Assignment: Your Business Strategy in the Global Environment This week’s materia

Question

Assignment: Your Business Strategy in the Global Environment This week’s materials focus on your innovations and creativity in a global environment. Congratulations! You have just started a new business! Your assignment has three parts, but is submitted in one paper. the paper

i want you to do is aboit rental car company

1. First, tell me what your new business is. Do you provide a service, or a product? Define this business you have spent so much time dreaming of starting.

2. Next, develop a PEST Analysis using this template: PEST-analysis-template-doc.doc .

3. Finally, describe how you are going to grow this business in the global environment.

PEST Analysis Template Situation being analysed: PEST analysis (political, economical, socal, technological) assesses a market, including competitors, from the standpoint of a particular proposition or a business. criteria examples political economical criteria examples ecological/environmental current legislation future legislation international legislation regulatory bodies and processes government policies government term and home economy economy trends overseas economies general taxation taxation specific to product/services seasonality issues market/trade cydes specific industry factors market routes trends distribution trends customer/end-user drivers interest/ exchange rates international trade and monetary issues trading policies funding, grants and initiatives home market pressure- groups international pressure- wars and conflicts criteria examples social technological criteria examples lifestyle trends demographics consumer attitudes and opinion media views law changes affecting competing technology development research funding associated/dependent technologies replacement technology/solutions maturity of technology manufacturing maturity and capacity information and communications consumer buyng mechanisms/technology technology legislation innovation potential technology access, licensing, patents intellectual property issues global communications brand, company technology image consumer buying patterns fashion and role models influences buying access and trends ethnic/religious factors advertising and publicity ethical issues

Explanation / Answer

i wish to start a rent a car company in uk its name isAZrental .we are providing rent a car sevices to our customers local or touristers .we have so many expectation about this new company and also we have some future plans .

PEST Analysis of AZrentals

Political – The factors related to political includes tax policies, fiscal policies, trade tariffs, business environment, among others.
For a company like AZrentals that does rental business in the UK needs to know how the political system is going towards vehicle market. Political leadership matters a lot for tax structure of the country, it might affect the business sector a lot for doing businesses in a smooth manner. Political parties opt for policy changes of the country hoping to generate more revenues and poverty reduction. This also combines with fiscal policy adjustments and brings changes in trade tariffs.

Economical – The economical factors of the country includes inflation rate, consumer demand in price of products, interest rate, foreign exchange rates and economic growth patterns.
These factors directly affect the economy which ultimately affects the company to do businesses. If the inflation of an economy is increased, it impacts overall business activities which will also affect consumers demand and price of products. Increase in inflation means the price of products/services go up which will cost dearly to customers the company is dealing with. If there is upward trend on the interest rates of the banks, it might affect the businesses to run and discourage investments – both local and foreign. That will increase capital investment of a company and face difficulties to pay back loans.In a country where there is no sound economic growth on a regular trend, investors both – local and foreign – think twice before making investments. If there is sound and reasonable growth rates, they do invest in one go, and if not, buy time to take stock of the economy.

Social – The factors like the cultural trends, tradition, fashion, style, demographics, and population analytics do impact on the social environment of the market in the country. It shows that how customers follow the cultural trends, tradition and fashion while experiencing the services of the company. If the style and cultural issues get connected with the latest product/services of the market the company is dealing with, it affect the transactions of the business. Population of a country also impacts both negatively and positively, if we rely on customers for their daily lives. The supply and demand of the products/services offered by the company matter a lot to business organizations.

Technological – The factors like new products, branding, automation, research and development, technological awareness are critical for company’s sustainable growth and generate more profits.
For a company to be progressive and sustainable, technology matters a lot with new products in the market at times. With latest technological innovation, it helps for branding the product, conducting research for penetrating into new markets that will help to make the operation of the industry efficient in a productive way. Adopting better and latest technology help the company to automate the company services to provide better services to the customers that can only be applied through research. Moreover, if the customers are aware of the services being offered by the company, it will help the market to expand and generate more revenues.

Technical(Legal) –When it comes to legal issues, consumer law, safety standards and labor laws matter a lot for making the business environment friendlier for investments. Changes in consumer law also affect in the tastes of the products offered by the company. If the company like AZrentals is not maintaining safety standards, it will also impact customers, and people get scared of taking services from the company as life comes first in UK. Therefore, strong legal arrangements, with certain required safety standards of Car Company might positively impact the businesses to get more business. Even in least developed countries like Nepal, there are various rules/standards for car rental companies to be strictly followed up such as air bags. If such facility is not possessed in the car company/cars being provided to international organizations like World Bank, they reject the services of car rental businessmen. Not only that, if drivers hired in the cars are not given certain salaries/remunerations, beneficiaries reject the services and the company incur losses. Therefore, legal factors matter a lot when it comes to car rental businesses in any part of the world in today’s globalized context.
Environmental – Environment factors affect the businesses of the company – both internally and externally. If the cars being operated by the Hertz are not environmentally fit as per the transport rules and regulations abiding by all quality standards, it will impact on various sectors economy negatively. Suppose a car hired by a tourist emit a lot of pollutions, it will affect the tourism sector as the country see less number of tourists and the car rental business also get affected due to bad quality services/maintenance.
Company has directly linked with other factors related to environmental such as farming, agricultural, climate, and weather, among others as the people involved in such sectors get affected due to environmental issues. If the environment is not positively maintained, people get distracted, and other ancillarysectors also get hampered for their smooth operations like AZrentals

3)our plan is develop our brand internationally.we are mainly focusing tourist destinstions entire world we want to setup our business in there and we have plan to rent car +tourist guide like that is our plan.

we want to provide best services to our customers..

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