Reflection: Write a one-paragraph reflection on what was most interesting to you
ID: 1227788 • Letter: R
Question
Reflection: Write a one-paragraph reflection on what was most interesting to you in your PEST analysis. (At least 8-10 sntenses) about this Analysis:
Political
Economic policy of the government.
Trade policy and what is occurring in surrounding countries.
What type of government is in place?
The government is intense on growth in the economy, and that the domestic political situation remains the same.
The amount of presentation regarding inefficient and corrupted government.
Economic
The current and project economic growth, inflation and interest rate.
Impact of technological or other change in the economy.
Change in the economic environment
Can examine the economic issues that may have an impact on the company.
May effect purchasing power of potential customers and the firms cost of capital.
Socio-Cultural
Based on the population growth rate and the age profile.
The lifestyle choices and attitudes to those choices.
Press attitudes, public opinion, social attitudes, and social taboos.
Will be able to understand how consumer needs are shaped and what brings them to the market for a purchase.
Could affect customer needs and the size of potential markets.
Technological
Impact of Internet, reduction in communications costs and increased remote working.
Impact of technology transfers.
The impact of emerging technologies.
The opportunity is that it can either be a positive or a negative impact in introducing a product or service into the marketplace.
Can lower barriers to entry; reduce minimum efficient production levels and influence outsourcing decisions.
Political
Economic policy of the government.
Trade policy and what is occurring in surrounding countries.
What type of government is in place?
The government is intense on growth in the economy, and that the domestic political situation remains the same.
The amount of presentation regarding inefficient and corrupted government.
Economic
The current and project economic growth, inflation and interest rate.
Impact of technological or other change in the economy.
Change in the economic environment
Can examine the economic issues that may have an impact on the company.
May effect purchasing power of potential customers and the firms cost of capital.
Socio-Cultural
Based on the population growth rate and the age profile.
The lifestyle choices and attitudes to those choices.
Press attitudes, public opinion, social attitudes, and social taboos.
Will be able to understand how consumer needs are shaped and what brings them to the market for a purchase.
Could affect customer needs and the size of potential markets.
Technological
Impact of Internet, reduction in communications costs and increased remote working.
Impact of technology transfers.
The impact of emerging technologies.
The opportunity is that it can either be a positive or a negative impact in introducing a product or service into the marketplace.
Can lower barriers to entry; reduce minimum efficient production levels and influence outsourcing decisions.
Explanation / Answer
Within the PEST analysis, I came to learn that despite the government being inefficient and corrupt, it strives to keep an eye on the growth of the domestic economy even though much remains the same. The cause of inflation and higher interest rates are worrisome as firms are likely to face higher cost of capital and customers may be left with little purchasing power due to inflation. The population growth seems to be on a higher side and this is likely to have an impact on the economy as the size of the potential markets may also be affected. Competition may be in place and an opportunity for international trade through outsourcing. This may lead to a positive or negative impact on the introduction any new technologies or new product or service.
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