Week 2 Discussion - PESTEL

Week 2 Discussion - PESTEL

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This week’s reading assignment discussed six general environment factors that can provide important opportunities or threats to an organization.  Take the organization or firm that you are associated with or familiar with and discuss a general environment trend that has positive implications.   Further, identify which of the six elements of PESTEL are important to the organization?  Describe why?  Identify which of the six elements are not important?  Describe why?

The original post is due by Thursday, May 25, 2022, by midnight.  Responses to two classmates are also required and due by May 29, 2022, by midnight.  Users must post in order to see classmates' replies to this discussion.

FIRST CLASSMATE POST:

Collapse Subdiscussion Jas McDaniel

Jas McDaniel

YesterdayMay 25 at 9:03pm

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Collaboration is a general environment trend that will positively effect the creatives around the world including Ultramacs Music Group. In the future, the increase of collaboration will bring people together to boost creativity. This will help Ultramacs Music Group create with more advanced producers and artists to have greater impact, as well as work with other artists. An increase in technology will be used to develop this trend. Ultramacs music will be effected because collaboration will allow its artists to work with more skilled music industry personnel. They will not be limited by location and some budgetary restraints. Their recordings will be shared easier and their branding will be available to people wishing to work with them. An increase in customers will provide rewards. The most important PESTEL Acronym to me is technological factors. The internet is a business owner's best friend, allowing an owner to make more income and create more opportunities and connections. Some scholars say the internet is evolving to be the main source of trade. Legal is the least important because businesses should always maneuver within the law. The advantage of technology allows more freedom to protect themselves instead of using lawyers. There are ways to protect documents and information with security software. Contract, copyright, and patent documents can be found on the internet, if carefully reviewed. All acronyms of PESTEL create a company that is innovative and progressive.

SECOND CLASSMATE POST:

Week 2 Discussion-PESTEL-Raymond L. Bellamy Jr. 

When discussing general environmental trends that have a positive impact, technology comes to mind. Technology certainly has a positive impact. Having the use of technology has changed the way business is done. Technology enables businesses to grow. Because of technology, services can be performed quickly and with quality. Technology also allows a business to get the word out about their business quickly. In the type of business, I want to own, this idea will be very important. Social media will be a source that I use to get the word out. I would not be able to do that without the use of technology.

  In identifying one of the six elements of PESTEL that is important to the organization, I would have to say that the technological segment centers on improvements in products and services that are provided by science. Relevant factors include, for example, changes in the rate of new product development, increases in automation, and advancements in service industry delivery. As already mentioned, the use of social media will be vital for my business. That is why this element is the most important to me. 

The political segment would be the least important in my opinion for my business. The political segment centers on the role of governments in shaping business. This segment includes elements such as tax policies, changes in trade restrictions and tariffs, and the stability of governments. It is the least important because while it will be necessary for me to use it in some form, it is not a large part of what is needed to operate my business.