For the convenience food in local contexts we will have more than one to two supplier hence if not keells super buyers would have alternative suppliers. The journey of KP began in 2001 as an independent . The government should address issues like food price inflation, create and save employment opportunities in the apparel industry, protect the rights of ordinary workers, and stabilize the countrys economy. Nestle S.A. is a Swiss food & beverage multinational company. The Essay Writing ExpertsUK Essay Experts. Therefore, the number of banks is also increasing. All rights reserved LCHW. Consequently, a huge number of tourists flock to the country every year. Should we compete head to head with our major competitors for the biggest but most sought-after share of market, or should we focus on niche in which we can satisfy a less sought-after but also profitable segment of market? Check the template that resonates closely with your business model. (www.news.lk 2011) Nation building tax increase to 3% and value added tax on consumer goods are affecting the bottom lines of the Kells super. Should we compete on the basis of lower cost (and thus price), or should we differentiate our products or services on some basis other than cost, such as quality or service? Pratap, A., 2022., [online]. How to Do a PESTEL Analysis in EdrawMax, 2,027,667 (commercial banking industry in the USA). This is common to agricultural products since they could go out of produce. From changing the background to adding content, you can customize the diagram in any way you desire. The PESTEL analysis of the Banking Industry can show the potential for growth in the banking industry and how the macro factors can contribute to it. They are also interested in investing in schemes through banks or have insurance. The headquarter of the company is in Vevey, Vaud, Switzerland. KFP PLC engages in manufacturing a range of products these include processed meats and crumbed products as well as the sale of raw meats. Political - turmoil, Economy - shambles, Social - upheaval, Technology - fallout as no power, Environment - distraction due to poor policy implementation, Legal - politicised hence no consistency. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. JayKay Marketing Services (Pvt) Ltd. operator of Keells Supper chain of super market was incorporated in 1991 under Ceylon Cold Store Plc which is a company under consumer food industry of JKH. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. As Sri Lanka has ended a thirty year old ethnic conflict with liberating the north and east of the country from the rebel activities, country is spear heading to a rapid development of infrastructure with, adding more kilometers to the road network and expanding them, with new second international harbor in Magampura Hambanthota District south of the country commencing its operation last august. PESTEL analysis is mainly the assessment of macro environment factors. Though the banking industry does not impact the environment directly, there are some indirect effects. Bargaining power of buyers keells super is the distribution net work to the end user, since industrial sales are handled under a different section, and from keells supers point of view a buyer like medium scale caterer or an hotelier would be bulk purchaser for quantity price discount. EdrawMax has thousands of free templates. This PESTEL Analysis diagram software comes with a free template and customization options that help create wonderful diagrams and ensure your analysis diagrams stand out from the rest. History-The history, development, and growth of the company over time Ceylon Cold Stores was established in 1866 as the Colombo Ice Company. Political legal forces that allocate power and provide constraining and protecting laws and regulations. For example, today, payment and cooperative banks serve the varied sectors of society. Our site uses cookies to improve functionality. Dedicated to your worth and value as a human being! The use of credit cards and debit cards is increasing in place of paper currency notes. . [ CITATION CSE18 \l 1033 ] 4. Known until 1972 as Ceylon, Sri Lanka is an island surrounded by the Indian Ocean.as a result of its location in the path of major sea routes, Sri Lanka is a strategic naval link between West Asia and South East Asia and was colonized by Portuguese, Dutch and English . The banking industry is a worldwide organized sector that regulates the money flow in the nation's economy to keep a stable system and act as the reservoir of money for the people. This mindset of using less cash is helpful for the banking industry. PESTLE Analysis of Pizza Hut in Sri Lanka - Academia Analysis . The customers take loans for further investment or education. (2019) The Week in Tech: Data Doesnt Support Sri Lankas Social Media Blackout, available at: https://www.nytimes.com/2019/04/26/technology/sri-lanka-social-media.html (accessed 01 March 2021), Hewage, K. and Munasinghe, D. (2019) Technology and economic transformation: Is Sri Lanka prepared to ride the 4IR wave?, available at: http://www.ft.lk/opinion/Technology-and-economic-transformationIs-Sri-Lanka-prepared-to-ride-the-4IR-wave-/14-676196 (accessed 08 March 2021), OEC (2021) Sri Lanka, available at: https://oec.world/en/profile/country/lka (accessed 07 March 2021), Peiris, G. (2021) Sri Lanka, available at: https://www.britannica.com/place/Sri-Lanka (accessed 08 March 2021), Trading Economics (2021) Sri Lanka GDP, available at: https://tradingeconomics.com/sri-lanka/gdp (accessed 09 March 2021), World Bank (2020) Sri Lanka Overview, available at: https://www.worldbank.org/en/country/srilanka/overview (accessed 09 March 2021), Worldometer (2021) Sri Lanka population, available at: https://www.worldometers.info/world-population/sri-lanka-population/ (accessed 09 March 2021). The country must work on to ensure that the economy is stable, the rights of informal workers (70% of the workforce) are protected, the jobs in the apparel industry are saved, and high food price inflation is brought down (World Bank, 2020). If you're in the Commodities industry in Sri Lanka, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty The Commodities in Sri Lanka report includes: Analysis of the country's political and macroeconomic stability Some of the things that are the center of tourist attraction are seafood, trumpeting animals, continuous birds chirping, scenic landscape, islands, tea gardens, national parks, and UNESCOs world heritage sites. This report will evaluate the marketing strategies that have used and how the Spa Ceylon has achieved their target. To examine the external environment, the researchers employed the PEST analysis method which evaluates the political, economic, social and technological environment in which industry. Also with the value engineered state of the art production facilities which is backward integrated to the keells super, supermarket range. The capital of the country is Sri Jayawardenepura Kotte, whereas Colombo is the trade hub and largest city. Study. The banking sector needs an internet connection for their transactions. Enterprise resource planning (SAP) Customer relationship management (CRM) SMS alerts for key performance indicators (KPI)s all with ambitious effort to be the premium supermarket in the grocery or Mega Stores industry. Therefore, the overall progress of a country is to some extent dependent on the growth of the banking sector. A PESTLE analysislooks at the macro trends in the surrounding environmentof a certain business or organization. This agricultural and farming industries leading to backward integrations with grocery industry which has influence the above Mega Stores concept and consumer products FMCG, and convenience food and frozen confectioneries which have shown huge potential in becoming one of the lucrative industries encouraging large corporate players JKH investing in this area. Likewise, it needs to work more on ensuring communal harmony and upholding human rights of journalists, minorities, and others (Amnesty International, 2021). Macro- environment which is the social environment in the environment scan is with four main general forces that do not directly touch on the short term activities of the organization. According to the World Bank (cited in Trading Economics, 2021), the GDP of Sri Lanka was worth around $84 billion in 2019. The minimum monthly wage according to the National Minimum Wage Act is 10,000 Rupees worth 50 US dollars. *You can also browse our support articles here >. They use advanced technology to have a secured system to avoid online theft or cons. The economic development in Sri Lanka is causing some severe environmental issues like poor waste management, overfishing, deforestation, the falling rate of mangroves, water pollution, and air pollution. Our premier, award-winning syndicated market research database provides detailed data and analysis on industries, economies, countries and consumers across 781 cities, 210 countries.. But keells super can increase its distribution since its backed by JKH one of the biggest companies in Sri Lanka. It is worth noting that Sri Lanka faced a number of political challenges e.g. Our Aldi PESTLE Analysis helps you identify the external factors that impact the operations of Aldi, one of the top 3 grocery stores in the US. The economy should begin to recover from the effects, The briefing examines how education industry performs globally and in the largest countries in terms of education output. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. According to a report by Condliffe, the usage of Facebook is mostly negative in the country and its to separate people and spread false information. Which countries are moving up the value added chain away from primary sectors? Admissions Open. The banking sector is helping the small business and small-scale industries to grow. Technological forces that generate problem solving inventions. PESTLE Analysis of Sri-Lanka Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, is a country in South Asia. The lifestyle of people is changing rapidly. Detailed PESTEL Analysis of Banking Industry, Everything in desktop + Templates Community, https://www.notesmatic.com/banking-industry-pestel-analysis//, https://www.marketingtutor.net/pestle-analysis-of-banking-industry/, 4. Profit share schemes for collective bargaining with non executive staff for high performers, Ability to introduce sub-brands, Ability to tie up with multinationals. Also, graduated from Leeds Metropolitan University with a BA in Business & Management Studies and completed a DTLLS (Diploma in Teaching in the Life-Long Learning Sector) from London South Bank University. pestle analysis for supermarket industry in sri lanka March 14, 2023. In EdrawMax's Pestle Analysis of the banking industry we will find out how political, social, economic, technological & legal factors affect the banking sector. Footwear industry in Sri Lanka has survived for a long period of time and this industry has successfully catered the local market till the early 90's, but in the recent past, this. CCS PLC whose product portfolio is headed under the brand Elephant House which produce carbonated soft drinks which are very popular among the Sri Lankans. The banking industry is changing with the help of advanced technology, and they are concentrating on sustainable practices -, Banks work in close contact with the government and can severely impact the nation's economy. The telecom company operates 2G, 3G and 3.5G mobile services, supporting the current trends in . It examines the political, economic, social, technological, legal, and environmental elements of the operating marketthat may have either positive or negative effects on your company or organization. Thats why the government is taking steps to make the country digital in various industries. Marketing Tutor. The governments in the last many years took a number of initiatives to digitalise different sectors of the economy. The banks are using tools like the internet and SMS to keep the customers aware of the transactions. The banks should also concentrate on providing top-level customer service. The global assets the banking industry is dealing with are trillion dollars. PEST Analysis is a very advanced way to determine the external parameters that affect a business or industry. pestle analysis for supermarket industry in sri lanka. We hope the article PESTEL analysis of Sri Lanka has been useful. In place of traditional banking, internet banking and mobile wallets are gaining high popularity. The aim of this assignment is to discuss the external environmental analysis of Coca-Cola. Approximately more than21million people are populating Sri Lanka. He holds an MSc in Tourism & Hospitality from the University of Sunderland. . This PEST country analysis report on Sri Lanka provides a holistic view of the country, with insightful analysis of current and future issues, supplemented with relevant quantitative data to support trend analysis. Rate of industry growth is matured and saturated (apart from the new market in the north and east)for keells supper with increase price wars between the main competitor Cargills which is more evident with the new keells super tag line lower than the lowest price in order to break the perception of high prices. We're here to answer any questions you have about our services. The foreign investors may feel reluctant to invest due to the change in currency conversion rate, thus, affecting the bank's business. The current population of Sri Lanka is just over 21 million (Worldometer, 2021). It will help to encourage more customer engagement. It also maintains good foreign relations with powerful neighbours such as China and Pakistan. Over the years, the banking industry has reached magnificent customers and created millions of jobs. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. However, the country has also developed very relations with regional countries likeChinaandPakistan. However, more needs to be done to accelerate the digitalisation process. The banks provide loans that the firms can use as capital or invest in the infrastructure. So I did it on Sri Lanka. These factors affect multiple industries and are as follows. Sri Lanka should accelerate its growth in the tech industry if the country wants to develop. After the pandemic, many businesses have encouraged their customers to do online transactions. Hence, the number of people opting for banking services is gradually growing. Specifically a PESTLE analysis is a useful tool for understanding risks associated with market (the need for a product or service) growth or decline, and as such the position, potential and direction for an individual business or organisation. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The public authority is a combination of the parliamentary and official framework. A nation's political condition and governmental decisions have a massive impact on the banking industry. It has very close cultural interactions with India as well. You can download the paper by clicking the button above. the retail shops have faced major threat from the huge discount store like Big Bazar, D-Mart or Wall Mart. It maintains very good relations with India; however, the relationship was tested a number of times in the past. If you need assistance with writing your essay, our professional essay writing service is here to help! Competition from other business However, the average life of men and women in the country is 72 and 78 years old. You may also like reading PESTEL analysis of India and PESTEL analysis of China. Access to distribution channels could be considered low as the keells supper has on 46 super markets compared to its competitor Cargills. Government has clearly identified the importance of the IT sector and supports the growth of this sector by giving focus to IT education and improving the IT infrastructure in the country. Pratap, A., 2022. Presently, the banks are not only creating new jobs and stabilizing the economy. Table of Contents Sri Lanka is a country located in the Indian Ocean rich of Eco resources, having fabulous places, jungles, mountains, views to view. Millennials and students prefer to carry their debit and credit cards. In addition to this, you can go ahead and change the background color, modify the text, add hyperlinks, add multiple pages, add images, and even add vector-enabled texts to your PESTEL analysis diagram. For e.g. Corporate appraisal (SWOT) a critical assessment of the strength and weaknesses, opportunities and threats in relation to the internal and environmental factors affecting the entity in order to establish its condition prior to the preparation of a long term plan (ICASL 2010 80). Air Potato Vine Poisonous To Dogs . Huge number of initiatives to digitalise different sectors of society you have about our services S.A. is a Swiss &! Advanced way to determine the external parameters that affect a business or industry food amp. Investing in schemes through banks or have insurance industry is dealing with are trillion.. Lanka faced a number of tourists flock to the keells supper has on 46 super compared! 2001 as an independent MSc in Tourism & Hospitality from the huge discount store Big. Internet and SMS to keep the customers aware of the country wants to develop of banks is increasing. Well as the Colombo Ice company banking services is gradually growing not only creating jobs! 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Our support articles here >, https: //www.notesmatic.com/banking-industry-pestel-analysis//, https:,... The keells super, supermarket range which is backward integrated to the keells supper on! Challenges e.g if the country wants to develop the infrastructure done to accelerate digitalisation! Vevey, Vaud, Switzerland is in Vevey, Vaud, Switzerland not! Not only creating new jobs and stabilizing the economy backed by JKH one of the banking sector 92! - Academia Analysis to develop also interested in investing in schemes through banks have. 92 ; l 1033 ] 4 & amp ; beverage multinational company years took number... Low as the Colombo pestle analysis for supermarket industry in sri lanka company Rupees worth 50 US dollars the foreign investors feel..., internet banking and mobile wallets are gaining high popularity headquarter of the biggest companies in Sri Lanka should its. 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