The UK economy is constantly changing for various reasons such as improvement in medicine and increased globalisation leading to people living longer and the UK economy becoming more diverse culturally. Whether or not it provides an opportunity or a threat to a business will largely depend upon how the management of the business decides to attempt to change because of the change of the demographics.
The largest change to the UK demographics would be the overall increase in the average age of the country, because of the innovation in medicine keeping people alive for longer and people not getting sick for long. This could provide many opportunities for a firm in the UK, either in sales or the management of the firm. A firm could change the
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With the UK being part of the European Union there is free movement of labour and capital throughout Europe; and because England has substantially better living conditions than some of the countries in Eastern Europe many migrants have come to England in search of jobs. This could provide large benefits to firms in the UK because these workers do not demand the same amount of money as the equivalent UK worker (because they have been brought up with less money and value it more so than UK residents) while also having a better work ethics, on average, than UK residents. The migrants are also more likely to take the jobs that UK workers view as “beneath them”, such as strawberry picking. This leads to huge reductions in costs to the firms working in these industries who can benefit from this cheap labour, having large reductions to the cost of production. Also the increase in the supply of employees means that potentially the average wage rate could reduce, with a larger amount of people vying for the same job the firms can get away with paying less. This coupled with the fact that the UK is currently in a recession, with large unemployment throughout the world, means that the firms have huge amounts of people to choose from when employing people. The increased amount of migrants in the UK economy also provides a new market for firms, with the migrants wanting national delicacies to eat. This has resulted in large amounts of eastern European
With reference to organisations or industries that you know, to what extent do you think that recent changes in the UK economy will have inevitably damaged the long-term profits of businesses that operate in this country? (40 marks)
It might impact because more immigrant households are enrolling in early childhood programs. According to Edweek.org(2014) the enrollment has increased in certain regions to include the west and south regions. Latinos were one of the races that were in high attendance in those school districts. Changing demographics can impact the center due to teachers not adequately prepared to teach children from cultural and linguistic background. This impact would force centers to have teachers training programs to prepare teachers for a more diverse center. Eric.ed.gov(2014) discusses that teachers will need to modify or change their teaching practices to now fit a changing demographic to specifically meet the needs of their students.
The performance of the UK economy depends very much on the level of Aggregate demand within the economy. AD=C+I+G+(X-M). The UK economy can be judged by a number of key indicators mainly sustainable economic growth, low inflation (target 2%), a surplus on the
Population demographics - Changes in the population has many consequences for the business operation. As the total of the population changes the demand for products and services also changes for example the increase in the UK population has contributed to the demand of the NHS services and has put a strain on
London represents a unique kind of diversity, the rest of Britain is changing between 1991 and 2001 the UK population increased by 2.2 million some of the 1.14 million of whome were born abroad.
Information on demographic drifts is indispensable in understanding the changing profile of a specific area, whether national, regional or local authority levels. According to Croydon Observatory (2015), 2011 censuses shows that the population in England and Wales has increased by 7.1% since 2001 and currently stands at 56.1 million people. Subsequently, in 2001, it has increased by 14% from 7.2 million to 8.2 million in 2011.
There are lots of changes that have occurred in the management of people in the last 30 years in United Kingdom. Many companies find themselves operating in very different market conditions from those prevailing two decades ago as a result of far reaching political and economic changes. There are extreme levels of competition in the private sector that have also been mirrored by greater financial stringency in the public services sector, as the state has sought to commercialise, and in many cases privatise, public sector organisations.
There are several effects and problems caused by the fact that the population of the UK appears to be growing older. Throughout this essay i will attempt to identify these numerous problems, which include the history and demography of the country, overview of the problem, causes and effects and eventually the solution. Then I will attempt to round the essay off with an effective conclusion which will identify the key body of my text and give a general consensus of what I have stated.
The changes in economic environment will affect a business, the profit of the business will be affected because its affect the price and income of a business, which are the main aspect of a business.
In my opinion the terrorist threat to the commercial sector is a very real one which should not be overlooked. The commercial sector within the UK consists of a multitude of different industries that as a whole make up the UK economy, each industry conducts its business and trade by relying on the other to fulfill its supply and demand which is turn provides consumer confidence, that in itself is what the economy is based on which makes it susceptible and vulnerable whenever there is disruption to a sector
* Migration – greater availability of skilled foreigners, however the UK is cutting more jobs for non-EU workers who would be cheaper. [16]
The Government in the UK is relatively stable. We currently have a coalition government as none of the political parties got enough votes to win the majority. Therefore, both of the parties’ manifestos are co-joined so there is a lot more UK businesses need to prepare for. Political decisions can affect businesses
So international trade is an essential part for the UK economy. Also it has given more strength and growth to the overall aviation. Global market and business prospects are one of the most important thing under the trade. Therefore short of the international profession it will be a big lost for UK economic growth.
International business today has exceeded more than any person has ever thought it would, countries are doing more trading and importing now than ever. International business can affect everyone, from small business owners to big companies all over the world. A country that comes to mind that does a lot of international business is the United Kingdom (UK). This paper will include the following: the background of the country, economic environment, government policies, international economic integration and business environment, and current events. By the end of this paper you will be able to know everything about the UK and if you want to construct business or take business out of this country.
Migration in every country leads to a change in the labour market. Countries like UK grant immigration rights to the large numbers of immigrants every year and openly allow immigrations from citizens of their former colonies. The attitudes of a country towards immigration vary greatly on the particular employment patterns and needs at that given time, and these attitudes may change over time. This paper will assess the changes in the labour market of the UK due to the immigrations and its impact on the human resource management in