Essays on Business Enviroment - PEST Analysis for the Bicycle Business in the UK Case Study

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The paper "Business Enviroment - PEST Analysis for the Bicycle Business in the UK" is a worthy example of a case study on business. In the real world, some countries and markets are better than others in terms of their being conducive to good business. In the case of Bianchi, it is important to know what the general environment is in the United Kingdom prior to making a decision to branch out into this country or not. A country may have a large market for bicycles, for instance, but if the political environment is shaky, it makes little sense for a business to venture into that country.

On the other hand, if the economy is faltering, then it may not make sense too for a firm to venture into that country, because the markets may be weak and demand for its products may not exist. In the same vein, social conditions have to be studied and assessed to find out whether social factors are conducive to a firm branching out into a country. For instance, if social values are strongly pro-environment, a solar company may make a lot of headway and have good business prospects.

Meanwhile, the acceptance of modern telecommunications, the dispersion of smartphones and even bicycles, need prior technology infrastructure such as phone networks, to happen. Moreover, the fact that the external environment is dynamic means that scanning the external environment and examining the relevant factors that impact business ought to be something that happens perpetually and regularly. This is a kind of barometer that the business can look at on a regular basis to know where it is relative to external environmental contexts.

(Auzair 2011; Hedman and Kalling 2003; Pagell and Krause 2003; Venkatraman and Prescott 2006; Aosa and Machuki 2011). What PEST Analysis Is From the above discussion, we are able to get a glimpse of what a PEST analysis is. It is an assessment model or framework for the external business environment that firms must face up to on a daily basis. Strategically,   a PEST analysis provides a barometer reading of the most relevant factors to making business decisions from the business environment. PEST is an acronym that stands for Political Factors, Economic Factors, Social Factors, and Technological Factors.

References

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