Examining the Economic and Global Business Environment of Virgin Money - Case Study

BUSINESS ENVIRONMENT -
INDIVIDUAL CASE STUDY

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Examining the economic environment of business.....................................................................3
Examining global business environment and its impact on country............................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................8

INTRODUCTION
Virgin money is the UK is linked with UK largest bank sectors consisting the 6.5 m
clients, it is innovative digital platform, contact centres, network of stores and relationship
managers. The organization aims to provide sustainable and long term growth.
In the case study of virgin money will discuss about the economic environment factors by
conducting the pestle analysis to evaluate the changes being formulated in business environment.
It will also provide relevant sources to examine the global business environment and how it
impacts towards the countries with emphasis on UK.
MAIN BODY
Examining the economic environment of business
PESTEL analysis is the strategic tool for identifying the macro environment of
organization, the changes in external factors will not only impact the company but also on other
players working within the same (Cepel and et.al., 2019). The industry is comprised with various
services segments such as banks, credit card companies, building societies, real state brokers.
Banks are unable to act on the independent basis and should provide services on the basis of
particular laws and regulations which impact the growth and offerings. The banking service
impact all countries, it is submissive to various factor and specifically concerning to the
economy as well as government. So by implementing the relevant analysis will help to procure
contextual information of business directions, positioning and growth targets while concerning to
the risk to productivity. It will be helpful for determining the various outcomes related to existing
products or services and to conclude the new product development. Some factors which impact
the functionality of banking industry are political, economic, social, technological, environment
and legal.
Political factors
The political concerns play the significant role in demonstrating the factors which may
impact the organization long term profitability in certain market or country (Gunaseelan and
Kesavan, 2020). The company is operating in banking services more above dozen countries and
expose themselves to several types of political environment as well as political system risks.
Virgin money can access to the outcomes by analysing the various factors investing in certain
markets. It can be concluded as political stability and significance of ban segments in country's
economy. Also, the level of corruption can be specially levels of regulations in financial sectors.