Discussion – PEST table
| External Environment Analysis —Opportunities and Threats to your chosen business. | Some Internet resources | Threats to your Business | Opportunities for your Business | Additional Comments |
|---|---|---|---|---|
| Political and legal considerations:Political stabilityTariffs and trade restrictionsEnvironmental regulationsEmployment lawsTax policies | You can use the U.S. Department of State website for countries other than the U.S. You can use The U.S Small Business Administration’s website and the individual states’ websites to access legal information. | -There is pressure to increase the minimum wage for employees-pressure by the government to adhere to environment regulations | -Political stability- relaxation of licensing laws | Despite of the challenges the the prospects are looking great now than before |
| Economy:Economic growth rateExchange ratesInterest ratesInflation rate | http://www.bls.gov/eag/eag.us.htmhttp://www.census.gov/cgi-bin/briefroom/BriefRm | -Effects of the slow economy growth that hampers the growth of the company because people don’t enough disposable income-Effects of the global economic recession that weakened the dollar against major currencies such as the Euro Increase in interest rate | Increased globalization that will see Starbucks move into new marketsIncrease in disposable income | |
| Social: Demographics and cultural considerations include: ReputationCareer attitudeAge distributionHealth consciousness/or other trendsEmphasis on safety | Resource: from the U.S. Dept. of Commerce-U.S. Census Bureau website: http://www.census.gov/# | -The focus on healthier lifestyles that may lead to reduction in caffeine intake The decline youth population who are the major in some developed countries -caffeine not good with some groups of people especially those with health conditions such as hypertension(Lopez-Garcia et al,2008) | Longer working hours by people have to increased coffee consumptionAnti-oxidants found in coffee can help the body against diabetes | The sales will pick up because coffee is one thing that many people cannot resist |
| Technology:Research & DevelopmentAutomationIncentives to use technologyRate of technological change | Increased competition brought about by new technology that has enabled more people to roast coffee beans for commercial purposes | Use of technology to developed new improved products of coffeeEmergency of social networking as a marketing and branding tool | The emergency of new technology can only mean more sells and higher quality coffee products |
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