Essay
Unit 1 - D2 - The Business Environment
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Essay of 3 pages for the course Unit 1 - The Business Environment at HSFC (Unit 1 D2)
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Xhuljan Vuthaj 44975Unit 1 D2
D2: Evaluate how future changes in economic, political, legal and social
factors, may impact on the strategy of a specified organisation.
Introduction
In this piece of work I will be evaluating how the political, legal and social factors
will have an effect on an organisation. Successful businesses are always one step
ahead and preparing for the future and how changes in the future can affect
them so that they can be ready for any changes in political, legal and social
environments so that they can cater for their customers. They will need to create
a plan and strategy and also gain valuable market research so that they are
prepared for the future in the best way possible. The organisation that I will be
referring to in this essay will be Tesco.
Political
The world is currently concerned with the topic of global warming as the earth is
warming up every year and this is causing environmental problems. Due to this
the government will be introducing different measures to help combat global
warming, with these measures affecting Tesco directly. Tesco who offer many
services will feel the new measures on their car insurance services and petrol
pump stations as these two are directly concerned with global warming. As the
government start implementing stricter
rules on CO2 emissions and oil companies
try to cut down on CO2 emissions as well,
this could lead to an increase in the price
of petrol and diesel which could have an
impact on Tesco because consumers may
opt to use other means of transport. This
will also impact their car insurance
services because the less people are
driving the less amount of people may be
buying car insurance. Tesco will have to
be prepared for this and will need a plan
for the future when less people are likely to be using a car for transport and the
government may start increasing the taxation on petrol. I believe that this
political factor will be a huge blow to Tesco as they may lose out on a service
which is worth billions of pounds, and also many other services which are linked
to petrol. Closing down some of these petrol stations may be an option for Tesco
so that they can save on costs in the near future. They could introduce cheaper
car insurance to still try and lure in customers so that people still buy cars.
Social
Ageing population will be an obvious change to the social environment in the
future as people are living longer than they were 50 years ago due to
advancements in health care and medication. It is estimated that by the year
2040 the elderly population (60 and over) are expected to be at a figure of two
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