In some countries, the government controls the banking sector to ensure a smooth monetary flow in the economy. Increasing inflation rates due cash coming into the country curtails the consumer spending power. Go to 'Marketing' diagrams under Business diagram type and click on 'PEST Analysis.'. The supermarket industry in Sri Lanka is set out for an explosive growth in the recent years this is with the western lifestyle of modern Sri Lankans where convenience is a key benefit sought after. All work is written to order. Keells supper concentrate mainly in selling the products produce by the parent companies hence the immediate supplier for them are KFP PLC and CCS PLC, and their suppliers are farmers who will find forward integration difficult. Curious about how we partner with you to help you solve your complex modern-day business problem? The banking industry is classified into various divisions and sectors, including investment banking, retail, co-operative banking, and rural banking; all come under the umbrella term 'banking industry.' The country is drawing a lot of foreign investments every year. PESTEL Analysis diagram requires you to add Political, Economic, Sociological, Technological, Legal, and Environmental content so that the reader will understand what influences an organization. About Us. In fact, Sri Lanka is one of the biggest receivers of Chinese FDI. If we look at the drivers for the evolution of modern supply chains, or Modern Trade they have been persistent in increase demand for value added consumer products, convenience food, beverage, and frozen confectioneries. CCS PLS is also the house for production of one of the countrys leading brand of ice cream under frozen confectioneries. 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. With this the buyers bargaining power to push prices down for Keells super would be low they sell FMCG products and these have very low margins and high brand equity which makes buyers willing to pay. We're here to answer any questions you have about our services. A largely rural-based economy is shifting towards a more urbanized one with focus on manufacturing and services (World Bank, 2021). If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. Keells SuperKeells Super is the distribution platform of consumer food industries registered under JKH. A new location with a strategic importance for the company has been open with the north and east being liberated. Pestle analysis of Sri Lanka. (KS 2010), (Figure 02) (JKH Sustainability Report 2009, 2010). The first task we had was to do a PESTEL analysis of our home-country that we were in charge of. Though the banking industry does not impact the environment directly, there are some indirect effects. Scope of Sri Lanka - PESTEL Analysis Report. If not buyers will not see the extra quality as worth the extra cost. Some factors will be more important to different types of businesses, and a PESTLE analysis will help identity risk factors for the SWOT analysis. Keells Food Product PLC is the market leader for processed meat and the company is boasting of a 70% of the market share in the country (Approximately). These strategies are called generic because they can be pursued by any type or size of business firm, even by not for- profit organization. The banking industry is focusing on mobile banking and mobile wallets, which has decreased the rate of people using traditional transaction methods. . Other minority religions are Hinduism (12.6%), Islam (9.7%), and Christianity (7.4%). You can start customizing the PESTEL analysis diagram as per your requirements. Together they have received prestigious awards such as prestigious industrial Excellence award Gold award for manufacturing large category. It was known as Ceylon until 1972. Technological advances have helped the bank to provide customers with a safe-and-secured service. PESTLE Analysis of Sri-Lanka Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, is a country in South Asia. Likewise, the computer literacy rate needs improvement as it was only 27.5% in 2019 (Hewage and Munasinghe, 2019). Sorry, preview is currently unavailable. Heres the pestle analysis of Sri Lanka as follows; Sri Lanka follows the semi-presidential system of government and administration. The rate of financial literacy is going up. Error: Something went wrong, try again in a few minutes. The banking industry is one of the sectors serving a high number of customers. The use of credit cards and debit cards is increasing in place of paper currency notes. These are Political, Economical, Sociocultural, Political Legal which is commonly known as PEST analysis. New sustainability regulations includes a band on a disposable packaging hence this make the keells super collect the returned bottle and containers which would be expensive operation. Lead-in The banking industry is one of the dominant parts of the country's economy. [ CITATION CSE18 \l 1033 ] 4. Keells supper is active in high information analyzing with constantly monitoring its key performance indicators, also its production line up consider optimization and cost reduction by increase productivity and minimizing waist reducing and adjusting and setting off the fixed cost as possible. Amnesty International (2021) Sri Lanka Human rights, available at: https://www.amnestyusa.org/countries/sri-lanka/ (accessed 08 March 2021), BBC (2019) Sri Lanka country profile, available at: https://www.bbc.co.uk/news/world-south-asia-11999611 (accessed 01 March 2021), Condiliffe, J. In business strategy the process of scanning the environment of a business with three main types of logical environments which includes Natural environment, Social environment, and Task environment with Macro- forces, and Micro-forces, is required for strategy formulation. The country has a mixed legal system and its employment laws do not distinguish between foreign or local employees. Today, well discuss the pestle analysis of Sri Lanka. It doesnt distinguish between local and foreign workers. Likewise, it needs to work more on ensuring communal harmony and upholding human rights of journalists, minorities, and others (Amnesty International, 2021). The Total Pestle Analysis of Sri Lanka. After a careful study of the pestle analysis of Sri Lanka, weve concluded that Sri Lanka is indeed the worlds developing country. Switching cost of supplier would not be low since the required quality levels are high by the producer and the consumer food industry demand strict qualities from their suppliers hence if this affect the producer it will affect the supply chain integrated to it .Keells supper forte or the product portfolio involves in process food meaning it would be some form of conversion of the original hence substituting the base material would be difficult. Sri Lanka has membership and alliances with the worlds top institutions like Asian Development Bank, World Bank, IMF, SAARC, the Colombo Plan, the Commonwealth of Nations, Non-Aligned Movement, G77, and the UN. The hospitality industry needs to worry about . It is a multi-party democracy; however, the main contest of political dominance is confined to a small number of parties. The customers take loans for further investment or education. However recent indicators show a sharp decline in consumer spending power due to constant inflations prevailing company will have to watch out for these. pestle analysis for supermarket industry in sri lanka Leave Your Reply peggy lee last performance. A sample of 140 agents who left the company during 2014 and 2015 was used to collect data through a structured questionnaire from three leading insurance companies in Sri Lanka. Nonetheless, the company must focus on maximizing business performance. pestle analysis for supermarket industry in sri lanka. Sri Lankan English speaking software developers are sourced by the west creating difficulty in retaining skilled developers. PEST Analysis is a very advanced way to determine the external parameters that affect a business or industry. Thus, the number of people choosing to take banking services is also increasing, ensuring industry growth. It gives people the confidence to deposit their money or take loans from the bank. Competition from other business For example, today, payment and cooperative banks serve the varied sectors of society. From changing the background to adding content, you can customize the diagram in any way you desire. If you purchase a report that isupdated in the next 60 days, we will send you thenew edition and data extraction Free! . Threat of New Entrants will add new capacity also the new entry would have a desire to gain market share and substantial resources. The companys retail outlets have the opportunity for expansion. After technological advancement, the model of banking is changing. Although the state is trying to make the investment climate more attractive, economic mishandling is adversely affecting output, which is pressurised by hyperinflation. The Sri Lankan economy is going through a massive transition. The laws see that NPA does not have an enormous effect on the banking industry. The mode of traditional banking has changed, and the pace of getting faster. On the other hand new sources of fresh supply and live stocks to the supply chain of Keells Super. The Essay Writing ExpertsUK Essay Experts. Also the PESTLE analysis helps the company to achieve its objectives by identifying the trends and factors which are affecting Coca-Cola operations on International Scale. By 2020, the industry may see global sales nearing $30 trillion. 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. Social factors impact the banking industry as banking services involve public dealings. However, this transformation is helping the country to attract foreign investors. 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