Individual Business Research Report

Introduction

Political and social environment, as the macro environment of any business, considerably have an impact in the international and global business spectrum. In this paper, it discusses about the basic nature of international and global business, exploring into the external environment influences using the Political, Economic, Socio-cultural, Environmental and the Likely Future Trends (PESTEL) analysis. The PESTEL analysis, despite of it not being able to capture all the complexities of the external environment, it can still aide the firm in the development of an appropriate strategic framework. Further, it seeks to discuss the future developments of the international and global business, with emphasis in the political and the social environment.

PESTEL Analysis

Political

The political influence generally includes the stability of the government, policy of taxation, regulations of the foreign trade and social welfare policies. In this paper we would look into how the international and global business should adopt and fit in into the political arena, particularly in the country that holds a capitalist political ideology, and in the imposition of tax law. The capitalist is descriptive of the country sparing some parts of its economic activity to local citizens. Foreign-owned firms, in this regard, generously offer a tempting target for local politicians, and such that, firms already operating in a foreign country braces an ongoing public relations problems as they may be harassed by the local populace. With the fact that majority of foreign firms are wealthier, plausible cases of exploitations can surmount and indirectly found somewhere, which in turn, are counteracted in a means of a façade, like for instance, international firms promoting the locals to a managerial positions.

Observers will see a continuing progression in the ruinous steps which have forced the industry into a socio-politico-economic corner. Whether this is related to flat demand or to the industry's creation of an ever-wider range of products that many buyers seem to care little about, there is a problem. The industry is likewise linked closely to the policies of governments, the earnings of banks. Little wonder then that so many emerging countries are keen to develop a sector that deals with the regulation of products introduced by the company or that there is such a political pressure to protect it in the developed countries. The world's airline industry is currently dominated by little more than a handful of firms, each wielding colossal financial, emotional and political power. The industry's approach to dealing with political institutions has not always been brilliant. It tends to be good on technical issues, although it has not always fully presented the longer-term options, in order to make the choices and their implications clear.

In the aspect of Pfizer Inc., it has dealt with political factors rather brilliantly. It continues to provide very satisfactory benefits and wages for its 115,000 employees. Pfizer continues to cater to the needs of their employees and their families. They provide benefits and fitting wages and overtime. Also, Pfizer continues to recognize its responsibility to the government. It continues to pay its ...