Unit 1 P6 BTEC Business Level 3
P6, M3
In this assignment I will be writing about how stakeholders in two selected organizations of my choice are affected by P.E.S.T.L.E this will show how each one is affected by P.E.S.T.L.E;
P olitical
E conomic
S ocial
T echnological
L egal
E nvironment Definitions:
Political Factor- An activity related to government policy and its administrative practices that can have an effect on something. Most 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 business operates and its bottom line.
Economic Factors- The set of important information that affects a business or an investment 's value. Various economic factors need to be taken into account when determining the current and expected future value of a business. For a business, key economic factors include labour costs, interest rates, government policy, taxes and management.
Social Factor- The facts and experiences that influence individuals ' personality, attitudes and lifestyle. The marketing department of a business needs to take into account the various social factors such as the characteristic of the consumer groups it is targeting to help increase a product 's appeal to those potential buyers.
Technological Factors- Influences that have an impact on how an organization operates that are related to the equipment used within the organization 's environment.
Legal- Allowable or enforceable by being in conformity with the law of the land and the public policy; not condemned as illegal.
Environmental Factors- An identifiable element in the physical, cultural, economic, political, regulatory, or technological environment that affects the survival, operations, and growth of an organization.
Examples of P.E.S.T.L.E
Political-
New State Tax Policies For Accounting
New Employment Laws For Employee Handbook Maintenance
Political Instability In A Foreign Partner Country
Economic-
International Economic
In this assignment I will be writing about how stakeholders in two selected organizations of my choice are affected by P.E.S.T.L.E this will show how each one is affected by P.E.S.T.L.E;
P olitical
E conomic
S ocial
T echnological
L egal
E nvironment Definitions:
Political Factor- An activity related to government policy and its administrative practices that can have an effect on something. Most 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 business operates and its bottom line.
Economic Factors- The set of important information that affects a business or an investment 's value. Various economic factors need to be taken into account when determining the current and expected future value of a business. For a business, key economic factors include labour costs, interest rates, government policy, taxes and management.
Social Factor- The facts and experiences that influence individuals ' personality, attitudes and lifestyle. The marketing department of a business needs to take into account the various social factors such as the characteristic of the consumer groups it is targeting to help increase a product 's appeal to those potential buyers.
Technological Factors- Influences that have an impact on how an organization operates that are related to the equipment used within the organization 's environment.
Legal- Allowable or enforceable by being in conformity with the law of the land and the public policy; not condemned as illegal.
Environmental Factors- An identifiable element in the physical, cultural, economic, political, regulatory, or technological environment that affects the survival, operations, and growth of an organization.
Examples of P.E.S.T.L.E
Political-
New State Tax Policies For Accounting
New Employment Laws For Employee Handbook Maintenance
Political Instability In A Foreign Partner Country
Economic-
International Economic
Bibliography: [1] General Knowledge [2] http://www.britishairways.com/travel/globalgateway.jsp/global/public/en_ [3] https://www.martindales.ltd.uk/1_about_martindales/overview.html [4] http://www.businessdictionary.com/ [5] http://pestleanalysis.com/ [6] British Airways 2012 annual report (See sources section in folder) [7] http://www.caa.co.uk/homepage.aspx?catid=752