Reference no: EM13518049
Knowledge and understanding outcomes:
1. Understand the impact of the economic environment on business
2. Know how political factors affect business
Learning Outcomes:
1. Explain how changes in economic and political factors may affect a specific organisation
2. Analyse how political factors impact on organisations
3. Analyse how economic factors impact on organisations
4. Evaluate how future changes in economic and political environment may impactthe startegy of organisations
5 Recommend strategies for organisations to undertake in response to their external environment.
Section 1
(This part of the task is about knowledge - show what you know about PEST)
- Explain what the external environment is and why it is important for all businesses to analyse the external environment regularly.
- Explain what is a ‘PEST' analysis is and why it might be a useful tool to for Bianchi to use to analyse the external environment not just regading this decision but as a regular reporting activity in the company.
- Explain what the 4 dimensions are in the P-E-S_T analysis and explain what kinds of things are examines in each dimension and give some examples of how a change in some of these things mighty affect a business.
Section 2
- Report findings of PEST analysis of UK market for Bicycle Business.
(Set out in a clear format - with a clear section for each P-E-S-T dimensionand asub-paragraph for each factor you find in that area that might be relevant for this business analysis.)
- Explain how the information found in the PEST analysis could impact positively or negatively Bianchi's business opportunities in the UK.
Section 3
- In conclusion, looking at findings from the PEST analysis make a recommendation as to whether this might be a good time for Bianchi to push more business in the UK. Make any other suggestions as to what strategies Bianchi might implement in response to factors in the external environment in order to be competitive in the UK market.
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