In the paper “STEEPLE Analysis of UK Supermarket” the author analyses activity of Morrison PLC, a dominant brand in the United Kindom supermarket industry as it derives its competitive edge by doing STEEPLE analysis frequently…
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STEEPLE (Social, Technological, Environmental, Economic, Political, Legal and Ethical) analysis is amongst the most effective tools that are used to monitor changes taking place in the environment of the business (Brown, 2007; Griffith & Harmgart, 2008); the analysis is done to identify all important factors that can have a significant impact on any organisation operating in the UK supermarket industry. Li (2008) and Vasquez-Nicholson (2011) emphasized that Morrison PLC is a dominant brand in the UK supermarket industry as it derives its competitive edge by doing STEEPLE analysis frequently. It has successfully achieved its target market size by exploiting all strengths and availing opportunities present in its external environment. STEEPLE Analysis of UK Supermarket Every market is significantly impacted by both micro and macro environmental factors, but macro environmental factors have more influence on operational activities of a business (Jarett, 2012). Each factor of STEEPLE analysis with its relation to the UK supermarket industry is discussed below: Social Analysis The current trends of consumers in the UK market depict that they are moving from one stop shopping to a bulk buying mode as there are various social changes happening in the country. Supermarkets have availability of various non-food items which are usually on sale in the market. There have been demographic changes because there is an increase in old people, the number of female workers is increasing, and there is a significant reduction in homemade meals (Davis and Relly, 2009). There is more emphasis on the private label share of every business mix, efficiency in supply chain, and improvements in operational activities so that the overall cost of business is reduced. Most of the retail giants in the UK are now shifting to local suppliers for their purchases and stock requirements (Vasquez-Nicholson, 2011; Waterman, 2007). In addition, consumers’ demand of products and services has changed because of their social conditioning along with their beliefs and attitudes (Lyan, 2007). Technological Analysis Technological developments have enhanced the service level of supermarkets in the UK as they have benefitted both consumers and companies. With the help of technological gadgets, products are available quickly, personalized services are offered to customers and shopping has become convenient (Akter, 2012). The major systems that have enhanced UK supermarkets’ functioning are Electronic Point of Sale, Efficient Consumer Response, Electronic scanners and Electronic Funds Transfer System; these systems have assisted inefficient distribution and merchandising activities so that requirements of each company are effectively communicated on time to the supplier (Grugulis, Bozkurt and Clegg, 2010). Environmental Analysis All organizations have to show that they engage in environmentally friendly activities; there is increased pressure on various managers and companies for acknowledging their social responsibility and they are required to behave in a beneficial way for the society (Smith, 2004).
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(STEEPLE Analysis of UK Supermarket Term Paper Example | Topics and Well Written Essays - 2500 Words)
“STEEPLE Analysis of UK Supermarket Term Paper Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/macro-microeconomics/1458405-part-a-conduct-a-steeple-analysis-of-the-uk.
The research paper is a detailed report on the critical evaluation of the citation that “UK supermarket sector is an oligopoly”. The segment of the supermarket in the UK falls under the Competition Commission’s authority. The Commission is bestowed with the responsibility of ensuring the activeness of competition in the market, with the objective of meeting the needs of the consumers.
Europe. There are several companies operating in the supermarket segment in the UK market. Britain’s food retailing is the ‘most concentrated’ in Europe. With top five supermarket chains such as Tesco, ASDA, Sainsbury’s, Morrisons and Safeway, they control approximately 70% of all food obtained from the market.
The term STEEPLE is an acronym for Social, Technological, Economic, Environmental/ Ecological, Political, Legal and Ethical factors (Kew and Stredwick, 2010). The purpose of this paper is to first conduct a STEEPLE analysis of the UK supermarket sector, and identify the external contexts which influence this segment of the retail industry.
Introduction The last two decades has witnessed the dominance of supermarkets in the retail sector of the United Kingdom. The key essence or reason for this dominance of the supermarkets is that they have been able to provide an assortment of products as well as services at an affordable price and invariably from a single retail store destination.
Like in other part of the world, there has been increasing spread of spending culture in the UK. The tradition culture of spending on what is required is slowly dying away and there has been evidenced increase purchase from consumer. This has been enabled by increase in disposable income as more and more people shift their livelihood upward.
In recent years UK supermarkets have come under increased scrutiny over their treatment of suppliers, particularly of own-label products, yet the development of strategic supply networks has been an integral part of most supermarket strategies for the past decade.
Sainsbury Plc. This report will start by giving a brief background of the two organizations in terms of their financial approaches. The analysis and benchmarking of their financial ratios will follow. This paper concludes with a recommendation for Tesco Plc to improve its liquidity.
Also there are other firms which play a comparatively smaller role and operate as discounters or high level specialty stores. The worth of UK’s grocery retail industry, which operates through almost 96000 stores, is evaluated to be around 135
grew from humble beginnings in 1939 as a grocery store to the present day where it has a chain of 192 retail stores and 21,000 employees on its rolls. The fact that it is an established chain means it would be able to leverage upon brand recall and the associated values of
In every business environment, the macro analysis is important to identify the factors that can hamper operations of organization’s progress in the industry. STEEPLE (Social, Technological, Environmental, Economic, Political, Legal and Ethical) analysis is amongst the most effective tools that are used to monitor changes.
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