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Political Factor
It is related to government policy and its administrative practices that can have an effect on something. Most of the business operators will keep a watchful eye on any political factor, such as new legislation or regulatory shifts, which could have a substantial impact on how their company operates and its bottom line. Toyota is a large multinational company and has showrooms all over the UK. So it is bound to entertain its practices, for UK welcomes business activity however up to some extent Toyota should abide by the laws if it wants to be a thriving business. For the UK it is beneficial that a car manufacturer handles business as job opportunities are created and much needed revenue from taxes are collect. Although some members of parliament may legislate that its home industry Mini for example should have more importance and curb competition in the country. It is said that during times of political stability business is favourable. Toyota in this case can regroup its ideas and put forward plans which can be tolerated by the government. This time period can make or break a business particularly in the car industry. It's regarded as suitable to produce cars that are environmental friendly and do not raise tensions over manufacturing cars. The government supports various types of businesses in several ways. Since Toyota is a private sector business and so the government entertains a business environment that encourages more competition with one another determining factors such as size of the business, capital employed. Firms which dominate sunrise industries are given special attention as to following certain rules that does not give Toyota an unfair advantage. In addition the government can take severe action if one does not comply with rules and regulations. Also forms of taxes may be waived and subsidies provided to allow powerful businesses to be more productive. Tax is a payment given to the government to discourage firms from carrying...
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