Macro and Micro Environment About the West End in London
Macro and Microenvironment about the West End in London
Political forces -- the UK Government is eager to support the national industries to regain their status lost due to the economic crisis and the organizations in the West End of London could benefit from both financial as well as non-financial incentives
Economic features -- the current economic crisis is threatening the stability of the companies, but it also impacts its competition; economic recession can be a prosperous time provided that the environmental opportunities and identified and seized; the national currency remains among the strongest at a global level, meaning that international operations could also be extended without financial threats.
Socio-cultural forces -- demand from the population is reduced due to the crisis; however, the region is filled with tourist attractions that raise the interest of both locals as well as foreigners; the rich culture of the West End could be exploited to generate additional benefits.
Technological forces -- numerous technological advancements have been made that allow the organizations to increase their operational efficiency, market coverage, quality of products and services, all to lead in superior levels of profitability.
Legal characteristics -- the business legislation is continually modifying, often implying additional costs for the companies, which have to spend increased time and resources to understand and comply with the new regulations; examples could include new laws regarding fiscal pressure or advertising regulations.
Environmental features -- there is a growing focus on environmental concerns and a real trend in both society as well as legislation to deliver environmentally-friendly products and services. Ways in which these concerns could affect West End include financial pressure to purchase more energy-efficient technologies or to use organic commodities in their manufacturing processes.
Reference:
Website of the London West End, http://www.westendlondon.com / last accessed on May 26, 2009
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