Understanding the Business and Economic Environment - Individual Coursework

Understanding the
business and economic
environment

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Industry Analysis........................................................................................................................3
Structure of the chosen industry..................................................................................................4
STEEPLE Analysis.....................................................................................................................4
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business environment defined as the external influence, circumstances that are not
control by an organisation and this is having major impact that how they are being influencing
the particular market. There are different types of companies which are operating in the market
and that are company, non-profit organisation and the voluntary firms that are basically operating
their business with the consideration of generating higher revenue in the target marketplace.
They are being working with the sole aim of having huge profitability and revenue so that they
can rightly serve the marketplace. For this respective report, Tesco is the chosen company which
is operating in the market, It is the public limited company which is operating in retail
industry(Tesco PLC, 2020). Moreover, This report will cover the analysis of the chosen industry
and also describe the structure for the same so overall functionality of the business can be
determined. Furthermore, STEEPLE Analysis is being conducted by analysing their social,
technological, economical, ethical, political, legal and ethical factor and in this determinants,
also analyse the competitiveness in the target marketplace.
MAIN BODY
Industry Analysis
This is the method of understand the overall functionality, operations, position of the
company in the specific marketplace. This is the major consideration in which the particular
market is being operated with the effective planning in the given business. Retail industry is the
chosen industry from the UK standard industrial classification(SIC 2007). Moreover, There are
various firms which are making operating in the grocery market and also offer their products and
services by supermarket, online trading and conventional stores. In UK, there are various
companies which are operating their business in the market and this is leading to have the huge
growth and profitability for say i.e., Sainsbury's, Asda which are suffering which is leading to
reduce the entire sale of the company & it is being evaluated and managed by the firm so that
they can sustain in the market in the large market.