into Next Company’s ways and this analysis also helps Next Plc. to keep a check on its threats and gain notice to its weakness so that the company can work onto its weakness and transform the weakness into strengths.
The key external drivers that affect an organization are governed by the PESTLE ANALYSIS. Pestle analysis is used to describe frameworks which are analyzed by the macro environmental factors. Pestle analysis basically involves 6 factors which are derived form the word pestle itself. Each alphabet of the word pestle signifies a factor in itself. Pestle analysis is very easy and simple analysis it is easy to understand and quick to implement. The most advantageous part about this strategic program is that it develops management with a proactive and structured thinking for making and taking decisions. Next Plc. is a company in the industry of fashion. The fashion industry as we all know is very dynamic. There is always a threat to new entrances in the industry the same is the case with Next Plc. the buyer is always at a stage where he has the power to bargain. Next Plc. has buyers all over the world the bargaining power of such huge buyers is quite big. Hence, the money prices and profit margin are to be set strategically. Same is the case with supplier’s Next plc. Has faced many stances where the supplier has applied their bargaining power to increase their rates and this has caused many changes in the material and short supplies for Next Plc. there are always a potential threat from the substitutes Next Plc Company faces the same. The competitors like ASOS, Republic and many more are a tough competition for Next plc.