Technology has come a long way, from delivery messages by horse to just picking up a cell phone. Technology is becoming a major role in all aspect of our modern lives. Typically, the effects of technology can be seen in economics around the world. Advances in technology can be linked to increases in manufacturing that affect the country’s Gross Domestic Product (GDP) and creating jobs to help lower unemployment. While a lot of technological advances are in regards to process improvement like industrialization that seems to eliminate unskilled positions, technology helps produce other skill positions that offer higher pay and better opportunities.
It is proud of its cultivation of opening up a multitude of experiences and opportunities for people from all walks of life. Further, it prides itself on offering several business advantages to include: a strong balance sheet, sound management, and a record of industry leadership. Marriott describes its business model, brands, senior leaders, and deeply-ingrained service culture as having firmly established Marriott as a leading performer (2013, para 1-2). Another source describes Marriott International as a company that takes pride in the fact that they have always taken care of their customers and employees above all else, living up to their slogan of “People First” (Addonizio, Mathos, Khalil, & Ortiz, F., 2012, para 1). Essentially, Marriott has gone to great lengths to focus their business efforts and strategy on providing the best working environment and hotel stay for employees and customers alike.
WE ACT WITH INTEGRITY. By saying this, all the actions taken by the company are conducted in a way that they cannot compromise the ethical and legal standards, with a deep commitment to the human rights, social responsibilities, environments and employee policies. WE SERVE OUR WORLD. Marriott International focuses on 5 global issues such as poverty alleviation, the environment, community workforce development, wellbeing of children, global diversity and inclusion. WTF - Refrencing:http://www.marriott.com/culture-and-values/core-values.mi “We solve our world” Our ‘spirit to serve’ makes our company
“We act with integrity”, they never reach a compromise with ethical and legal standards. “We serve our world”, Marriott organizations focus on supporting and serving the communities where they live. They usually pay attention to the five social issues: poverty alleviation, development of community workforce, the wellbeing of children, the environment, and global diversity and
Meanwhile, external assessment focuses on the deeper analysis of political, economic, social and technological which is affecting the missions and vision of a company. Situation assessment is a systematic process that includes collecting the data, making analysis towards the information
PEST Analysis is a tool that helps to analyse the environment and constraints that are placed on developing and implementing an e-business strategy from outside the business. It is an acronym for Political Economical Social and Technological factors. 2.2.1 Political The major political factors affecting H&M are restrictions on imports and exports and relocation of production facilities since the company has chain stores in different countries. There is also a restriction on shipment of goods which is a concern for H&M. Relocation of manufacturing and outsourcing continues to be a contentious issue as companies seeks to maintain profit margins and reduce costs as well as receive incentives to locate production in specific areas.
Topic 5 2015-2016 1 Different approaches to international business negotiations and various practices to gain successful Mohja Loussif, International Business Negotiations, EMUNI One of the most difficult and important tasks facing international managers is negotiation. International negotiation is very complex and difficult because it involves different laws, regulations, standards, business practices and above all cultural differences (Fatehi, 2008). From the previous assignments and topics treated before, we have learned that companies need to know how to negotiate effectively to succeed in the international business world. However the same negotiation style may not work in other environment. That‟s why it is important not to allow cultural
PESTLE Analysis Political : Political factors internationally have effect on Starbucks businesses and their profits . Taxes to business environment is affected by politics, but the main political factor is about sourcing the raw materials and so it has gathered a lot of attention from politicians from the source countries. For the reason company wants to obey the social and environmental standards also there is a deep link between political and economic stability. More the politically stable the nation is the more economic environment. They also have tax policies and regulatory pressure on them.
(Figure 2.4.2, PEST analysis, Source: www.marketingteacher.com, Adapted by Research, 2017) PEST represents for Political, Economic, Social and Technological. This analysis is used to assess these four external factors in relation to the business situation. A PEST analysis helps the management determine how these factors will affect the business performance and activities in the long-term (George and Kamel, 2015). Limitations of PEST Analysis 1. The external factors considered in PEST analysis are dynamic and complex, which causes difficulties for organizations to predict how and why these factors will influence the business at present or future (Thompson, 2001).
Technology important for the production and also can impact the decision making of the organisation. Due to the advance technology, the people can solve the problem easily. The example for technological is the customer can do any transaction at their ease through the online system that has created by Maybank. This will save their time and money without going to the Maybank. Besides the technology factor, legal factor is also the factor that have in the PESTLE analysis.