After the last task where we completed a Sot analysis of ourselves today we looked at Mcdonalds. I found it a lot easier to complete this analysis and be objective as the subject wasn't me and I have no personal investment in the company. I want to have a look at the official SWOT analysis that was carried out on Mcdonalds in 2013. We completed a SWOT analysis with 3 points for each of the criteria.
mcdonalds is a worldwide established brand with branding that is instantly recognisable to a huge percentage of the world population. Most people know that Mcdonalds is unhealthy and quite possibly unethical in their practcices but choose to ignore these factors and still eat at their restaurants. There have been a number of documentaries and studies about the food at Mcdonalds that could easily have destroyed smaller companies. Mcdonalds has tried in recent years to make their food more healthy or at least appear as though it is. i think there has been a swing in trend towards healthy food in the last couple of years as there has been with exercise and Mcdonalds could do more to try and match this trend through their products. Mcdonalds has stores all over the world which provides income and promotes their brand, however a big change in political or economic structures could turn this expansion into a problem for them. This leads me on to the PEST analysis.
PEST analysis looks at current events and uses them to plan for the future. PEST stands for political, economic, technological and social. Political changes can have huge implications for business. We are currently in the middle of a huge change in government regulations with the recent Brexit vote. Trade negotiations could have a huge impact on businesses that import and export goods. I work for a small shop that mainly sells imported goods, so far we have had 3 price rises before and after the vote due to economic uncertainty. The PEST analysis is more complex than the SWOT analysis because the 4 criteria overlap a lot more. Political changes can have an impact on the economy, social factors and to a possibly lesser extent technology.
Social changes can have a huge impact on a business and it is important to understand not only the society we exist in but also how we are viewed by it to make the most of our position within it. We have to take account a huge number of aspects such as population size, religion, age ranges, lifestyle trends and consumer needs.
For many companies and practitioners it is important to keep up with technology. I work quite a lot digitally and have to keep up with the latest software and have to have equipment that can operate it. For practitioners that use more expensive equipment making the wrong choice could have huge implications. A company will have to try and forecast the lifecycle of a technology to know whether it will be profitable in the long run.
PEST analysis looks at current events and uses them to plan for the future. PEST stands for political, economic, technological and social. Political changes can have huge implications for business. We are currently in the middle of a huge change in government regulations with the recent Brexit vote. Trade negotiations could have a huge impact on businesses that import and export goods. I work for a small shop that mainly sells imported goods, so far we have had 3 price rises before and after the vote due to economic uncertainty. The PEST analysis is more complex than the SWOT analysis because the 4 criteria overlap a lot more. Political changes can have an impact on the economy, social factors and to a possibly lesser extent technology.
Social changes can have a huge impact on a business and it is important to understand not only the society we exist in but also how we are viewed by it to make the most of our position within it. We have to take account a huge number of aspects such as population size, religion, age ranges, lifestyle trends and consumer needs.
For many companies and practitioners it is important to keep up with technology. I work quite a lot digitally and have to keep up with the latest software and have to have equipment that can operate it. For practitioners that use more expensive equipment making the wrong choice could have huge implications. A company will have to try and forecast the lifecycle of a technology to know whether it will be profitable in the long run.
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