PESTEL REPORT Essay Example | Topics and Well Written Essays - 1000 words

PESTEL REPORT - Essay Example Political, Economic, Social, Technological, Environment and Legal issues greatly differ in respect to domestic as well as the global structure. PESTEL analysis provides an overview towards the different external factors that the business or organization has to take into consideration. The Political environment of the country highly contributes to the stability of the nation which is as vital aspect to consider regarding the business development. Political factors include intervention of government policies, labor laws, trade restrictions and tax policies. The Economic influences of a nation or the global environment provide a great impact on the business operation and decision making. These factors include the growth of the economy, inflation rate, exchange-rate, globalization, GDP and GNP growth. The Social and cultural aspects of a region contribute considerably to the products demand and business market. The social factors include population growth rate, career attitudes, age dist ribution safety measures, educational infrastructure and cultural taboos. Technological aspect of the business determines the production level and affects the cost and quality of the products. Technological factors include R&D activity, automation, rate of technological change, emergence of new technologies and impact of communication. Environmental issues directly or indirectly affect the business well-being in regard to its kind. Environmental factors include ecological and environmental aspects such as climatic change, weather. Also environmental awareness creates an impact towards the production of products either positively or negatively. Legal issues are widely taken into consideration when establishing a business in a particular region. Legal factors include consumer law, discrimination law, employment law, and health and safety law. Depending on these factors, a PESTEL analysis should provide a context for the business in relation to its external environment. After having a brief introduction about all these factors, let us take a deeper discussion on the effect and influence of economic factors in business growth and development. Influence of Economic factors on business: The economic environment of a country greatly influences the businesses and their market. Though economic factors are out of control for business, it shows a profound effect on the performance and marketing of the business products. It contributes to the product demand, cost structure, pricing strategies, profitability and various other issues within the concern. In addition, it provides a direct impact on the behavior of the consumer in buying the business products. In case of international business, it is a vital one to consider the economic environment of the region or country as it provides a prominent influence over the business growth and its products market. On the whole, â€Å"the strengthening of an economy will generally benefit industries, but the extent of its effect wil l vary according to which economic factors are most affected.† (Henry 2008). One of the major aspects that impact business and economy is the Gross Domestic Product rate (GDP). A constant and positive level GDP is essential to sustain a good business economy. A business GDP has to be on a constant check and appropriate measures have to be taken to maintain the same. Appropriate changes to the policies will

Term paper Example | Topics and Well Written Essays - 1250 words

Term Paper Example During the nation’s early years, this electoral process was effective under a Federalist government, however the need to revise the electoral process with regards to the instatement of the members of the Senate was borne out of the need to further expand democracy, eliminate corruption tied to the election of Senators, and to remove external control over the creation of state legislatures (Neale 3). Also, relying mostly on the votes of the state legislatures caused election deadlocks which prevented the appointment of Senators and subsequently, unfilled senate vacancies for considerable periods at a time (4). This created additional problems with regards to the creation of new laws since the Senate members have longer terms of service than the members of the House of Representatives. Thus, after 124 years of relying on state legislatives on electing Senate members or waiting for the governors to appointment a replacement should a senator leave office, the Seventeenth Amendment was finally ratified on April 8, 1913 which allowed the election of Senators through popular voting (6). ... James Madison is one of the strong proponents on the upkeep of the constitution as well as in preventing most of its amendments, especially since he believes that there is great difficulty in the process of men governing over other men (70). There must be an overall control to all members of the government in order to prevent the human inclination of following actions or decisions that came about due to vested interests, as well as to prevent the over-reliance on religion and virtue which are both subjective in nature. Also, Madison believes that a continuous process of amending the constitution would not only create problems such as the inability of most people to follow laws and regulations properly due to the inaccuracies that can be encountered after several changes were made in the original laws, thus rendering the laws much more ineffective (71). In addition, it is expected that the constitution was already a functional one since it was created by a wide variety of people, in s uch a way that there is a less probability that a majority of the people would be making motives that undermine the rights of the common people (73). Thus, if the constitution was made out of the various ideas and input by different individuals, it essentially governs all members of the nation, using the principles of justice and of the common good as applicable to all walks of life. In addition to the need to retain the constitution as close to the original as possible, the Founding Fathers aimed to prevent the rise of aristocracy through the ruling of only a few people and the establishment of true democracy by allowing more people to participate in the process of governance. This may