Test
During the lecture, Helen mentioned that this analysis mainly focuses on the macro-environmental influences on the business. The 4 areas to be concerned are Political, Economic, Social and Technological factors. PEST Analysis provides us with a overall big picture of the business to better understand the potential opportunities and threats behind it.
Political Factors
Political Factor refers to the government regulations under which the organizations should operate, for example, tax policy, employment, trade restrictions and tariffs and so on. Economic Factors Economic Factors affects the ways in which the organizations operate and their decision making process. Some examples are economic growth, interest rates, exchange rates and inflation rate and so on.
Social Factors
Social Factors influence the demand of the services or goods of the organization and how they operate. They consist of health consciousness, age distribution, population growth rate and so on.
Technological Factors
Technological Factors include technological aspects such information technology, scientific advancement, rate of techonological change and Research & Development(R&D) activity and so on. They determine the barriers to entry and efficiency of the production levels and as well as the outsourcing decisions of factors of productions.
Pestel Analysis of Cafe Coral
External Analysis: PESTEL
Each and every industries may it be small or large companies are subject to different elements that affect the firm’s function as a whole. These elements are considered as the driving forces for the success or even the downturn of a business. One of the factors that must be considered by any company is the external environment and the underlying aspects that must be given emphasis by any business organisation.
As mentioned, the case was about the changes that must be implemented by Café de Coral and how the company had been able to adjust to the stiff competition of this
Political Factors
Political Factor refers to the government regulations under which the organizations should operate, for example, tax policy, employment, trade restrictions and tariffs and so on. Economic Factors Economic Factors affects the ways in which the organizations operate and their decision making process. Some examples are economic growth, interest rates, exchange rates and inflation rate and so on.
Social Factors
Social Factors influence the demand of the services or goods of the organization and how they operate. They consist of health consciousness, age distribution, population growth rate and so on.
Technological Factors
Technological Factors include technological aspects such information technology, scientific advancement, rate of techonological change and Research & Development(R&D) activity and so on. They determine the barriers to entry and efficiency of the production levels and as well as the outsourcing decisions of factors of productions.
Pestel Analysis of Cafe Coral
External Analysis: PESTEL
Each and every industries may it be small or large companies are subject to different elements that affect the firm’s function as a whole. These elements are considered as the driving forces for the success or even the downturn of a business. One of the factors that must be considered by any company is the external environment and the underlying aspects that must be given emphasis by any business organisation.
As mentioned, the case was about the changes that must be implemented by Café de Coral and how the company had been able to adjust to the stiff competition of this