OL 125: Personal Development Plan – PEST Analysis (Milestone

Added on - 19 Sep 2019

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OL 125: Personal Development Plan – PEST Analysis (Milestone Three)Student Name: Tania FarhatDate: 2/10/2017FactorOpportunityThreatPoliticalThe new electiveparty in thecouncil mayaffect positivelyor negatively.The knowledgeof new propertyrules and lawrights has a greatimpact on anindividual orwholeorganization tobe started.The customerprotectionlegislation is alsoone of the factorsto analyze.The customerprotection legislation ishelpful to bring out thefraud organization. Thisreduces the competitivemember and clears theright path for the truecompetitors.The new elective partycan be a big threat toone because it maychange the rules andmight introduce newlaws which may not bein your organization’sfavor. This is a greatthreat which may bringyou to the bottom.EconomicTheunemploymentrate in thecountry effectsso as to get theskilled workers.The globalizationalso affects theeconomicenvironment.The recentinflation rate ofthe countryeffects theeconomicbenefits and loss.The literacy rate isincreasing with thepassing decades and theunemployment rate orthe unemployed willget benefit so as we do.Skilled but employedwill get job and incomeand our company willget a working hand. Itis a mutualisticapproach.The rate of inflationcan cause a great threatto an organization. Themanufacturing rate mayhike which in turnbecome a responsiblefactor for lowproduction so well aslow-profit rate or agreat loss. It mayreduce the retailing,lead to fall of thebusiness.Socio-CulturalOne should beaware of thesocial taboos andtheir affect in theHiring the youth mayhelp an organization tointroduce new andfruit-full ideas. TheIn the era of scienceand technology if youare surrounded by theold beliefs and social
society towardsyou.Generationalshifts or may callit as a newgenerationattitude and theirideas towards thebusiness shouldmatch up withyours so as toconquer theyouth.Religious beliefsand lifestyle ofthe society mustbe kept in mindso as to getsuccess in thearea.bunch of old and younggeneration becomes ahub of experienced andsmart workers. Hardwork and smart work isa great combination tobecome a lead in thebusiness.taboo like ideas thenyou’ll definitely fallback somewhere or theother. One should beaware of the place,environment and thesociety beliefs beforethe start of anorganization otherwiseit is gone to be a curseas a saying by oldies.TechnologicalNewtechnologies onthe horizon mayaffect thebusiness.Knowledge ofthe focus ofresearch in theeducationalinstitute is mustso that one maytake advantage orbeware of thedisadvantagesbecause of them.Competitor’saccess to newtechnology is anarea of greatconcern.Arising new technologyin the industry mayhave a great impressionon the organization.Technology is firsttested then only isintroduced somewhereso it has no doubt inanswering that newtechnology can harmthe growth of thebusiness in any way. Itbrings greatopportunities with it.On the one hand, newtechnology is bringinga great luck to theorganization but themajor threat is also thenew technology beingaccessible by thecompetitors. Thecompetitors are usingnew technology andhow accurately is whateffect the most.Reflection:PEST analysis is a business measurement tools to understand the growth anddecline of an organization. Political, economic, social and technology are a framework so as toreview a situation, position and direction of a company to establish or already established. For
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