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ALDI's Global Expansion Strategy: PESTLE Analysis and Porter's Five Forces for New Zealand Market

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This report analyzes the potential market for ALDI's global expansion strategy with PESTLE analysis and Porter's Five Forces for New Zealand market. It also suggests various modes of entry for ALDI to enter the potential market.

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ALDI SUPERMARKET
COMPANY Human Resource Management And Development

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Human Resource Management And Development 1
Contents
Introduction................................................................................................................................2
Overview of ALDI.....................................................................................................................3
About potential countries...........................................................................................................3
Selection of country...................................................................................................................4
PESTLE analysis of New Zealand.........................................................................................5
Porter’s Five Forces of Aldi in New Zealand............................................................................6
Bargaining power of suppliers...............................................................................................7
Threats of New Entrants.........................................................................................................7
Bargaining threat of buyers....................................................................................................8
The threat of Substitutes.........................................................................................................8
Competitive Rivalry...............................................................................................................9
Porter’s value chain....................................................................................................................9
Primary activities.................................................................................................................10
Support activities..................................................................................................................11
Mode of entry in market...........................................................................................................12
Justification..........................................................................................................................13
Conclusion................................................................................................................................15
References................................................................................................................................16
Appendix..................................................................................................................................19
PESTLE Analysis of the Czech Republic and New Zealand...............................................19
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Human Resource Management And Development 2
Introduction
The expansion is said to be the part of the business cycle at the time when a company moves
from the trough to a peak level. It is referred as a time period when the business activity’s
level flows and GDP (gross domestic product) expands till it touches a highest point or peak.
A period of expansion or development is also considered an economic recovery. The report is
being projected to identify the potential influencing market for ALDI’s future global
expansion strategy. A justification will be provided for the chosen potential market with the
help of macro analysis i.e. PESTLE. Along with this, the application of 5 Forces Model will
be done to critically analyze the competitive intensity of the industry. Further, the report will
perform the internal analysis on behalf of ALDI supermarket chain. In the end, it will suggest
the various modes of entry for ALDI to enter the potential market.
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Human Resource Management And Development 3
Overview of ALDI
ALDI is the brand of two discount supermarket chain and has a leading position in the global
market with stores in 18 countries. It has been estimated that the turnover of the supermarket
is more than €50 billion. The supermarket is based in Germany and the chain was started in
1946 by Theo and Karl Albrecht brothers. ALDI is very famous in America and is counted in
one of the favorite grocery stores. The growth success is recognized by the commitment of
the company of making efficiencies at each level- from the construction of the store to the
particular product. Every phase of their functions is reinvented in order to increase the
product quality and customer’s savings (Aldi, 2018).
(Source: Aldi, 2018)
About potential countries
Czech Republic- Czechia is another name of Czech Republic. The country is placed in
central Europe due to which the company has been selected for the expansion of the business.
It includes the ancient provinces of Moravia and Bohemia along with the Silesia’s southern

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Human Resource Management And Development 4
tip, cooperatively known as Czech Lands. The “Czechia” name was adopted in 2016 as a
summarized, name for the Czech Republic (Trade Portal, 2018).
New Zealand- New Zealand is an island country in the south-western Pacific Ocean. The
country includes two main islands one South and North Island. The country has developed
the country and has high rank while comparing it with the national performance in terms of
health, education, and quality of life. The country is welcoming the international companies
so that they can develop the better opportunities.
Aldi Company needs the evaluation in which the 2 countries represent the most potentially
attractive target market. Comparative PESTLE analysis of those macro-environmental factors
of 2 countries that are relevant to Aldi is discussed in the Appendix. The rating to factor is
given which helps in selecting the country for the expansion of the business in Appendix.
Selection of country
Aldi Company should expand its business in New Zealand market because the opportunity
for growth is vast in the country. Though, this is the fact that Supermarkets of New Zealand
found the fall in the past years during 2013-2014. Since then, the industry presented the
modest growth every due to strengthening income and population migration. The annual
growth is expected in the industry is 0.3% during 2013-2018. Aldi can bring the growth in the
supermarket industry of New Zealand by providing facility to the customers who include
online grocery shopping (IBIS World, 2017).
New Zealand country is selected after the comparative analysis of both the country. There
were few aspects which were good in the Czech Republic such as double population than
New Zealand. The more population simple means the maximum purchase from supermarkets
but this is also the fact that these people are migrated from different places which means that
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Human Resource Management And Development 5
the supermarket might face difficulty in identifying the need of different consumer from a
different background (Afonina and Chalupský, 2012). Apart from this, the political instability
in the country may lead to many other problems for the company. Therefore, New Zealand is
the best selection for the Aldi Company.
PESTLE analysis of New Zealand
(Source: Haberer, 2010)
Political factors- The political factors include the rules and regulations formed by the
government. New Zealand government is stable due to which the companies find the
opportunity of success in the market. The rules and regulations in the country fluctuate after 3
years as the new government makes new rules and regulations (Faarup, 2010). In New
Zealand, the business freedom is 99.9% and the trade freedom is 84.6% which reflects that
New Zealand market is good for business and trading.
Economic factors- The GDP of the country is expected to rise to $207 billion by the year
2018. This shows that the people can purchase the product due to high purchasing power in
New Zealand. The economy of the country shows that if any company expand the business
then they need to invest huge amount for generating profit.
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Human Resource Management And Development 6
(Source: Central Intelligence Agency, 2018)
(Source: Central Intelligence
Agency, 2018)
The above image shows that the economic aspects of the New Zealand which include the rise
purchasing power of the people, GDP, national saving and in the service sector of the
company.
Social factors- The social factors of the country show that most of the people in the country
are literate and know very well what they are buying from the market and at what price. The

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Human Resource Management And Development 7
society of the country is good but this is also the fact that New Zealand is depended on
business with other countries due to which they welcome new companies (Research and
Markets, 2018). The population of the country is approximately 4,510,327 (by the year 2017
est. July). Out of these, 71.2% people are European, 14.1% are Maori, and 11.3% are Asian
and rest are from different states. Considering the ethnicity of the country, every people in the
country have their own perception, taste, choices which might affect the Aldi Company.
Technological factors- The country has significantly developed in different types of product
technology but for the new technology, the country is depended on other countries. Many
international companies bring new technology in New Zealand then the company adopts
those technologies in their country. It is suggested that there should be the presence of
research and development centers in the country which will help the country in the
technology advancement.
Legal factors- The international business companies can do their business without any fear
of the legal implication in the business activities. This will also provide the opportunity to the
company to generate the profit. The legal system of New Zealand consists of common law
system that is based on the English model with the special legislation and law courts for the
Maori (Source: Central Intelligence Agency, 2018).
Environmental factors- The company and society of country is responsible for the
environmental obligations due to which they fulfill all their duty towards the environmental
suitability. Though, the country is facing some of the environmental issues which include
deforestation, soil erosion, native flora and fauna for which the country has brought new
technology that helps the country to become pollution free (Haberer, 2010). Moreover, there
are some agreements which are undertaken in New Zealand and these agreements include
Antarctic-Environment Protocol, Antarctic Treaty, Endangered Species, Environmental
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Human Resource Management And Development 8
Modification, Marine Dumping, Hazardous Wastes, Law of the Sea, Desertification, Ozone
Layer Protection and many other (Source: Central Intelligence Agency, 2018).
Porter’s Five Forces of Aldi in New Zealand
Porter’s Five Forces is a tool that is essential for the companies to identify the analysis of the
competitiveness of business (Rothaermel, 2015). Below given is an analysis of Aldi
considering the selected market that is New Zealand: -
(Source: Porter, 2008)
Bargaining power of suppliers
The retail industry suppliers provide the products at the fewer prices than the current market
to the giant retailers like Aldi. Thus, the company finds low bargaining power of suppliers in
New Zealand because if in case the suppliers ask for the high prices then the supermarkets
offer the product to the customers at high prices which they won’t be able to purchase
(Porter, 2008). Therefore these results in a decrease in sales and revenue of retailers and
suppliers due to which the suppliers offer the products at low prices. In addition, the suppliers
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Human Resource Management And Development 9
of the country don’t perform the tie-up with the new entrance and generally, they ask high
amount from companies which lead to the problem for Aldi.
Threats of New Entrants
Opening store at the large level needs huge capital investment which decreases the new
entrants in the market. Aldi has the medium threat of new entrants in the market of New
Zealand because there is the presence of local farmers who sell their products to customers
along with this there are many other supermarkets who are present in the country. Moreover,
there are many international supermarkets across the world that can expand the business in
New Zealand which is the biggest threat to the company (Kotler, 2015). This supermarket
includes IGA, Whole foods, Lidl and many others.
Bargaining threat of buyers
The buyer of the company has high bargaining power because there are many companies in
New Zealand that are involved in selling products at low prices. If in case the buyers find the
high price of any product at Aldi then they can easily switch from one supermarket to another
as most of the stores are located at the prime locations which give an opportunity to easily
access them. Apart from it, there a number of stores who offer the loyalty points and rewards
to their customers this help them in retaining the customers like Woolworths, countdown,
FoodStuff, and many others. Aldi supermarket does not offer any such kind of offers to its
customers which is one of the negative aspects of the company. Therefore, it is recommended
to the company to offer discount and bonus to their loyal customers.

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Human Resource Management And Development 10
Threat of Substitutes
The products that are offered by the Aldi supermarket are similar than its competitors. Ever
giant retailer has tie-ups with different brands due to which they are able to offer variety in
the products to the customers (Porter, 2008). Similarly, in the New Zealand market, the
company will offer the same products that are offered by the existing Supermarket of the
country. Therefore, the customer can easily substitute their preference for the supermarket in
the competitive market of New Zealand. The industry players of New Zealand perform the
activities like advertising, marketing, price reduction, offers and many other things which
will lead the problems of Aldi. Hence, the company will face the high threat of substitutes in
the market.
Competitive Rivalry
The competition in the retail industry is aggressive because the competitors of the company
offer the same products at same prices. Aldi will find the strong competition from the
Countdown, a well-known full-service supermarket chain, and a subsidiary of PE
(Progressive Enterprise) who is subsidiary of Woolworths Limited. Apart from Countdown,
there are other companies who can give strong competition such as FoodStuff, New World,
Pak’nSave, etc. All these supermarkets are currently focusing on the prices because of high
competition (Euromonitor International, 2016). Even a difference of few cents will be
highlighted by a competitor through marketing and advertisement which helps them in
attracting the customers.
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Human Resource Management And Development 11
Porter’s value chain
A value chain is a strategic tool that is used by the companies to perform the internal analysis
of the firm activities. According to Michael Porter, the value chain refers to as the framework
that provides the analysis of specific internal activities of the company that create value and
competitive advantage (Porter and Heppelmann, 2015). Below given is the value chain
analysis of Aldi Company that is essential for the company to enter the chosen market.
(Source: Porter and Heppelmann, 2015)
There are basically two major activities that are involved in the value chain activities and
these activities are primary activities and support activities.
Primary activities
The aim of the primary activities of the value chain is to uphold the competitive advantage of
delivery and production of the product. This activity plays a vital role in supporting the
country to enter the new market (Riasi, 2015). The primary activity of the value chain
includes the following: -
Inbound logistics
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Human Resource Management And Development 12
The inbound logistics are associated with the activities of receiving and storing the materials
that are essential for producing goods. Over here, Aldi Company purchases the material in
bulk to manufacture its own product with its own brand name. This shows that the company
has its own production factories. Purchasing the material in bulk helps the company in saving
the cost and ultimately prolongs a competitive advantage over the other competitors of New
Zealand.
Operations
Operations show the lifecycle of the products and services offered by the company (Kotler,
2015). Aldi Company has its own brand so they are able to attract the customer to visit again
and again to their stores for purchasing the non-compromising quality and services which
will help the company in New Zealand. The company gets the products from their own
manufacturing factors so they can ensure the quality of products at low cost.
Outbound logistics
These logistics are a concern with the accessibility of the offering of services and product to
the customers. The company has its own transportation and distribution facility through
which they will be able to provide the products. Aldi will open the stores at prime locations
so that the customers can easily access the goods and services. In Addition, this is the fact
that the company makes use of the vendor quality management system that helps in ensuring
the quality and freshness of the products. Thus, this helps the company in establishing its
place in the market of New Zealand.
Marketing and Sales
Every company makes use of marketing and sales strategies so that they can grab the
attention of maximum customers and they can target the maximum audience (Wilson and

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Human Resource Management And Development 13
Gilligan, 2012). Aldi also makes use of the marketing and sales strategy related to the save
money in all the possible way. Though, the company is bringing the changes in the marketing
strategy by cutting the cost and passing the saving to the customers ultimately. This strategy
will also provide the support to the company to enter the selected market.
Service
This element includes the service that is offered by the company to its customers. Aldi is able
to provide services through an online medium as this is one of the effective ways through
which they can make the product accessible to the customers. The refund policies along with
the less waiting time will help the company in generating customer satisfaction. The company
should innovative new service in New Zealand to make good position and profit. Through,
this service the aim of the company is to provide excellent satisfaction to the customers.
Support activities
Firm infrastructure
The company has the good infrastructure at their stores which provide convenience to
customers to fetch the products of different brands (Chernev, 2014). The infrastructure of
stores is one of the effects through which the company can provide the satisfaction to the
customers. Aldi should upgrade its store as this will make the appearance attractive for the
customers in the New Zealand market.
Human resource
Aldi hires people having good knowledge of products in which company deals. Similarly, in
New Zealand, the company will hire the skilled and educated person which is essential to
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Human Resource Management And Development 14
understand the preference of people. The human resource will help the company in making a
profit in the country.
Technology development
The development of the technology supports the Aldi to expand the business in the other
markets. They make use of advanced technology to enhance the sales of the products and to
generate the revenue.
Procurement
Procurement includes the procuring of good that is offered by the company to its customers.
Aldi maintains a warehouse in which they store all the goods of different brands because the
company purchases the goods in bulk from brands (Wang and Pizam, 2011). This is the only
way through which the company can procure the goods in New Zealand as well.
Mode of entry in the market
There are different types of market mode of entry that are used by companies to enter the
market such as joint venture, franchising, whole owned subsidiary, licensing and many
others. Every market entry mode has its advantages and disadvantages but out of these modes
of entry joint venture is suggested to the company. The joint venture is going be one of the
effective ways with the help of which the company can enter into the market of New Zealand.
The joint venture is a business entity that is formed between two or more parties generally
characterized by shared ownership, shared returns and risks and shared governance (Hennart,
Sheng, and Pimenta, 2015).
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Human Resource Management And Development 15
(Source: Hennart, Sheng, and Pimenta, 2015)
Justification
The reason behind the selection of joint venture as the mode of entry is because the company
is not aware of the market of New Zealand. Joint venture with a company who is already
established in the market of New Zealand will help the company in understanding the
preference of customers so that they try to understand the needs and expectations of the
customers. If the company will be able to meet the expectation of customers then they can
gain the market easily. The major advantage that the company is going to get if the company
select joint venture as a mode of entry is getting details of brands and smooth dealing with a
supplier which is very much important for the business (Hennart, Sheng, and Pimenta, 2015).
Apart from this, it is a fact that the market of Supermarket in New Zealand is fluctuating so if
the company bear any loses they can distribute the loss and profit too. The joint venture will
be effective as the company will be able to invest more amounts in establishing the business
in New Zealand. More amounts will help the company in extending its services and
marketing tactics in New Zealand.

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This is the fact the company is involving first time in the joint venture but this will be
beneficial for the firm as they will get to know about the business agreements involved in
joint ventures. Moreover, the company will find that this mode of entry is suitable for them or
not after involving in the joint venture so that they can involve again in a joint venture for
expanding business in other countries. This will also help them in improving the relationships
between Australia and New Zealand governments along with this company don't have to
spend the whole amount for the expansion. Thus, this will give rise to other companies to
perform trading with New Zealand. In Addition, there is always a first time for the company
to get involved in different modes of entry.
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Human Resource Management And Development 17
Conclusion
It can be concluded from the report that the Aldi should expand the business in New Zealand
market as the company will not face any problem in terms of political, legal, technological
and environmental factors. Though the company will not be able to generate the high profit
which was possible to generate in the Czech Republic but then the company might not be
able to perform the smooth operation. The selection is done considering the expected growth
in the supermarket industry of New Zealand. Further, the report includes the detailed analysis
on the basis of which decision is based and the appropriate market mode of entry.
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Human Resource Management And Development 18
References
Adamkasi (2016) PESTLE-PESTLE Analysis of New Zealand [online]. Available from:
http://freepestelanalysis.com/pestel-pestle-analysis-of-new-zealand/ [Accessed 18th February
2018].
Adamkasi (2016) Porter’s Five Forces Analysis of Aldi [online]. Available from:
https://www.porteranalysis.com/porters-five-forces-analysis-of-aldi/ [Accessed 18th February
2018].
Afonina, A. and Chalupský, V. (2012) The current strategic management tools and
techniques: The evidence from the Czech Republic. Economics and Management, 17(4),
pp.1535-1544.
Aldi (2018) Aldi History [online]. Available from: https://corporate.aldi.us/en/aldi-history/
[Accessed 18th February 2018].
Central Intelligence Agency (2018) The World FactBook [online]. Available from:
https://www.cia.gov/library/publications/the-world-factbook/geos/nz.html [Accessed 18th
February 2018].
Chernev, A. (2014) Strategic marketing management. Cerebellum Press.
Euromonitor International (2016) Grocery Retailers in New Zealand [online]. Available
from: http://www.euromonitor.com/grocery-retailers-in-new-zealand/report [Accessed 18th
February 2018].

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Human Resource Management And Development 19
Export.gov (2017) Czech Republic - Information Technology [online]. Available from:
https://www.export.gov/article?id=Czech-Republic-Information-Technology [Accessed 18th
February 2018].
Faarup, P.K. (2010) The marketing framework. Academica.
Haberer, J. (2010) Strategic Management-Aldi. GRIN Verlag.
Hennart, J.F., Sheng, H.H. and Pimenta, G. (2015) Local complementary inputs as drivers of
entry mode choices: The case of US investments in Brazil. International Business
Review, 24(3), pp.466-475.
IBIS World (2017) Supermarkets, Grocery Stores, and Convenience Stores - New Zealand
Market Research Report [online]. Available from: https://www.ibisworld.com.au/industry-
trends/nz-market-research-reports/retail-trade/supermarkets-grocery-convenience-stores.html
[Accessed 18th February 2018].
Kotler, P. (2015) Framework for marketing management. Pearson Education India.
Lucintel (2012) PESTLE Analysis of Czech Republic: 2012-2017 [online]. Available from:
http://www.lucintel.com/pestle-czech-republic-2017.aspx [Accessed 18th February 2018].
Lucintel (2013) PESTLE Analysis of New Zealand 2013 [online]. Available from:
http://www.lucintel.com/pestle-of-new-zealand-2013.aspx [Accessed 18th February 2018].
Porter, M.E. (2008) The five competitive forces that shape strategy. Harvard business
review, 86(1), pp.25-40.
Porter, M.E. (2008) On competition. Harvard Business Press.
Porter, M.E. and Heppelmann, J.E. (2015) How smart, connected products are transforming
companies. Harvard Business Review, 93(10), pp.96-114.
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Human Resource Management And Development 20
Research and Markets (2018) PESTLE Analysis Of New Zealand 2013 [online]. Available
from:
https://www.researchandmarkets.com/reports/2628067/pestle_analysis_of_new_zealand_201
3 [Accessed 18th February 2018].
Riasi, A. (2015) Competitive advantages of shadow banking industry: An analysis using
Porter diamond model. Business Management and Strategy, 6(2), pp.15-27.
Roland (2014) Groceries Industry Report – Nz Seo Reach [online]. Available from:
http://www.firstdigital.co.nz/blog/2014/01/23/groceries-industry-report-nz-seo-reach/
[Accessed 18th February 2018].
Rothaermel, F.T. (2015) Strategic management. McGraw-Hill Education.
Trade Portal (2018) Czech Republic: Economic And Political Outline [online]. Available
from: https://en.portal.santandertrade.com/analyse-markets/czech-republic/economic-
political-outline [Accessed 18th February 2018].
Wang, Y. and Pizam, A. eds. (2011) Destination marketing and management: Theories and
applications. Cabi.
Wilson, R.M. and Gilligan, C. (2012) Strategic marketing management. Routledge.
1.
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Human Resource Management And Development 21
Appendix
PESTLE Analysis of the Czech Republic and New Zealand
Factors Czech Republic New Zealand
Political factors Stability of the government: -
The condition of the country is
stable and has faced immense
growth from the year 2001 to
2011, which makes them an
attractive location in the matter of
expansion.
Political system: - The political
system of the country has always
considered by a regular struggle
among the reinforced opposition
and the weak alliance
government. Along with this,
there is big tension between the
different political parties of the
country which has disturbed the
government (Lucintel, 2012).
Considering the political
conditions of the country ALDI
will face problem in settling its
Stability of the
government: - The
country has the stable
government which is an
advantage for the business
as they don’t have to face
fluctuations in the policies.
Change in rules and
regulations: -Aldi might
face the difficulties after
every 3 years because
every new government
makes their own rules and
regulations.
Business trade: - In New
Zealand, the business
freedom is 99.9% and the
trade freedom is 84.6%
which reflects that New
Zealand market is good for

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Human Resource Management And Development 22
business and might not be able to
maintain good relations with the
government of the country.
business and trading.
Economic factors The economy of the country: -
In 2017 the GDP of the country
was approx. $279.8 billion. The
ALDI Company can expand its
business in the market of Czech
Republic as the GDP reflecting
positive growth. The company has
an opportunity in this market to
earn more revenue (Trade Portal,
2018).
The economy of the
country: - New Zealand is
classified as a high-income
economy. The economy is
expected to reach $207
billion by 2018 which
shows an opportunity for
the growth of the business
(Lucintel, 2013).
Inflation rate: - the country
has low inflation rate than
every commodity and
service like labor, steel,
iron, sugar and many other
products which help the
company to make a profit.
Social factors Population: - The Czech
Republic has the population of the
10.56 million (2016) which
include more of the inhabitants of
the Czech (Moravians and
Silesians). Thus, the sales of the
Depended on the Social
system: -New Zealand
social system is depended
on the business with other
countries. Thus, the
company has a better
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Human Resource Management And Development 23
supermarket might fluctuate in
positive aspects due to different
kinds of people with different
needs.
opportunity.
Population: - Czech
Republic population is
double than New Zealand.
Though, people are more
literate in New Zealand
which is approximately
99%.
Technological
factors
Advance technology: - The
changes in the technological
factor might affect the Aldi
Company as the Czech Republic
country. The information
communication and technology
market is highly competitive with
a skilled workforce (Export.gov,
2017).
The opportunity for technology:
- The country has the facility of
the Wi-Fi. The opportunities for
the technology changes are
available.
Advance technology: - The
use of the internet in the
rural and urban areas is
making the work easy for
the businesses. Thus, the
supermarket has the vast
opportunity to perform the
business activity.
The opportunity for
technology: - The country
has the opportunity to
develop the technological
changes in different
products.
Legal factors Legal obligations: - The
company legal policy has
restrictions on imports which
Legal obligations: - The
country gives the
opportunity to the new
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Human Resource Management And Development 24
might affect the Aldi while
expanding the business in the
country.
business to come and set up
their business with the less
lending charges.
Hence, the Aldi Company
has the good benefit talking
about the legal factors.
Environmental
factors
Concern towards environment:
-The society of the Czech
Republic is responsible and
knows its obligations towards the
country but considering the fact
the people are less literate due to
which the people in the country
don’t know the importance.
Society of Czech Republic
doesn’t follow all the regulations
which are a negative aspect
(Lucintel, 2012).
Concern towards
environment: -The society
of New Zealand is well
aware of their responsibility
towards the environment.
Technology adopted for
betterment: -The country
has adopted the latest
technology to deal with the
garbage. So the company
has to follow all the policies
related to the environmental
factor if they expand
business in New Zealand
(Roland, 2014).
Rating for the Czech Republic
Factors 1 –
Bad
2 –
Average
3-
Good
4 –
Excellent
5 –
Outstanding
Description

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Political
factors
1 2 3 4 5 Unstable
government
Economic
factors
1 2 3 4 5 GDP is better
than New
Zealand
Social factors 1 2 3 4 5 High
Population
Technological
factors
1 2 3 4 5 Investment in
technology
Legal factors 1 2 3 4 5 Restriction on
imports
Environmental
factors
1 2 3 4 5 Not as much
concern about
the
environment
Total 21
Rating for New Zealand
Factors 1 –
Bad
2 –
Average
3-
Good
4 –
Excellent
5 –
Outstanding
Description
Political
factors
1 2 3 4 5 Stable
government
Economic
factors
1 2 3 4 5 Less GDP
than the
Czech
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Human Resource Management And Development 26
Republic
Social factors 1 2 3 4 5 The
population is
less but more
literacy
Technological
factors
1 2 3 4 5 Technology
advancement
for the
products
Legal factors 1 2 3 4 5 Welcome the
new
companies
with fewer
restrictions
Environmental
factors
1 2 3 4 5 Concern
about
environment
Total 24
1 out of 27
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