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Literature review: Retails industries in UK
Pages 7 (1757 words)
LITERATURE REVIEW: RETAIL INDUSTRIES IN UK Introduction The recent financial crisis caused huge problems in capitalist countries such as UK and US whereas Asian countries escaped from it. It should be noted that heavily populated countries such as China and India are developing rapidly whereas European countries are struggling to develop as rapidly as Asian countries.
Foreign companies currently acquired many prestigious UK companies. For example, Indian automobile manufacturer TATA group recently acquired Britain’s prestigious automobile manufacturer Jaguar and Land Rover. Inman (2009) mentioned that ‘the unemployment in UK may cross more than 3 million in near future itself as Britain's manufacturers, retailers and service industries feel the full effects of the downturn” (Inman, 2009). Lynn (2010) also expressed similar opinions as expressed by Inman. “Stakeholders such as the government, customers and dealers often hold a large stake in any negative turn the UK’s economy takes” (Lynn, 2010, p. 65). Unemployment was not a big problem in Britain before the recession. However, the scenario has changed a lot now. Many working professionals in Britain have either lost their jobs or got their salaries cut because of the recession. Retail and manufacturing sectors are prominent employment providers in Britain and their poor performances brought huge challenges to working professionals. The retail industry is a sector of the economy in which individuals, employees, consumers and organizations interact each other. ...
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