UK Energy Sector - Report Example

UK Energy Sector Table of Contents Task Industry Report 4 Analysis of the structure of the industry 4 Identification and of Industry Structure 4 Reason for the Structure 5 Possible Future Structure 6 Structure Affecting Decisions 7 Contribution of Sector to the Economy 8 Contribution to GDP 9 Contribution to Employment Generation 9 Trades 10 Competitive Advantage of the Industry 11 Porter’s Five Forces 11 PESTLE Analysis 12 Porter’s Generic Strategy 15 Value Chain Model 16 Global Advantages 18 Conclusion 18 References 20 Appendix 22 Task 2: Personal Reflection 24 References 28 Appendix 29 SWOT Analysis 29 Task 1: Industry Report This part of the report will analyze the energy sector in UK and will also highlight the competitive advantages of the industry using important theoretical frameworks and models. Analysis of the structure of the industry This part of the report will analyze the current market structure of the energy sector in UK. Identification and Description of Industry Structure The nature of UK energy industry structure is oligopoly as few organizations are operating within the industry. It is true that there is possibility of some small organizations operating within the industry, but in a word the industry is highly concentrated. There are limited numbers of large players that are dominating the overall UK energy market. These organizations are known as Big Six collectively. British Gas, EDF Energy, E. On, nPower, Scottish Power and SSE are known as Big Six organizations within the overall UK energy industry. These six organizations are generating and supplying almost 95 percent of the overall household electricity and gas (BBC, 2014, p.1). Rest of the 5 percent are generated and supplied by other small firms. This specific nature of the market justifies the oligopolistic market structure of the UK energy industry. It is clear that the average bill cost in the year 2014 is similar to each other (Figure 1). All the organizations have increased the price comparing to the year of 2013 due to hike in resources and raw materials cost. Most importantly, each and every organization is setting similar price and providing similar quality of electricity and power and gas to household based on the demand of customers and other clients. Therefore, it is true that the industry have oligopolistic market structure. Reason for the Structure There are several reasons behind the oligopolistic market structure of the UK energy industry. It is clear that the six big leading organizations are operating within the UK energy industry. Most importantly, these six organizations supply approximately 95 percent electricity and gas to the household. Therefore, it is clear that there are very few leading players in the market place. The generation of energy, transmission of energy and distribution of energy are highly cost and time consuming (Mackay, 2009, p.18). The organizations pay way higher to supply electricity to various clients and customers across entire United Kingdom. Most of the electricity in UK is generated at the large power stations and it is linked with the transmission network of the country. It is true that electricity also can be generated in the small scale power stations. But it is true that maximum amount of power is produced and distributed by six large stations in UK. In UK, the electricity network can be divided into two different aspects, such as transmission and distribution. Distribution network generally run at lower voltage comparing to the transmission network and this distribution network take the electricity and other power options from the specific transmission systems into the businesses and homes. On the other hand, transmission networks generally run at high voltages and generally cover long distances across UK (Taylor, 2008, p.81). It is both time and cost consuming and all the organizations within the industry have to follow governmental regulations. Strong energy regulation, high associated cost, limited market competition, limited scope for new players; high needs and high demand of customers are the major reasons behind this oligopoly structure of the UK energy sector. Supply and distribution of the electricity and gas to the households across UK generally involves three important elements, such as generation of electricity, transportation of electricity and gas, and selling the gas and electricity to business clients and end customers. The corporate oligopoly nature is controlling the entire electricity sector in the United Kingdom. This nature is allowing sidelining the renewable and automatically pushing the price of electricity and gas collectively. The UK energy sector has become an oligopoly as the Big Six organizations are controlling entire market through acquisition of small firms and vertical integration activities. Most importantly, these organizations are collectively accounting more than 95 percent of market share in the UK energy market. These organizations collaboratively controlled both supply, generation and transmission process. These are the major reasons behind the oligopoly nature of the market and industry (My Fine Forum, 2002, p.1). It is true that climate change is becoming a major problem and in future it may affect the business performance of these big six organizations within the UK energy sector. Government of UK is adopting and implementing several strategies to reduce the carbon emission during resource sourcing and allocation process. It is highly important for the Big Six organizations to maintain risk free business environment in order to maintain the oligopolistic business model of these six large organizations. Possible Future Structure It is true that the government is really approaching towards reducing of green house gas emission. It is true that the business environment in UK is changing drastically due to both internal and external influences. The Big Six organizations within UK energy sector are targeting to reduce the green house gas emission by almost 80 percent within 2050 (UKERC, 2015, p.1). Therefore, it is going to challenge the all the large players within the industry as resource allocation, electricity generation, supply, transmission and distribution activities account high carbon emission. But, government is trying to decarbonise all the activities within next 35 years. It may affect the oligopolistic nature of the industry. Most importantly, the government is trying to focus on innovation and advanced technological applications within the industry by focusing on geopolitical consequences in near future. It is discussed earlier that large players are going for vertical integration and acquisition activities in order to maintain oligopolistic structure. But, it is the policies and decision making processes that are influencing government to enhance industrial competitiveness in order to maintain sustainability within the industry. Two possible structures may be experienced by the industry. It is either perfect competition structure or normal monopoly structure looking into the vision and adopted policy. The government may take total control of the entire industry to reduce carbon emission. On the other hand, it is also possible that the government may influence all the organizations including small and big going for perfect competition to enhance environmental sustainability (Barbir, 2008, p.28). Structure Affecting Decisions The Big Six energy producing and distributing organizations’ price position can be strongly associated with several new firms to the specific UK energy sector. The government of UK has set several regulations and developed several sustainable policies for the organizations’ business operation process in order to maintain environmental sustainability. It means that an organization cannot operate within the industry beyond the policies and regulations. It may hamper the profit margin all the Big Six organizations. Most importantly, this oligopolistic structure and nature of the market is very difficult to maintain in near future due to new regulations and policies. This particular oligopoly market structure is forcing non-price competition among the existing players within UK energy sector. Therefore, it is clear that currently the organizations have to compete with each other based on other aspects expect pricing as pricing of electricity and gas are similar to each other. This oligopolistic structure may affect the business performance of the organization considering several aspects. It is clear from previous discussions that the industry is full of several small firms and new players beside of the six large organizations. Therefore, the small independent firms and new players may provide similar quality electricity and gas at discounted price. It can affect the market share of the leading and large organizations (Galloway, 2002, p.72). In the UK energy sector, it is primary and fundamental aspect of all the six largest organizations to provide high quality energy options at a similarly fixed price to households in order to meet the demand of the target customers. However, these organizations are forced to do similar pricing and product development activities due to the particular market structure. It may affect the innovative and creative idea generation process as the competition is limited in the industry (Skea, 2011, p.96). The energy sourcing and distribution process is highly cost and time consuming. Therefore, it is essential for the organizations to develop a strong market presence in the industry as soon as new services are launched. It is clear from the previous section that the market structure of the UK energy sector can get changed in near future due to strong government restriction and newly developed sustainable policies. Getting differentiated services and products are highly difficult for the customers and other business clients due to the oligopoly market structure. Therefore, this specific market competition can result in different types of unorthodox and individual market practices. These issues will provide an effective opportunity to new and existing small firms to grab the market share of the six leading organizations (MacLeay, 2010, p.61). Contribution of Sector to the Economy This part of the report will discuss about how this UK energy sector is contributing to the economy of UK. Contribution to GDP The economic growth of UK has affected due to recent economic recession and European Financial crisis. The recession hit entire economy of UK in 2007-08. After that each and every industry was slightly affected due to the recession. In the year 2012, the energy sector has contributed 3.5 percent to the GDP growth of UK (Gov, 2013a, p.3). The growth of the industry reduced slowly and steadily since 1980 due to several internal and external factors. Price hike of oil and gas resources, economic recession and reduced purchasing power are the major reasons behind the limited growth of the industry. In addition to this, government of the United Kingdom is trying to motivate several organizations to focus on the generation of environment friendly power options. These things are slowing down the growth rate of the entire UK energy sector. It is true that, the organizations and several public agencies used to invest lump sum amount in the operation of business performances of this industry, but ongoing issues and future consequences are affecting the growth rate of the industry (Figure 2). Since 2005, the investment in the energy industry has grown significantly due to the ongoing demand and market needs (Gov, 2013b, p.4). But, strict regulations and growing demand for environment friendly and cost effective energy options are motivating the business clients and several customers to focus on the substitute options. It is affecting the growth rate of the industry. As a result, the GDP growth of the country is also getting affected (Figure 3). Contribution to Employment Generation Employment generation can be considered as one of the important aspect in the country’s economic growth. It is true that UK energy sector has played an important role in the employment generation. However, employment generation the energy production, distribution and supply industry failed rapidly between 1980 and 1990 due to the shut-down of coal mines. In addition to this, growth of other industries is also the major reason behind this rapid reduction. But, the scenario has changed from the year 2005 (Figure 4). Government and the organizations within the industry played a major role to attract the job seekers towards the industry. Slowly and gradually, the employment generation ration increased since 2005. Now, this economic indicator is increasing significantly. This aspect has risen 63 percent in the year 2012 comparing to the year 2005 (Gov, 2013c, p.5). Trades Balance of payment can be considered as one of the important aspects in global economy. Balance of payment can be considered as a measure of several economic transactions between the residents of UK and other states around the globe. Oil can be considered as one of the major sources of energy. The first ever surplus on petroleum in UK was occurred in the year 1980. This oil trade has significantly contributed almost 45 billion pounds to the balance of payments of UK (Gov, 2013d, p.20). However, the largest petroleum surplus was accounted for 8 billion pounds in the year 1985. It reflected high price and production of crude oil (Figure 5). From 1990, the oil surplus started to fail due to lower expenses and cost. Moreover, the price of crude oil in global market has also reduced. But, in the year 2000, it again started to rise. From then, again the surplus started to decline and in the year 2005 it reached to the negative figure. In the same year, UK became the net importer of petroleum and other crude oil. Slowly and gradually, the production unit of crude oil started to demolish and UK heavily depends upon the importing of crude oil for energy generation aspect. It is also true that several aspects are affecting the energy generation and exporting activities, such as global politics, economic distress and unfavourable social environment. Competitive Advantage of the Industry It is clear from the first part that the UK energy sector has been dominated by six big organizations. They have adopted and implemented several strategies in business operation process in order to gain competitive advantages. This part of the report will analyze and evaluate the significance of the adopted strategies by the organizations within the UK energy sector by applying internal and external environmental analytical tools. Porter’s Five Forces Porter’s Five Force Model can be considered as one of the important external environmental tool that helps an organization to determine the impact of market competitive factors on the business performance of an organization. Following is the Porter’s Five Force Analysis of UK energy sector. Buyers’ Power The threat of buyer’s bargaining power is quite low for the UK energy sector as the structure of the market is oligopoly in which limited organizations are competing with each other. Most importantly, it is the limited market competition that has reduced the bargaining power of the consumers (Pedraza, 2014, p.37). Suppliers’ Power The threat of suppliers’ bargaining power is quite high for the UK energy sector as there is limited number of suppliers within the industry. Therefore, limited competition and lack of sufficient effective suppliers are allowing the suppliers to increase their commission and other cost. Therefore, it can be stated that the bargaining power of suppliers is high. Substitutes’ Threat Threat of Substitute is moderate for the organizations within the UK energy sector. The government of United Kingdom is trying to set and develop new regulation and policies for the oil and gas producing and distributing organizations in order to maintain environmental sustainability. It may hamper the business operation process of the large organizations. Therefore, several new players are entering in the industry and trying to provide environment friendly power options, which are being supported by each and every stakeholder. Therefore, it is true that the threat of substitute is moderate (Bending, 2004, p.19). New Entrants’ Threat Threat of new entrants is low as the major leading organizations have secured almost 95 percent market share. Moreover, huge entry cost, huge business operation cost band strong government regulations can affect the business performances of new players. Therefore, the threat of new entrants is low for existing players. Degree of Industry Rivalry Degree of industry rivalry is low due to the oligopoly market structure of UK energy industry. Moreover, few market players and similar type of pricing and distribution strategy has reduced the degree of industry competition (Schubert, 2008, p.22). PESTLE Analysis PESTLE is an important external environmental tool that helps an organization to determine the impact of external environmental factors on the business performance of the organization. Following is the PESTLE analysis of UK energy sector. Political UK is politically stable. Most importantly, the government is supporting the business events and activities of the organizations within the industry as this industry plays an important role in the economic and social growth of country. Therefore, the organizations within the UK energy sector generally get political support from government. Looking into this aspect, it can be stated that political environment is favourable for the industry. Economical Recent financial crisis and global economic recession affected the economic environment of the country. Low purchasing power of people, limited disposable income of people, high unemployment rate and affected GDP growth rate are the major consequences of this recent economic slowdown (Mobbs, 2005, p.14). This issue is affecting the UK energy sector itself as lack of effective employees and limited purchasing power of people is affecting the growth rate of the industry. Therefore, it is true that economic environment is unfavourable for UK energy industry. Social Social environment is slightly unfavourable for the UK energy industry as the demand for environment friendly energy options is increasing significantly among the people of United Kingdom. Moreover, the price of oil and gas is increasing at a rapid pace day-by-day. Therefore, it is highly important for the Big Six organizations within the UK energy industry to think about environment sustainability option in order to maintain their competitive advantages. Technological UK is technologically developed. The organizations within the UK energy sector are constantly using advanced technological applications in the resource sourcing, energy manufacturing, and transmission and energy supply activities due to significant availability of advanced technological support (Cooper, 2014, p.84). Therefore, it can be stated that technological environment is favourable for the UK energy industry. Legal The government of UK is trying to set new regulations and develop new policies for the organizations in order to maintain environmental sustainability. In addition to this, the government has also developed several health and safety regulations for the benefit of employees within the industry to overcome fatal accidents and injuries. Looking into these aspects, it is clear that legal environment is slightly unfavourable for the industry. The organizations within the UK energy sector will try to follow these rules and regulations in order to maintain a sustainable business performance (Chartier, 2012, p.12). Environmental The government of UK is trying to develop and implement several policies for the organizations within the UK energy sector in order to maintain the environmental sustainability. In addition to this, the government has announced that they will try to reduce the carbon emission rate by 80 percent within 2050. It will affect the overall business operation process of the organizations within the industry (Pietro, 2012, p.64). Therefore, it is clear that the organization may face several environmental challenges until and unless they do not implement some new strategies to overcome these. Porter’s Generic Strategy Porter’s generic strategy can be considered as one of the important business level strategy measurement tool that helps an organization within the industry to adopt effective business level strategy to overcome ongoing issues. Differentiation Strategy The organizations within the UK energy sector has adopted and implemented differentiation strategy in their business operation process as the organizations are trying to provide differentiated energy options, such as oil, gas and electricity to households and other business entities based on needs and requirements. The organizations provide differentiated services to the customers based on market needs and demand. Cost Leadership Strategy The organizations within the UK energy sector do not adopt cost leadership strategy. The market structure is oligopoly in nature and most importantly the organizations has adopted similar cost based pricing strategy. Recently, the price of oil and gas has increased in international market. Therefore, the organizations have increased the price of electricity and household gas. It has affected the purchasing decision of the customers. Focus Strategy The organizations within the UK energy sector do not adopt focus strategy. They only adopted differentiated strategy and they are continuing with that. Value Chain Model A value chain model is a chain of several activities that are operated by the organizations within an industry. This model helps an organization to provide effective goods and services. The value chain model can be divided into two parts, such as support activities and primary activities. Both are listed below with respect to UK energy sector. Inbound Logistics The organizations within the UK energy sector generally arrange the inbound movement of gas and oil from suppliers to manufacturing organizations or households and other business clients. Operations The organizations within the UK energy sector generally manage the process of input converting to outputs, such as law material, energy and labour to end services. The organizations always focus on effective resourcing of raw materials and distribution of quality energy services. Outbound Logistics The Big Six organizations within the UK energy sector have hired external supply chain agencies in order to transmit and distribute the electricity and gas to the end customers, such as households, retail stores and other business clients (Coe, 2010, p.196). Marketing and sales Each and every organization within the industry focuses on effective marketing communication process, such as traditional and digital marketing activities to promote and market the products. In addition to this, the specific oligopoly market structure does not make it difficult for the organizations to sell their products due to low market competition. Service Effective customer support and after sales service have helped all the Big Six organizations to gain potential competitive advantages over the competitors. All the large organizations have established a customer service department to ensure effective after sales and pre-sales service of consumers (Zillman, 2014, p.41). Procurement The Big Six organizations within the UK generally do the acquisition of services and other raw material from external agencies and other small firms. The crude oil and other necessary things are sources from outside of the states or country. Human Resource Management The human resource management of each and every organization within the industry majorly focus on the HR issues within the firm. All the Six firms have developed flatter organizational structure in order to enhance effective communication approach between the upper level and lower level of the organization. Technological Development The organizations within the UK energy sector are using advanced technological machineries and applications in order to enhance effective business operation performance. Manufacturing, energy generation and energy distribution requires effective technological support and the organizations are effectively using advanced technological resources in UK. Infrastructure The Big Six organizations within the industry have developed effective infrastructure, including quality assurance, R&D team, finance department, general management and legal department to ensure effective business operation activities. Global Advantages This UK energy sector as a whole has a global advantage. In terms of energy generation and distribution, UK ranks eleventh in the list. In addition to this, the organization has improved its trading activities in several countries across the globe. These trade activities have improved the relationship between UK and other countries or states across the globe. In addition to this, this specific industry plays an important role in employment generation. People of different countries come to UK in search of Jobs. It actually increases the goodwill of the industry as well as country (Meadowcroft, 2009, p.159). Recently, the industry is losing its growth rate due to several reasons. Several developed and developing countries are trying to focus on environment friendly energy options. These countries are looking for green energy solutions as some other underdeveloped countries are focusing on the exporting activities. But, recently UK is facing difficulty in the export of energy due to several issues. These aspects are affecting the global advantage aspect of the UK energy sector. Conclusion It is clear from the above analysis and evaluation that the nature of the UK energy sector is oligopoly as very few leading organizations are operating within the industry. It is true that there are other small firms within this industry, but Big Six companies within this industry have grabbed almost 95 percent market share across UK. These six organizations have total control on product development, pricing and distribution of the energy across the globe. However, recently the organization is facing several issues. Government of UK is trying to reduce the carbon emission level by 80 percent within next 35 years that may affect the business process of the organizations within the industry. In addition to this, several new players are trying to provide substitute energy options to the consumers to maintain environment sustainability, which may impact the current market structure. Limited competition in market and unfavourable economic condition of the market is the major characteristics of this particular industry. It is highly important for the organizations to overcome the current issues and follow developed policies in order to maintain competitive advantages in near future. References Barbir, F., 2008. Sustainable Energy Production and Consumption. London: Sage. BBC., 2014. Who are the Big Six energy companies? [Online]. Available at: http://www.bbc.com/news/business-24670741. [Accessed on March 11, 2015]. Bending, R., 2004. UK Energy. London: Routledge. Chartier, P., 2012. Biomass for the energy and environment. London: Sage. Coe, N., 2010. The Economic Geography of UK. London: Routledge. Cooper, M., 2014. Energy Performance. London: Cambridge University Press. Galloway, J., 2002. Optimizing Petroleum Management. London: Routledge. Gov., 2013. UK Energy in Brief. [PDF]. Available at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/224130/uk_energy_in_brief_2013.PDF. [Accessed on March 11, 2015]. MacKay, D., 2009. Sustainable Energy. New York: Springer. MacLey, L., 2010. Digest of United Kingdom Energy Statistics. London: Kogan Page. Meadowcroft, J., 2009. Caching the Carbon. Stamford: Cengage Learning. Mobbs, P., 2005. Energy beyond oil. New York: Springer. My Fine Forum., 2002. Reclaim the Power! A Call to Action against energy austerity. [Online]. Available at: http://leftalternatives.myfineforum.org/viewtopic.php?t=555&start=0. [Accessed on March 11, 2015]. Pedraza, J., 2014. Electrical Energy Generation in Europe. London: Sage. Pietro, A., 2012. Photosynthetic aspect and Energy. Munich: GRIN Verlag. Schubert, S., 2008. A comparative analysis in energy sector. New Jersey: Pearson. Skea, J., 2011. Energy 2050. London: Sage. Taylor, K., 2008. Renewable and Alternative Energy Resources. London: Cambridge University Press. UKERC/. 2015. An options approach to UK energy Futures. [Online]. Available at: < http://www.ukerc.ac.uk/programmes/energy-systems/an-options-approach-to-uk-energy-futures.html>. [Accessed on March 11, 2015]. Zillman, D., 2014. The law of Energy underground. New York: Springer. Appendix Figure 1 Figure 2 Figure 3 Figure 4 Figure 5 Task 2: Personal Reflection It is highly important for each and every organization within a particular industry to understand the nature of the factors to get success in business operation process as the global business environment is changing constantly. Economics and strategy have huge importance in the made decisions. An organization should make a match between its external relationships and internal strengths to develop a viable strategy. It is true that each and every organization has a set of own capabilities and resources, but it is also important for the management of each and every organization that how the strategies and decisions are deployed in the both external and internal stakeholder relationships (Hoffman, 20000, p.32). It is the resource based view strategy that determines how the internal strengths and resources of an organization are responsible for the strategic choices and how it will help a corporation to compete in the external environment. In some cases, it is true that strong internal capabilities of an organization help to develop new markets in global places and create huge value for the customers. In this present era of competitive business environment, each and every organization within a specific industry needs some extra things that help a particular organization to stay competitive comparing to other existing market competitors. Each and every organization needs to set up several innovative and distinctive capabilities in order to gain potential competitive advantages over the other competitors. This aspect will help the organizations to develop a potential customer base across the globe as effective value addition for the customers will help to satisfy the needs of target customers. It is also important for each and every organization within the industry to realize the importance of several economic factors such as, demand and supply in this macroeconomic environment. An increase in demand will automatically result higher price of the products and services in the market. On the other hand, increase in supply will automatically result lower price of the products and services in the market place (Kandula, 2005, p.28). Therefore, it can be stated that an organization will always charge high price of its products and services, when the market demand is high. The organizations have to do so as it is unpredictable, when the supply can get increased as it depends upon the economic environment. Most importantly, it will affect the pricing of the products and services. It is true that, growing unemployment can be considered as one of the important economic problems. Young and fresh graduates are finding it difficult to get an employment opportunity in this constantly changing business environment. In addition to this, several migrated people in different parts of the world are also finding it difficult to get employment opportunity due to the closing down of several organizations and sectors. It is true that almost one percent student gets employment opportunity after six months of their completion of graduation courses. It can be considered as a horrible figure to understand (Sinay, 2014, p.18). The booming industry in UK is education sector. Therefore, I am willing to get an employment opportunity in this sector. It is true that the organizations that can significantly react to the external environmental changes; have every possibility to get success in it. The organizations need to focus on extra value addition and sustainability in business operation process in order to gain potential competitive advantages over the existing competitors. SWOT analysis can be considered as one of the important strategic management tool that helps an individual to determine his or her internal strengths, weaknesses and external opportunities and strengths. A personal SWOT analysis has been carried out to determine my strengths and weaknesses (Appendix). It will also help me to identify my external opportunities and threats that can shape my future carrier. There are several individual strengths within me. I am a good speaker as well as a good listener. In addition to this, i am very much extrovert that will help me to share my views and thoughts with other individuals. I am a good team player and i have some good leadership skills. I have the ability to lead my team from front. These are my internal strengths. On the other hand, there are some weaknesses too. I am too much confident in any kind of work that can hamper my objectives. In addition to this, i believe that i have some knowledge gap that can create issues in my decision making and strategy development process. There are several opportunities as well as threats, but i need to focus on my strengths and work on my weaknesses; so that i can capitalize on the external opportunities (Chi, 2006, p.71). It has been discussed earlier that i have the strong intension to get an employment opportunity in the educational sector. In addition to this, it is also true that the nature of UK education sector is changing drastically due to change in economic environment and growing demand of the employment opportunities. Therefore, it is highly important for me to focus on my strengths and weaknesses as effective management and leadership skills will help to grab effective opportunities in my professional career. It is true that lack of knowledge and too much over confidence can create difficulties and issues in my workplace. I have to work hard to set a benchmark within the organization. It is clear that the overall job environment is becoming highly competitive due to growing unemployment rate in UK (Langabeer, 2000, p.92). Therefore, i have to gain a significant experience in my job role in the workplace. In addition to this, hard-work and effort behind my job responsibilities will help me to become a successful professional in life. It is conclusively stated that, i am eager to get into the educational sector and get an employment opportunity whenever i will gain sufficient knowledge and expertise over my job roles and job responsibilities. The business environment is UK is becoming highly competitive. Therefore, I should focus on my studies with strong intension and dignity to become a successful professional. References Chi, T., 2006. Relationship between management and business environment. New York: Springer. Hoffman, A., 2000. Competitive Business Environment. London: Sage. Kandula, S., 2005. Management in competitive business environment. London: Routledge. Langabeer, J., 2000. Competitive business strategy for teaching. London: Routledge. Sinay, J., 2014. Professionalism in Competitive Business environment. London: Kogan Page. Appendix SWOT Analysis Strengths Strong Communication skills. Effective leadership skills. Good team manager. Extrovert in nature. Flexibility during pressure situation. Effective time management ability and good presentation skills. Weaknesses Too much over confidence. Lack of appropriate knowledge. Still i need to receive my graduation degree. Opportunities Development of new skills. Capitalization on new opportunities developed due to technological advancement and globalization. Knowledge acquisition. Gain of practical experience before gaining employment opportunity to be an effective professional. Threats Inadequate economic environment. Inadequate economic environment and growing unemployment rate. High competition in job market. Shut-down of several organizations can limit my opportunities in near future. Read More