Bharat Pestle

7/31/2019 Bharat Pestle

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Political factors are how and to what degree a governmentintervenes in the

economy. Specifically, political factors include areas such as tax policy, labour

law, environmental law, trade restrictions, tariffs, and political stability. Political

factors may also include goods and services which the government wants to

provide or be provided (merit goods) and those that the government does notwant to be provided (demerit goods or merit bads). Furthermore, governments

have great influence on the health, education, and infrastructure of a nation

Economic factors include economic growth, interest rates, exchange rates and

the inflation rate. These factors have major impacts on how businesses operate

and make decisions. For example, interest rates affect a firm's cost of capital

and therefore to what extent a business grows and expands. Exchange rates

affect the costs of exporting goods and the supply and price of imported goods

in an economy
http://en.wikipedia.org/wiki/Governmenthttp://en.wikipedia.org/wiki/Tax_policyhttp://en.wikipedia.org/wiki/Labour_lawhttp://en.wikipedia.org/wiki/Labour_lawhttp://en.wikipedia.org/wiki/Environmental_lawhttp://en.wikipedia.org/wiki/Trade_restrictionhttp://en.wikipedia.org/wiki/Tariffshttp://en.wikipedia.org/wiki/Merit_goodhttp://en.wikipedia.org/wiki/Demerit_goodhttp://en.wikipedia.org/wiki/Healthhttp://en.wikipedia.org/wiki/Educationhttp://en.wikipedia.org/wiki/Infrastructurehttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Interest_ratehttp://en.wikipedia.org/wiki/Exchange_ratehttp://en.wikipedia.org/wiki/Inflation_ratehttp://en.wikipedia.org/wiki/Cost_of_capitalhttp://en.wikipedia.org/wiki/Cost_of_capitalhttp://en.wikipedia.org/wiki/Inflation_ratehttp://en.wikipedia.org/wiki/Exchange_ratehttp://en.wikipedia.org/wiki/Interest_ratehttp://en.wikipedia.org/wiki/Economic_growthhttp://en.wikipedia.org/wiki/Infrastructurehttp://en.wikipedia.org/wiki/Educationhttp://en.wikipedia.org/wiki/Healthhttp://en.wikipedia.org/wiki/Demerit_goodhttp://en.wikipedia.org/wiki/Merit_goodhttp://en.wikipedia.org/wiki/Tariffshttp://en.wikipedia.org/wiki/Trade_restrictionhttp://en.wikipedia.org/wiki/Environmental_lawhttp://en.wikipedia.org/wiki/Labour_lawhttp://en.wikipedia.org/wiki/Labour_lawhttp://en.wikipedia.org/wiki/Labour_lawhttp://en.wikipedia.org/wiki/Tax_policyhttp://en.wikipedia.org/wiki/Government


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Social factors include the cultural aspects and include health

consciousness, population growth rate, age distribution, career attitudes

and emphasis on safety. Trends in social factors affect the demand for a

company's products and how that company operates. For example, anaging population may imply a smaller and less-willing workforce (thus

increasing the cost of labor). Furthermore, companies may change various

management strategies to adapt to these social trends (such as recruiting

older workers).

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Technological factors include technological aspects such as R&D activity,

automation, technology incentives and the rate oftechnological change.They can determine barriers to entry, minimum efficient production level

and influence outsourcing decisions. Furthermore, technological shifts can

affect costs, quality, and lead to innovation.
http://en.wikipedia.org/wiki/R&Dhttp://en.wikipedia.org/wiki/Automationhttp://en.wikipedia.org/wiki/Technological_changehttp://en.wikipedia.org/wiki/Barrier_to_entryhttp://en.wikipedia.org/wiki/Outsourcinghttp://en.wikipedia.org/wiki/Innovationhttp://en.wikipedia.org/wiki/Innovationhttp://en.wikipedia.org/wiki/Outsourcinghttp://en.wikipedia.org/wiki/Barrier_to_entryhttp://en.wikipedia.org/wiki/Technological_changehttp://en.wikipedia.org/wiki/Automationhttp://en.wikipedia.org/wiki/R&D


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Environmental factors include ecological and environmental aspects

such as weather, climate, and climate change, which may especially

affect industries such as tourism, farming, and insurance. Furthermore,growing awareness of the potential impacts of climate change is

affecting how companies operate and the products they offer, both

creating new markets and diminishing or destroying existing ones.

Legal factors include discrimination law, consumer law, antitrust law,

employment law, and health and safety law. These factors can affecthow a company operates, its costs, and the demand for its products
http://en.wikipedia.org/wiki/Climate_changehttp://en.wikipedia.org/wiki/Discrimination_lawhttp://en.wikipedia.org/wiki/Consumer_lawhttp://en.wikipedia.org/wiki/Antitrust_lawhttp://en.wikipedia.org/wiki/Employment_lawhttp://en.wikipedia.org/wiki/Health_and_safety_lawhttp://en.wikipedia.org/wiki/Health_and_safety_lawhttp://en.wikipedia.org/wiki/Employment_lawhttp://en.wikipedia.org/wiki/Antitrust_lawhttp://en.wikipedia.org/wiki/Consumer_lawhttp://en.wikipedia.org/wiki/Discrimination_lawhttp://en.wikipedia.org/wiki/Climate_change


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HOW WOULD YOU GO ABOUT::::::

1. Introduce What is entrepreneurship

2. What is Pestle Analysis?3. Why it is done and how it affects a business?

4. What is the line of business that you would be choosing? ( Take example of a

Fast food Joint small one in your home town)

5. How would you consider and integrate the factors of Pestle Analysis in the

business. In simple terms if we are to understand with an example In lucknow

usage of polythene is banned as an enviornmental measure of government. Ifyou have started a business of take away restaurant you have to think of an

alternative packaging material. Hence Pestle analysis helps you in analysing

your business from all aspects and helps you decide the feasibility, viability and

the course or recourse you want to take in a business.

6. The analysis of the business that you have chosen and the application of the

pestle factors can be tabulated as a quick reckoner or as a business checklist

7. The conclusion of the topic leads to a) viability of the business that you have

chosen and b) Significance of PESTLE as a tool in Entrepreneurship

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Bharat Pestle