SPECIAL INSTRUCTION: This is a practical demonstration assignment you will need to do research to analyse new economic developments in the media that could impact on a business sector or industry. The articles researched must be collected over a period of 6 months. The articles or reports must be used through-out the activity.
Do the following:
1. Use a PESTEL and SWOT analysis to analyse the developments, the analysis must show:
a. How could the developments affect your industry or organisation?
b. Ranking to indicate the relative importance of the event or development?
c. The controversial issues relating to business.
d. How current political and legislative environments impact your industry?
e. What innovation developments in technology have taken place and how does it impact your industry?
f. Which of these developments do you think would benefit your industry and should be investigated further?
g. How the events and developments affect the political, economic, society, technology, environment, and legal aspects.
h. The impact of HIV/AIDS affects the industry or business and what is being done in your organisation to manage the impact.
In order to complete this assignment, you will need to start by collecting articles from various media sources over a period of 6 months. Look for news related to economic developments that could potentially impact your industry or organization. Once you have gathered enough articles, you can start the analysis using the PESTEL and SWOT frameworks.
PESTEL Analysis:
1. Political Factors:
- Look for news related to changes in government policies, regulations, or political stability that could impact your industry. Analyze how these political factors could affect your business operations.
- Rank the importance of political developments based on their potential impact on your industry.
- Identify any controversial political issues that could affect your business.
2. Economic Factors:
- Examine news related to economic trends, inflation rates, interest rates, and other economic factors that could impact your industry.
- Rank the importance of economic developments based on their potential impact.
- Consider how current economic conditions could affect consumer spending and demand for your products or services.
3. Social Factors:
- Look for news related to societal trends, demographics, lifestyle changes, and cultural shifts that could impact your industry.
- Rank the importance of social developments based on their potential impact.
- Consider how changing social attitudes and behaviors could affect your target market.
4. Technological Factors:
- Analyze news related to technological advancements, innovations, and disruptions that could impact your industry.
- Rank the importance of technological developments based on their potential impact.
- Consider how emerging technologies could change the way your industry operates.
5. Environmental Factors:
- Examine news related to environmental regulations, sustainability initiatives, and climate change that could impact your industry.
- Rank the importance of environmental developments based on their potential impact.
- Consider how environmental concerns could influence consumer preferences and industry practices.
6. Legal Factors:
- Look for news related to changes in laws, regulations, and legal challenges that could impact your industry.
- Rank the importance of legal developments based on their potential impact.
- Consider how compliance with legal requirements could affect your business operations.
SWOT Analysis:
- Based on the PESTEL analysis, identify the strengths, weaknesses, opportunities, and threats facing your industry or organization.
- Consider how the developments highlighted in the articles could impact each aspect of the SWOT analysis.
- Determine which developments present opportunities for growth or improvement, and which pose potential risks or challenges.
HIV/AIDS Impact:
- Research the impact of HIV/AIDS on your industry or business sector.
- Analyze how the disease could affect employee productivity, healthcare costs, and overall business performance.
- Evaluate what measures are being taken in your organization to manage the impact of HIV/AIDS, such as education programs, health benefits, and support services.
Overall, this assignment requires you to thoroughly analyze economic developments in the media using the PESTEL and SWOT frameworks, and to consider how these developments could impact your industry or organization. By following the steps outlined above and applying critical thinking to the analysis, you will be able to gain valuable insights into potential opportunities and challenges facing your industry.