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Mgt211 Assignment no 1 solution idea
04-29-2013, 03:40 PM (This post was last modified: 04-29-2013 03:42 PM by ✰˚CN˚Pearl˚✰.)
Post: #1
Mgt211 Assignment no 1 solution idea
Assignment:
Case:
Ali and Hassan are Master of Business Administration degree holders and
they want to establish a new business in Fast Food Industry in partnership
with the name AH Hot & Spicy Fast Foods. For this purpose, they made
analysis of different market situations of this Industry; also for their business
they analyzed different environments in which a business works that social,
technological, political and economic. They are full of team spirit and
having good technical skills and abilities to work and run the business.

After analyzing the market internal and external factors, they received basic
knowledge important for any new enterprise. Finally they decided to start
the business in Islamabad.
Requirement:
Perform a PEST analysis for AH Hot & Spicy Fast Food.
Note:
Your analysis should be based on facts about your city and you are also
required to mention the source of facts you will use for the PEST analysis in
this assignment. IT is also suggested that first you read material about PEST
:



Solution:
Comment of a student : MERY khayal mein thora sa PEST analysis ko explain krny k bad, is ko AH Hot & Spicy Fast food pe implement krna hai.. na k PEST analysis k 4 factors ko detail sy bayan krna requirement hai.
yani k wo kya kya POLITICAL,ECONOMICAL, SOCIAL, or TECHNOLOGICAL factors hai jo fast food k business pe aser andaz ho skty hain. for example Political Factor mein hum Hygienic factor ko bayan kr skty hain k Govt of Punjab k kya rules & regulation hain ik Fast Food restaurant k liye...ager ap ko google ya kisi or website sy ye mil jata hai k Govt ki kya strategy hai to wo mention krni ho gi with reference k kon si website pe ye fact diya howa hai. isi terhan baki factors ko describe krna ho ga...


IDEA:
Requirement:
Perform a PEST analysis for AH Hot & Spicy Fast Food.

Solution:


PEST analysis (Political, Economic, Social and Technological analysis) describes a framework of macro-environmental factors used in the environmental scanning component of strategic management.

Political factors are basically to what degree the government intervenes in the economy. Specifically, political factors include areas such as tax policy, labour law, environmental law, trade restrictions, tariffs, and political stability.

Economic factors include economic growth, interest rates, exchange rates and the inflation rate. These factors have major impacts on how businesses operate and make decision

Social factors include the cultural aspects and include health consciousness, population growth rate, age distribution, career attitudes and emphasis on safety.

Technological factors include technological aspects such as R& activity, automation, technology incentives and the rate of technological change.

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 affect how a company operates, its costs, and the demand for its products.The model's factors will vary in importance to a given company based on its industry and the goods it produces. For example, consumer and B2B companies tend to be more affected by the social factors, while a global defense contractor would tend to be more affected by political factors. Additionally, factors that are more likely to change in the future or more relevant to a given company will carry greater importance. For example, a company which has borrowed heavily will need to focus more on the economic factors (especially interest rates).


Political - What are the political factors that are likely to affect the business?
Economic - What are the economic factors that will affect the business?
Sociological - What cultural aspects likely to affect the business?
Technological - What technological changes that may affect the business?
Legal - What current and impending legislation that will affect the business?
Environmental- What are the environmental considerations that may affect the business?

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04-29-2013, 04:34 PM
Post: #2
RE: Mgt211 Assignment no 1 solution idea
Great Job emoticonemo

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04-29-2013, 05:12 PM
Post: #3
RE: Mgt211 Assignment no 1 solution idea
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04-30-2013, 07:05 PM
Post: #4
RE: Mgt211 Assignment no 1 solution idea
Great Job

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05-01-2013, 10:19 PM
Post: #5
RE: Mgt211 Assignment no 1 solution idea
SEMESTER SPRING 2013
INTRODUCTION TO BUSINESS (MGT211)
Assignment No. 01 Solution


PEST analysis stands for “Political, Economic, Social and Technological analysis” and is used for business and strategic planning, marketing planning, organizational change, business and product development and research reports.

Political Factors
A political factor relates to the pressures and opportunities brought by political institutions and to what degree the government policies impact the business. Political factors are basically to what degree the government intervenes in the economy. Specifically, political factors include areas such as tax policy, labor 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 and those that the government does not want to be provided (demerit goods or merit bad). Furthermore, governments have great influence on the infrastructure, health and education of a nation.
Government policies
Government term and change
Trading policies
Funding, grants and initiatives
Wars, terrorism and conflicts
Elections and political trends
Internal political issues etc.
Economic Factors
Economic factors relates to economic policies, economic structures and to what degree the economy impacts the business. Economic factors are basically 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
Local economy
Taxation
Inflation
Interest
Economy trends
Industry growth
Import/export ratios
International trade etc.

Social Factors
Social factors relates to the cultural aspects, attitudes, beliefs, that will affect the demand for a company's products and how the business operates. Social factors are basically 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. Furthermore, companies may change various management strategies to adapt to these social trends (such as recruiting older workers).
Advertising and publicity
Demographics
Media views of the industry
Work ethic
Brand, company, technology image
Lifestyle trends
Cultural Taboos
Consumer attitudes and opinions
Consumer buying patterns
Consumer role models etc.

Technological Factors
Technological factors relates to the technological aspects, innovations, barriers and incentives, and to what degree these impact the business. Technological factors are basically technological aspects such as R&D (Research & Development) activity, automation, technology incentives and the rate of technological 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.
Competitor technology development
Emerging technologies
Maturity of technology
Technology legislation
Research and Innovation
Information and communications
Intellectual property issues

GREAT QUALITIES OF A GOOD BUSINESSMAN
In the modern age we can see the various changes in the business field. Due to technological advancement it is necessary that a good businessman should possess the basic skill and knowledge about his business. Following are the important qualities of a good businessman:

Honest: - It is the first quality of a good businessman that he should honest and sincere in public dealing. There should be no fraud and commercial bribery in business. If he fails to perform his moral and religious responsibility then he can’t become a good businessman.

Efficient and Hard Worker: - A good businessman must be hard worker and capable of working for long hours. A lazy and inefficient businessman can’t compete the market. Without have working no business can be successful. If the owner is not hard working then other workers of the business can’t be hardworking.

Ability of Planning: - It is a basic quality of a businessman that he should possess the ability to plan his business. For example there are various decisions like what to produce? Where to produce? Which are made by the businessman? A good planner can only make the best decision.

Careful about Future: - A businessman should be careful about the future expectations. If he fails to estimate the future demand for his product then he will suffer a loss. If he has a foresight about the future then he can earn profit.

Ability of Financial Management: - A good businessman tries to meet the financial needs from internal and external sources. He uses the finance in such a way in his business that it gives him maximum profit. A successful business has a quality that he can manage the finance easily.

Ability of Innovation: - In the modern age new product attracts the customer easily. So a good businessman should have an ability to produce new goods and services according to his new ideas.

Research on Business: - A good businessman always pays proper attention to the research work. He also uses his experiences to minimize the cost of production.

Technical Skill: - A businessman should have specialized knowledge and technical skill for understanding and completing the process of production. If he has no technical skill about his business, he can’t become a good businessman.

Sympathetic Attitude: - A good businessman always loves his workers. He should be aware of the temperament, feelings and limitations of his workers. He should always take interest in the problems of his workers and try to solve them. They will also reply positively. It will increase the profit of the business.

Good Reputation: - In business dealings good reputation is assets for the businessman. A good businessman always improves his goodwill and expands the business.

Foresighted: - It is the most important quality for the successful businessman. A businessman must keep an eye on the future. He may be able to predict for future.

Cool Minded: - In competitive market for the success of business it is necessary that businessman should be cool minded and a man of balanced personality.

Dependability: - The successful businessman should have the capacity of dependability. He should use every effort to hold it constant and dependable, so that those who work under it know what to expect as it remains unfluctuating from day today. It keeps him much to win the heart of both customers and workers.
Responsibility: - A successful businessman should have to realize his responsibilities. If he doesn’t do his duty then his business can’t go well.

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05-06-2013, 09:51 PM
Post: #6
RE: Mgt211 Assignment no 1 solution idea

.docx  MGT211.docx (Size: 21.41 KB / Downloads: 18)

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05-07-2013, 02:23 AM
Post: #7
RE: Mgt211 Assignment no 1 solution idea
nice wisher and jiger both. ab

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