Pestel Analysis on Bank Essay
Concerning the political trends in Malaysia, it is noted that the state of politics here is very stable at the moment and there have been peace and harmony existing among the citizens of Malaysia (Political Stability in Malaysia, 2010). The governmental stability as well as the efficiency of the government in promulgating policies that are designed to ensure stability are vital to the peace and stability in Malaysia and it also permits businesses to run smoothly.
The government of Malaysia has been very successful in enabling businesses, local and international, to be able to prosper and achieve success due to the very friendly and compatible business policies (Malaysia Country Profile, 2010).
. Hence, organizations like Standard Charted are able to enjoy a place of business that is peaceful and conducive. The incidents of political violence are minimal and do not affect the way that the business is carried out in Malaysia.
Economic Analysis. The Malaysian economy is quite stable (Mankiw, 2007) and Puah, 2008). After the global economic downturn, the economy of Malaysia did suffer a minor setback but the consequences were not as bad as that which was suffered by other countries like USA and UK.
The economic downturn did cause the Malaysian economic growth to slowdown a little but the economy is now slowly and steadily picking up and the stimulus package that was launched by the government has been successfully in bringing the Malaysian economy back to life.
The fiscal and monetary policies by the Malaysian government have succeeded in making sure that Malaysia continues to experience steady and strong growth of the economy in the years to come (Malaysia Country Profile, 2010) and (Economy Watch Malaysia, 2010) Social Analysis The kind of financial services that are offered by financial organizations like Standard Charted are vital and very essential for present day business people and ordinary consumers. These consumers want convenience and variety this bank is able to provide just that.
In addition to this, the information technology trend is currently influencing everyone these days and a large number of consumers are using the net to satisfy their banking and financial needs (Trends in Internet Banking, 2010) and this organization has been quick to respond to this trend by providing internet banking facilities etc to cater for this trend. Technological Analysis The internet is perhaps the main technology that these kind of organizations use and this is done by expanding its services to be online and giving its customers a technological advantage.
In addition, the availability of technology in Malaysia ensures that these kinds of organizations are able to capitalize on such availability and to gain competitiveness. Environmental Analysis Organizations like this do care for the environment as they have a code that promulgates social responsibility and do their part to protect the environment. Additionally, rules and regulations by the Malaysian government ensure that these companies carry out their business in a manner that is responsible and not detrimental to the environment.
Legal Analysis. In Malaysia, the legal system is based largely on the UK system and consumer protection is quite high here and courts tend to favor consumers over corporations mostly, unless the evidence implicating the consumer is overwhelming. Consumers are offered a great deal of protection and hence organizations like Standard Charted have to ensure that they do not act towards the detriment of the consumer but towards their interest and benefit.
Political Stability in Malaysia, 2010: available at: http://www. malaysia-trulyasia. com/mta/political_stability. htm Accessed on: 11-2-2010 Malaysia Country Profile, 2010: available at: ttp://news. bbc. co. uk/2/hi/asia-pacific/country_profiles/1304569. stm Accessed on: 11-2-2010 Trends in Internet Banking, 2010: available at: http://www. 123eng. com/forum/viewtopic. php? p=1609 Accessed on: 11-2-2010 Mankiw G, 2007). Principles of Economics. Puah P(2008-07-10). “Half of M’sian households earn below RM3,000 a month”. : available at: http://www. theedgedaily. com/cms/content. jsp? id=com. tms. cms. article. Article_af703730-cb73c03a-1b092820-e338574e. Retrieved 2010-01-10 Accessed on: 11-2-2010 Economy Watch Malaysia, 2010: available at: http://www. economywatch. com/world_economy/malaysia/ Accessed on: 11-2-2010
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