The impact of social change

The world health organisation says that 54% of the worlds population lived in Urban areas. This is up 20% from 1960. Urbanisation means the are more concentrated areas Geographically for businesses to serve. In the UK this means that it is no longer viable to maintain physical premesis in rural areas. This has been the issues with UK banks, as rural population declines the number of customers for a bank shrinks. So they close branches, this problem has revently become over-come with the invention of online banking. For a country like China which also has large urban areas it makes it easier for large international businesses to target these urban areas to set up shop.

Migration means two things for business. They are able to get either cheaper or better (or both) employees. As well as labour it presents new markets within countries, supermarkets such as Tesco are more likely to stock goods that are representative of the population for that area. For example in areas with a high Polish population there are more Polish supermarkets.

Growth of online business - 25 years ago there were no sales online in the UK. in 2016 there were sales of £133 billion in the Uk. When the online market began people thought that the only thing that would be bough was items like music or books. No one would have forecast that fresh produce would be sold online by supermarkets or clothes would be sold without being able to try them on. These changes show how hard it can be to predict social trends that might happen, and how lucrative predicting social trends can be. Several key enablers have shown how online growth has occured.

• growth in the use of internet and accessability, nearly everyone in the uk has internet and most people cannot live without…