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Salima Khatun

Mr Peters

BTEC Business Level 3

UNIT 1- The Business Environment

P6- describe how political, legal and social factors are impacting upon the business activities of the selected organisation and their stakeholders PEST- Political factors include government policies relating to the industry, tax policies, laws and regulations, trade restrictions and tariffs etc. The economic factors relate to changes in the wider economy such as economic growth, interest rates, exchange rates and inflation rate, etc. Social factors often look at the cultural aspects and include health consciousness, population growth rate, age distribution, changes in tastes and buying patterns, etc. The technological factors relate to the application of new inventions and ideas such as R&D activity, automation, technology incentives and the rate of technological change. PEST in the UK

How does political affect Tesco in the UK?
Minimum wage- in the UK the minimum wage for 21 and over is £6.31. This would affect Tesco as their staff pay would come from their profit and would make Tesco’s profit smaller which is bad for the business. However the minimum wage for under 18 is £3.72. This is good for Tesco as they would have to pay their staff less which means they would have more profit. This also means Tesco would employees more under 18 as they don’t have to pay them more money. VAT- Another political factor is VAT. As the VAT rate increased from 17.5% to 20%. VAT rise cost each household £500 a year which means reduce spending on luxury items. As this rate applies to most goods and services. This would affect Tesco as their suppliers will have to increase the prices for their goods. Which means Tesco have to pay more money for the goods they buy from their suppliers. This would affect Tesco customers as they have to pay more money for the goods and services they get from Tesco. Tesco have to pay their VAT on time even if their customer have not paid yet as they have... Show More

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