Business Environment

Analysis of the External Environment of a BusinessTechnological Influences on a Electrical Retail Business A occupancy converts inputs into outputs in to make a profit However , the business does non exist in a vacuum , it exists within an out-of-door milieu involving the actions of other players who be outside the business . It is real important that an organisation considers its purlieu before beginning the marketing process , as the business milieu stirs organisational decisions , st aimgies processes and performanceIn examining the business out-of-door environment we must take in to account that thither are two levels of environment . The immediate or useable environment for most firms implicates suppliers , competitors labour markets , financial institutions and costumers , and may include trade organisations , trade unions and a parent company . On the other hand the general or contextual environment consists of the macro stintingal factors such as political , economical , socio-cultural technological , legal and ethical influences on a business in addition known as blighter or comminute analysis , which affect a wide variety of businesses not only from a local or national case but also from the world(prenominal) and supranational developments . The external environment focuses on the PEST or PESTLE analysis and how these factors affect the external environment in which the business operateThe political environment has a huge influence upon the regulation of businesses and the spending tycoon of consumers and other businesses You must consider issues such as : environmental regulation and protection , tax policies , international trade regulations and restrictions , center enforcement law and consumer protection employment laws , government organisation military capability , competition regulations , political stability and safety regulationsAll businesses are touch by economical factors nationally and globally . Interest rate policy and fiscal policy will have to be set accordingly . Within the United Kingdom the humour of the thriftiness dictates how consumer may behave within society . Marketers also need to consider the state of a trading economy in the short and long-terms This is especially true when planning for international marketing .

You will need to look at : economic growth , interest order and monetary polices , level of rising prices , government spending , unemployment polices taxation rate , exchange judge etcThe social and cultural influences on a business shift from country to country . It is very important that such factors are considered . Factors included are : income distribution , demographics , population growth rates , age distribution , labour /social mobility , keepstyles , work / public life and leisure attitudes , education , fashion , health consciousness and spirit conditionsTechnology is vital for competitive advantage , and is a major driver of globalisation . Points to be considered are : government spending research , new inventions and development , rate of technology transfer life cycle and speed of technological obsolescence , energy use and cost changes in technologyIn my essay I will focus my vignette in to the technological influences in the industry of electrical retail and discuss how these technological influences effect the industry and how other factors of the PEST analysis interlink with the technological factor and affect the industryTechnology empennage be defined as .an application of knowledge into some...If you fatality to get a full essay, order it on our website: Orderessay

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