SUPERMARKETS-GLOBAL BUSINESS ENVIROMENT Essay Example | Topics and Well Written Essays - 750 words

SUPERMARKETS-GLOBAL BUSINESS ENVIROMENT - judge ExampleChanges in the line Environment With the competitive market environment today, there is a nifty influence of the changing business organization 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 companys customers, competitors, employees, suppliers and other individual bodies which are directly influencing the business. Since supermarkets hold an inherent place for almost everybody, therefore it is getting more popularity and expansion within people. With the passage of time, the number and flow of people using services of supermarkets has also spread out to an enormous level, including both the high class and the nerve or low clas s people (Richards, 2013). This has opened opportunities for several small supermarkets to enter the business and take in the market share of the spectacular 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. ... As the technology has prospered tremendously over the years, demands and expectations of consumers pitch also reached to a new level. Businesses can no more expect customers bliss by providing conventional services, which does not offer ease and benefit together to customers. For this reason, many of the supermarkets have expanded their range of products, to provide more stuff to customers under one roof (-Poitier, 2001). This idea has been incorporated by the Asda supermarket, which has enabled it to increase its overall sales, by opening more options for consumers. In this way, many customers coming to buy grocery are attracted t owards furniture or household items, and this allows the business to make more sales (Ayushveda Business, 2009). The effect of globalization cannot be negated in this respect, as it has been one prime reason of the changes occurring in the business environment. A big difference in the supermarket of today, from what it is used to be some 15-20 years back, is the types and range of products they offers to their customers (Business Education, 2013). This depicts that there are acclivitous brands in various parts of the world, which are entering the global world. Therefore, the number of product suppliers for these supermarkets have increase to a large number, which has introduced the challenge of supplier satisfaction and proper channelling. All suppliers prefer the supermarkets that can bankrupt their product maximum hype and sales. Therefore, if a supermarket is just focusing of customers satisfaction, then it testament soon lose the interest of new product suppliers, and they wi ll certainly go for other retail stores in the market (Experian, 2011). The change in the