Unit and industry’s in general are run with in

Unit 5 p5 In this assignment I am going to be explaining the external factors that influence my selected business for this assignment I have chosen to do the fast food franchise McDonalds. https://www.uniassignment.com/essay-samples/business/a-number-of-uncontrollable-elements-affect-mcdonalds-business-essay.php External influences Political  Political elements include groups of country’s such as the EU; Laws and the Government.  Their polices all affect how business and industry’s in general are run with in their care depending on the department of the environment and the sector of trade and industry that business specialises in. These departments create polices on trade ultimately having restrictions and certain degree within their particular field. The polices created can affect a business in different ways in how their products are promoted and sold for example, in the uk there is ingredients that are banned in crisps and chips that are available in America, this means that American MacDonald’s and British McDonald’s do not have the same ingredients and may taste different due to this However, each country has their own legal system and when a company internationalizes then it must keep within these legal systems. https://www.food.gov.uk/enforcement/regulation/europeleg https://www.mcdonalds.com/gb/en-gb.html http://www.learnmarketing.net/internationalmarketingmix.htm Economic As Mcdonald is an international business it will be affected by the economic conditions of the country’s, the franchise in which they operate. For example, differences in generated revenue suggest that there would have to be changes made to the prices for the menu depending on what country you live in. Some countries are less economically developed however the fast food franchise still runs in some of the countries. https://www.worldatlas.com/articles/the-world-s-most-expensive-countries-measured-by-the-big-mac-index.html for example, in Venezuela a big mac burger is $0.67 whilst in Norway it cost $6.88. As there is limited purchasing power in the Ledc countries it usually correlates with low education levels, this evidently poses a threat to business such as Mcdonalds because it’s harder to promote the brand. Even though big brands such as Mcdonalds should have the power to promote their company in country’s such as Venezuela and other LEDC countries their promotional tools are somewhat limited, many people don’t have tv so adverts that may occur online, they may not see them. So, to resolve this foreign market with low economic development, should practice the use of cost effective methods of promotion, like bill boards and flayers.  social  Social external influences on international business vary depending on the country in which the international business is operating. External influences on a business are affected by the general population of a country and are influenced by  Population growth/decline  Religious beliefs  Family sizes  Income available to spend (disposable income) Lifestyle and habits  For consumers life style an ultimate can cause changes in the product in demand and how products can be sold to consumers. In the UK worth ethic and school for most people usually begin early in the morning having to reach to their destinations by 8 O’clock, meaning there may not be enough time to whip up breakfast in the morning. However, McDonalds have understood this and therefore have implemented the breakfast menu for citizens on the go. https://www.mcdonalds.com/gb/en-gb/menu/breakfast.html  To add on there are many traditions and beliefs in today’s society, each of them having their own set of rules and laws that must be followed. India is a mainly Hindu based country with 79.8% being Hindu and 14.2% being Muslim, McDonald’s decided not to include the Big mac burger as a result of going against the Hindu prohibition of beef. And in countries that have a majority following of Islam which also goes against the consumption of meet due to the ways the meet Is slaughtered.