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OL 125: Personal Development Plan – PEST Analysis (Milestone Three)

   

Added on  2019-09-19

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OL 125: Personal Development Plan – PEST Analysis (Milestone Three)Student Name: Tania FarhatDate: 2/10/2017FactorOpportunityThreatPoliticalThe new elective party in the council may affect positively or negatively.The knowledge of new property rules and law rights has a great impact on an individual or whole organization to be started.The customer protection legislation is alsoone of the factorsto analyze.The customer protection legislation is helpful to bring out the fraud organization. Thisreduces the competitivemember and clears the right path for the true competitors.The new elective party can be a big threat to one because it may change the rules and might introduce new laws which may not be in your organization’s favor. This is a great threat which may bring you to the bottom.EconomicThe unemployment rate in the country effects so as to get the skilled workers.The globalizationalso affects the economic environment.The recent inflation rate of the country effects the economic benefits and loss.The literacy rate is increasing with the passing decades and theunemployment rate or the unemployed will get benefit so as we do. Skilled but employed will get job and incomeand our company will get a working hand. It is a mutualistic approach. The rate of inflation can cause a great threat to an organization. The manufacturing rate mayhike which in turn become a responsible factor for low production so well as low-profit rate or a great loss. It may reduce the retailing, lead to fall of the business.Socio-CulturalOne should be aware of the social taboos andtheir affect in theHiring the youth may help an organization to introduce new and fruit-full ideas. The In the era of science and technology if you are surrounded by the old beliefs and social

society towards you.Generational shifts or may callit as a new generation attitude and their ideas towards thebusiness should match up with yours so as to conquer the youth.Religious beliefs and lifestyle of the society must be kept in mind so as to get success in the area.bunch of old and younggeneration becomes a hub of experienced and smart workers. Hard work and smart work isa great combination to become a lead in the business.taboo like ideas then you’ll definitely fall back somewhere or the other. One should be aware of the place, environment and the society beliefs before the start of an organization otherwise it is gone to be a curse as a saying by oldies.TechnologicalNew technologies on the horizon may affect the business.Knowledge of the focus of research in the educational institute is must so that one may take advantage orbeware of the disadvantages because of them.Competitor’s access to new technology is an area of great concern.Arising new technologyin the industry may have a great impressionon the organization. Technology is first tested then only is introduced somewhere so it has no doubt in answering that new technology can harm the growth of the business in any way. It brings great opportunities with it.On the one hand, new technology is bringing a great luck to the organization but the major threat is also the new technology being accessible by the competitors. The competitors are using new technology and how accurately is what effect the most.Reflection: PEST analysis is a business measurement tools to understand the growth and decline of an organization. Political, economic, social and technology are a framework so as to review a situation, position and direction of a company to establish or already established. For

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