Environmental Analysis of an industry - Assignment
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Added on 2021-02-19
Environmental Analysis of an industry - Assignment
Added on 2021-02-19
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EnvironmentalAnalysis of anindustry
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3a) Electric Vehicle in Europe: gearing up for a new phase and major forces that are shapingbusiness environment..................................................................................................................3Industry has changed in last few years........................................................................................6Reason of drive towards the production of electric cars.............................................................8b) New and emerging business opportunities.............................................................................9Critically assenment of other business......................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONGlobal business environment referes an environment in different countries that affects thebusienss decisions. All companies are planning to expand their business in other country for thepurpose of making profits. Therefore, it is important for organization to focus on environemntalfactors and make efforts to keep it clean (Frumkin, ed., 2016). Environmental analysis is astrategic tool which is used by companies to identify the inetrnal and external factors that canimpact on business's performance. This analysis gives an opportunity to business industry byexapnding the business globally. Global environment consider trade laws, environmental lawsand other regulations to that influences buisness ability and profitability. This report is depend on“Electric Vehicle in Europe” gearing up for new phase that helps to save the environement bylaunching electrical cars. For understanding this Volvo cars has been taken that is consider asexample. This is big brand that manufacturesv different types of cars and maintains luxuryvehicles. Vovlo group was founded in 1927 as subsidary of ball bearing manufacturer SKF.Further, this report consist PESTLE nalayis of car industry, Porter five forces that helps to facethe competition and give competitive advantages. Moreover, it defines difference betweenprevious years and presenting years regarding car industry (Ergai and et. al., 2016). MAIN BODYa) Electric Vehicle in Europe: gearing up for a new phase and major forces that are shapingbusiness environmentIn current market, here many thing has been changed after adopting new technology thathelped to increase the business as well as performance of business organization. The main aim ofbusiness industry is to expand their business by launching new products and services that attractscustomers by increasing productivity. Such as Volvo cars has adopted new technology byanalysing the environemnt and introduced new products. Electricity mobility is related witheletrification of the automotive powertrain that covers electric vehicles for which belectric motoris the primary source of actuation. The electric mobility in Europe is driven by three forces thatshaping the business environment of car industry (Schreiber and et. al., 2016). Forces are definedas: Consumer demand: This means demand and taste of consumers are cahning day by daywhich is important for organization to build different designing products and increase
sustainabiliy. Such as consumer demand is adopted by Europe in 2013. in starting it restricsspecific people in Europe due to having high cost range anxiety and low awarenesss that waschallenged for car industry. McKinsey researched on EV adapters in Shanghai, New York andParis in which group are of high income with didffeerent set of attitude and behaviour. Thisresearch has defined in market there are two group that are trendy greens and TCO sensititives.Trendy greens means person who are environmentally conscious and willling to try newtechnology where as TCO sensitives means care about total cost of ownership, willing to changetravel habbits. Therefore, car industry has consider design, brand and performance by adopting EVemerge. In Electric Vehicle it conisder various factor which are as carbon footprint reduction,driving and usage benefits and cost saving cars. The main reason of launching Evs to reduce thecarbon foot print that helps to save the environment and customers willing to pay premium forthe zero or low emission alternatives to ICE. Another benefit is driving and usage that helpsorganization for increasing sale of Evs. It gives a benefit of saving time during rush hours. It alsohas been seen that without subsidies EV is more expensive than ICE cars that might be difficultfor customers to purchase cars. Therefore, goverenment supports EV cars than become cheaperthen ICE and helps to save environment. Thus Volvo has decided to lauch Electric Vehicles forthe purpose of reducing carbon foot print, saving cost and give advantages of driving as it helpsto save time. Volvo has launched cars with good battery back up and maintaining a speed level. Industry deveopment: For developing the car industry and getting competitive advantagesmany companies followed new marketing trends that helped to increase awareness andimportance of new products. Therefore, this force also helps to giving a new share to carindustry. Such as EV modles releases in 2010 and in 2014 it estimates that it launch 60 newmodels y including HEVs in to a production (Mazzi and et. al., 2017).
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