Week 3

(24^th September 2013)
Stay cool together

Today’s lecture discussing the third chapter which is ‘’evaluating a company’s external environment’’. There are lots of new information and knowledge we would gain through this chapter. This chapter is discussing regard a company’s external environment can influence the organizational based on the word P.E.S.T.E.L. What is P.E.S.T.E.L actually?

           

P.E.S.T.E.L means the combination front word for six element of a company’s external environment.

P = political

E = economic

S = social cultural

T = technological factors

 E = environmental forces

L = legal and regulatory factors

Another thing that caught my attention the discussion between Miss Ummi and Prof. Dr. MohdMuda regards our country current economy.Prof. Dr. MohdMuda have done analysis economy and the finding was been told to Miss Ummi. Economy actually has cycle which is rise, peak and down. Malaysia now at peak session and if the prediction is true it will collapse anytime from now.

Prof. Dr. Mohd Muda also advises that don’t purchase house now but wait 2 or 3 years more because house’s price will decrease. As now bank Negara has limit the loan, decrease the loanrepayment period. The situation almost the same when Malaysia experience economic crisis in 1997. Hence, all of us is encouragement to careful in spending and have economic plan for future.

In addition to that, in tutorial class we were asked by the tutor who is the new giant economy? All of us give numerous answers such as United States, Hong Kong, United Kingdom, Switzerland and other. Actually the new giant economy was called BRICK stand for Brazil, Russia, India, China and Korea. They were the countries that control the world economy.