EMTH6013 Spring 2019: Emerging Themes Impact on Business Report

This report examines the impact of emerging themes, specifically digital layouts, on the retail sector. It begins with an overview of digital layouts and their application in retail stores, followed by an analysis of the UK retail industry and its trends. The report then applies the "Four Pillars of Emerging Themes" framework to assess the societal, organizational, technological, and market suitability for digital layout adoption. It analyzes the implications of this technology on the future of retail and offers recommendations for retail firms to leverage emerging technologies and formulate strategies based on predicted future trends to achieve growth. The report highlights the importance of e-commerce and technological advancements in enhancing customer experience and operational efficiency. The analysis suggests that the retail industry is well-positioned to adopt digital layouts, which can reduce operational costs and improve service quality, ultimately leading to increased profitability. The report concludes with recommendations for retail firms to embrace emerging technologies and strategize for future trends.

Running head: EMERGING THEMES AND THEIR IMPACT ON BUSINESS
Emerging Themes and their impact on Business
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1EMERGING THEMES AND THEIR IMPACT ON BUSINESS
EXECUTIVE SUMMARY
The purpose of this report is to analyze the emerging technology of digital layouts and the
impact that it would have on the retail sector. The paper begins by offering an overview of
the technology and also the manner in which it will be used in the retail stores. The report
next offers an overview of the retail sector and the different trends which are being seen
within the concerned industry. The report next undertakes an analysis of the concerned
technology on the basis of the “Four Pillars of Emerging Themes” and finds that the societal,
organizational workplace, technological landscape and the retail industry of UK are suitable
enough to support the usage of this technology by the retail firms. The report next undertakes
an analysis of the likely trends which are going to affect the retail and also the implications of
the usage if the technology under discussion within the retail sector of UK. Lastly, the report
concludes by offering two recommendations, namely, the usage of emerging technologies
and also formulating strategies on the basis of predicted future trends, which the retail firms
can use to attain a higher level of growth.

2EMERGING THEMES AND THEIR IMPACT ON BUSINESS
Table of Contents
Introduction................................................................................................................................3
PART- A....................................................................................................................................3
Use of digital layouts in the retail stores................................................................................3
Overview of the Retail Industry.............................................................................................4
Four Pillars of Emerging Themes..........................................................................................5
Emerging changes in Society.............................................................................................5
Emerging Work Environments..........................................................................................6
Emerging Technologies.....................................................................................................6
Emerging Industries and Markets......................................................................................7
PART-B......................................................................................................................................8
Emerging themes relevant to the retail industry....................................................................8
Implications of the identified theme on the future of retail stores.........................................9
Recommendations................................................................................................................10
Conclusion................................................................................................................................11
References................................................................................................................................13

3EMERGING THEMES AND THEIR IMPACT ON BUSINESS
Introduction
Emerging themes are the new business trends or processes which significantly impact
the business operations or the business activities of the business firms in a particular industry.
More importantly, the different kinds of emerging trends offer diverse business opportunities
to the business firms that they can capitalize on through the effective usage of these emerging
trends. The process of globalization by facilitating trade and commerce among the different
nations had brought about a significant amount of change within the contemporary business.
Atkin, Faber and Gonzalez-Navarro (2018) are of the viewpoint that the extensive usage of
different kinds of innovative technologies had not only improved the business prospects of
different business firms but at the same time increased the level of business competition faced
by them. The net result of this is that the different business firms are increasingly resorting to
the usage of different kinds of emerging themes or technologies to give their firm an upper
hand over the other firms or corporate houses (Brotchie et al. 2017). In this regard, the
comment of Richard Branson that he made in one of his blogs is important to note “A
company that stands still will soon be forgotten”.
Pandey and Chawla (2016) have stated that there are various factors that the
organizations need to take into effective consideration for the usage of such emerging themes
like the external business market, the key competencies or the resources of their own
organization and others. In this regard, the ‘Four Pillars of Emerging Themes’ is an important
framework which offers insightful information to the organizations regarding the suitability
as well as the effectiveness of the different emerging themes that they are about to use
(Pantano et al. 2017). This report will undertake an analysis of the emerging themes and the
likely impact that they are going to have on the future of business in the particular light of the
emerging theme of digital layouts which are being used by some of the retail stores presently.

4EMERGING THEMES AND THEIR IMPACT ON BUSINESS
PART- A
Use of digital layouts in the retail stores
According to Kurnia et al. (2015), one of the most important challenges that the
customers face during shopping is the fact that they have to manually go through the entire
store to look for the items or products that they want to purchase. It is pertinent to note that
this not only takes a valuable amount of their time but at the same time their energy as well.
This is perhaps one of the major reasons why many customers are resorting to the usage of e-
commerce wherein they can select the products or services that they want to purchase by
scrolling through the digital layouts given by the concerned shopping websites (Atkin, Faber
and Gonzalez-Navarro 2018). Thus, it can be said that the retail stores by embracing this
technology, that is, the usage of digital layouts in their stores to ease the shopping experience
of the customers and also to reduce their effort to further enhance the prospects of their
business. More importantly, this is likely to help the retail stores to reduce their operational
cost through the reduction in the human labor that is needed by them since the customers
would be able to purchase products or services by scrolling through the digital layouts and
make appropriate payments for the same. Furthermore, these stores can also use the
technology of automation to provide the products or services that the customers had purchase.
This is not only likely to improve the shopping experience of the customers but at the same
time will help the retail stores to earn a higher amount of profit through the reduction in the
operational cost while increasing the quality as well as effectiveness of the services that is
offered to the customers.
Overview of the Retail Industry
The retail industry of UK over the years had come to form the backbone of the
concerned nation and contributes a significant amount of capital towards the national
economy of the nation. As per Ibisworld.co.uk (2019), the net revenue generated by the

5EMERGING THEMES AND THEIR IMPACT ON BUSINESS
concerned industry for the year 2018 was £1,038.7 billion at an impressive growth rate of
more than 2.4% per year which accounts for more than 15.9% of the entire GDP of the
nation. In addition to this, it is seen that the concerned industry offers employment services to
more than 4,409,598 and thereby had contributed in a significant manner towards the
reduction of the unemployment rate of the nation (Ibisworld.co.uk 2019). Some of the most
important retail firms of the nation under discussion here are Tesco, John Lewis, Asda, Aldi,
Morrissons, Sainsbury and others (Ibisworld.co.uk 2019). Ramanathan et al. (2017) are of the
viewpoint that one of the most important trends which is being seen within the retail industry
of the concerned is the fact that the customers in the present times have shown increasing
propensity towards the e-retail model of business. Moreover, the extensive usage of different
kinds of emerging technologies like digital layouts, internet of things, automation and others
have positively affected the industry and also significantly improved the shopping experience
of the customers as well (Pantano 2015).
Four Pillars of Emerging Themes
Foroudi et al. (2018) have articulated the viewpoint that the different kinds of
emerging themes are presently dominating the retail industry however for the effective
utilization of these emerging themes the firms are required to take into account the societal,
environmental, technological and industry or market factors. An analysis of the emerging
theme of digital layouts on the basis of the “Four Pillars of Emerging Themes” would reveal
the following information-
Emerging changes in Society
As opined by Jones and Livingstone (2015), the contemporary society of UK is
significantly different from that of the earlier times and this change had not only been
brought about by the educational growth, changes in the outlook or the perception of the
people and others but also by the technological advancements that the concerned nation had

6EMERGING THEMES AND THEIR IMPACT ON BUSINESS
experienced in the last few years. In this regard, it needs to be said that the people of the
nation are increasingly resorting to the usage of different kinds of technologies and as a
matter of fact it is seen that more than 95.7% of the people of UK have access to internet and
use it on a regular basis (Faulds et al. 2018). The popularity gained by the e-commerce
business model and also the appreciation of the different innovative technologies used by the
retails firms for offering products or services by the customers clearly indicates that the
society of UK and its citizens are ready to for the use of digital layouts in the retail stores of
the nation.
Emerging Work Environments
Kehoe and Mateer (2015) have articulated the viewpoint that the workplaces of the
contemporary times have become increasingly dependent on different kinds of technologies
and as a matter of fact the extensive usage of these technologies had greatly simplified the
work of these firms. More importantly, it is seen that the usage of the same had not only
reduced the human effort which is required for the completion of the work of these firms but
at the same time improved the quality of work performed by these firms as well (Cherrett et
al. 2015). In addition to these, it is seen that the firms are increasingly fostering a continuous
learning environment and also developing capabilities of the firm so as to support the
different kinds of innovative technologies that they are using. Furthermore, the employees are
also showing increasing aptitude towards the different kinds of technologies because of the
benefits or advantages that they offer to them for the completion of their job (Slade et al.
2015). On the basis of this, it can be said that the workplaces of the retail firms are ready to
embrace the usage of the digital layout screens since it will not only reduce the effort which
is being required on their part of the employees but also enhance the efficiency of the firm as
well.

7EMERGING THEMES AND THEIR IMPACT ON BUSINESS
Emerging Technologies
Kurnia et al. (2015) are of the viewpoint that the organizational or the business
prospects of any firm depends greatly on the kind of technologies that it is using and also the
effectiveness with which it is being able to integrate as well as use these emerging
technologies. This in turn depends greatly on the kind of resources or capabilities or the
employees the firm has and also on the kind of workplace culture which predominates in the
concerned firm. In the particular context of the UK retail industry it is seen that the majority
of the firms are presently using the omni-channel business model through which they offer
both online and offline services to the customers (Ibisworld.co.uk 2019). More importantly, it
is seen that the firm are increasingly try to explore new kinds of innovative technologies
through the usage of which they can not only enhance the shopping experience of the
customers but at the same time improve their service delivery system as well (Weber and
Schaper-Rinkel 2017). This is important from the perspective of the firms because of the fact
that it is directly connected to their profitability and long-term growth as well. On the basis of
this, it can be said that the usage of the emerging technology of digital layouts in the stores
will serve as a boon for the firms and thereby enable them to earn a higher amount of
profitability.
Emerging Industries and Markets
The effective usage of the technology of digital layoffs by the retail firms would be in
synchronicity with the requirements of the e-commerce business models that they are
presently following. As a matter of fact, it is seen that in comparison to the 2.4% annual
growth rate shown by the retail industry, the growth rate of the e-retail industry in the UK is
more than 16.1% which clearly states the present need of the retail industry (Ibisworld.co.uk
2019). More importantly, in the present times it is seen that the customers have shown
increasing propensity towards retail firms like Asda, Aldi and others which are taking the

8EMERGING THEMES AND THEIR IMPACT ON BUSINESS
help of different kinds of technologies to offer quality services to the customers
(Ibisworld.co.uk 2019). Thus, on the basis of these aspects, it can be said that the concerned
technology would be in synchronicity with the present demands of the retail industry and the
market that it serves.
PART-B
Emerging themes relevant to the retail industry
The business firms rather than formulating strategies or measures on the basis of the
requirements of their existing business environment or the demands of the industry need to
take the help of help of the strategies which will position them to attain a higher level of
future growth (Priporas, Stylos and Fotiadis 2017). More importantly, they also need to take
into consideration the uncertainties and future demand for the products or services that they
are offering to the customers. An analysis of the present retail industry on the basis of these
facts would reveal insightful information regarding the same. For example, the retail industry
over the years had primarily depended on different kinds of strategies like product
differentiation, cost leadership and others to satisfy the needs of the customers and thereby to
earn a higher amount of profitability (Faulds et al. 2018). However, it was seen that although
the use of these strategies satisfied the basic requirements of the customers yet at the same
time it was seen that they failed to fulfil the needs of the customers. This is perhaps one of the
major reasons why the different retail firms of the UK are increasingly resorting to the usage
of different kinds of innovative technologies for the effective fulfilment of the needs or the
demands of the customers. In this regard, it needs to be said that the failure of the firm Tesco
to use the different emerging technologies not only reduced the customer base of the
concerned firm but at the same time adversely affected the profitability of the firm between
the years 2015-2018 (Ibisworld.co.uk 2019).

9EMERGING THEMES AND THEIR IMPACT ON BUSINESS
Cao and Li (2015) are of the viewpoint that one of the most important difficulties that
the different customers face while shopping in the retail stores can be attributed to the fact
that they had to manually look for the products that they want to buy in the stores by
themselves. This not only takes a significant amount of their time but at the same time is
taxing for them physically as well. More importantly, this is perhaps one of the major factors
which had made the e-retail model of business extremely popular among the different
customers because of the fact that they do not have to physically visit the stores or browse
through the entire stores to locate the products that they want to buy. For example, it is seen
that over the e-retail websites or the apps of the different retail firms, the customers can
simply type the name of the products or services that they want or just scroll through the
product list to get the same (Taylor 2016). This is one of the major reasons why the customer
friendly apps of the retail stores Asda, Aldi and others have been much appreciated by the
customers in the present times and thereby have contributed in an effective manner towards
the growth of these firms as well (Ibisworld.co.uk 2019). This as a matter of fact had much
simplified the work of the customers and thereby improved their shopping experience as well.
However, at the same time it is seen that this had taken a negative toll on the profitability or
the volume of sales of the physical retail stores. Thus, it is likely that through the usage of
digital layouts the firms would be able to resolve this issue faced by the customers and
thereby would be able to attract a larger number of customers to their stores. This is
important from the perspective of the physical or offline retail stores since it will enable them
to improve their service delivery system and thereby earn a higher amount of profitability
(Bamiatzi et al. 2016). Thus, it can be said that if utilised in an effective manner this will
enable the offline retail stores to compete on par with the different e-retail stores and thereby
would contribute in a significant manner to reinvigorate the retail industry itself.

10EMERGING THEMES AND THEIR IMPACT ON BUSINESS
Implications of the identified theme on the future of retail stores
The effective usage of the emerging technology under discussion here is likely to
have wider implications for the retail industry of UK in the coming years. For example, this is
likely to significantly change the labour requirements of the concerned industry and rather
than looking for physical labourers who would perform the physical labour of the firms, the
firms would be looking for specialised professionals who would be able to handle the
innovative technology (Slade et al. 2015). Secondly, this is likely to significantly change the
shopping experience of the customers as well. For example, the customers would be able to
significantly reduce the amount of time that they had to spend on shopping and the physical
effort which is required in the same would also be lessened (Taylor 2016). Thirdly, as already
mentioned the effective usage of this technology would offer an opportunity to the offline
retail firms to compete on par with the e-retail firms, which are presently dominating the
retail industry of the United Kingdom.
The usage of the emerging theme under discussion here offers various opportunities to
the retail stores while presenting some limitations as well. For example, the usage of this
technology is likely to infuse a new lease of life into the decline offline retail trade of the UK
by offering it the opportunity to compete on an equal level with the e-retail firms. More
importantly, the firms have the opportunity to earn a higher amount of profitability by
improving the shopping experience of the customers (Weber and Schaper-Rinkel 2017). This
in turn would enable the firms to earn the loyalty as well as the satisfaction of the customers
which in turn would help them to attain long-term growth (Jones and Livingstone 2015).
Some of the most important limitations of the usage of this emerging technology are this
would significantly affect the labour industry of UK since the retail sector is one of the
largest recruiters in UK, some of the customers are likely to face difficulties using this
technology and others (Faulds et al. 2018).

11EMERGING THEMES AND THEIR IMPACT ON BUSINESS
Recommendations
Some of the most important measures that the retail firms can follow to ensure
continued existence and competitiveness in the retail sector are listed below-
 Effective usage of emerging technologies: The retail firms in order to attain a
sustained growth and also to satisfy the needs or the requirements of the different
customers need to take the help of different kinds of emerging technologies. The
effective usage of these technologies would not only enable the firms to improve the
shopping experiences of the customers but at the same time allow them to earn their
satisfaction and thereby loyalty.
 Formulating business strategies keeping into perspective future market
demands: One of the most important measures that the different firms can follow to
attain a higher level of growth is to formulate the kind of strategies which will be
based on the predictions regarding the future trends or demands of the concerned
industry. This can be explained on the basis of the fact that the landscape of the
business world is a constantly changing one and the strategies or the business
approaches which were fruitful a decade ago are completely obsolete now. Thus, it is
likely that by following this approach for strategy formulation the retail firms would
not only be able to attain long-term growth but also maintain their competitiveness
within the industry as well.
Conclusion
To conclude, different kinds of emerging technologies and themes have significantly
changed the nature of the contemporary business. More importantly, it is seen that the
organisational or business success of a firm depends greatly on the kind of technologies that
they are using within the framework of their business activities. However, at the same time it