Demographics Essay

Submitted By tp01
Words: 1966
Pages: 8
Open Document
“Analyse what you perceive to be the key demographic features of British society and its implications to business.”

British society is highly diverse and ‘multicultural’, thanks to its wide range of demographic features - age, sex, ethnicity, and population size. It is Britain’s ability to adapt to changes in these trends that ultimately determines the success or failure of a business. In such a turbulent society, it is essential for businesses to be able to comprehend the environment in which they are established in order to sustain their foothold in the 21st Century business arena.
A growing population size and structure is a key feature of British society that is at the heart of interest for businesses; this is largely due to the economic implications associated with these factors. The population of the UK grew to 64.1 million in mid-2013, representing a gain of 400,600 (0.63%) over the previous year mid-2012. This growth is slightly below the average since 2003. This means that the UK’s population has increased by around 5 million since 2001, and by more than 10 million since 1964. http://www.ons.gov.uk/ons (accessed12/03/15).By 2030 there will be 50% more over-65s - and more than double the number of over-85s - alive in England than in 2010. Source: The Guardian, London, England (2013), p. 36.
Natural change (births minus deaths) contributed slightly more than net international migration to the population gain in the year. There were 212,100 more births than deaths (53% of the increase) and 183,400 more immigrants arriving than emigrants leaving (46% of the increase). Source: http://www.ons.gov.uk/ons (accessed12/03/15).
However, the largest proportion of Britain’s population is identified as being towards the mature end of society’s age structure - referred to as an ‘ageing population’. The population of the UK aged 65 and over was 11.1 million (17.4% of the UK population) in mid-2013, up by 290,800 from mid-2012. The number of people in this age group has increased by 17.3% since 2003. Source: http://www.ons.gov.uk/ons (accessed12/03/15). It is improvements in health care services and healthier lifestyle etc. that has contributed to a fall in death rates and a rise in life expectancy. This increase in longevity means that there is a greater strain put upon the government and society because elderly people are living and working for longer, thus stretching resources and income savings over an individual’s working life (16-68) is becoming an ever-growing financial hardship.
“Rules regarding pension saving in Britain have until recently been very restrictive, with retirees being able to withdraw a limit of 25% of their savings as a tax free lump sum and the remainder being invested either: in an annuity (insurance product that provides annual income throughout life) or via a savings vehicle from which they can withdraw at their own pace.” Source: http://www.turcanconnell.com/media/pension-2015 (accessed: 12.03/2015)
As of 27th March 2014, there is now more flexibility in place. This freedom however, comes with a responsibility on the retirees’ part and also has implications to business in respect of their requirement to adhere to these fiscal changes implemented by the Government. Businesses must provide workplace pension schemes, meaning there is extra financial pressure on them due to monetary contributions being made by employers into these savings schemes, which ultimately reduces capital income for their operations, as opposed to improving cash flows. Source: http://www.turcanconnell.com/media/pension-2015 (accessed: 12.03/2015)
Throughout British history, immigration has been present. It wasn’t until after the Second World War however, that what can today be described as a ‘multicultural’ society was created as an invaluable solution to Britain’s labour shortages. A diverse range of ethnicities were encouraged to emigrate and become a vital source of replenishment to British society and its business operations.
Show More

Related Documents: Demographics Essay

Essay on Schizophernia Demographics

Schizophrenia Demographics Schizophrenia, a severe brain disorder, is a chronic illness that can impact a person for life once diagnosed. Although there is no known cause of this disorder research suggests that it may be a chemical imbalance that happens in the brain with excessive stress or substance abuse. The imbalance that occurs affects the emotions, motivations, movements, and the patient’s entire experience of the world around them. The messages that the brain produces get tangled and brings…

Words 962 - Pages 4

Essay Population Demographics

1.How do you suppose living conditions differ between the countries furthest along in the demographic transition compared to the country earliest in the transition? How would living conditions in these two countries affect both birth and death rates? The living condition for countries earlier in the demographic transitions such as health and food supply are improving. Thus better health conditions decrease death rates and more food supply can lead…

Words 1338 - Pages 6

Demographic Trends Essay example

Jina Seo Business 101-Introduction to Business Exam 1 Essay Questions Leslie Dubin, Instrutor 1. What is demography? Name several demographic trends in the U.S. and discuss how they will impact U.S. businesses. In your opinion, why is it important to understand demographic trends? Demography is the statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender, and income. 1) Diversity: includes seniors, people with disabilities…

Words 1238 - Pages 5

Demographics and Micro Environment Essay

Competitors 5 Macro environment 6 a) Cultural. 6 b) Economic 6 c) Natural 6 d) Demographic 6 Fair & Lovely 7 Micro environment 7 a) Company 7 b) Customer 7 c) Public 7 d) Competitor 7 Macro environment 8 a) Cultural 8 b) Technology 8 c) Political 8 Kordel’s 9 Micro environment 9 a) Marketing intermediaries 9 b) Customer 9 c) Competitors 9 Macro environment 10 a) Demographic 10 b) Cultural 10…

Words 3455 - Pages 14

Critically Analyse The Demographic Tran Essay

Critically analyse the demographic transition model using example countries to aid. The demographic transition model describes how the population of a country is changing and has changed over time. It does this by comparing death rate and birth rate alongside total population of countries around the world. It consists of five stages (In stage 1 death and birth rate is high, stage 2 death rate drops and total population begins to rise, stage 3 birth rate begins to fall and population continues to…

Words 616 - Pages 3

demographic transition model Essay

DTM & The UK Demographic transition model (DTM) refers to the transition from high birth and death rates to low birth and death rates as a country develops from a pre-industrial to an industrialized economic system. It was essentially based on European country models, thus immediately we can identify that the UK, being a European country, should fit this model. However we will look into this further. First of all we can start with stage 1 of the DTM. Basically this stage consists of a balanced…

Words 735 - Pages 3

Demography and Demographic Transition Phase Essay

* Define demographic transition. * Describe the 4 phases of demographic transition, including if the population is stable, growing, or declining in each. · * According to demographers, what factors lead to a decline in the crude birth rates (CBR) and crude death rates (CDR) in the epidemiologic and fertility phases of the demographic transition? · * Briefly describe three living conditions and/or environmental impacts in developed countries that have reached phase IV, and contrast…

Words 1067 - Pages 5

Demographic Transition Model Essay

The demographic transition model shows the pattern of growth through four stages. During the first stage both the birth rate and the death rate are high which causes the population to not increase at a rapid rate. All counties experienced this when they were in danger of a reduction of the population by epidemics. During stage two the levels of nutrition increases and medical sciences advance causing the death rate and the infant mortality rate to drop significantly. However, the birth rate is still…

Words 379 - Pages 2

Essay about implications of demographic trends in nunavut

The Canadian North has seen its demographics change drastically over its history. Often, demographic trends in the North are the opposite found in the rest of Canada, which has considerable impacts on the ability of the North’s economy to thrive along with southern Canada. The demographic aspects of population age structure, gender structure, and population size are important changes that have had important implications on the social, economic, and political aspects in the North. The population…

Words 2033 - Pages 9

Demographic Characteristics and Cultural Diversity Essay

valuable asset in order for groups and teams to become high performance groups and teams. Every group or team leader must be aware of the demographic characteristics and the cultural diversity of the team in order to become effective. Groups and Teams There are many factors that affect a team's performance; from leadership and communication, to demographic characteristics and cultural diversity. Each impacts the team in its own way. With out these major factors being forced upon a team or group…

Words 1391 - Pages 6