PESTLE ANALYSIS RECAP AND EXAMPLE LECTURE 14 AGENDA

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PESTLE ANALYSIS RECAP AND EXAMPLE LECTURE 14

PESTLE ANALYSIS RECAP AND EXAMPLE LECTURE 14

AGENDA PESTLE Review • • • Political Environment Economic Environment Social Environment Technological Environment

AGENDA PESTLE Review • • • Political Environment Economic Environment Social Environment Technological Environment Legal Environment Ecological Environment

POLITICAL ENVIRONMENT Political Rules and Regulations that influence business operations For example: Elections, Government

POLITICAL ENVIRONMENT Political Rules and Regulations that influence business operations For example: Elections, Government relations, sanctions and etc. Practice: XYZ fast food company in Fantasy world (Utopia). There is a new president who promotes business activity and encourages banks to give out loans to entrepreneurs. In this case, the influence of this political factor allows our firm to borrow money for further business operations.

ECONOMIC ENVIRONMENT Economic conditions and events that influence business operations. For example: Recession, Inflations,

ECONOMIC ENVIRONMENT Economic conditions and events that influence business operations. For example: Recession, Inflations, Deflation, Interest rates, exchange rates, consumer confidence and etc. Practice: Utopia’s economy has been stable for a long time and the confidence levels of the citizens are very high. In this case, our company’s financial standing will be very stable and no significant changes will occur.

SOCIAL ENVIRONMENT Social norms and values that can influence business operations For example: Health

SOCIAL ENVIRONMENT Social norms and values that can influence business operations For example: Health awareness, educations levels, life expectancy and etc. Practice: Due to rising levels of health awareness in Utopia, more and more customers are demanding healthy products. In this case, We must introduce healthier products or reinvent some of our current menu to save our market share.

TECHNOLOGICAL ENVIRONMENT Changes in technology and innovation that can influence business operations For example:

TECHNOLOGICAL ENVIRONMENT Changes in technology and innovation that can influence business operations For example: availability of internet, new technology, introduction of e-business and etc. Practice: Due to introduction of e-business in Utopia and in many other countries, many business are making profit online. It is cheaper and costs no money for the storage. In this case, we can establish our own website to show our menu and allow our customers to order products online and we will deliver it to the houses.

LEGAL ENVIRONMENT Laws and regulations of the state that can influence business operations For

LEGAL ENVIRONMENT Laws and regulations of the state that can influence business operations For example: Labor laws, Consumer laws, competition laws and etc. Practice: The labor laws of Utopia is very strict and it enforces the employers to provide social package and safe and sound work environment for their employees. In this case, we as managers, must provide health insurance and over time paid work to the employees. We must also ensure that our facility is safe and healthy for the employees.

ECOLOGICAL ENVIRONMENT Overall status of the universe and natural disasters that can influence our

ECOLOGICAL ENVIRONMENT Overall status of the universe and natural disasters that can influence our business operations. For example: Earthquakes, floods, global warming, consumer demand for eco-friendly products. Practice: Due to global warming, the citizens of Utopia are demanding more eco-friendly products that does not harm the ecology. In this case, we must ensure that our bottles are recycled every day.

REFERENCE Madura, J. (2010) Introduction to Business, 5 th edn. , Paradigm Publishing (Chapter

REFERENCE Madura, J. (2010) Introduction to Business, 5 th edn. , Paradigm Publishing (Chapter 8) Pride, W. M. , Hughes, R. J. & Kapoor J. R. (2016) Foundations of Business, 5 th edn. , Cengage Learning Peter Stimpson. Business Studies, Cambridge Adrian Palmer. , Bob Hartley. (2006) The Business Environment, 5 th edn. , David Needle. , (1994) Business in Context, 2 nd edn. , Chapman & Hall Ian Worthington. , Business Environment, Chapman & Hall

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