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Stratgeic Planning Essay

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Below is an essay on "Stratgeic Planning" from Anti Essays, your source for research papers, essays, and term paper examples.

The Business Environment                                                                                              
Social legal and political impacts on a business

   

Annabel Amoako
Workstation
St Mary's CE High School
Annabel Amoako
The Business Environment                                                                                              
Social legal and political impacts on a business

   

Annabel Amoako
Workstation
St Mary's CE High School
Annabel Amoako

A business will have many factors that will impact upon it. Political, legal and social factors are the three main factors that may impact a business. Businesses must operate within the rules and regulations of the law. If they fail to do so it can lead to fines and even imprisonment of directors. Businesses must therefore give a high priority to ensure they enforce with the law. Politicians make many important decisions and businesses must act in accordance with these decisions. These decisions involve making choices that may affect large numbers of people and businesses; this could include a new law. Over various time periods many changes could take place in the society which is relevant for businesses. These social factors could include demographic issues, changes in structure, religion, education and ethics.
Political factors  
Political factors are activities related to government policy and its administrative practices that can have an effect on something. Most business will keep a watchful eye on any political factor, such as new legislation or regulatory shifts, which could have a massive impact on how their company operates and run, because the business world is dynamic and rapidly changing, business can face problems from external factors which can affect products, policies, people and profits. To understand and evaluate external factors, companies undertake what is called a PEST Analysis. Political factors that could affect businesses include new...

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