Business Environment of the Body Shop in the UK - Literature review Example

Best Body shop predominantly uses a premium based differentiated approach to marketing instead of assuming the market leader position. Therefore, Saleem (2006) points out that such an enterprise is vulnerable to economic variations in the UK. Besides, the aftermath of the global economic crisis of 2007 presented major challenges to the UK market and especially, businesses like Best Body Shop that entirely depends on revenue generated from the UK economy. However, opportunities for success still exist through structured stakeholder collaboration.

Social-Cultural Wetherly & Otter (2014) explain that the complex interplay of social and cultural factors of the UK market either declines or improves cosmetic and beauty industries. Hence, Best Body Shop should aim to identify a set of practices that appeal to all the cultures. Representation of an essentially inclusive social and cultural economy is a success strategy. Technological Essential improvements like internet services offer the business unique opportunities like online transactions, issuance of invoices and assessment of customer feedback.

Thus, Best Body Shop and similar industries have received an exponential sales and rapid online shopping for the beauty products in-store. Hence, technological advancements open avenues for business expansion. Nonetheless, technology is a risk factor if mismanaged. Legal The best Body shop must comply with legal standards stipulated by the European Union and UK laws. Specifically, Kew & Stredwick (2008) highlights that the UK laws stipulate that the shop must conform to requirements for minimum wage payments, legislation for fair marketing, hiring, compensation, and equal treatment of all employees.

Environmental The national product market is a function of the physical environment. Kamieniecki & Kraft (2008) are of the opinion that corporate environmental reporting requires ethical operations beyond legal compliance. According to the UK physical environment, Best Body Shop should transact with business while ensuring the sustainability of the resources. On a positive note, the UK physical environment, which lacks natural disaster s, encourages the success of the body business.