I was asked to prepare a PEST (political, economical, sociological and technological) analysis report for two companies of my choice. I decided to choose firms from the leisure industry and then compare them. I analysed the business environment and ethical factors that affect the leisure industries as a whole. In my report I will distinguish between the impacts on the different political, economical, sociological and technological factors and will then draw conclusions based on my analytical report.
To prepare a PEST analysis report on my chosen firms, I had to research and analyse the leisure industry market as a whole.
PEST Analysis of the Leisure Industry in the UK:
Before starting to analyse the PEST factors that affect the leisure industry as a whole I would like to give a definition and explain the PEST Analysis. The below statement defines PEST.
"All the external political, economical, social-cultural and technological factors that affect the environment of a market or company"
The PEST factors which impact on the leisure industry in UK are as follows:
* The government has tight regulations for selling alcoholic drinks in the leisure industry.
* A new government could bring many changes in regulations for the leisure industry and apply for new legislation.
* Government's regulation for all the closing times is different for a variety of firms that operate in the leisure industry. For example pubs and bars must stop serving at 11.00pm on the whole and nightclubs at 02:00 unless a special licence is obtained.
* The government's decision to invest in leisure industry such as the National Lottery has attracted other establishments for instance gambling businesses such as casino, bookmakers and bingo.
* The government is sponsoring leisure facilities resulting in some sort of ownership. Local council is also going down...