Business enviroment Essay Example | Topics and Well Written Essays - 1750 words

stage business enviroment - Essay ExampleThe micro level or the task environs consist of the competitive forces and the environmental uncertainty and outside stakeholders of a business.The relationship of a comp both with its external environment is difficult. As such, it is of import for all types of companies to have an understanding of the way in which the external environment functions and changes. The external environment of any company is an essential driver of the success or failure of the company because they support the five primary(prenominal) objectives of any company which are survival, growth, profitability, efficiency and stability. The constraints and opportunities in the external environment of a business are significant factors that can repair a business. Also, the external environment is a multifaceted and dynamic environment which undergoes continuous change. So, in order to remain in competition and sustain, a company has to essentially study the external business environment in a regular manner.PEST synopsis is an important strategical management tool used by companies to analyse the external business environment. The PEST analysis includes an analysis of the political, economic, social and technological factors in the external environment that may directly or indirectly impact the survival, growth and profitability of a company.Bianchi will uses the PEST analysis tool to understand the political, economic, social and technological environment prevailing in the United Kingdom. The company can in any case use the tool to address the opportunities and threats in the external business environment of the United Kingdom bicycle industry. PEST analysis is a necessary analysis to conduct by any business when it plans to enter into a new market. Therefore, it is also necessary for Bianchi to uses the tool before taking decisions for expanding its business into the United Kingdom market. The existing situations in the external business environment can