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Using PESTLE framework, analyse the impact of external business and economic environment of your focal organisation that affect its strategic decisions and performance - Essay Example

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Nevertheless, their decisions are always affected by certain macro-environmental factors. These include trade barriers, tax changes, changes in government policy, introduction of new laws, and demographic…
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Extract of sample "Using PESTLE framework, analyse the impact of external business and economic environment of your focal organisation that affect its strategic decisions and performance"

Download file to see previous pages The factors analyzed using PESTLE model includes political, economic, social, technological, and legal and environment (Henry 2008, P.51).
Political factors in this case include government policies, conflicts, and wars, pressure groups, trading policies, grand, findings and initiatives and government term and change. Economic factors include general taxation, situation of home economy and trends, market and trade cycles, international economies and trends, factors affecting industries, monetary issues, exchange, and interest rates among others. Social factors analyzed include demographics, lifestyle trends, media views, consumer’ patterns of buying, Company, brand and technology image, lifestyle trends, consumer attitudes and preferences, and religious/ethnic factors. Others include major events and influences, publicity and advertising and changes in laws that impact on social factors. Technological factors include technological advancement, maturity of technology, laws governing technology, and consumer purchasing mechanism among others. Legal factors on the other hand include current and future legislations, European/foreign legislations and regulatory processes and bodies. Finally, environmental factors include corporate social responsibility expectations and awareness, environmental legislations, consumer buying patterns, public awareness on issues affecting the environment and political issues pertaining to the environment (Allen 2010, P.54).
Wars and conflicts are some of the elements of the political factors that affect an organization’s strategic decisions and performance. Wars and conflicts usually come because of political instability and lack of democracy in a country. The UK is one of the most stable countries politically, which has witnessed minimal incidences of wars and political unrest for more than 3 decades. This trend is expected remain constant in the future following the measures ...Download file to see next pages Read More
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