such as fines, adverse publicity and imprisonment. Ineffective voluntary
Non conformance with legislative obligations can lead to sanctions
- Type of government regime eg communist, democratic, dictatorship
- Tax levies and tax breaks which affect business profits and customer incomes
- Trade agreements, tariffs or restrictions
- Voluntary codes and Market regulations
- Employment Legislation e.g. minimum wage, anti discrimination laws, employment tribunal rules
can create opportunities for organisations and also place obligations on organisations. Political factors
Political factors are factors connected with the government and its activities. Politics affect organisations because governments introduces rules and regulations that organisations and their customers have to abide by. Politics also affect the stability and success of countries and the market place. If people are not happy with the governments actions they may protest through strikes, marches, riots and even civil war. Protests such as the London riots of 2011 interrupt business activity and even lead to damaged assets and property. Political factors
The first element of a PEST analysis is a study of political factors.
legal and environmental factors is called a PESTLE analysis.
Economical, Social and Technological environment. A study analysing the factors that make up an organisations macro environment is sometimes called a PEST analysis. A PEST analysis incorporating
Macro environment factors are factors operating in an organisation's external environment,they are not specifically about the organisation but affect the overall operation of the organisation. As macro environment factors are external factors which are not specifically about a particular organisation, organisations can not control them, instead they need to manage their impact.The acronym PEST is an easy way to remember the factors that make up the macro environment and stands for Political,
PEST & Macro environmental Factors
An organisation’s success is influenced by factors operating in its internal and external environment; an organisation can increase its success by adopting strategies which manipulate these factors to its advantage. A successful organisation will not only understand existing factors but also forecast how factors may change and plan how to take advantage of the changes. A firm's marketing environment is made up of three parts, macro environment, micro environment and internal environment. This article is about macro environment factors, click to find out about micro environment and internal environment factors.
MACRO ENVIRONMENT AND PEST ANALYSIS
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For Marketing Learners Globally
PEST/STEP Analysis - The Marketing Environment
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