MARKETING: PEST Analysis for the ATM in the United Arab Emirates
The process by analyzing the following three aspects is obligatory. Each business must evaluate its environment before starting the marketing plan:
Internal environment such as staff and office technology
Microenvironment such as suppliers, external customers and competitors
Macro-environment such as political forces, economic forces, socio-cultural forces and technological forces (PEST factors)
The preceding aspect is called PEST factors. It is the outside forces, which should be understood by the organization.
* It is very vital for organizations to understand existing political environment and consider future political improvement, which may have an effect on them.
* There are two factors, which may affect the ability of the organization in performing their businesses.
1- Government's attitude towards business activity: some countries discourage the existence of foreign businesses in their country due to the feared rivalry.
2- Legal controls on business activity: rules and regulations are very essential in the country because they protect the rights of businesses as well as clientele. It does not have to be prescribed regulation.
* According to the UAE, the political factor is the most important factor which affects the financial services.
* In spite of the uncomplicatedness in the regulations and laws of the UAE, the political environment is not constant because the UAE financial services laws have to change every five years in a way to be stricter.
* The government does not have visualizations on culture and religion because the laws suit everyone except Islamic banks which follow the principles of Islam.
* UAE has authorized some rules that improve the financial services in the country. For example, UAE central banks outlined a law to create a stock exchange.
* This law has been implemented in 2000...