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PEST Analysis
The Business environment is generally divided into four sections, these include the political, economic and social technological environment in which national and international organization operate at a specific level. The four different environments are often referred to as PEST and allow a PEST analysis to be conducted this allows the organization to review and consider the environment in which it operates. The four PEST factors have had a big influence and pressure on different organization, especially for those who are considered as a new entrant in the market.
Political
Firstly the political environment concerns the role of the government and its affects in an organization it also includes the extent to
which the government intervenes in the economy. The political condition in HK can be considered as an open market. In this manner, the government of HK is willing to accept new investors or company that will operate within HK. In addition, the government of HK also provides their own version of corporate policies which should be followed by different organization. In this manner, the pressure is on Global Cards in terms of ensuring that they always have legal actions in their business operations.
Economical
In this manner, it is important that the economy of HK must be analyzed. HK has one of the largest economies in the world in line with market exchange rates, it is also considered to be the largest in terms of purchasing power parity exchange rates, illustrating a high mark of income inequality and highest poverty rates than other large economies. Hence it can be said that there is a bigger opportunity for a new company to become successful in operating in HK. The continuously growing market economy of HK has been a good indicator that the new company will be known in the marketplace.
Social Condition
In terms of social condition, it can be said that the HK market is now maturing. The social condition of HK is known to have consumers who are willing to accept new entrants as long as it meets their needs for a certain product or service. The social condition of HK is also considered to be multicultural affecting the behavior of each target market.
Technological
In terms of technological aspect, HK has been able to utilize advance technology. This includes their acceptance of information technology especially for business operations. This aspect will give a new company like Global Cards to grow in the market and make use of state of the art technological facilities to enhance their product.
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