Importance of PEST Analysis

For this assignment, we focus on the London borough of Greenwich, located along the banks of the Thames River and known for its rich history. This analysis will use the PEST framework to examine Greenwich's plans and policies, particularly its investments in health and social care. The report will also explore strategies to enhance performance and achieve better outcomes. Finally, based on the research findings, recommendations will be provided to support positive results.

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What is Social Enterprises?

The social enterprises are those business organisation, who has a motive to perform the business for the purpose of providing benefits to local people. This are those organisation whose main motive to give benefits which will support individual to perform better. This are mainly incorporated for the purpose of fulfilling the social mission. While talking about Greenwich, it is required to understand that involvement of social enterprises and health care centres can become one of the way to bring better outcomes.

What is PEST and role of PEST analysis tool.

PEST is an analytical tool used to identify and evaluate external factors that could impact a business organization in various areas. PEST stands for Political, Economic, Social, and Technological factors. This tool helps understand the current situation in Greenwich by highlighting the external influences that may affect the area, thus providing solutions to address potential problems. By assessing factors such as policies and social issues, PEST analysis helps in formulating strategies to resolve these challenges. Below is a detailed description of the PEST analysis (Barbara et al., 2017). For those needing additional support with their research, seeking assignment help can be beneficial for a comprehensive understanding and analysis.

Political Factor: It is the external factor which has a direct or indirect impact on overall performance of any of the particular organisation. It is said that impact is mainly seen because of the political decision which are being taken by the organisation. Whenever any of the enterprises takes their decision it becomes crucial for them to consider the decision which are being taken by the political parties so that positive outcomes can be achieved.

Economical Factor: This factor has a direct connection with economical condition of a nation which has a link with interest rate, inflation rate, exchange rate and many more. This are some of the situation in economical factor which can create legal issues for the business organisation. So, looking at the requirement of situation, it becomes important that changes must be brought if positive results are required to be achieved.

Social Factor: The factor which has a influence with the choice and preferences and believes of local people is known as social factor. In any of the situation, it is necessary for any of the social enterprises to find out main preferences so that they can perform according to bes outcomes or to reduce negative impact.

Technological Factor: In current situation, this is among those factor which has a great influence. It simply explains that any of the enterprises is required to introduce latest technologies as it makes work easier and faster (Panina, Y. B., Stepanova, T. A. and Haustova, G. I., 2016) Even it will allow to attract more number of people towards the work being conducted by organisation which will allow to accomplish the targets in best possible manner.

Display five of your key research findings in a PEST table

In the current situation, the National Health Service (NHS) stands out as the largest social enterprise in the UK, dedicated to public welfare across various regions. The primary goal of the NHS is to provide medical services to local communities either at reasonable charges or free of cost. Despite its extensive efforts, there are still unresolved issues, and the NHS is seeking to implement changes to address these challenges.

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Below, there is detail information mentioned about the NHS and their role which they plays within the area of Greenwich so that they can sort out each and every issues which they are facing in current situation.

Write paragraphs about two of the key issues that you have highlighted

Political Factor:

Greenwich CCG has prepared the policies where one of the finest healthcare facilities will be provided in the upcoming years. For this purpose of providing the better health facilities, team has been formed whose major duty is just to focus that what are the area which is needed to be focused so that in any of the situation inequality of will not occur. But, doctors are not giving proper focus on their as they their major focus is to save money at the time of treating the patient. So, it will be equally important for the team which has been formed to focus that in any of the situation, chances of inequality should not be created.

Although new policies will be introduced which will directly allow to bring stability within the healthcare. While looking at this points, it is said that stability will be brought in but, it can incur huge amount of money for CCG. As it will incur huge amount of money it will not be necessary for CCG to review that how they can only bring limited changes in it so that people will not have to suffer in any of the circumstances. Where there will be limited changes in plans and policies, it will allow the people to understand the changes which will give better opportunity to accomplish the goals related to providing health facilities to public (Azami, M. and et. al., 2016)

Economical factor:

Employees and stakeholders of an organisation are most crucial part that leads individual to perform their work within effective manner. It also refers that all the task and operations which are performed by management relates with monetary policy of an organisation and a country. Rules and regulations developed in Greenwich that are followed by companies work with flexible approach due to which it is easy for business houses to perform their work in negotiable way. But it also generates issue for employees because management is not concerned about staff and workforce payment because organisation are dominate in power. So it create issue for employees by impacting on their morale and work performance.

Employment is first aspect for each country that leads individuals to generate more trust in an organisation. This refers that there are various task will be performed by government and top authorities of each industry such as sales and service of products, employment generation etc. Moreover, Greenwich is open for adoption of new business methods but international and local organisation favour to operate their operations outside country because it is generate less expense to complete operations. This results employment is not generated at high level for local individuals (Kelley, 2013).

Social aspect

Greenwich is important part for of London as within city perspective society and its residents are crucial part for a country. This determines it is essential for government, NGO and others to determine those areas which are prosperous and rich in potential aspects such as residential area of Greenwich is too expensive so most persons are living in rent. This also refers it is essential for government and its organisation such as CCG is performing their work to overcome from issue of living rents. Along with this it also helps to improve health standards of society by offering them comfortable living area at low prices.

Fixed and variable expenses is impacting on government and their residential areas because it is difficult to manage actual cost of operations due to uncertain expenses of organisation. This is also used by management to complete their work in minimum time period it also refers that educational institute, market expenses and operational cost of market impacts on residents. This govern CCG must perform their work through managing their expenses as per budget development. It results cost and investment value which is surplus for organisation is managed and invested for improvement of health care in society (Khan, M. and Damalas, C. A., 2015)

Technological factor

In the present scenario, there are various task will be managed by organisation with motive of performing their work performance. So technology is one of the most effective tool for company which is enhancing their area by utilising relevant data and information. Example- information and trends of recent years are easily predicted by government and its division to understand customer health. But the most complex factor for all respective terms is that cost is crucial aspect as technology and market is too dynamic so they are update in small periods due to which it directly impacts on profits of organisation.

In any of the situation, new technologies are helpful for CCG but, it will be necessary to understand that while using biometric information, chances will automatically increase for the purpose of misuse of information which are public. Here, laws should be introduced where any of the collected information should not be misused so that chances of obtaining better result will increase automatically. Even, only stored information should not be shared with any of the person in any of the situation because that can be one of the way which will allow to accomplish the goals in best possible manner.

Five recommendations based on your findings.

From the above discussion it can be summarized that Pest analysis is important to conduct (García-Gómez and et. al., 2014) . By doing so organization is able to compete with rivalry prevailing in the global market. Some of the recommendation based on the findings are as follows:

• In order to bring integration the local council need to invest more finance. By this best and quality services can be offered to the customers. This will help the organization to build positive image in the eyes of the customers because effective services are given to the people of the division associated to health care.
• Promoters need to be provided with conceptual, financial and emotional assistance. This is because it will directly or indirectly assist them in overcoming problems which are mostly faced by them.
• Distinguish sessions should be introduced so that all people can openly participate in it. By doing so feeling of equality can be raised among the people because they will be treated equally and fairly in the session.
• Experts are hired from outside in order to solve their grievances. By this feeling of discrimination among the people can be eliminated and they will be pushed to work better (Kalmar, E. and et. al., 2014).
• Equal opportunity is provide to the people so that feeling of discrimination can be eliminated and they are motivated perform their work effectively and efficiently. 

CONCLUSION

From the above it can be concluded that Pest analysis plays a vital role in making the business successful across the globe. Organization is able to better understand the political, economical, social and technological factor. By deeply understanding this factor organization is able to frame strategies in order to overcome issues emerged by them. It is important to examine the Pest analysis because it directly or indirectly assist in gaining competitive advantages against competitors which is a positive mark for the business in the intense competitive world. Firm is able to cope with it's rivalry prevailing in the international market because of pest analysis. It guide the business associates to make necessary changes in order to grow and flourish in the cut throat competitive world. If it is not conducted properly heavy financial losses need to be beard by the company as well as sustainability of business come on stake in the global market.

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