1. Environnemental scanning Macro Environment Macro environment is said to be the most general layer of the environment. This consists of broad environmental factors that have an impact on the organization. The PESTEL framework helps us to identify the future trends which might impinge on Nintendo and therefore identify the key drivers of change. On the other hand the five forces framework helps to understand how the competitive dynamics within and around the video game industry are changing
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‘If customers change and you don’t, you’ll lost them’. Why company needs to change? Why organization cannot only concentrates on their core business which they are earning profit and comparatively doing better than their competitors? The customers are changing, our competitors are changing, the world is changing. Globalization and forces driving the major change in organization Firms nowadays are not only competing with the local firms which provide similar services. A globalized economy
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HNC BusinessUnit 4 Marketing Principles Learning outcome 2 Micro & Macro Environment Objectives of presentation • Discover the micro marketing environment (internal) • Discover the macro marketing environment (PEST FACTORS-external) • Explain ‘The Marketing Audit’ and how the elements influence marketing decisions Integrated Marketing Integrated marketing strategies take advantage of a combination of communication tools and media to spread a message such as one-to-one marketing
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FACTORS LEADING TO ENTREPRENEURSHIP 1 FACTORS LEADING TO ENTREPRENEURSHIP Psychological Factors Sociological Factors Personality Traits/Factors Cultural Factors Economic Factors Legal-political Factors Technological Factors 2 PSYCHOLOGICAL FACTORS Need for achievement Propensity for risk taking Self confidence will be driven into engaging in successful entrepreneurial activities Locus of control construct 3 PSYCHOLOGICAL FACTORS
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--------------------------------------------------------------- Page 4 4.3 Economic factor ------------------------------------------------------------- Page 5 4.4 Socio-logical factor --------------------------------------------------------- Page 5 4.5 Technology factor ----------------------------------------------------------- Page 6 4.6 Legal factor ------------------------------------------------------------------- Page 6 4.7 Environment factor ---------------------------------------------------------
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plays in business and society is a large undertaking. There are many facets that help define, shape and regulate the current commercial and social environment. Focusing on key objectives and a general intent, the landscape can be less daunting. Fundamentally, law establishes a common protection of interest and uniformity in which individuals, society and businesses can operate and thrive simultaneously. Without laws to govern the actions of people in society, it is highly likely all social structure
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The Legal Environment A non-profit business incorporates in the state intended for business. The business first Priority is gathering legal counsel. The attorney will prepare all legal documents needed to register as a non-profit 501(c) 3.This will entitle the business to receive charitable and tax deductible contributions. Contributions will be a major role in order for this business to succeed. Management will obtain liability insurance. Management will also determine what will be considered
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monitor the macro-environmental (external marketing environment) factors that have an impact on an organization. The result of which is used to identify threats and weaknesses which is used in a SWOT analysis. PESTLE analysis is in effect an audit of an organization's environmental influences with the purpose of using this information to guide strategic decision-making. The assumption is that if the organization is able to audit its current environment and assess potential changes, it will be better
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3 Executive Summary 3 Approaches 3 Background of BP 3 BP in USA 3 PESTEL analysis of BP in USA 4 Political Environment 4 Economic Environment 5 Socio-cultural Environment 6 Technological Environment 7 Legal Environment 7 Environmental Analysis 8 Summary 8 SWOT Analysis of BP 8 Strengths 9 Weaknesses 9 Opportunities 10 Threats
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marketing environment for the business. PESTEL strategic analytical tool can be used to study the impacts of external factors to the business where the abbreviation stands for political, economical, social, technological, ecological, and legal factors. Political factors affecting the implementation of GSK marketing strategy include possible changes in international trade regulation and competitive regulation likely to be introduced by the governments of China and India. Economic factors
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