The innovator need not necessarily be a technical genius, but he must be able plant the attitude of innovation and nurture it. Overall, law imposed new demands on the fast food industry. Technological Factors In the 1990s Pizza Hut has the largest profits in the industry. Technological Factors The technological factors play a very crucial as well as the vital role in the business of global food chains like Subway. Moreover, the attack on junk food led to people adopting low calorie foods. Political Factors There are certain political factors that need to be kept in mind while considering the performance of international food chains like Subway. The idle time of the customer was reduced.
And, like any business in the food industry, Subway must abide by political factors. Despite the rising health consciousness in society, the industry has shown healthy growth. They have the funding necessary to use strategic planning in order to lower taxation impact without violating political laws. In 2025 it is expected that the market will be expecting something really quick and fast food is one of the options to move forward. Technology can reduce cost but can also reduce customer experience and owners must be aware of this and find a correct balance. What will happen if you have one undocumented worker? Coca-Cola is a global business that operates on a local sale in every community that is does business in.
An early win is not the end of a journey Kotter, 1995, p. Singapore government encourage overseas investor to set foot and do business in Singapore. The business can then carefully consider its options and what strategies it needs to implement to gain maximum results. They also affect marketing and advertising of the brands. So the increasing number of busy people in a social fabric will directly impact Subway.
At the same time, design must complement food preparation and service. Company analysis includes a history of the company. Statistics and results show that there is always the threat of new competitor. The improvement of the inventory system as well as its supply chain allows the company to operate in an international context Ivythesis, 2011. Sustainability too became an important requirement for the entire industry.
However, it is not just the health trends; other trends have also affected the industry. Tax rates could affect the growth of the organisation. These factors directly impact Subway. Answering questions and showing off new promos was once only possible through print and commercials. The other environmental factors include the initiatives taken by the food chains to promote health awareness and other good norms among people to save food. Annual report, Business intelligence, Financial statements 1132 Words 5 Pages This paper outlines the benefits of environment influence on business.
They plays a part of Singapore economy when they come over Singapore to study. Businesses do not just depend on the quality of their products to achieve sales. Describe the political factors which could affect your product Describe the economic factors which could affect your product Describe the social factors which could affect your product Describe the technological factors which could affect your product Use textbooks and the internet to help with the theory. The social perception of health has changed vastly. About the Author Heather Skyler is a business journalist and editor who has written for wide variety of publications, including Newsweek. Technology is also used to collect the franchise fee of 8% through the use of cash register data.
It consistently looked to improve its product range. The government wants to check the quality of the food and ingredients, which are used in preparation of food as the cholesterol can affect health of people and they can become suffer from obesity and other stomach issues. People go to a restaurant for a social environment and this environment is what sets successful restaurants apart from one another. Certain restriction has very strong influence in the operation of the organisation. It currently operates over 1600 flights per day to 180 destinations in 29 countries. Apart from this the regulation policies for the business also play a prominent role in setting up the business in the locality. It includes not just fast food, but snacks and beverages and all other foods.
Economic Factors The overall economic system of the state of the region in which the outlet of the Pizza Hut is working plays a vital role and laid a direct impact on the organizations. The legalities laid a binding impact on Subway. Apart from producing monetary gains, innovation provides a greater scope for the organisation to deal with. To benchmark with organisations that have succeeded as a result of change and innovation and replicate their success JohnKotter, 2011. Just complete our simple and you could have your customised Business work in your email box, in as little as 3 hours. There are different factors which influences the business in 21st century.