It could be observed that there had been times in the process meat and dairy products industry the local supplies have not been adequate and the companies had to import the material to supply the current demand and high cost was absorbed by the company. Approximately21,803,000people are populating the Island, and its the worlds58thmost populous country. The banking sector is helping the small business and small-scale industries to grow. There are2 types of environmental factors: External: The economy In a bad economy, even a well-run business may not be able to survive. 2. (LBO 2005). Keells super online shopping portal and intranets, will increase sales and create awareness and product differentiation a. Motorola MC 3000 real- time inventory systems, Enterprise resource planning (SAP) Customer relationship management systems (CRM), Unique retail outfit, strategic location, Parent company backing, Well trained staff skill, corporate culture, Brand equity, Credit worthiness, and lending worthiness, Distribution channels. When the organizations figure and execute the techniques, the political field has an immense effect on organizations' guidelines and buyers and different organizations' spending force. A subsidiary of JKH, KFP PLC started its operations in 1983 and is responsible for the development of processed meat industry of the country. Available at: https://www.marketingtutor.net/pestle-analysis-of-banking-industry/ (Accessed 24 August 2022). The Sri Lankan political environment is facing some challenges like suppression of freedom of speech, political dominance struggle, and civil war. Palk Strait and the Gulf of Mannar separates Sri Lanka from the Indian Subcontinent. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Surely, it needs to work on political stability, and reforms. otesmatic. Hence Cost leader ship, and differentiation competitive strategy appears to be suited better, looking further at the SWOT Keells Super has a considerable threat for having and maintain a cost leader ship with supplier high bargaining power, commodity and raw material price increase, sustainability investment cost, and imitations coming into the market, having economies of scale is not so promising with rising energy prices, indicates best competitive strategy for keells Super would be Differentiation. *You can also browse our support articles here >. Choosing the vision, mission and the reason of existence for Resort Heritance. Synopsis Understand the political system in Sri Lanka through analysis of key figures in the country and governance indicators. Political legal forces that allocate power and provide constraining and protecting laws and regulations. Due to Dialog the Sri Lankan mobile industry has achieved new heights and has come at par with the developed world. The Keells Super is also equipped with the range of products from the convenient food to cold food, canned food, carbonated beverages, and cold confectionaries items, and is backed by the high level of aggressive advertising providing high level of product differentiation. It's one of the few industries who managed to scrape through. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. 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). Sri Lanka has realized the significance of science and technology. Environmental factors affecting Sri Lanka. The global assets the banking industry is dealing with are trillion dollars. Most of Keells supper product characteristics would put one or the other as a commodity since they have been in the market for the last 20 years and they are popular brands among the consumers. 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. Analyze the Resort Heritance external competitive environment to identify opportunities and threats. 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. Its top imports are refined petroleum, knitted fabric, cars, gold, and broadcasting equipment that mostly come from China, India, UAE, Singapore, and Malaysia (OEC, 2021). This boosted the illicit trade, Many products saw sharp sales decline due to the COVID-19 pandemic in 2020, followed by recovery in 2021. Namibia is relatively stable and its recently improved credit rating and potential land reforms bode well. The journey of KP began in 2001 as an independent . 2023 Euromonitor is privately owned & trademarked. This mindset of using less cash is helpful for the banking industry. Also with the value engineered state of the art production facilities which is backward integrated to the keells super, supermarket range. As banks act as loan providers and depositors, the rise and fall in the economy directly impact the banking industry. pestle analysis for supermarket industry in sri lanka. Online shopping rate is increasing rapidly, and a number of local e-commerce sites have emerged as well. According to an estimate,74.9%of the people are Sinhalese, other ethnic groups are Sri Lankan Tamil (11.2%), Sri Lankan Moors (9.2%), Indian Tamil (4.2%), and others (0.5%). Its worth noting it here that the country has a literacy rate of more than92%, and its highly admirable. The chi-square test was used to analyze the data. Heres the pestle analysis of Sri Lanka as follows; Sri Lanka follows the semi-presidential system of government and administration. Many of them are looking to use renewable energy sources. In this guide to analysis of the PESTEL, we saw how easy, effective, and efficient it is to work on a PESTEL analysis once we use EdrawMax templates. The financial organizations set repo and reverse repo rates to keep the money flow steady. The mode of traditional banking has changed, and the pace of getting faster. Major political instability and distressed government finances have blighted Sri Lanka, which is mostly unfree for economic freedom. Mitigate possible infrastructure failures by harvesting on early warning systems. When we ask consumers what they would do if the brand they are looking for is not available 65 percent said they will go to another shop says Dwight Watson, Ac Nielsen. However, the average life of men and women in the country is 72 and 78 years old. Therefore, several laws govern the operations of the banks. Click on 'Use Immediately' to import the template's contents to the EdrawMax canvas. Cargills Food City, Kings Supper City, Sentra, EH Super Pola, Sunup, Laughs, Crystal, Arpico super are some of the supermarket operators in Sri Lanka while Lanka Sathosa the state operated publics shop is also being revamped and develop to the Mega Stores concept. PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental factors. Public deposits their money in the bank to save or invest for the future. The first task we had was to do a PESTEL analysis of our home-country that we were in charge of. Academia.edu no longer supports Internet Explorer. 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. 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. M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. The banking institutions have decreased the use of harmful chemicals on machines and as cleaning agents. 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. In the case of Unilever, these external factors vary significantly, considering the international scope of the business. Read More Swot Analysis Of Wimpy 1862 Words | 8 Pages The increase in Nation building tax and impose of a high percentage of value added tax will increase unit cost of convenient foods. It allows a company to form an impression of the factors that might impact a new business or industry. The Conventional Oil Market size was valued at USD 2687.32 Billion in 2022 and the total Conventional Oil revenue is expected to grow at a CAGR of 3.8% from 2023 to 2029, reaching nearly USD 3493.71 Billion. It doesnt distinguish between local and foreign workers. For example, the US economy has laws like the Dodd-Frank act, Glass Steagall act, etcetera. However, it is difficult to find the exact number of employees working in the bank due to the vastness and vividity of the service. The banks collect customer information and their details. PESTEL analysis of the Banking Industry discusses how the political, economic, social, technological, environmental, and legal factors contribute to the banking business. If not, select "Manage Preferences" to learn more about managing your cookie preferences. (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). They are also interested in investing in schemes through banks or have insurance. However, some products continued to struggle due to, Alcoholic drinks registered positive growth in 2021 as sales rebounded from the severe declines recorded at the peak of the COVID-19 pandemic in 2020. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. PESTLE Analysis of Pizza Hut in Sri Lanka - Academia Analysis . 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. Keells super also has its line of consumer goods where the company sources all its low country and up country vegetable directly from the farmers. 2.0 INDUSTRY ANALYSIS: PESTEL FRAMEWORK Premium World Trade Organization Free trade International trade. 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. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Or learn more about our privacy policy and how we use and store your data. A largely rural-based economy is shifting towards a more urbanized one with focus on manufacturing and services (World Bank, 2021). It is a subsidiary of the Axiata Group Berhad. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. [online] notesmatic. Its going to analyze the macro-environmental factors impacting the worlds leading developing country. (AR CCS 2009 10) The recent budget proposal issued in parliament for 2011 includes fiscal reforms with tax relief for industries. JKH is also the first Sri Lankan company to obtain a listing abroad and is quoted in the Luxembourg stock exchange. The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. pestle analysis for supermarket industry in sri lanka March 14, 2023. Different countries have different laws, but they can affect the banking industry -, If you are using the offline version of EdrawMax, open the tool in your system. (AR CCS 2009 10), Bargaining power of Suppliers Bargaining power of Buyers. Bargaining power of the suppler appears to be high for keells supper since they are core industries and premium brands are specific about their supplier and quality of the item. If not buyers will not see the extra quality as worth the extra cost. On the year 1863 they started to import Sri lanka's first ice-making machine by this time they only had 22 employees. PESTLE is a business tool that used by companies to track and analyse the macro environment in which the company operate. The report also provides data for, The commodities country overview provides comprehensive data on production, consumption and price trends in key commodities markets. It also indicates some of the challenges that the country is facing currently, while addressing the pull factors that may entice foreign investors to give it a thought. It will help to encourage more customer engagement. It is a multi-party democracy; however, the main contest of political dominance is confined to a small number of parties. Tariffs, taxation, and business restrictions can impact the banking industry. The country has multiple democratic parties. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. (vitag.Init = window.vitag.Init || []).push(function () { viAPItag.display("vi_23289101301") }), Technological factors impacting Sri Lanka, Environmental factors impacting Sri Lanka. Posted on . The Essay Writing ExpertsUK Essay Experts. In addition to that, report contents the macro and microenvironment factor analysis as well Internal factors and SWOT analysis of spa Ceylon. Head to the Template section on the left and type 'PESTEL Analysis' to see all the pre-built PESTEL Analysis templates like Netflix PESTEL Analysis, Amazon PESTEL Analysis, IKEA PESTEL Analysis, and more. Pest analysis of textile industry GAURAV SHARMA 67k views Pestel of hilton Sheila Pechaycaren 24.5k views Tea industry in sri lanka Chamal Nandika 9.4k views Pestle analysis on malaysia Alisa Buravytska 72.8k views Srilankan Airlines Presentation SLIIT This tool is very useful which help in overall growth and development of organization after learning from the past mistake and working for future. Dialog Telekom is one of the largest companies listed under the Colombo Stock Exchange. The major languages are Sinhala, Tamil, and English, while Buddhism, Hinduism, Islam, and Christianity are the major religions. The country exports it toItaly,Germany, India,UK, and theUSA. The country needs a lot of reforms like equal treatment of minorities, human rights, communal harmony, and a stable political environment in order to compete with the world. If you need assistance with writing your essay, our professional essay writing service is here to help! According to a report from World Bank, the Sri Lankan economy is facing the challenge of transformation. The use of credit cards and debit cards is increasing in place of paper currency notes. 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. Sri Lanka has been exposed to different cultures throughout the history as evidenced from the fact that it was called Taprobane by ancient Greek geographers, Serendib by Arabs, and Ceylon by European mapmakers (Peiris, 2021). The banking sector and economy are tied to each other intricately. Approximately more than21million people are populating Sri Lanka. PESTLE Legal: - current home market legislation, future legislation - European/international legislation - regulatory bodies and processes - environmental regulations, employment law, consumer protection - industry-specific . Sri Lanka should accelerate its growth in the tech industry if the country wants to develop. Looking at the Porters approach to industry analysis it is clear that Keells Super competiveness in the industry is considerably high since three out of five f forces for being competitive are in favor of the company, being a Entry barrier, ability to face the substitute challenges, and having supplier bargaining power on a manageable levels increase the competiveness of the supermarket chain, further the rivalry among competitors being moderate, with suppliers bargaining power needs to be address as issues for competiveness of the firm. Palk Strait and the Gulf of Mannar separates Sri Lanka from the Indian Subcontinent. Make Pestel Analysis Diagram Now 1. According to an estimate, the computer literacy of Sri Lanka is roundabout30.1%, and its very low. However, multiple factors can impact the expansion of the banking industry. The country has a mixed legal system and its employment laws do not distinguish between foreign or local employees. 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. Sri Lankas top main exports are ladies undergarments and tea. Sri Lankas economy is facing some challenges and the countrys economy is facing some challenges. From changing the background to adding content, you can customize the diagram in any way you desire. Banking Industry is directly related to the growth of the economy. 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Buddhism, Hinduism, Islam, and business restrictions can impact the banking industry is with. Laws and regulations that, report contents the macro and microenvironment factor as! For 2011 includes fiscal reforms with tax relief for industries and civil war business restrictions can the! Lanka should accelerate its growth in the economy directly impact the expansion of the brand provided. Way you desire, etcetera pestle stands for political, economic, Social, Technological legal...