Question

Imagine you are leading the HR department at Nordstrom’s, list two environmental factors you believe will have/is having a major influence on the business. Provide the definition of the environmental factor AND why you feel it’s impacting Nordstrom’s.

Answer 1

The environmental factors that can have a major impact on Nordstrom are stated as under:

1. Increase in competition- There is a rapid emergence of rival companies in the clothing, accessories, handbags, jewelry, cosmetics, and fragrances industry. In order to survive the competition and stand out, Nordstrom’s should constantly keep an eye out on the market and formulate its policies and strategies accordingly.

2. Changing technology- Latest technologies are allowing greater reach of the product to the customers and are thus improving the marketablity of the product plus making it more consumer friendly. Therefore, it is important for Nordstrom’s to keep pace with the changing technologies in order to survive in the long run.