Answer To: You work for a company in Australia as a Business Development Manager. Your company is exploring...
Robert answered on Dec 23 2021
Running Head: PESTEL ANALYSIS 1
PESTEL Analysis
Running Head: PESTEL ANALYSIS 2
Executive Summary
The organizations face profound pressures in the market that increase the need to
improve existing marketing systems and procedures that could help the organization to hold the
changes in the external business environment. This situation could also be changed, if the
organizations are going in the new marketplace or a new country. It is because that the elements
and factors of the external business environment make the significant pressure over the business
environment because of the technological advancement, economic, governmental and social
systems.
In this context, the PESTLE analysis would also help the business development managers
analyze the current business situations in the new marketplace such as Colombia to gain the
profits and reduce the risk. This paper would also help the top decision makers of the
organization to take decision about the business environment of new market and it would be
profitable for the organizations or not.
Running Head: PESTEL ANALYSIS 3
Introduction
As a business development manager, it is my responsibilities to provide the complete
information to the organization about the country in the context of its political environment,
technological environment, economic conditions, industrial rules and norms and other related
terms, which could influence the business of the organization. In this context, the selected
country is the Colombia (Economy Watch., 2013). It is because that the country has enough
opportunities, which help to grow and develop the business of the organization without any
problem. Hence, in this context this paper would provide the PESTLE analysis, which could help
to know about the business environment in the country and its effectiveness for the business of
my organization.
PESTLE Analysis for Colombia
Political Factor: Initially, the country was less effective for the organizations because of
the less cooperative help of government and the employee unions. There were several other
elements, which was increasing the risk to the new business organizations in the market. Hence,
the administration of Juan Manuel Santos improves the political systems of the country. The
political administration of Colombia is now more effective that creates the huge chances to the
business organizations to expand its business.
Due to the strong political approach, the government is also working in the economic
development of country, reduction in the poverty level and growth in the jobs. The government
is also working to provide 2.5 million employment till 2014 to lift the 3 million people from the
below poverty line (Economy Watch., 2013). It means, the political environment would impose
some pressure over the organization in the context of working hour, minimum wages, facilities at
the workplace and healthy work environment.
Running Head: PESTEL ANALYSIS 4
Economic Environment: Colombia has a sound fiscal policy that improves its rating by
Fitch and Moody. The economy of Colombia has also grown by 5% from last decade and it is
estimated 5% for the financial year of 2013. Colombia has a large poverty level that also makes
the inequality among the people in the context of the income. The inflation rate in Colombia was
2.3% in the last financial year (Economy Watch., 2013).
Colombia has also the highest unemployment rate that was 10.3% in the last...