The analysis utilized to determine the position of company in the market is done by utilizing PESTLE analysis, given in Exhibition A. Red Star Furniture Group Co Ltd works under the rules and policies directed by government and food authority. The company is more focused on its products and services to make certain about the item quality and safety. This analysis will help in comprehending environment of external market in the international food and beverage industries. (Parera, 2017).
Political.
The political effect on the business is significantly affected by the public law and policies. The company has to meet its requirements offered by government otherwise it needs to pay fine. Red Star Furniture Group Co Ltd is considerably supported by Government to meet all the criteria of requirements like acts of health and safety. In efforts to produce excellent food, Red Star Furniture Group Co Ltd is altering the standards of food and beverage manufacturing. This may cause the infraction of governmental rules and guidelines.
Economic.
Initiation of business where the capital earnings of each private matters for the increased net sale as this differs country-to-country. The economy of the Red Star Furniture Group Co Ltd Business in U.S. is growing year by year with variable products launch particularly concentrating on the dietary food for babies.
Social.
The social environment keeps on altering with regard to time like the attitude of the consumer along with their lifestyles. Any product and services of any company can not achieve success up until the company is not concerned about the living system of the customer. Red Star Furniture Group Co Ltd is taking steps to fulfill its objectives as the world is in search of healthy and tasty food.
Technological.
In the advancement of business, tactical measures are rather necessary. Red Star Furniture Group Co Ltd is one of the leading well-known multinational firm and by time it purchases various departments to take its products to new level. Red Star Furniture Group Co Ltd is spending more on its R&D to make its items much healthier and nutritious providing consumers with health advantages.
Legal.
There is no such effect of legal factors of Red Star Furniture Group Co Ltd as it is more worried over its laws and policies.
Environmental.
Red Star Furniture Group Co Ltd, in terms of environmental effect is committed to operate in eco-friendly environment with conservation of the natural deposits and energy. As due to the manufacturing of bigger number of products there might be a danger if the resources utilized are recyclable or not.
Exhibit A: PESTEL Analysis
