Question

Environmental Analysis of Target Corporation

What changes in each are are positively or negatively impacting the business?

Economic:

Socio-cultural:

Technological:

Political:

Legal:

Cooperative:

Answer 1

• ECONOMY:The economy travels through so many ups and downs.If the economy rises ,there will be a hype in business,and if the economy drops,business also will drop.The economic changes that affect includes interest rate,inflation rate and wage rate.
• SOCIO CULTURAL :The changing tastes,culture,fashion will affect todays markets to a great extend.The social and cultural factors that affect the business are Lifestyle,buying habits,Education level etc
• TECHNOLOGY:This will greatly affect businesses. The growing technology offers risks and opportunities to the company.Some companies may benefit from this,ie,they will utilize the technology to increase their business by inventing new products.
• POLITICAL:This will greatly affect business.If a rule is passed to improve the wages for workers ,they should do it.Or if a law is passed to shut down an industry,then it should be obeyed.
• LEGAL:There are various legal factors ,that affects business.They are,organizational,securities,environmental,contract,commercial,immigration,consumer protection,tax etc
• COOPERATIVE:This is a type of business,which is owned and controlled by the members,and the benefits,services and products are taken by the members.Their main idea will be to meet deficiency of a particular product in a particular market.