BUSINESS OUTLOOK REPORT for a food retailer of your choice but not to Essay

BUSINESS OUTLOOK REPORT for a food retailer of your choice but not to include Tesco - Essay Example ercent share is genuinely an accomplishment when taking into consideration that this type of business model has very high operating costs and with growth in convenience stores in the country that provide competitive threats to the chain. This report identifies long-run prospects for Sainsbury’s over the next five to ten years with an emphasis on specific trends in the external market that will likely serve as the drivers of change with the retailer and with the food sector. The report further provides an evaluation of whether Sainsbury’s is well-positioned for key changes in the external environment. Sainsbury was highly responsive in adapting to changing market conditions, especially as it pertains to consumer growth in ethical consumption. Ethical consumption is a type of consumer activism that dictates whether to boycott a product or make purchases based on consumer perceptions that the organisation offering the product maintains an ethical stance and set of ethical objectives and values (Grande 2007). Contemporary business research recognises that companies with the aforesaid ethical values and focus maintain higher profitability (Lys, Naughton and Wang 2013). As a result of recognising these trends, the company began adding what is referred to as Steering Committees that are involved at the highest level of governance in areas of assessing the firm’s commitment to corporate social responsibility, providing a quality and enjoyable place to work for employees, and even a climate change committee (Sainsbury 2011). All of the activities and strategies developed by the St eering Groups are highly publicised to ensure that consumers are drawn to the ethical framework of business practice provided by the company leadership. Having such a strong ethical set of values and beliefs also provides Sainsbury’s with minimised costs in relation to human resources. Companies that have very strong ethical cultures also have much less problems with employee turnover