The analysis utilized to determine the position of business in the market is done by using PESTLE analysis, given in Exhibit A. New Songdo City Chinese Version works under the rules and policies directed by federal government and food authority. The company is more focused on its products and services to make sure about the product quality and safety. This analysis will help in comprehending environment of external market in the global food and drink industries. (Parera, 2017).
Political.
The political impact on the company is considerably influenced by the public law and regulations. The business has to fulfill its requirements supplied by government otherwise it needs to pay fine. New Songdo City Chinese Version is greatly supported by Government to fulfill all the criteria of standards like acts of health and safety. In efforts to manufacture great food, New Songdo City Chinese Version is changing the standards of food and drink manufacturing. This might cause the infraction of governmental guidelines and regulations.
Economic.
Initiation of business where the capital earnings of each specific matters for the increased net sale as this differs country-to-country. The economy of the New Songdo City Chinese Version Company in U.S. is growing year by year with variable items launch particularly focusing on the nutritional food for infants.
Social.
The social environment keeps altering with respect to time like the mindset of the customer as well as their lifestyles. Any product and services of any company can not achieve success until the company is not worried about the living system of the customer. New Songdo City Chinese Version is taking measures to fulfill its goals as the world is in search of healthy and tasty food.
Technological.
In the advancement of organisation, strategic procedures are somewhat mandatory. New Songdo City Chinese Version is among the leading famous multinational firm and by time it buys different departments to take its products to new level. New Songdo City Chinese Version is spending more on its R&D to make its products healthier and healthy offering consumers with health advantages.
Legal.
There is no such impact of legal factors of New Songdo City Chinese Version as it is more worried over its laws and policies.
Environmental.
New Songdo City Chinese Version, in terms of ecological effect is dedicated to operate in environmentally friendly environment with conservation of the natural deposits and energy. As due to the production of larger variety of products there might be a danger if the resources utilized are recyclable or not.
Exhibit A: PESTEL Analysis
