...Source: http://www.mindtools.com/pages/article/newTMC_09.htm Last accessed 11.21.2011 PEST Analysis Understanding "Big Picture" Forces of Change Also PESTLE, PESTEL, PESTLIED, STEEPLE & SLEPT. PEST Analysis is a simple but important and widely-used tool that helps you understand the big picture of the Political, Economic, Socio-Cultural and Technological environment you are operating in. PEST is used by business leaders worldwide to build their vision of the future. It is important for these reasons: By making effective use of PEST Analysis, you ensure that what you are doing is aligned positively with the forces of change that are affecting our world. By taking advantage of change, you are much more likely to be successful than if your activities oppose it. Good use of PEST Analysis helps you avoid taking action that is condemned to failure for reasons beyond your control. PEST is useful when you start operating in a new country or region. Use of PEST Analysis helps you break free of unconscious assumptions, and helps you quickly adapt to the realities of the new environment. How to Use the Tool: PEST is a simple mnemonic standing for Political, Economic, Socio-Cultural and Technological. Please see worksheet on the following page. Using the tool is a three stage process: First, you brainstorm the relevant factors that apply to you, using the prompts below. Second, you identify the information that applies to these factors. Third, you draw conclusions from...
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...COUNSELLING FOR SOCIAL ADJUSTMENT: A PANACEA FOR SOCIO-POLITICAL INSTABILITY AND ETHNIC/RELIGIOUS CRISES IN NIGERIA BY: IRABOR PETER ODION 07037830536 DEPARTMENT OF SOCIAL STUDIES, COLLEGE OF EDUCATION, IGUEBEN, EDO STATE BEING A PAPER PRESENTED AT THE COUNSELLING ASSOCIATION OF NIGERIA (CASSON) HELD AT SCHOOL HALL, NATIONAL GRAMMAR SCHOOL, NIKE ENUGU, ENUGU STATE FROM 16TH TO 17TH OF APRIL, 2012 ABSTRACT Counselling-which that provides direction or advice as to a decision or course of action is inevitable in any organisation, institutions or society. More importantly, the roles of counselling in a country like Nigeria made up of diverse ethnic groups and often confronted with socio-political menace that threatens her existence cannot be over emphasized. This study therefore investigates the roles and important of counselling towards the sustainability of Nigeria socio-political development and ethnic/religious unity. Finally, the study examined and recommended how Nigeria can equally experience stable socio-political and ethnic/religious unity with the counsellors playing divergence role in the society. INTRODUCTION Nigeria is a country of extraordinary diversity and as such has extraordinary complexities (Irabor, 2011). Indeed, Nigeria adventure into pluralism of religions and ethnic diversities owns its origin to colonial conquest which permeated the entire continent of Africa beginning from the early 19th...
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...The Macro Environment factors are: 1) Demographic Environment 2) Economic Structural Environment 3) Technological Environment 4) Political Environment MACRO-ENVIRONMENTAL FACTORS A business and its forces in its micro environment operate in larger macro environment of forces that shape opportunities and pose threats to the business. It refers the major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces. The important environmental factors are; (1) Economic Environment (2) Political and Governmental Environment (3) Socio-cultural Environment (4) Natural Environment (5) Demographic Environment (6) Technological Environment (7) International Environment. 1. Economic Environment: - Economic environment of business has reference to the board characteristics of the economic system in which the business operates. The business sector has economic relation with the government, capital market; household sector and global sector. These sectors together influence the trends and structure of the economy. The form and functioning of the economy vary widely. The importance external factors that affect the economic environment of a business are; (i) Economic Conditions: - The general Economic conditions prevailing in the country viz. national income, per capita...
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...of Starbucks | 3 | 3.0 | Introduction of PEST analysis | 4 – 6 | | 3.1 Political-legal forces | | | 3.2 Economic forces | | | 3.3 Socio-cultural forces | | | 3.4 Technological forces | | 4.0 | PEST components of Starbucks | 7 – 8 | | 4.1 Political-legal component | | | 4.2 Economic component | | | 4.3 Socio-cultural component | | | 4.4 Technological component | | 5.0 | Conclusion | 9 | 6.0 | References | 10 – 11 | 7.0 | Appendixes | 12 | 1.0 Introduction First of all, I would like to thank my lecturer, Miss Kanchini who is providing adequate information about the task which given in this Business Management assignment. For a business to be succeed in the market, each of the business need to analyze their surrounding environment for the purpose of increasing their revenue and to be stayed longer in that particular market. There having two types of environment to be analyzed which are internal and external environment. Internal environment of a business is indicating the strengths and weaknesses of a business that must be identified to do some changes on weaknesses and strengthen the strengths owned. For the external environments which influence the long run decisions of an organization also needed to be analyzed especially for the bigger company so that the business will last longer in the market. There are several types of external environment such as PEST, PESTLE, and STEEPLE analysis. (Wheelen & Hunger, 2006) From...
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...MACRO FACTORS AFFECTING BUSINESS ENVIRONMENT SUBMITTED BY: AAYUSH VERMA INTRODUCTION A business firm is an open system. It gets resources from the environment and supplies its goods and services to the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components...
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...benefits of PEST analysis PEST Analysis is a simple but important and widely-used tool that helps you understand the big picture of the Political, Economic, Socio-Cultural and Technological environment you are operating in. PEST is used by business leaders worldwide to build their vision of the future. It is important for these reasons: • By making effective use of PEST Analysis, you ensure that what you are doing is aligned positively with the forces of change that are affecting our world. By taking advantage of change, you are much more likely to be successful than if your activities oppose it. • Good use of PEST Analysis helps you avoid taking action that is condemned to failure for reasons beyond your control. • PEST is useful when you start operating in a new country or region. Use of PEST Analysis helps you break free of unconscious assumptions, and helps you quickly adapt to the realities of the new environment. Political: • Government type and stability. • Freedom of press, rule of law and levels of bureaucracy and corruption. • Regulation and de-regulation trends. • Social and employment legislation. • Tax policy, and trade and tariff controls. • Environmental and consumer-protection legislation. • Likely changes in the political environment. Economic: • Current and projected economic growth, inflation and interest rates. • Unemployment and labor supply. • Labor costs. • Levels of disposable income and income...
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...International Business Environment Name: University: Course Title: Instructor: Date: Executive Summary International business environment changes in the last couple of years have had a significant impact on the sectors of the world economy more so the airline sector, with this in mind the term paper focused on the impact of changes in the international business environment on the airline industry. International business environment is viewed as the most contexts for international business and comprehending how forces in this environment impact the business operations is the difference between business failure and success. To this end, the research established various changes in the business environment that have taken place in political, economic, financial and socio-cultural circles. Political changes especially the Arab spring have had far reaching impact on the airline sector with fall in passenger numbers to these destination as well as the rise in fuel prices negatively impacting the growth of the industry, political instability in other areas as well as laws regulating the airline sector have been on the rise as countries seek to protect local airlines, the economic crisis slowed down the growth of the sector but with the recovery process on track, the airline industry is expected to grow into the foreseeable future, issues such a new taxes for example carbon tax in Europe, the unstable foreign exchange market and inflationary pressures...
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...The Effect Of Socio-Economic Background On Academic Performance Of Secondary School Biology Students (A Case Study Of Enugu North LGA) TABLE OF CONTENT Title page ……………………………………………………………. i Approval Page………………………………………………………….ii Certification……………………………………………………………iii Table of Content ……………………………………………………….iv List of tables…………………………………………………………….v Dedication………………………………………………………………vi Acknowledgement………………………………………………………vii Abstract…………………………………………………………………Viii CHAPTER ONE INTRODUCTION Background of the Study………………………………………………..1 Statement of the problems………………………………………………7 Purpose of the study ……………………………………………………7 Significant of the study………………………………………………… 8 Research Questions ……………………………………………………. 9 CHAPTER TWO LITERATURE REVIEW Factors that affect academic performance……………………………...10 Nature and important of Biology……………………………………….15 Concept of socio- Economic status…………………………………….16 Summary of reviewed literature……………………………… ……….19 CHAPTER THREE RESEARCH METHODOLOGY Research Design…………………………………………………………21 Area of the Study……………………………………………………….22 Population of Study……………………………………………………..22 Sample and Sampling Techniques……………………………………....22 Instrument for Data Collection………………………………………….22 Method of Data Collection……………………………………………...23 Method of Data Analysis………………………………………………..23 Validity of Instrument…………………………………………………..23 Reliability of Instrument………………………………………………..24 CHAPTER FOUR Data presentation and Analysis…………………………………………25 Research Question 1……………………………………………………25...
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...MACRO FACTORS AFFECTING BUSINESS ENVIRONMENT SUBMITTED BY: AAYUSH VERMA INTRODUCTION A business firm is an open system. It gets resources from the environment and supplies its goods and services to the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components...
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...BUSINESS ENVIRONMENT Understanding the environment within which the business has to operate is very important for running a business unit successfully at any place. Because, the environmental factors influence almost every aspect of business, be it its nature, its location, the prices of products, the distribution system, or the personnel policies. Hence it is important to learn about the various components of the business environment, which consists of the economic aspect, the socio-cultural aspects, the political framework, the legal aspects and the technological aspects etc. In this chapter, we shall learn about the concept of business environment, its nature and significance and the various components of the environment. In addition, we shall also acquaint ourselves with the concept of social responsibility of business and business ethics. OBJECTIVES After studying this lesson, you will be able to: ? explain the meaning of business environment; ? identify the features of business environment; ? describe the importance and types of business environment; ? describe the recent developments in Indian Economy that have greatly influenced the working of business units in India; ? explain the concept of social responsibility of business; ? state the social responsibility of business towards different interest groups; and ? explain the concept of business ethics. 3.1 MEANING OF BUSINESS ENVIRONMENT As stated earlier, the success of every business depends...
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...asserts that many factors in the external environment cause a lot of turbulence and uncertainty for organizations. According to him the environment often imposes major constraints on the choices managers make for their organizations. To add to the above, Gareth & Hill (2008) also observed that since performance is the major objective of an organization, it is generally accepted that the structure and decision making in an organization is influenced by environmental complexity and volatility. There are many variables in a firm’s external environment which strategic managers must be aware of. First and foremost, a firm’s external environment consists of variables and trends that do not directly touch on the short run activities of the firm but can, and often do influence its long-run decisions. These trends are found in the firm’s societal environment; also known as the macro-environment and they include economic, technological, political-legal and socio-cultural forces that influence decision making in organizations. Secondly, there are variables in a firm’s external environment which directly affect the organization and are in turn affected by it. These are found in the task environment; also known as the micro-environment. Daft (2008) views the task environment as the sectors with which an organization interacts directly and that have a direct impact on the organizations ability to achieve its goals. A corporation’s task environment can be seen as the industry within which...
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...Ethiopia August 2009 Addis Ababa, Ethiopia Course Title: - Civics and Ethics Course Code: - CvEt 201 Credit Hours: - 3 Learning Outcomes A graduate from Ethiopian higher education institution who has taken this course:will be inquisitive, critical, analytic, integrative and morally balanced person. exhibits higher ethical standards like open-mindedness, rational thinking, evidenceoriented personality and problem solving skills with high professional spirit. tends to be more participatory in socio-economic and political endeavors will be practical, highly concerned, responsible and loyal to his/her nation Course Objectives At the end of this course, students will be • familiar with key concepts like civics, ethics and profession • equipped with basic knowledge, skills and attitude of socio-economic and political issues of their country • familiar with government institutions, policies, strategies and legal provisions of their country • able to analyze the dynamics of socio-economic and political transformations of their country • able to develop the knowledge of work habit; professional, environmental, development and public service ethics, and their repercussions • familiarized with foundations of democracy and good governance and tools of democratization process • able to assess the values of multi-culturalism and tolerance for mutual understandings and co-existence • able to gain an increased awareness of the opportunities and challenges of globalization Course Outline Chapter...
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...Legal, Political and Ethical Environment: Dimensions of business environments are often classified in 6 major groups represents by the acronym PESTEL. These are: 1. Political 2. Economic 3. Socio cultural 4. Technological 5. Environmental 6. Legal Political environment includes factors like the nature of government policies particularly those related to taxation, industrial relations, regulation of internal business and industry, and foreign trade regulations. It also relates to the stability of the government in power and risk of major political disturbances. Economic factors, as the name implies related to the general condition of the economy within which a business operates and conducts business. It will include factors like GNP, economic growth rate, interest rates, inflation rate, moneys supply, and unemployment rates. Socio cultural factor cover the nature of the life style, culture, attitude and other such common factors that influence and describe the behavioral characteristics typical of the people. It will include factors like demographic profile of the people, culture, and life style. Technological dimension covers the nature of technology available and used by an economy or industry in general. It also covers the extent to which development in technologies are likely to take place. This may be reflected in factors like expenditure on R&D and rate of obsolescence. Environmental factor refers to the physical or geographical environment affecting...
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...international companies differ from domestic companies? The companies doing their business in two or more country are international companies and the companies doing business in a single country only are domestic companies. There are many differences between these two types of companies. These differences occur due to the difference across borders. Nation-states generally have unique government systems, laws and regulations, currencies, taxes and duties, and so on, as well as different cultures and practices. So, What is Domestic Business: Domestic business is the exchange of goods, services, or both within the confines of a single national territory. It is always aimed at a single market and deals with only one set of competitive, economic, and market issues. The exchange is always with a single set of customers all the time, though the company may have several segments in a market. Domestic business may be sub-divided into Wholesale business, and Retail business. Wholesale is concerned with buying goods from manufacturers or dealers in large quantities and selling them in smaller quantities to others who may be sub-dealers, retailers or even consumers. Wholesale trade may be undertaken by wholesale merchants or wholesale commission agents. The wholesale merchant makes outright purchases from dealers or manufacturers or in wholesale commodity markets, and arrange their reselling to the best advantage on his own account. The wholesale...
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...Journal of Socio-Economics 29 (2000) 21–37 Is it necessary to have Islamic economics? M. Umer Chapra*,1 Saudi Arabian Monetary Agency, Riyadh 11169, Saudi Arabian If Islam can be shown to be capable of providing fruitful vision to illuminate the modern conscience, then all mankind and not only Muslims, have a stake in the outcome. (Marshall Hodgson, 1977, Vol. 3, p. 441) Apart from the Islamic world, where fundamentalist political tendencies are quite marked, the global political scene is dominated by rhetoric and values that are primarily consumption-oriented and that stress personal self-gratification as the primary purpose of political action. (Zbigniew Brzezinsky, 1995, p. 53) Keywords: Islamic and conventional economics; Vision; Worldview; Method 1. Introduction Conventional economics, which dominates modern economic thinking, has become a well-developed and sophisticated discipline after going through a long and rigorous process of development over more than a century. The development continues uninterrupted, as reflected in the publication of innumerable journals, books, and research reports throughout the world. Individuals, universities, research organizations, and governments are all participating actively in this development. As a result of accelerated development in Western industrial countries over a long period, substantial resources are available to scholars to pursue their research. It goes to the credit of the West that there is a great quest for knowledge;...
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