INDUSTRY AND EXTERNAL ENVIRONMENT ANALYSIS Assignment

INDUSTRY AND EXTERNAL ENVIRONMENT ANALYSIS - Assignment Example Competitive pricing strategy is an example of the effect of intensive industry rivalry. UK retail industry has been selected for this assignment. UK retail industry is quite complex and saturated. The major players within this industry are trying to back or support the purchasing power of people in order to achieve potential competitive advantages and significant market share. Hike in fuel price, troubled housing and mortgage market influenced the retail industry in UK to change the overall business strategy. The organizations within the industry are trying to provide discounted budget and value-added commodities to the people. Several interesting aspects behind the topic motivated to conduct a research work (Ellis-Chadwick, Doherty and Hart, 2002, pp.9-11). This assignment will reveal some interesting facts that will enhance the knowledge about global business environment and impact of external environment factors on it. ... The leading organizations within the similar industry are trying to capitalize on the potential competitive advantages that have been developed due to several favorable external environment factors. It is known to all that globalization, implementation of advanced technology, favorable economic and political business environment are the major growth drivers of several global industries. The assignment will try to reveal the impact of several external environment factors on the business performance of a specific industry. It will discuss about the current profitability situation of the industry and the major factors behind this profitability. Moreover, the assignment will try to discuss about the impact of these factors in future business perspective of that particular industry. UK retail industry has been selected for this assignment. Several leading organizations, such as Tesco, ASDA, Morrison’s and Sainsbury’s are competing with each other within this potential growin g industry. These organizations are implementing several competitive strategies in order to secure their existing market share within the UK retail industry (Lewis and Thomas, 1990, p.22). It is true that several industrial and external environmental factors are controlling the business growth of this industry. Political situation, economic growth, technological revolution and social trend are deciding the growth of current UK retail industry. Several theories have been applied in order to meet the objective of the study. The study will analyze the impact of these factors on the business performance of Tesco. In addition, the study will design the future effect of these factors on the organization. Methodology A proper and effective research is