the major environmental factors impacting on an organization can be grouped under four headings: political/legal, economic, social/demographic and technological (PEST analysis). Giving examples from the annual report, discuss the impact of each of the elements in the PEST analysis on Philips.
Answers
As you learned in Unit 1, Session 3, the major environmental factors impacting on an organization can be grouped under four headings: political/legal, economic, social/demographic and technological (PEST analysis). Giving examples from the annual report, discuss the impact of each of the elements in the PEST analysis on Philips. (Use the Philips Annual Report 2020 | Philips Results) only 300 words
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Explanation:
For any organization it is important to fulfill all the environmental factors
Political factors are important as they can impact the sustainability and operations of the organization within an area. If the organization has not good political relationships then this can lead to some problems in terms of labor etc
Legal factors are important because a company cannot operate on illegal terms.
Economic factors demonstrate how much strength the company has to establish and maintain its business
Technological factors determine the ease or difficulty of business operations