P²estle²
P²estle² is also known as the Macro environment. It is seen as an external environment because it doesn’t have control over the factors that affect them, whether it affects them in a positive or negative way. This is also seen as the most challenging environment for businesses to deal with. P²estle² stands for the eight factors that affect the business. These eight factors are political, physical, economic, social, technological, legal/legislation, ethical and environmental.
Political means any political issues that could possibly affect a business. This would involve things like change in the government and or staffs different opinions with the different government groups. Physical means how the climate of the country can affect …show more content…
This would be more convenient because then they wouldn’t have to remember the phone number off by heart for Miranda.
Theoretical component: Technology is forever advancing in the world therefore it is important for businesses to keep up to date to keep customers interested. By keeping up to date businesses are able to have a faster and more appropriate production of goods and services. By keeping up to date the business can keep customers interested and possibly increase there number of customers. Many people know that it can be expensive for businesses to update technology so if a business is able to update its technology customers will be intrigued because they know that business is …show more content…
We also know that during winter it is very cold harsh conditions that Runway can focus on catering for customers. While during summer it is very humid and thus Runway is able to make a lot of money off potential customers as they will need a new wardrobe for summer.
We know that due to New York being so busy there is a lot of crime and so it is important for Runway to ensure that they have all their important documents stored away safely.
Theoretical component: Physical factors would be things like where the business is in the world, environmental factors that will affect the business and the population of the place where the business is. Issues such as crime would also fall into this factor.
When looking at where in the world the business is in we need to look at which country and then city the business is in. once that is determined we need to take into consideration the type of weather conditions that is experienced in that place and how this could affect the business in a negative or positive
P²estle² is also known as the Macro environment. It is seen as an external environment because it doesn’t have control over the factors that affect them, whether it affects them in a positive or negative way. This is also seen as the most challenging environment for businesses to deal with. P²estle² stands for the eight factors that affect the business. These eight factors are political, physical, economic, social, technological, legal/legislation, ethical and environmental.
Political means any political issues that could possibly affect a business. This would involve things like change in the government and or staffs different opinions with the different government groups. Physical means how the climate of the country can affect …show more content…
This would be more convenient because then they wouldn’t have to remember the phone number off by heart for Miranda.
Theoretical component: Technology is forever advancing in the world therefore it is important for businesses to keep up to date to keep customers interested. By keeping up to date businesses are able to have a faster and more appropriate production of goods and services. By keeping up to date the business can keep customers interested and possibly increase there number of customers. Many people know that it can be expensive for businesses to update technology so if a business is able to update its technology customers will be intrigued because they know that business is …show more content…
We also know that during winter it is very cold harsh conditions that Runway can focus on catering for customers. While during summer it is very humid and thus Runway is able to make a lot of money off potential customers as they will need a new wardrobe for summer.
We know that due to New York being so busy there is a lot of crime and so it is important for Runway to ensure that they have all their important documents stored away safely.
Theoretical component: Physical factors would be things like where the business is in the world, environmental factors that will affect the business and the population of the place where the business is. Issues such as crime would also fall into this factor.
When looking at where in the world the business is in we need to look at which country and then city the business is in. once that is determined we need to take into consideration the type of weather conditions that is experienced in that place and how this could affect the business in a negative or positive