Global Business Environment: Consumer Confidence and Market Structure

Global Business
Environment

Contents
Coursework 2a)................................................................................................................................1
Coursework 2b) ...............................................................................................................................4
REFERENCES................................................................................................................................6

Coursework 2a)
Consumer confidence is an economic indicator. It measures how confident consumers are
about the overall state of the economy. The confidence of consumers impacts on their economic
decisions like their spending activity. This is important for business concerns as it helps to state
economy expansion and their performance in environment. The environment is changing where
it became difficult for organizations to remain competitive as it needs to introduce new products
and services for increasing customer confidence (Morrison, 2020). If there is weak consumer
confidence that means decline in consumer spending and manufactures will decrease their
inventories. The economy of any country affected by the customer base and their spendings. For
example, if there is high customer base then economy of specific country will increase and vice
versa. There is need to have proper information about business sector and people needs that can
help to stablish the business properly. The different business sectors such as investors,
manufacturers, retailers, government, and banks uses several consumer assessment to plan their
actions. As Covid-19 occurred in whole world where it became challenging for organizations to
operate their business continuously and remains active. UK is a sovereign country in north-
western Europe (Tuleja, 2021). In this country, many businesses established for the purpose of
filling customer needs and improving economy.
Illustration 1: Statistics of business proper 2021