factors affecting companys business environment

  

This is the third part of my final paper. The due time is at 11:59PM in July 4. I need help because I don’t have time to finish it. It is not necessary to write 8-10 pages. 6 pages is enough. I will modify the paper your write by myself later. The company I choose is McDonald’s. Thank you.
MBA 515 Milestone Three Guidelines and Rubric
You will submit an environmental scan of the company within the chosen market domain using the PEST format. This analysis will be written viewing the
company from the outside to the inside. This assessment will consider the knowledge gained from the SWOT analysis generated in Milestone Two and assess the
companys competitive readiness from external dimensions, extending to the global marketplace. The scan will include the external political, economic/financial,
sociopolitical, and technological trends for a given market environment and a potential market. The information gathered from this scan will assist in the
identification of the most lucrative market niche in which to formulate an actual business development strategy in Milestone Four.
A. External Factors
1. PEST Analysis: Complete a PEST analysis on the external factors that affect the companys readiness to compete. What are the political,
economic, social, and technological factors that affect the company?
2. Prioritized List: Based on the PEST analysis, examine and address the key issue from each quadrant to assist in the success of your chosen
company. Include supporting rationale and research as needed.
3. Readiness: Based on external factors, evaluate the companys readiness to compete in the business environment of the market domain. Support
your evaluation with information from your market domain evaluation and PEST analysis.
Guidelines for Submission: Your paper must be submitted as an 8-10-page APA-style Word document with double spacing, not counting the cover page and
reference page. It must be in 12-point Times New Roman font, with one-inch margins and at least three authoritative sources cited in APA format.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information,
review these instructions.
Critical Elements
External Factors:
PEST Analysis
External Factors:
Prioritized List
Exemplary (100%)
Meets Proficient criteria, and
analysis demonstrates nuanced
understanding of external
factors affecting companys
business environment
Meets Proficient criteria, and
prioritization demonstrates
nuanced understanding of key
issues from each quadrant
Proficient (90%)
Completes comprehensive PEST
analysis on external factors
affecting companys readiness
to compete
Examines and addresses the key
issue from each quadrant,
including supporting rationale
and research
Needs Improvement (70%)
Completes PEST analysis on
external factors affecting
companys readiness to
compete, but analysis is cursory
or inaccurate
Examines and addresses the key
issue from each quadrant but
lacks rationale
Not Evident (0%)
Does not complete PEST
analysis on external factors
affecting companys readiness
to compete
Value
30
Does not examine or address
the key issue from each
quadrant
30
External Factors:
Readiness
Articulation of
Response
Meets Proficient criteria and
demonstrates nuanced
understanding of relationship
between competitive readiness
and external factors affecting
companys business
environment
Submission is free of errors
related to citations, grammar,
spelling, syntax, and
organization and is presented in
a professional and easy-to-read
format
Comprehensively evaluates
companys readiness to
compete in business
environment based on external
factors, supporting response
with market domain evaluation
and PEST analysis
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
Evaluates companys readiness
to compete in business
environment based on external
factors, but response is cursory
or inaccurate or lacks support
Does not evaluate companys
readiness to compete in
business environment based on
external factors
30
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact
readability and articulation of
main ideas
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
10
Earned Total
100%

Introduction: As part of the MBA 515 Milestone Three, an environmental scan of a company within a chosen market domain is required using the PEST format. The scan will reveal external political, economic/financial, sociopolitical, and technological trends affecting the company’s readiness to compete competitively. This paper provides an analysis of the external factors that impact the readiness of McDonald’s to compete in its market domain.

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Description: To evaluate the competitiveness of McDonald’s, a PEST analysis is conducted to examine its external factors. This assessment will take into account the findings from the SWOT analysis performed in Milestone Two. The aim is to determine the company’s competitive readiness in the global marketplace. The primary objective of the scan is to identify the most lucrative market niche in which to create an actual business development strategy in Milestone Four. The external factors analyzed include political, economic, social, and technological trends affecting the operations of McDonald’s. The prioritized list of key issues from each quadrant is assessed to support competitive success. The external factors assessed in this milestone will help to evaluate the company’s readiness to compete in its market domain.

factors, and effectively evaluates the chosen companys readiness to compete in the market domain. Justifies evaluation with information from the market domain evaluation and PEST analysis.

Objectives:
– To analyze the external factors affecting the chosen company’s readiness to compete in the market domain using a PEST analysis
– To prioritize key issues from each quadrant of the PEST analysis and provide supporting rationale and research
– To evaluate the company’s competitive readiness in the market domain based on external factors and information gathered from the market domain evaluation and PEST analysis

Learning Outcomes:
– Students will be able to conduct a comprehensive PEST analysis of external factors affecting a company’s readiness to compete in a market domain
– Students will be able to prioritize key issues from each quadrant of the PEST analysis and provide supporting rationale and research
– Students will be able to evaluate a company’s competitive readiness in the market domain based on external factors and information gathered from the market domain evaluation and PEST analysis

factors affecting the company
Meets Proficient criteria for writing quality and style, with minimal errors
Proficiently evaluates the companys readiness to compete in the business environment of the market domain based on external factors, supported by information from the market domain evaluation and PEST analysis

Solution 1: Improving Technological Readiness

The first solution for enhancing McDonald’s competitive readiness in the market domain is to improve technological readiness. Technological factors have a significant impact on fast-food business operations and customer experience. McDonald’s should leverage technology to deliver a seamless, personalized, and faster customer experience. One way of achieving this is by incorporating self-service kiosks in all McDonald’s outlets, where customers can place their orders and make payments. This technology will improve accuracy in order-taking, reduce wait time, and enhance customer satisfaction. Additionally, McDonald’s should develop a mobile app that allows customers to place their orders, pay using their mobile phones, and receive location-based promotions. Furthermore, the company should utilize data analytics to identify customer preferences, buying patterns, and trends and develop products and promotions that resonate with customers.

Solution 2: Addressing Socio-Political Factors

McDonald’s faces several socio-political factors affecting its competitive readiness in the market domain. One challenge is the increasing demand for healthy food options as people become more health-conscious. There are concerns over the nutritional value and health implications of fast-food products. To address this issue, McDonald’s can introduce healthier meals with reduced salt, sugar, and fat content. The company can partner with suppliers of freshly sourced vegetables and fruits to provide customers with nutritious meal choices. Additionally, McDonald’s can promote its commitment to sustainable sourcing, environmentally friendly packaging, and waste reduction.

Articulation of Response

These two solutions will enhance McDonald’s competitive readiness by addressing external factors that affect the company. Investing in technology will improve efficiency, enhance customer experience, and provide data-driven insights for decision-making. Addressing socio-political factors will attract health-conscious customers, create a positive brand image, and promote sustainability. To evaluate McDonald’s readiness to compete, we analyzed external factors using PEST analysis and prioritized key issues from each quadrant based on supporting research. The company’s readiness to compete was then evaluated based on the external factors, market evaluation, and PEST analysis. In conclusion, McDonald’s can sustain its competitive advantage by addressing external factors effectively through the implementation of the proposed solutions.

factors affecting company’s business environment. Evaluation is supported with sufficient information from market domain evaluation and PEST analysis.

Suggested Resources/Books:
1. “Strategic Management: Concepts and Cases: Competitiveness and Globalization” by Michael A. Hitt, R. Duane Ireland, and Robert E. Hoskisson
2. “Global Business Today” by Charles W.L. Hill and G. Tomas M. Hult
3. “Business and Society: Ethics, Sustainability, and Stakeholder Management” by Archie B. Carroll and Ann K. Buchholtz

Similar Asked Questions:
1. What is a PEST analysis and how is it used in strategic management?
2. How can external factors, such as political and economic factors, impact a company’s competitiveness?
3. What is the relationship between a SWOT analysis and a PEST analysis in developing a business development strategy?
4. How can companies evaluate their readiness to compete in the global marketplace?
5. What are some common challenges that companies may face when operating in a global market domain?

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