GLOBAL BUSINESS ENVIRONMENT

Global Business Environment

[Name of the Institute]

Global Business Environment

Introduction

The two industries which have the same market are apparel industry and shoe industry. Both the industries have the same market, but they are different in nature. UK has huge potential of growth in both the industries, i.e. apparel and shoe industry. The paper covers two aspects, i.e. the economic and technological factors which contribute to the changes of the pattern of these industries. The second aspect is the PESTL analysis of the same industries.

Economic and Technological factors contribute to the changes

UK has a huge potential of growth in the both industries, i.e. apparel and shoe industry. The economic and technological factors contribute to the utmost level in the progress of the industries in the market. For past five years, the market in UK has shown a massive change in its trend. The apparel market has increased although the economic conditions did not show the increase in its trends (Jones 2006, pp. 109-120). Clothing, especially if it is formal has become expensive, but at the same time, the trend of purchasing those dresses has also increased.

Women are very conscious about the way they look, and how they dress up. Everything has to be perfect and matching. The shoe industry has taken advantage of this factor, and has started using more advanced technology so that they manufacture more shoes of different styles (Jeffrey 2011, pp. 60-82). The more women buy dresses for themselves, the more they think about purchasing matching shoes. In past five years, the trend of formal gathering, corporate meetings, and corporate dinners has increased a lot, which has given a boost to the apparel and shoe industry. Economic and technological factors have played a vital role in increasing the profitability of these industries over all in UK (Rapra Technology Limited ...