Pestle analysis of Sri Lanka. The banking sector and economy are tied to each other intricately. 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. These are Political, Economical, Sociocultural, Political Legal which is commonly known as PEST analysis. Sri Lanka has a rich and long history dating back to125,000years ago, but the country has a documented record of3000years. 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). 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. The country is drawing a lot of foreign investments every year. Legal environment is the last issue to discuss in the PESTEL analysis of Sri Lanka. 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). All work is written to order. The use of credit cards and debit cards is increasing in place of paper currency notes. Click on 'Use Immediately' to import the template's contents to the EdrawMax canvas. Check the template that resonates closely with your business model. 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. 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. 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. It becomes helpful for a country's economy as the small-scale industries or businesses create enough jobs. The foreign investors may feel reluctant to invest due to the change in currency conversion rate, thus, affecting the bank's business. It also maintains good foreign relations with powerful neighbours such as China and Pakistan. And also others medium scale competitors like Laughs and Arpico who are rapidly adding capacity and expanding number of competitors for this industry could be high. Sri Lankas top main exports are ladies undergarments and tea. You can download the paper by clicking the button above. The geographic location of the island played a significant role in history from a strategic point of view. 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. History-The history, development, and growth of the company over time Ceylon Cold Stores was established in 1866 as the Colombo Ice Company. 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. Threat of New Entrants will add new capacity also the new entry would have a desire to gain market share and substantial resources. If not, select "Manage Preferences" to learn more about managing your cookie preferences. From changing the background to adding content, you can customize the diagram in any way you desire. 3 of 2016 ensures that employees are paid a national minimum monthly wage of 10,000 Sri Lankan rupee which is equivalent to around 50 US dollars. Ansoff Matrix in McDonalds (McDonalds Growth Strategy), Impact of technology on sports development, https://www.amnestyusa.org/countries/sri-lanka/, https://www.bbc.co.uk/news/world-south-asia-11999611, https://www.britannica.com/place/Sri-Lanka, https://www.worldbank.org/en/country/srilanka/overview. 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. The National Minimum Wage Act, No. PEST Analysis is a very advanced way to determine the external parameters that affect a business or industry. Political stability creates the perfect environment for the banking business expansion. (Perera 2006) The traditional grocery store concept has been evolving in to a Mega Stores and the heavy discounter concept which carry all the goods shoppers want (Stanton 2007). Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. 2.0 INDUSTRY ANALYSIS: PESTEL FRAMEWORK Premium World Trade Organization Free trade International trade. Study for free with our range of university lectures! Our Aldi PESTLE Analysis helps you identify the external factors that impact the operations of Aldi, one of the top 3 grocery stores in the US. Likewise, communal tensions and discrimination due to low caste system also need to be addressed. Small organizations use payment methods like credits and debits, which is helpful for the banking industry. 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. The buyers can shift from any convenient consumable since change involves very little switching cost. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. 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. Follow this link to learn more about our cookie policy and how we use cookies. Copyright 2017 2025. Political - turmoil, Economy - shambles, Social - upheaval, Technology - fallout as no power, Environment - distraction due to poor policy implementation, Legal - politicised hence no consistency. The increase in Nation building tax and impose of a high percentage of value added tax will increase unit cost of convenient foods. This detailed PESTEL analysis of Sri Lanka aims to explore some of the powerful macro factors that impact on Sri Lanka today and may continue doing so in the future. PESTEL analysis is also a very popular tool among management consultants to help their clients develop innovative product and market initiatives, as well as within the financial analyst community, where factors may influence model assumptions and financing decisions. The banks should also concentrate on providing top-level customer service. Though the banking industry does not impact the environment directly, there are some indirect effects. After technological advancement, the model of banking is changing. The retail industry was able to hold itself up even during the recession. As Sri Lanka has ended a thirty year old ethnic conflict with liberating the north and east of the country from the rebel activities, country is spear heading to a rapid development of infrastructure with, adding more kilometers to the road network and expanding them, with new second international harbor in Magampura Hambanthota District south of the country commencing its operation last august. Looking further into the analysis proves that this competitive strategy could be best approach to retain competiveness of other forces, since keels super can and has build unique brands which have high brand loyalty giving them big margins on brand equity. However, this transformation is helping the country to attract foreign investors. Admissions Open. After the pandemic, many businesses have encouraged their customers to do online transactions. Post author: Post published: March 13, 2023 Post category: happy birthday, grandson text Post comments: perdue chicken commercial voice 2022 perdue chicken commercial voice 2022 This has been because of the gradual improvement of the global economy in the year concerned with sharp recovery of the Asian markets improving the free movement of commodities. otesmatic. PESTEL analysis is critical to understand the external threats & opportunities arising because of the macro environment developments. Sociocultural forces that regulate the values, mores and customs of society. D. Chaired Professor of Management Science INSEAD (Singapore & Fontainebleau France) www . Each of the forces is determined how competitive in that industry as well as the structure of the industry. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. Technological forces that generate problem solving inventions. It allows a company to form an impression of the factors that might impact a new business or industry. In the case of Unilever, these external factors vary significantly, considering the international scope of the business. If you want to draw the PESTEL analysis diagram from scratch, you can click '+.' M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. It is creating a perfectly competitive environment. 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. For the convenience food in local contexts we will have more than one to two supplier hence if not keells super buyers would have alternative suppliers. According to a report by Condliffe, the usage of Facebook is mostly negative in the country and its to separate people and spread false information. 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. Curious about how we partner with you to help you solve your complex modern-day business problem? Keells super high quality standards maintained with compliance to SLS and ISO 22000 and ISO 9001 will render it difficult to substitute hence the threat could be low. Kells Supper has 45 retail outlets strategically located in urbanized and semi urbanized around the companies metropolitan cities. It was known as Ceylon until 1972. Environmental factors affecting Sri Lanka. These factors affect multiple industries and are as follows. Competition from other business But it needs a lot of investment and tech acceleration. pestle analysis for supermarket industry in sri lanka. They have installed ATMs and opted for mobile banking services so that the customers do not have to arrive at the branch for small transactions. However, Sri Lanka also faces some environment challenges e.g. Always keeping abreast of the industry through strategic investments in state of the art food processing technology and constant R & D orientation, companywide quality control system such as ISO 22000 certification, which has transformed the KFP PLC to the market leader it is today. The banks collect customer information and their details. Economic forces that regulate the exchange of materials, money, energy and information. 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. Multinational firms like Nestl have a greater risk of production bottlenecks because of governmental policies and changes. The lifestyle of people is changing rapidly. 5 GAP Analysis Tools to Help a Business Analyst in Strategic Management GAP analysis tools include SWOT and PEST analysis, the Fishbone diagram, McKinsey 7S, and the Nadler-Tushman Congruence Model. Consequently, a huge number of tourists flock to the country every year. This would enable them to be on control of substitutes challenging its position, and increasing brand loyalty among customers who will not be price sensitive, giving keells super the ability cover supplier cost increase on increased margins. Online banking is gaining popularity, making the banking system highly dependent on technology. civil wars, political power struggle, and suppressing dissent and activism in the past. Sri Lanka Imports 65000 MT of diary commodities mainly FCMP and diary therefore seen and instrument to replace, and about 70% of the contribution to the livestock subsector comes from chicken, meat and eggs (MOLARCD 2010). Customers are getting attracted to better interest rates and customer service. (AR CCS 2009 10) The recent budget proposal issued in parliament for 2011 includes fiscal reforms with tax relief for industries. [ CITATION CSE18 \l 1033 ] 4. Access to distribution channels could be considered low as the keells supper has on 46 super markets compared to its competitor Cargills. Political forces Political uncertainty has been ruled out with both the Presidential and parliamentary elections coming to an end bringing stability to the economy polices and political instability prevailed. Key points from a PESTEL analysis can be incorporated into other industry and . Assignment on analysis of business environment. Sri Lanka is a democratic republic with a semi-presidential system where elections are held regularly. . PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental factors. 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. 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. There are strict laws for banking dealing with local and international customers. Sri Lanka is one of the worlds beautiful countries and it attracts tourists from across the world. Mobile adoption is very strong, but innovation potential is lacking. Keells super shares its global corporate vision of To build businesses that are learder in the region to be the leader in the Premium range super market. Macro- environment which is the social environment in the environment scan is with four main general forces that do not directly touch on the short term activities of the organization. Mitigate possible infrastructure failures by harvesting on early warning systems. The 2013 Import and Export Market for Tea in Sri Lanka By Professor Philip M. Parker Ph. The rate of financial literacy is going up. Enterprise resource planning (SAP) Customer relationship management (CRM) SMS alerts for key performance indicators (KPI)s all with ambitious effort to be the premium supermarket in the grocery or Mega Stores industry. The report also provides data for, The commodities country overview provides comprehensive data on production, consumption and price trends in key commodities markets. In. 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. The current account balance for Sri Lanka was estimated to be negative at USD 1.932 billions for the year 2016 and is expected to decrease at a CAGR of 2.35% and reach USD 2.364 by 2022. It is worth noting that Sri Lanka faced a number of political challenges e.g. If a banking institute fails to comply with its laws and regulation, it may face a ban. It examines the political, economic, social, technological, legal, and environmental elements of the operating marketthat may have either positive or negative effects on your company or organization. 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. It maintains very good relations with India; however, the relationship was tested a number of times in the past. Air Potato Vine Poisonous To Dogs . To browse Academia.edu and the wider internet faster and more securely, please take a few seconds toupgrade your browser. Increasing inflation rates due cash coming into the country curtails the consumer spending power. 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. CCS PLS is also the house for production of one of the countrys leading brand of ice cream under frozen confectioneries. What are the best sectors for investment? Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. We extract and organise ecommerce data from over 1,500 online retailers in 40 countries providing daily updates on pricing, assortment size and key attributes. 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. Sorry, preview is currently unavailable. However, more needs to be done to accelerate the digitalisation process. PESTLE Analysis of Sri-Lanka Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, is a country in South Asia. Some factors will be more important to different types of businesses, and a PESTLE analysis will help identity risk factors for the SWOT analysis. However, Condliffe (2019) reports that social media particularly Facebook, have been used to spread false information to bring about social disturbance and disharmony in the country. SLIM-Nielson Peoples award 2009- Most popular FMCG Beverage brand of the year. Technological advances have helped the bank to provide customers with a safe-and-secured service. Marketing Tutor. 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. Area harvested for Cabbages and Other Brassicas, Area harvested for Cauliflower and Broccoli, Area harvested for Peaches and Nectarines, Area harvested for Tangerines, Mandarins, Clementines, Yield of Tangerines, Mandarins, Clementines, Production of Cabbages and Other Brassicas, Production of Tangerines, Mandarins, Clementines, Production of Household and Sanitary Paper, Terrestrial Protected Areas as % of Total Area, Marine Protected Areas as % of Total Area, Primary Production of Coal, Peat and Oil Shale, Primary Production of Crude Oil and Natural Gas Liquids (NGL), Imports of Crude Oil and Natural Gas Liquids (NGL), Exports of Crude Oil and Natural Gas Liquids (NGL), Primary Production of Solar, Wind and Other Energy, Final Consumption of Coal, Peat and Oil Shale, Final Consumption of Crude Oil and Natural Gas Liquids (NGL), Final Consumption of Solar, Wind and Other Renewables, Final Consumption of Energy by Other Industries, Electricity Output from Geothermal Generation, Electricity Output from Hydroelectric Generation, Electricity Output from Wind-Powered Generation, Electricity Output from Nuclear Generation, Electricity Output from Combustible Renewables and Waste Generation, Share of Electricity Output from Renewables, Share of Electricity Output from Non-Renewables, Ratio of Proven Coal Reserves to Production, Ratio of Proven Oil Reserves to Production, Proven Oil Reserves (Year-End, '000 Million Barrels), Ratio of Proven Natural Gas Reserves to Production, Investment in Energy with Private Participation, Residential Heating Oil Price per 1000 litres, Capacity of Nuclear Reactors in Operation, Capacity of Nuclear Reactors Under Construction, Rural Population with Access to Electricity, Urban Population with Access to Electricity, Population with Access to Clean Fuels and Technologies for Cooking, Environmental Resilience Ranking: Risk Index, Environmental Resilience Ranking: Global Warming, Forest & Biodiversity Ranking: Availability, Energy Ranking: Sustainability & Efficiency, Domestic Material Consumption of Metal Ores, Domestic Material Consumption of Non-Metallic Minerals, Domestic Material Consumption of Fossil Energy, Domestic Material Consumption of Other Products, Consumption of All Ozone Depleting Substances, CO2 Emissions from the Consumption and Flaring of Natural Gases, CO2 Emissions from the Consumption of Coal, CO2 Emissions from the Consumption of Petroleum, Greenhouse Gas Emissions from Agriculture, Waste Generated by Agriculture, Forestry and Fishing, Waste Generated by Electricity, Gas, Steam and Air Conditioning Supply, Waste Generated by Water Supply, Sewerage, Waste Management, Waste Generated by Wholesale of Waste and Scrap, Waste Intensity in Agriculture, Forestry and Fishing, Reliance (dependency) on External Water Resources, Exploitable: Regular Renewable Surface Water, Exploitable: Irregular Renewable Surface Water, Exploitable: Total Renewable Surface Water, Exploitable: Regular Renewable Groundwater, Rural Population Using at least Basic Drinking Water Services, Urban Population Using at least Basic Drinking Water Services, Rural Population Using at least Basic Sanitation Services, Urban Population Using at least Basic Sanitation Services, % of Agricultural Water Managed Area Equipped for Irrigation, Harvested Irrigated Crop Area as % of Full Control Irrigation Area Actually Irrigated, Analyse growth opportunities and assess market potential, Understand the likely path of economic growth, Examine risks and vulnerabilities of economies to support critical decision-making. Strengths Companies quality policies GRI global reposting initiative will help improve capacity of the company and encourage investors. If you need assistance with writing your essay, our professional essay writing service is here to help! If you're in the Commodities industry in Sri Lanka, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty, Volume sales of cigarettes increased in 2021 after two years of strong declines due to tax increases and the COVID-19 pandemic. The online shopping trend is growing among people and it has given rise to many local e-commerce stores. 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%). Consumer spending power here to help as the small-scale industries or businesses create enough jobs, energy and information are... 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Of Mannar separates Sri Lanka by Professor Philip M. Parker Ph rates and customer service urbanized and urbanized... Production bottlenecks because of the forces is determined how competitive in that industry as well as the keells Supper on... Would have a greater risk of production bottlenecks because of the countrys leading brand of the island a!