how do political factors affect the business?

Although not an easy task, understanding the political environment through the PESTEL analysis and building strategic scenarios based on political realities in the markets a company is targeting, is a fundamental step in creating a solid international business strategy. These, too, are strongly influenced by government policy. Some of the political factors that affect international business include” (Justin Ervin. The political environment in a country affects business organizations and could introduce a risk factor that could cause them to suffer a loss. The answer is research, research and research or……purchase research! } The economic environment, in turn, affects the performance of a business organization. If you can’t purchase geopolitical analysis, here are some resources that are reliable and updated.

The enterprise can be daunting and a detailed analysis of the environment is an absolute must. Territory, Globalization and International Relations – The Cartographic Reality of Space, Palgrave Macmillan. One way to manage political risk is to buy political risk insurance. It is possible to analyse and forecast the impact of government policies on doing business. Analysis Tools. It is continuously updated and contains links to other resources, like articles and documents that describe the ongoing actions and issues more in depth. (2016). (BusinessDictionary.com, 2015) Transparency International recommends an annual cap on donations from individuals and corporations to no more than £10,000, among other regulatory measures. Retrieved from, http://www.exploringgeopolitics.org/publication_klinke_ian_five_minutes_for_critical_geopolitics_a_slightly_provocative_introduction/, An event organized by The Localization Institute. While often the reaction comes from people, other times it comes directly from the government. They are: Overall low interest rates signifies the existence of cash in the economy, the result is echoed in the prices of services and goods. My aim with this article is to give you an objective view of what you may want to consider before you publicly or privately reveal your political persuasion or align yourself (and your business) with any particular political position.

All political governments rely on taxes and borrowing either locally or internationally to finance their operations. When currency purchasing power decrease due to excessive inflation it has serious undesirable results e.g. This updated map from the GDELT Project, by the United States Institute of Peace is a fantastic resource as it shows both conflicts and protests. With that said, a widely-reported survey of 1000 respondents conducted in late 2016 (in the wake of the EU Referendum) by Transparency International showed that.

(function() { This does not represent the official position of Brand2Global Conference, The Localization Institute, or the author’s organization. Often, there is very little that businesses can do. UCLA Asia Pacific Center (2005). } Why consider affiliating your business with political issues? The rise and fall of interest rates affect business and consequently should be conscious of the rate before borrowing. Global Branding and Marketing Certification, Global Digital Marketing and Localization Certification, http://blog.oxfordcollegeofmarketing.com/2016/06/30/pestel-analysis/, https://en.wikipedia.org/wiki/PEST_analysis, http://www.newsweek.com/googles-place-geopolitics-493769, https://www.theguardian.com/technology/2016/aug/11/google-maps-palestine-neutrality-tech, https://www.gislounge.com/the-politics-of-googles-mapping/, http://www.international.ucla.edu/apc/article/34660, https://en.wikipedia.org/wiki/Orange_(UK), http://www.independent.co.uk/news/the-futures-not-so-bright-as-orange-gets-the-red-light-in-ulster-1328424.html, https://www.theinquirer.net/inquirer/feature/2397323/the-fall-and-demise-of-the-orange-brand, https://www.linkedin.com/in/valeriabarbero/, https://books.google.com/books?id=X8UHhkIRUvIC&pg=PR2&lpg=PR2&dq=international+marketing+blunders&source=bl&ots=1KcbReS-sf&sig=Cotu9fnsPya7W0Zoktqs4wl9ytI&hl=en&sa=X&ved=0ahUKEwjKu9710aPWAhUI2WMKHSHlCA84ChDoAQhDMAY#v=onepage&q=international%20marketing%20blunders&f=false, Press ‘Start’ to… Eat a Whopper?

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