Good Taste Limited is a growing fast-food chain store in Hong Kong. The company is very successful in Hong Kong and would like to expand their business into other countries soon. You are the...

1)
Introduction to concept of Globalization:
Globalization is the process through which the world integrates people, businesses, governments of various countries on different parameters surfacing the context of technology, goods, culture, intellectual ideas. Here the process indicates the idea of sharing all the possible resources one have with other, so that finally on(Stulz,1999) interacting with resources they can generate the final product, which eliminates the problem of abundance and scarce of the resource although the end goal might be making profit of the exchange of resources. There are majorly three different types of globalization. They are economic globalization, cultural globalization and political globalization. Here the word economic globalization defines the growing or spreading dependencies of the nations with economies like cross-border trading system, international capital flow and mostly the broader and spread of technologies. Cultural globalization refers to the transfer of ideas, ethical values in order to intensify the relations, bonding which leads in strengthening the social togetherness. This usually can be achieved mostly through social media and international visits or travelling can(Czaban,1998) help achieving this. When the world adopts economic and cultural globalization the interdependencies automatically pave certain ways to grow political relations which involves in developing the political relations worldwide. This starts the relation among the self-government and the inter-government. One of the important factors is inter-regional transactions. The global geopolitics develops the legal culture of globalization as it is anchoring the direct issues of different nations. There another factor subs the economical and the political globalization is the trade globalization as the ultimate final outcome intent of any country to create new business opportunities for the self-country with nations in the world. In the trade globalization the outcome of the success is calculated upon the fruitful exports and imports between the countries which creates greater economical GDP to the self-nations. The country’s globalization is nothing but the ratio of the sum of imports and exports to the GDP. So GDP plays a very important role in enhancing the country’s economy.
2)
Driving Factors of Globalization:
· History
The history always revolves round the present and future serving as a reference point to help achieving the targets. The routing of the nations is a important key aspect to connect the countries which helps in connecting the(Meyfroidt,2013) countries. Start having the well planned route connecting the nations. Usually neighboring nations are usually in hand to have the trading context for their economical profits. Near distance to the consumers will always give the countries greater benefits an also easy to share the trading culture among them. Which also paves a different of achieving wise globalization.
· Economy
The cost of the goods and the values to the consumers or the end user outputs in the movement of goods and adding the values. The overall economics of certain industry or trade is an important factor in globalization. This results in purely bonding the trades having the economic factors like resources, time, labor and capital to invest in a business.
· Resources and Markets
The natural resources like coal, oil, gas, human resources, water etc, make an important contribution in achieving globalization.
· Issues regarding Production
Using of built up capacities of production, slugging in the domestic market and the overproduction makes the manufacturing(Lambin,2011) company look outward and go global. The development of overseas markets and manufacturing plants in autos, four wheelers are the classic instances.
· Political
The political issues of a country make globalization channelized as per the political authorities. The regional trade understanding or the agreements determine the scope of globalization. Trading in European Union and SAARC might the best suitable examples.
· Industrial Organization
The technological development in the areas of production, product mix and the firms are helping organizations to stretch their services and the procurement of sub-assemblies and components have a strong influence in developing the globalization process.
· Technologies
The step of technology in a certain field enhances the export of products or the services from one country to another country. European countries like England and Germany exported their chemical, electrical, mechanical plants 50s. India is exporting computer/software related services to the advanced countries like UK, USA etc.
Globalization has been modifying or changing the food we eat every day. It is also changing the process of eating the food in our day today life, which directly or indirectly imposed greater changes in our lifestyles. For example, most of the nation adopts the food culture of neighboring countries. Which the people adopt during travelling. Sometimes people who relocate the places for work either adopt the country’s culture or else produce the new culture in the existing environment. This all take place as people get tired repeating the process and need to have a different tangent helping them look the world different by having different tastes. This impacts the food supply chain thereby having the change in the quantity, type, cost and desirability of foods available in the market for the daily consumption. In traditional nations like India, the effect of food cultures directly impacts their religion mapped with different threads of customers. Advancements in transportation and communication technology have contributed to the growing globalization of food and beverage industry. Companies like McDonald’s and Coca-Cola have grown from national brands to worldwide icons, while North American consumers have gained access to brands from around the world. The global reach of the food and beverage industry has presented businesses with greater opportunities. The interests of the different nation people might be aligned in the same page. Therefore, the interests of the common native people always seem to be similar which paves an important factor in developing the model in the other nations.
3)
PESTEL analysis of the organization:
PESTEL analysis is a tool by which the organizations macro environment is being analyzed and gives an overview of how it affects the organization in a border perspective. An organization needs to be aware of this factor in order to have a sustainable business in market other that the host country. Good taste limited has been planning on expanding their business and PESTEL analysis will help them to develop a strategic method to enter the market.
Political:
Organization has to be very(Baylis,2017) careful about the political aspects of the entering market and how the business thrives in the market. Adhering to all the policies and also making connection through political reach will be a good practice for the expansion. Many leaders and competitors will be trying against the expansion and all these issue needs to be handled properly. Understanding the dilemma and how the customer like the food to have should be also discovered.
Economical:
Organization also need to formulate(Prasad,2005) their resource strategy and also know about the entering market. Knowing about the economy of the country to expand the business will give and insight about the pricing of the food products. Also it will help set expectation for the business from the country, and provide customers with better quality.
Social:
Social factor is one of the important factor in developing of a business. Organization need to understand how much they are(Jenkins,2005) welcome to the new market. How the consumers perceive them and their style of food? All these factor determine how will the response of the consumers will be for their product and services will be, and what innovation and improvements need to be done to attract customers.
Technological:
Technological advancement is happening in today’s world at the blink of an eye and customers are enjoying advancement through various services offered to them. Technology has opened up the possibility of working at getting things at your home at ease. Good taste also need to be upgraded with the latest innovation and can use application to onboard more number of customer and increase their visibility.
Environmental:
This factor determined how(Panayotou,2000) much the country is focused on keeping environment clean and also for the organization on what is their strategy of maintain the environment, with no lag in service. Good taste company need to deliver its food to customer at their door step...