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SUPERMARKETS-GLOBAL BUSINESS ENVIROMENT - Essay Example
Pages 3 (753 words)
Supermarkets-Global Business Environment Supermarkets-Global Business Environment Introduction The role of UK’s supermarkets in the overall economy of the state is quite significant and cannot be sidelined…
Changes in the Business Environment With the competitive market environment today, there is a great influence of the changing business environment to the process and strategies with which a company or business is run. Business environment can be considered as the social or cultural environment in which the business is operated. It also comprises the internal factors which are penetrating within the business. The basic elements making the entire business environment can be the company’s customers, competitors, employees, suppliers and other individual bodies which are directly influencing the business. Since supermarkets hold an essential place for almost everybody, therefore it is getting more popularity and expansion within people. With the passage of time, the number and range of people using services of supermarkets has also expanded to an enormous level, including both the high class and the middle or low class people (Richards, 2013). This has opened opportunities for several small supermarkets to enter the business and acquire the market share of the big and leading enterprises. With the growing number of market entrants over the period of 2006- 2012 in the UK supermarkets, the business environment has become further intense and competitive. ...