Comprehensive PESTLE Analysis of MI Business Strategy Report

This report provides a PESTLE analysis of MI Business, evaluating various macro-environmental factors impacting its operations and strategic decisions. It examines political factors such as government support for infrastructure development and trade restrictions, economic factors like interest and inflation rates, social factors including changing consumer preferences, technological factors such as innovation and online sales opportunities, legal factors related to consumer protection and intellectual property, and environmental factors like sustainability and carbon footprint reduction. The analysis concludes that MI Business needs to focus on innovation and securing intellectual property rights to maintain a competitive edge in the market. Desklib provides a platform for students to access this document and other solved assignments for their academic needs.

Task

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 2............................................................................................................................................1
PESTLE analysis.........................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Pestle analysis is a tool that is useful for every business in order to evaluate different
macro environment factors so that business can analyse their impact and can take effective
decision to overcome them. Report will include pestle analysis of MI business.
TASK 2
PESTLE analysis
Figure:- 1
It is a framework that the business use in order to analyse different macro environment
factors and their impact on the business. These factors can be opportunity for the business or
may become threat for their growth. The different factors are as following:-
Political factors:-
There are different political factors that may impact the business like foreign trade policy,
labour law, trade restrictions, government policy etc. As the government of UK is supporting for
the infrastructure development, this will bring opportunity for MI business to develop in direct
direction. There are different laws that government have set with respect to health and safety
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Illustration 1: PESTLE analysis

regulations. However, in order to trade in different countries, MI business will face different
barriers as business will be required to pay high tariffs and taxes that will increase the price of its
offering. Meanwhile, many customers will not prefer to have high price offerings (Rastogi and
Trivedi, 2016).
Economic factors:-
There are different economic factors that affects the business such as inflation rates,
interest rates, economic growth, unemployment rates etc. If the interest rates are high in market,
it will impact the liquidity of MI business. If the tax rates goes high, then also price of the
products that MI offers will get rise and that may impact the sales of the business. However, as
the demand of the products that MI offers get raised, it directly impacts the inflation as supply of
money in market get raised (Zahari and Romli, 2019).
Social factors:-
There are different social factors that impacts the business such as health conscious,
population trends, income distribution, lifestyle etc. As the preference and lifestyle of people are
shifting towards innovative products or gazettes having attractive features. Income distribution
also impact the business and as it is raising in developing countries, MI will be getting
opportunity to produce its quality products with affordable price range in order to give greater
customer services (Fozer and et.al., 2017).
Technological factors:-
There are different technological factors that impacts the business like innovation,
research and development, technological changes etc. As there is tough competition in market
with respect to innovation and technological advancements, MI is having opportunity to sale its
products with the help of online platforms. Business is also required to make its official website
attractive in eyes of the customers. However, as there are many firms available in market,
business is having tough competition and need to work on innovation so that they can offer
products that is somehow different from other offerings in market (Islam and Mamun, 2017).
Legal factors:-
There are different legal factors that impact the business such as consumer protection
laws, copy rights and patent laws and also health safety laws. MI is working effectively by
following health and safety rules and providing the customers with privacy options. However,
business may get threatened if they do not have copyright of its innovation and also patent of its
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offerings. Business is required to have a trademark also so that other businesses cannot copy
their ideas (Zahari and Romli, 2019).
Environmental factors:-
There are different environmental factors that impact the business, for example carbon
footprints, pollution, sustainability etc. MI is having an opportunity to attract its customers with
the help of sustainability in its business activities. As company is laying focus on performing
operations in an eco-friendly manner and also working to reduce carbon foot prints. This in turn
creates an effective image of its brand in eyes of the customers (Rastogi and Trivedi, 2016)..
CONCLUSION
From the above study it is been concluded that MI business is required to work on
innovation in order to compete in market and also have to patent its offerings so that other firms
cannot copy their ideas.
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REFERENCES
Books and Journals
Fozer, D. and et.al., 2017. Life cycle, PESTLE and multi-criteria decision analysis of CCS
process alternatives. Journal of cleaner production. 147. pp.75-85.
Islam, F.R. and Mamun, K.A., 2017. Possibilities and challenges of implementing renewable
energy in the light of PESTLE & SWOT analyses for island countries. In Smart Energy
Grid Design for Island Countries (pp. 1-19). Springer, Cham.
Rastogi, N.I.T.A.N.K. and Trivedi, M.K., 2016. PESTLE technique–a tool to identify external
risks in construction projects. International Research Journal of Engineering and
Technology (IRJET). 3(1). pp.384-388.
Zahari, A.R. and Romli, F.I., 2019. Analysis of suborbital flight operation using PESTLE.
Journal of Atmospheric and Solar-Terrestrial Physics. 192. p.104901.
Online
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