This paper outlines the benefits of environment influence on business. The paper specifically discusses about the FirstGroup Plc and environment influence of PESTEL analysis. what is the impact on the business of the stakeholder such as, Governments, customers and communities. The paper concludes the FirstGroup Plc strategy to overcome the demand of the customers risen above the pack because of its extremely ethical and highly exposed business practices, both in regard to its sourcing and its treatment of its employee. Here I have use the case study of FirstGroup and some web site to have clear idea about the company.
The operation of FirstGroup Plc is make good strategy to control the external influence factors. PESTLE Analysis is an analyzing of the external influence factor of the business environment. It show the big picture of the company in which area they are working. These are ingredients which are over and over again outside the control or influence of a company, and that is why it is very significant to be aware of them to compact with in the approach of the business. First Group is the leading face of the transportation service in the UK. So here we are reviewing external factors which have influence on internal environment of the business for understanding market growth or decline, in comparable to the situation, possible to lead to good direction for transportation business. The number of employee working with FirstGroup is more than 137,000 in the UK and the USA. Total numbers of people using the rail service are 275 million a year. There are leading transportation service providers in UK. They also provide school transportation service in USA to more than 4 million students a day.
What is PESTEL?
Now ear day’s the business is a not only influence by the internal factor but the external factor also play a more importance role while running a business. PESTEL is mainly use to examine the external environment that has an impact on the business. The main point of the PESTEL is to recognize the major environmental tools by considering external factors that business has to face. The PESTLE covers all the external influences factors affecting a business. PESTLE analysis one of the useful tool which help the business to have very close look of large image of the environment in which we are functioning the business, and what are the new probabilities and what harm a business has to face. By knowing more about the environment surrounding the business in which we have to function, it is an external influence to the business or sector. One can also take benefit of the new technology and reduce the harm. PESTEL stand for Political, Economic, Social, technological, Environment, Legal analysing tools has more major impact on the business. So the business is trying to identify the external influence that has an effect on the operation of the business. Here in this case of the First Group is one the good example of PESTEL analysis. PESTEL is one type of a business tool where all the letters of the word itself describes what impact it would have on the business environment. PESTLE analysing tool is use for knowing the risk which is linked with market up’s and down’s , and also with the situation, prospective and path of a business or industry. The PESTLE Analysis is generally use as point of reference tool, see to the area where the company stand or what is demand of product in the situation, which carries more impotence outside the business and what effect will it have on the oppression, what is going inside an business. It is describe in web site that “A PESTLE analysis is a business measurement tool, looking at factors external to the organization. It is often used within a strategic SWOT analysis Strengths, Weaknesses, Opportunities and Threats analysis” (Morrison, 2010).
Links and factors affecting business
There is a good example of influences factor use in the case study of First Group. The...
Please join StudyMode to read the full document