Competitive and Economic Sustainability- PDF

Research Paper

Table of Contents
Competitive and Economic Sustainability.......................................................................................1
REFRENCES...................................................................................................................................4

Competitive and Economic Sustainability
Since, a new start up is taking place where entrepreneur is going to sell products like
fresh bio fruits with the help of vending machines. Here, it is being found that both competitive
and economic sustainability factors plays a crucial role for a start up because they are the two
major factors based on which the businessman invests in the start up. There is peak period in
year between 2008 and 2009 when growth rate is 6.0% which much more than from its initial
stage which will benefit entrepreneur in their economic sustainability (Epstein, 2018).
A detailed study of the competitive market needs to be done as it is a new product line
being launched in the category of vending machines, also many changes or alterations may have
to be done to support its existence in the market. Both the competitive factors and economic
stability are further explained in detail as under:
Competitive Factors for present start-up: Vending business is expected to grow with
diverse range of products in the upcoming time specially in the field of high quality coffee,
beverages, snacks , bio fruits etc.
 Promotion of new products: In UK, with the growing technological advancement
vending machines are likely to be used at a increasing rate for product launches and
marketing in the coming time. In present context, the new start up is likely to be
launching a number of vending machines which will be supplying bio fruits in travel
locations and bars in near future. One additional feature present in them will be that they
will be socially activated.
 Strong growth in semi captive locations: Semi- captive locations are receiving a strong
growth rate for sales in the field of vending involving travel locations and shopping
malls. Vending machines located in convenience stores dealing in bio fruits are also
expected to receive a great amount of profits and also developing very quickly
(Schaltegger and Wagner, 2017).
 Competitive Landscape: Pelican Rouge Coffee Solutions is a strong leader in this
particular category because the company offers best techniques for innovative and
attractive vending machines. It has features like leading technology and efficiency in the
amount of energy used. So, the start up people can also use such techniques for new
innovations and attracting customers.
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 Technological Advancement: Vending operators are increasingly investing in
technology for example, growing trend for telemetry capability, enabling the checking
and evaluation of stock and vending figures from network machines all over UK. These
machines even provide the facility of cashless and contactless payments. The leading
companies launching the vending machines include Nayax, Counter Solutions,and Crane
Payment Solutions (Franzoni, 2015).
(Sources : The digital sectors - making the UK the best place to start and grow a digital
business, 2017)
As technological advancement compared in different consecutive years in UK it has been
seen that business industry of digital marketing sector is booming in all years like, in initial year
2011 growth of digital market is more than 5% as compare to other SME's ,in year 2013 rate is
slightly raised from more than 10% ,and if 2014 is measure growth rate of digital market jumped
from more than 25% which is very high as compare to competitive SME's .
Henceforth,the new start up should focus on the above mentioned factors for a steady
growth of the start up.
Economic Sustainability: Sustainable economic growth refers to the economic
development that helps to satisfy the needs of humans but in such a way that the natural
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Illustration 1: The digital sectors - making the UK the best place to start and grow a digital
business. 2017

resources and environment remains sustained for the future generations. It is the use of various
strategies that can be used for employing existing resources in an optimal manner. Hence, it
means that the people involved in the new start up should use the resources in such a way that it
does not affect the environmental, social and cultural aspects of the community.
(Sources: Economic Growth UK, 2017)
As per above data UK economic sustainability growth rate in year 2016 increase by 1.8%
as compared in year 2015. In year 2017 growth is slightly increase by 0.5%. There is highly
increase of economic growth in year 2008 and 2009 which is 6.0%.
The ways of maintaining economic sustainability are:
 Effective policies: The new start up should adopt effective policies, rules etc which help
in enhancing the economic growth. It includes efficient fiscal management and resource
allocation, appropriate regulatory systems. These help in making an economy sustainable
over time (Santoyo-Castelazo and Azapagic, 2014).
 Infrastructure: It is a key component which the new start up should keep in mind while
their establishment. Enterprises need adequate transportation systems from rural roads to
airports to easily access markets fir their goods and services. The availability of reliable
energy and communication technologies make enterprises more productive and
innovative. The developing countries can many a times face problems in these facilities
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Illustration 2: Economic Growth UK. 2017

arrangement and the absence of such basic needs is a chronic barrier that leads to poor
economic performance.
 Skilled Workforce: A skilled workforce is an asset of an organisation. It is an important
foundation of sustainable economic growth. Companies that invest a proper amount of
funds in human capital usually demonstrate the strongest growth rate. In developing
countries, many working age adults lack the literacy and numeracy required for the
employment , they lack the accurate skills for performing the work. Hence, it is necessary
for the new start up company to invest accurately for the growth of skilled workforce
(Santoyo-Castelazo and Azapagic, 2014).
(The UK Labour Market – EU Workers by Occupation Skill Level, 2014)
As per the above mentioned skilled data it has been seen that numbers of managers
directors and senior official is 26,15,600, number of professional and technical occupation is
37,71,600, and and if skilled trades occupation is measure their number is 28,97,200, number of
professional occupation workforce 49,73,200 is very large as compare to other skilled workforce.
These are the factors which help in maintaining overall economic stability to the new
start up and help in growth.
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Illustration 3: The UK Labour Market – EU Workers by
Occupation Skill Level

REFRENCES
Books and journals
Epstein, M.J., 2018. Making sustainability work: Best practices in managing and measuring
corporate social, environmental and economic impacts. Routledge.
Schaltegger, S. and Wagner, M., 2017. Managing the business case for sustainability: The
integration of social, environmental and economic performance. Routledge.
Franzoni, S., 2015. Measuring the sustainability performance of the tourism sector. Tourism
Management Perspectives, 16, pp.22-27.
Santoyo-Castelazo, E. and Azapagic, A., 2014. Sustainability assessment of energy systems:
integrating environmental, economic and social aspects. Journal of Cleaner
Production, 80, pp.119-138.
Santoyo-Castelazo, E. and Azapagic, A., 2014. Sustainability assessment of energy systems:
integrating environmental, economic and social aspects. Journal of Cleaner
Production, 80, pp.119-138.
Online
Economic Growth UK. 2017. [Online]. Available through:
<https://www.economicshelp.org/blog/5843/economics/economic-growth-stats-2/>.
The UK Labour Market – EU Workers by Occupation Skill Level. 2014. [Online]. Available
through: <https://www.migrationwatchuk.org/briefing-paper/364>.
The digital sectors - making the UK the best place to start and grow a digital business. 2017.
[Online]. Available through: <https://www.gov.uk/government/publications/uk-digital-
strategy/3-the-digital-sectors-making-the-uk-the-best-place-to-start-and-grow-a-digital-
business>.
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