STEEPLE Analysis of UK Supermarket Term Paper Example | Topics and Well Written Essays - 2500 words

STEEPLE depth psychology of UK Supermarket - Term Paper ExampleSTEEPLE (Social, Technological, Environmental, Economic, Political, Legal and Ethical) analysis is amongst the most effective tools that are apply to monitor changes taking place in the environment of the business (Brown, 2007 Griffith & Harmgart, 2008) the analysis is d integrity to identify whole important factors that can have a significant impact on any organisation operating(a) in the UK supermarket intentness. Li (2008) and Vasquez-Nicholson (2011) emphasized that Morrison PLC is a dominant brand in the UK supermarket industry as it derives its private-enterprise(a) edge by doing STEEPLE analysis frequently. It has successfully achieved its target market size by exploiting all(a) 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 mor e make up ones mind on practicable 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 diverse neighborly changes happening in the country. Supermarkets have availability of various non-food items which are usually on bargain in the market. There have been demographic changes because there is an increase in old people, the number of distaff 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 fault 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 avail of technological gadgets, products are available quickly, personalized services are offered to customers and shopping has become convenient (Akter, 2012). The major(ip) systems that have enhanced UK supermarkets functioning are Electronic Point of Sale, Efficient Consumer Response, Electronic scanners and Electronic bullion Transfer System these systems have assisted inefficient distribution and merchandising activities so that requirements of each accompany are effectively communicated on time to the supplier (Grugulis, Bozkurt and Clegg, 2010). Environmental Analysis All organizations have to betoken that t hey 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).