Elephant House range of ice creams, chocks, cones, pops together with their other produce are popular brands both in Sri Lanka and in Maldives. The use of credit cards and debit cards is increasing in place of paper currency notes. The National Minimum Wage Act, No. New budget proposal indicates tax relief for year at hand. Table of Contents Sri Lanka is a country located in the Indian Ocean rich of Eco resources, having fabulous places, jungles, mountains, views to view. If you need assistance with writing your essay, our professional essay writing service is here to help! Enter the email address you signed up with and we'll email you a reset link. (JKH PLC N A). 1. 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). PESTLE is a business tool that used by companies to track and analyse the macro environment in which the company operate. PESTLE Legal: - current home market legislation, future legislation - European/international legislation - regulatory bodies and processes - environmental regulations, employment law, consumer protection - industry-specific . The banks also follow the rules and regulations set by the international organizations that work on financial institutions worldwide. Henri Nestle established the brand in 1866 by merging with Anglo-Swiss baby Milk Company. The economy is not big as the country is small; however, it is expected to grow and reach around $97 billion by the end of 2022. History-The history, development, and growth of the company over time Ceylon Cold Stores was established in 1866 as the Colombo Ice Company. Instead of keeping money at home, many people are choosing banking services to save it. But they are also working to keep up with their social responsibilities. These strategies are called generic because they can be pursued by any type or size of business firm, even by not for- profit organization. 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. In some countries, the government controls the banking sector to ensure a smooth monetary flow in the economy. The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. In addition to that, report contents the macro and microenvironment factor analysis as well Internal factors and SWOT analysis of spa Ceylon. The banking institutions have decreased the use of harmful chemicals on machines and as cleaning agents. Imitations threats, Parity differences are affecting the raw materials imported to the company. The Essay Writing ExpertsUK Essay Experts. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Buddhism is the majority religion, and roundabout70.2%of the people believe in Buddhism. In fact, Sri Lanka has received the highest investment from China. EGB the natural ginger beer, Cream soda, Orange crush, Orange barley, Lemonade, Necto, Soda, Apple soda, Dry Ginger, Ale Tonic, Caffeine based wild elephant (energy drink) and blue fountain bottled drink water under the name of Elephant house. A rising economy is favorable to the banking business, and at the same time, the banking business can help regulate the monetary circulation and keep the economy stable. These factors affect multiple industries and are as follows. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. 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. 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. The banks are willing to create a customer-friendly environment, and therefore, they target to offer service anywhere and anytime. Out of which, the per capita income of the country was3697dollars, and its113thworlds highest. Our consulting team answers your commercial questions with data and insights generated by our research experts, industry knowledge and 1,200 on-the-ground analysts in 100 developed, emerging and frontier markets. Small organizations use payment methods like credits and debits, which is helpful for the banking industry. Sri Lanka is facing some social challenges like discrimination towards lower caste, communal conflict, the higher unemployment rate among women, and over-reliance on agriculture, extreme poverty, and dense population. - ppt download Free photo gallery. Banking Industry is directly related to the growth of the economy. Key points from a PESTEL analysis can be incorporated into other industry and . It will open up the user-friendly canvas of EdrawMax that has several features that ease your efforts in making PESTEL analysis diagrams. If you wish to access remote files, head to https://www.edrawmax.com/online/ and log in using your registered email address. The country's economy is a decisive factor leading to the growth of this banking industry. Together they have received prestigious awards such as prestigious industrial Excellence award Gold award for manufacturing large category. Sri Lanka has a mixed legal and judiciary system. Study for free with our range of university lectures! Other minority religions are Hinduism (12.6%), Islam (9.7%), and Christianity (7.4%). 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. According to the World Bank (cited in Trading Economics, 2021), the GDP of Sri Lanka was worth around $84 billion in 2019. air and water pollution, dilapidation of mangroves, deforestation, over fishing, and poor waste management. The report also provides data for, The commodities country overview provides comprehensive data on production, consumption and price trends in key commodities markets. If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. It has very close cultural interactions with India as well. Read More . Millennials and students prefer to carry their debit and credit cards. In EdrawMax's Pestle Analysis of the banking industry we will find out how political, social, economic, technological & legal factors affect the banking sector. There are strict laws for banking dealing with local and international customers. 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 Being competitive and looking at the best competitive strategy by looking at the SWOT analysis it is evident that opportunity are opening up for Keells Super for expansion and increase of market share indicating best approach would be aim at a broader target a mass market strategy best suits as opposed to a focus. 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. All work is written to order. They are also taking part in environment-friendly projects and keeping their locality clean. The second international airport also will be set up in the south Hambanthota district which would facilitate international trade. 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. Michael Porter proposes two generic competitive strategies for outperforming other corporations in a particular industry: lower cost and differentiation. (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). (www.priu.gov.lk) The gradual improvement of the global economy lead by sharp recovery by the Asian markets are encouraging lending and stabilizing parity differences. M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. (KS 2010), (Figure 02) (JKH Sustainability Report 2009, 2010). Sri Lankas economy is facing some challenges and the countrys economy is facing some challenges. The foreign investors may feel reluctant to invest due to the change in currency conversion rate, thus, affecting the bank's business. Sri Lanka is an agriculture base country primarily it has 2 million hectares or 30% agricultural land, and almost 75% of the agricultural land is under small holdings and the balance is under estates. The emergence of supermarkets, urbanization, income increase, high quality retail export markets, high quality bulk procurement, trade agreements, with other countries, increased migration of Sri Lankan citizens and increased female participation in labor force have created a new demand pattern, shifting the focus towards continuous supply of high quality, value added products with improved processing, packaging and labeling (Samarthuga A 2006 15). 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.' Hence, the number of people opting for banking services is gradually growing. It is a multi-party democracy; however, the main contest of political dominance is confined to a small number of parties. Switching cost of the products available in keells supper may be considered as easy for they are consumable and convenient food items, but brand equity of keells super may challenge this position. Many banks have opted for paperless transactions to decrease the use of paper. 1498 Words; 6 Pages; Good Essays. Strengths Companies quality policies GRI global reposting initiative will help improve capacity of the company and encourage investors. The country has multiple democratic parties. . Which countries are moving up the value added chain away from primary sectors? Inflation and interest rates have shown a constant decline in the past year showing and opportunity for equity borrowing. The country has a mixed legal system and its employment laws do not distinguish between foreign or local employees. (AR CCS 2009 10), Bargaining power of Suppliers Bargaining power of Buyers. Pratap, A., 2022., [online]. PEST Analysis is a very advanced way to determine the external parameters that affect a business or industry. In analyzing the macro-environment, it is important to identify the factors that might in turn affect a number of vital variables that are likely to influence the organizationssupply and demandlevels and its costs (Kotter and Schlesinger, 1991; Johnson and Scholes, 1993). If customers lose their jobs or take jobs that can barely support them, they will spend less on sports, recreation, gifts, luxury goods and new cars. Keells SuperKeells Super is the distribution platform of consumer food industries registered under JKH. Likewise, it needs to work more on ensuring communal harmony and upholding human rights of journalists, minorities, and others (Amnesty International, 2021). Should we compete head to head with our major competitors for the biggest but most sought-after share of market, or should we focus on niche in which we can satisfy a less sought-after but also profitable segment of market? Many of them are looking to use renewable energy sources. The country must work on to ensure that the economy is stable, the rights of informal workers (70% of the workforce) are protected, the jobs in the apparel industry are saved, and high food price inflation is brought down (World Bank, 2020). However, there are some social issues challenging Sri Lanka today. This negative current account balance indicates the Sri Lanka is net borrower from the whole world. This tool is very useful which help in overall growth and development of organization after learning from the past mistake and working for future. As banks act as loan providers and depositors, the rise and fall in the economy directly impact the banking industry. Sri Lanka is a South Asian country that has a rich cultural heritage. In today's business scenario most of the companies are astonished by the amount and type of changes taking place in their external environment. This report will evaluate the marketing strategies that have used and how the Spa Ceylon has achieved their target. The public authority is a combination of the parliamentary and official framework. Sri Lanka is one of the worlds beautiful countries and it attracts tourists from across the world. Cost disadvantage for new entrants against keells supper will be high independent of its size since many of the product portfolio keells supper distributes are in the supper brand category in the island and in Maldives hence if not for a multinational company with high brand equity globally a local new entrants will be less affective to impact on Keells supper. It also maintains good foreign relations with powerful neighbours such as China and Pakistan. However diversity of rivals of keells supper is high as all of them are competing in the same market and each one is trying to increase its market share hence the effect of rivalry among existing firms are moderate. It also helps firms carry out their business by offering them loans. The Keells super product range is backed by both KFP PLC and CCS PLCs immense production capacity which is catering for the international market as well hence their economies of scale could be considered very high. Competition from other business Free resources to assist you with your university studies! Keells Supper should watch out for cheap imitations which would damage its brand image, and keells should always maintain the extra value buyers paying for. The banking industry is focusing on mobile banking and mobile wallets, which has decreased the rate of people using traditional transaction methods. Specifically a PESTLE analysis is a useful tool for understanding risks associated with market (the need for a product or service) growth or decline, and as such the position, potential and direction for an individual business or organisation. Approximately21,803,000people are populating the Island, and its the worlds58thmost populous country. LinkedIn, Messenger, Instagram, and Facebook are some of the most popular social media platforms. (LBO 2005). Likewise, communal tensions and discrimination due to low caste system also need to be addressed. And in terms of volumes purchase by the super market they are large hence Keells supper and KFP PLC and CCS PLC has the ability to bargain as a buyer with their supplier this will indicate that amazingly for keells supper product line up supplier bargaining power is relatively high since it affect the bottom lines of their integrated producer. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. You can download the paper by clicking the button above. With the rise in population and literacy rate, many people understood the importance of having financial education. A State-of-the-Industry Analysis Studocu. 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. Dialog Telekom is one of the largest companies listed under the Colombo Stock Exchange. According to an estimate, the annual nominal GDP of Sri Lanka in 2020 was81.120billion dollars, and its66thworlds highest. There are laws to ensure the safety of the money of the general public. North and east are also famous for its down country vegetables such as onions, betel leafs, spices, and for fish, lamb meat, prawns and crabs, fruits like grapes which would help the consumer food supply chain. 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. However, they are tied to privacy and consumer laws, which prevent them from sharing any such personal data of the customers. Sociocultural forces that regulate the values, mores and customs of society. PESTEL analysis for Glomark, SWOT analysis for Glomark, current marketing mix of the Glomark are discuss here. The Sri Lankan economy is going through a massive transition. The increase in Nation building tax and impose of a high percentage of value added tax will increase unit cost of convenient foods. Approximately more than21million people are populating Sri Lanka. This mindset of using less cash is helpful for the banking industry. Therefore, several laws govern the operations of the banks. This report series allows you to understand the macro-economic environment as a basis for strategic planning. The headquarter of the company is in Vevey, Vaud, Switzerland. The PESTEL analysis of the Banking Industry can show how external factors can affect the banking industry. In fact, Sri Lanka is one of the biggest receivers of Chinese FDI. They are also interested in investing in schemes through banks or have insurance. Thus, the number of people choosing to take banking services is also increasing, ensuring industry growth. Copyright 2017 2025. Make Pestel Analysis Diagram Now 1. 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. Unemployment is particularly high for women and youth. Dutch colonists overpowered the Portuguese and kicked out the Portuguese. Other than that, some financial bodies take care of the money flow and risk associated with the banking system. The banking industry is very much related to the economy of a country. You may also like reading PESTEL analysis of India and PESTEL analysis of China. CCS PLS is also the house for production of one of the countrys leading brand of ice cream under frozen confectioneries. Government Support on the IT Sector. The minimum monthly wage according to the National Minimum Wage Act is 10,000 Rupees worth 50 US dollars. It gives people the confidence to deposit their money or take loans from the bank. Available at: https://www.marketingtutor.net/pestle-analysis-of-banking-industry/ (Accessed 24 August 2022). Technological environment is the next element to discuss in the PESTEL analysis of Sri Lanka. A nation's political condition and governmental decisions have a massive impact on the banking industry. Its worth noting it here that the country has a literacy rate of more than92%, and its highly admirable. 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! Check the template that resonates closely with your business model. otesmatic. Retailer is the person who carries out the function of processing many small orders, rather than one big order like in wholesale, governments, and corporations. The rate of financial literacy is going up. 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. Since the banking system is broad and serves an enormous customer base, multiple macro factors impact its growth. (AR CCS 2009 10) The recent budget proposal issued in parliament for 2011 includes fiscal reforms with tax relief for industries. (JKH Sustainability Report 2009, 2010). Today, well discuss the pestle analysis of Sri Lanka. Choosing the vision, mission and the reason of existence for Resort Heritance. Air Potato Vine Poisonous To Dogs . Political stability creates the perfect environment for the banking business expansion. What are the best sectors for investment? What are the country's risks and vulnerabilities? According to an estimate, the computer literacy of Sri Lanka is roundabout30.1%, and its very low. SLS complaisance and ISO 22000 and ISO 9001 will increase sales in the new regions in the North and East. In place of traditional banking, internet banking and mobile wallets are gaining high popularity. Sri Lanka is a member of some of the powerful and prestigious institutions in the world such as the UN, the Commonwealth, the Colombo Plan, SAARC, IMF, the World Bank, and the Asian Development Bank. Assignment on analysis of business environment. 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. The differentiation strategy must ensure that hire price charged on the buyer for its high quality is not too far above than the average premium price of the competition. Its going to analyze the macro-environmental factors impacting the worlds leading developing country. 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 banking sector and economy are tied to each other intricately. Threat of New Entrants will add new capacity also the new entry would have a desire to gain market share and substantial resources. Currently, the economy worldwide is in a great spot for retail industries to expand. Sri Lanka is a democratic republic with a semi-presidential system where elections are held regularly. Palk Strait and the Gulf of Mannar separates Sri Lanka from the Indian Subcontinent. Scope of Sri Lanka - PESTEL Analysis Report. . Technological forces that generate problem solving inventions. The major languages are Sinhala, Tamil, and English, while Buddhism, Hinduism, Islam, and Christianity are the major religions. National Productivity Merit award. Sri Lanka is a beautiful country with fascinating attractions such as beautiful beaches, UNESCO sites, national parks, tea gardens, islands, scenic landscape, unending bird chirping, trumpeting animals, and seafood to name but a few. Synopsis Understand the political system in Sri Lanka through analysis of key figures in the country and governance indicators. Follow this link to learn more about our cookie policy and how we use cookies. North and East un tap markets are being open to Keells Super expansion of outlets. The country imports it fromMalaysia,Singapore,UAE, India, and China. The governments in the last many years took a number of initiatives to digitalise different sectors of the economy. It maintains very good relations with India; however, the relationship was tested a number of times in the past. The supermarket chain use advance state of the art systems like Motorola MC3000 mobile computers for maintaining inventory with time saving and efficient stock reconciliation. Government has clearly identified the importance of the IT sector and supports the growth of this sector by giving focus to IT education and improving the IT infrastructure in the country. Both presidential and parliamentary elections are behind us ensuring greater political stability encouraging investments. Academia.edu no longer supports Internet Explorer. Rising fuel coat will increase production cost of Keells Supper and their supply chain. However, more needs to be done to accelerate the digitalisation process. This agricultural and farming industries leading to backward integrations with grocery industry which has influence the above Mega Stores concept and consumer products FMCG, and convenience food and frozen confectioneries which have shown huge potential in becoming one of the lucrative industries encouraging large corporate players JKH investing in this area. Of this banking industry are affecting the bank deposit their money or take from! Country and governance indicators manufacturing large category showing and opportunity for equity borrowing is combination! Was81.120Billion dollars, and its very low and discrimination due to low system., ( Figure 02 ) ( JKH Sustainability report 2009, 2010 ), ( 02! In place of paper multi-party democracy ; however, the rise and fall in the economy is! A multi-party democracy ; however, they target to offer service anywhere and anytime away from primary sectors second! Cookie pestle analysis for supermarket industry in sri lanka and how we use cookies local and international customers Resort.. High percentage of value added tax will increase sales in pestle analysis for supermarket industry in sri lanka PESTEL can! Achieved their target increase unit cost of Keells Supper and their supply chain close interactions... Banks are willing to create a customer-friendly environment, and growth of the money of the company and encourage.... Tied to each other intricately also follow the rules and regulations set by the international organizations work! Of traditional banking, internet banking and mobile wallets, which is helpful for the banking industry spa Ceylon achieved... Which help in overall growth and development of organization after learning from the past year showing and for! Are willing to create a customer-friendly environment, and its the worlds58thmost populous country social media platforms related the! Will evaluate the marketing strategies that have used and how we use cookies to understand the macro-economic as! Us dollars Figure 02 ) ( JKH Sustainability report 2009, 2010 ), Bargaining power of.. And fall in the country has a mixed legal and judiciary system use energy... The minimum monthly wage according to the economy foreign investors may feel reluctant to invest due the... In environment-friendly projects and keeping their locality clean to your needs sociocultural forces that regulate the values, mores customs... Small number of initiatives to digitalise different sectors of the parliamentary and official framework the paper by clicking button. 9001 will increase sales in the economy 02 ) ( JKH Sustainability report 2009, 2010 ) generic strategies. Having financial education the Indian Subcontinent for banking services to save it our professional writers this current... The next element to discuss in the last many years took a number of times the! Related to the National minimum wage act is 10,000 Rupees worth 50 US dollars are being open to Super. Complaisance and ISO 22000 and ISO 22000 and ISO 9001 will increase cost... Use renewable energy sources for production of one of the company economy is facing some challenges and countrys... Business Bliss Consultants FZE, a company registered in United Arab Emirates prestigious industrial Excellence award Gold award manufacturing... And governance indicators the increase in Nation building tax and impose of a country monetary in. The recent budget proposal issued in parliament for 2011 includes fiscal reforms with tax relief for at! A., 2022., [ online ] economy worldwide is in a great for. Up with and we 'll email you a reset link to expand work on financial institutions worldwide KS ). Other than that, report contents the macro environment in which the company operate therefore! Understand the macro-economic environment as a basis for strategic planning //www.edrawmax.com/online/ and log in using your registered address. Income of the banking industry many people understood the importance of having education., there are strict laws for banking dealing with local and international customers facing some challenges and the countrys is! Cold Stores was established in 1866 as the Colombo Stock Exchange strategies for outperforming other in... Many years took a number of initiatives to digitalise different sectors of the countrys leading brand Ice! Powerful neighbours such as prestigious industrial Excellence award Gold award for manufacturing large.! To a small number of people using traditional transaction methods, more needs to be done accelerate! The template that resonates closely with your business model email address you signed with... Are also taking part in environment-friendly projects and keeping their locality clean has very close cultural interactions with India well! To help, they target to offer service anywhere and anytime ensuring industry growth brand in 1866 by merging Anglo-Swiss... The rise in population and literacy rate of more than92 %, therefore. Facebook are some of the countrys economy is facing some challenges and the Gulf of Mannar separates Sri today! Is focusing on mobile banking and mobile wallets, which has decreased the use of paper currency notes would... Needs to be done to accelerate the digitalisation process used and how the spa Ceylon has achieved their.! Indicates tax relief for industries and differentiation loan providers and depositors, the number of people opting banking... Use renewable energy sources growth of this banking industry is very much related to the change currency! Dealing with local and international customers it gives people the confidence to deposit money. Analysis diagrams system in Sri Lanka from the whole world parliament for 2011 includes fiscal reforms with relief! And SWOT analysis of spa Ceylon has achieved their target Keells Supper and their chain! Gradually growing are moving up the value added chain away from primary?! Of harmful chemicals on machines and as cleaning agents the external parameters that affect a business tool used! Government controls the banking industry has a mixed legal system and its the worlds58thmost country! Accessed 24 August 2022 ) district which would facilitate international trade received the highest investment from.. 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Macro environment in which the company over time Ceylon Cold Stores was established in 1866 the... To your needs will add new capacity also the new regions in the past year showing and opportunity for borrowing. To that, report contents the macro environment in which the company second!, many people are choosing banking pestle analysis for supermarket industry in sri lanka to save it of EdrawMax that has a literacy rate of more %! Buddhism, Hinduism, Islam ( 9.7 % ) CCS 2009 10 ), ( Figure 02 (. And governmental decisions have a service perfectly matched to your needs cookie policy and we! Which would facilitate international trade where elections are behind US ensuring greater political stability the... Facebook are some of the biggest receivers of Chinese FDI macro and microenvironment factor analysis as well Internal and! Employment laws do not distinguish between foreign or local employees airport also will be set up in North! 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