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Business Research Paper

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In today’s technological and competitive era, high percentage of people have a desire to start an own business. In every business, there are lots of competitions and it is very tough to get own name and fame in the market without some innovative concept. Whenever some person is going to start a new business he would have to do highly research. Time is also as much essential as funds for an organization. Here, the idea is to start business of manufacturing the components of centrifugal pumps and selling the pump by assembling all parts in India. Name of the company would be Saliva as this pump will use to drain in and out water and another name of water is Saliva. The organization would also need machineries like lathes and computer …show more content…

The state of government is also more essential to start up and run the business. The business also has to up to date about the taxes, rules and legislation as they change very often. Employment law is coming under the political forces, so, a company must be knowledgeable about that also. Secondly, economic forces like consumer confidence, employment, interest rates and inflation (ref) also affect the organization. The Organization also has to keep checking exchange rates if they import raw materials or some other resources. Social forces, which could also influence the organization like lifestyles, buying habits, education levels, health consciousness. The population of the country can also have an impact on the organization, as with the increase in population, demand of products will also increase.
The fourth external force in the analysis is technological. Some of technological forces are like computer calculation speed and power of CNC machineries, lathe machine’s efficiency and automation. Productivity also could be higher with the help of technology. By using technology organization can do online marketing, selling and much more. The second last of these external forces is legal which are as like as transportation of the product, profit margin and viability. (ref). The tax factor which can highly influence the business. As organization will have to pay tax to the government based on profit. Next external force is environmental which include

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