Die PESTEL-Analyse – Status quo und innovative Anpassungen

2020 ◽  
Vol 61 (1) ◽  
pp. 3-21
Author(s):  
Rahel M. Schomaker ◽  
Alexander Sitter
Keyword(s):  
Economic Development ◽  
Business Management ◽  
Business Environment ◽  
Status Quo ◽  
Institutional Framework ◽  
Entrepreneurial Activity ◽  
Negative Effects ◽  
Market Conditions ◽  
Framework Conditions

Abstract The link between economic development, entrepreneurial activity, and institutional framework conditions has been focused by scholars from different disciplines, inter alia economics and business management, and is of utmost relevance also for practitioners. This applies in particular to the question of those macro factors that exert an influence on the sustainable success of entrepreneurial activity. PESTEL analysis as a strategic tool that focuses on the assessment of the business environment in terms of specific market conditions, (likely) developments and their positive or negative effects on an enterprise is a popular instrument in this context. However, the existing literature often offers only a compilation and partial discussion of categories and dimensions, but does not include a discussion of the effects of specific framework conditions in detail, nor provides concrete indicators to make the concept operable. The article deals with this question, providing an operationalization of numerous sub-categories of PESTEL, as well as discussing possible extensions to the PESTEL toolbox that become necessary against the backdrop of globalization and digitization. Zusammenfassung Der Zusammenhang zwischen wirtschaftlicher Entwicklung einerseits und institutionellen Rahmenbedingungen andererseits wird in der einschlägigen Literatur seit langem diskutiert. Dies gilt insbesondere für die Frage nach denjenigen Makrofaktoren, welche einen Einfluss auf den Erfolg unternehmerischer Tätigkeit ausüben. Die PESTEL-Analyse als strategisches Instrument fokussiert das Unternehmensumfeld in Hinblick auf spezifische Marktgegebenheiten, (wahrscheinliche) Entwicklungen sowie deren positive oder negative Auswirkungen. Sie soll somit eine fundierte Entscheidungsgrundlage für das Management bieten. Die bestehende Literatur zum Thema bietet jedoch oftmals lediglich eine Zusammenstellung und teilweise Diskussion von Kategorien und Dimensionen, jedoch keine Diskussion ihrer Wirkungen im Einzelnen sowie konkrete Indikatoren, um das Konzept operationalisierbar zu machen. Der vorliegende Beitrag widmet sich dieser Frage und bietet zum einen eine Operationalisierung zahlreicher Sub-Kategorien der PESTEL, zum anderen werden mögliche Erweiterungen, welche insbesondere angesichts voranschreitender Globalisierung und Digitalisierung notwendig werden, vorgestellt und kritisch diskutiert.

scholarly journals Entrepreneurship indicators, policies and their influence on the business environment in West Africa

2020 ◽  
Vol 8 (1) ◽  
Author(s):  
Akinseye U. Olowu ◽  
Edwin Ijeoma ◽  
Annabel Vanroose
Keyword(s):  
Economic Development ◽  
West Africa ◽  
Private Sector ◽  
Comparative Evaluation ◽  
Business Environment ◽  
Institutional Framework ◽  
National Integration ◽  
Business Environments ◽  
Colonial Policy ◽  
Indirect Rule

Background: This article examined the performance of entrepreneurship indicators and their influence on the business environments through economic rankings in selected Anglophone and Francophone countries in West Africa.Aim: An institutional framework for entrepreneurship indicators was adopted as a measure for entrepreneurship in the region focusing on its determinants, impacts and outcomes.Setting: The colonial policy of indirect rule in the Anglophone West Africa focused on economic development and national integration, while the colonial policy of assimilation in the francophone focused on trade and centralisation.Method: This study focused on a comparative evaluation and synthesis.Results: The study found that the Anglophone countries were more entrepreneurship enhancing than the Francophone divide, but the economies in the region were all factor driven.Conclusion: The study recommends private sector partnership in the drive to promote entrepreneurship so that the entrepreneurship drive in the countries aim towards innovative and efficient competitiveness.

scholarly journals KEY FACTORS OF COMPANY DEVELOPMENT IN THE INNOVATIVE ECONOMY

2020 ◽  
Vol 288 (6) ◽  
pp. 20-26
Author(s):  
V. YANOVSKA ◽  
◽  
O. PORTNYI ◽  
A. NAKALYUZHNA ◽  
◽  
...  
Keyword(s):  
Economic Development ◽  
Regulatory System ◽  
Maximum Level ◽  
Business Environment ◽  
Entrepreneurial Activity ◽  
Key Factors ◽  
Economic Activities ◽  
Slow Increase ◽  
Business Entities ◽  
Innovative Economy

The article is devoted to the key problems of the economic development of companies in the context of globalization, rapid spread of innovations, transformation of the business environment, and improvement of approaches to the regulation of socio-economic processes. There was done comparison of trends and dependency of quantity of business entities and indicators reflecting the nature of the regulatory impact on entrepreneurial activity and protection of property rights. The outstripping positive dynamics of Ukraine’s positions in the international rating of the World Bank Doing Business together with uneven and slow increase in the quantity of business entities related to economic activities with great development potential are identified. It is noted that the creation of a favourable regulatory system is a basic, but not an exclusive factor of economic development in a globalized and innovative economy. Companies striving for success should abandon industrial management models and need to search for solutions focused on improvement the efficiency of the company’s functioning and increasing business value at the end by determining the feasibility of application of value-oriented management. It is emphasized that value-oriented management is based on an understanding of the need to ensure the maximum level of prosperity of owners, investors and other stakeholders, is aimed to form common value chains and, as a result, is crucial for the economic development of the company and socio-economic development of the country. As a result, a hypothesis was formulated about the possibility of use the value potential to ensure the economic development of companies. A cyclical chain of economic development factors from the individual company’s value to macroeconomic indicators has been built. The logic of the relationship between the key factors was defined, in particular, it is indicated that the high end value of business stimulates entrepreneurial activity, attracts of direct or stock market capital from investors, and increases the number of investment projects accepted for financing.

Transforming Culture to Stimulate Economic Development

2016 ◽  
Vol 5 (1) ◽  
pp. 48-58
Author(s):  
Balbir Bhasin ◽  
Lee Keng Ng
Keyword(s):  
Economic Development ◽  
Cultural Values ◽  
Political Stability ◽  
Entrepreneurial Activity ◽  
Small Island ◽  
Negative Effects ◽  
Developmental Models ◽  
Island State ◽  
Social Controls ◽  
Small Island State

In furthering the discussion on the linkage between economic development and culture, this paper attempts to answer the question: “Can a society's culture be transformed to stimulate economic development?” This paper uses Singapore as a case study. It traces the country's restructuring of cultural values to foster economic growth and development which allowed Singapore to grow from a small island state with a sagging economy and no natural resources, to become one of the most respected and widely recognized developmental models of the modern era. This study shows that social controls can help newly developing countries in creating political stability and social cohesion that allows for rapid economic development. However, the negative effects of such measures lead to the creation of a compliant society that lacks creativity and innovation, is risk averse in entrepreneurial activity, and prone to talent depletion.

scholarly journals Entrepreneurial motivators and competencies – main drivers of entrepreneurial success

2018 ◽  
Vol 12 (1) ◽  
pp. 864-874 ◽  
Author(s):  
Lavinia Rașcă ◽  
Alecxandrina Deaconu
Keyword(s):  
Economic Development ◽  
Status Quo ◽  
Entrepreneurial Activity ◽  
Development Programs ◽  
Entrepreneurial Success ◽  
Learning And Development ◽  
Know How ◽  
Government Education ◽  
Main Driver ◽  
And Training

Abstract The entrepreneurial activity has been recognized as a major source of jobs and economic development. Entrepreneurial minded persons are passionate, dedicated, optimistic. They are never satisfied with status quo, so they take action in order to address opportunities, rather than over analyzing situations, and waiting for permission. They are ambitious and willing to do whatever it takes to succeed, they take calculated risks, and focus on what it matters. They know how to use own resources and how to secure those they lack, and they pay attention to cash flow. They are confident that their investment in time and money will pay-off. They love challenge, welcome change, and know how to listen. They do not strive to please everybody - being rejected motivates them to work harder. Despite much research into explaining what makes entrepreneurial initiatives successful, the answers are not clear, most studies presenting conflicting findings. The need for developing entrepreneurial competencies is more urgent than ever before, since they are recognized to be the main driver of the entrepreneurial success. It is important to know and understand how to achieve this goal. Are there specific competencies that make an entrepreneur successful? And are these born, or learnable? Based on literature review and on quantitative and qualitative analysis, this paper aims to identify motivators and competencies important for entrepreneurial success, as well as actions, learning and development programs to be developed in order to improve them. Conclusions based on surveys and interviews undertaken by the authors will also be presented. The paper might be of interest for government, education and training providers, employers, potential and practicing entrepreneurs.

scholarly journals Sustainable business development vision under the covid-19 pandemic

2021 ◽  
Vol 2 (1) ◽  
pp. 37-43
Author(s):  
Nataliya Antonyuk ◽  
Iryna Plikus ◽  
Mohammad Jammal
Keyword(s):  
Economic Development ◽  
Development Strategy ◽  
Social Stratification ◽  
Personal Development ◽  
Business Environment ◽  
Business Development ◽  
Entrepreneurial Activity ◽  
Sustainable Business ◽  
Structural Dynamic ◽  
The Impact

This article considers the issues of forming sustainable business development strategies in the context of the COVID-19 pandemic. The authors noted that the COVID-19 pandemic significantly affected the business environment, changing each country’s economy’s priorities and principles of functioning. The study’s main goal is to analyze the impact of quarantine measures and the pandemic on sustainable business development. The article examines the positive and negative COVID-19 influence on economic development. The methodological basis of this study is a systematic literature review using international scientific databases. For determining the scientists’ and the business interest in the studied issue, Google Trends and Google Ngram Viewer tools were used. The authors used a systematic approach, abstract-logical and structural-dynamic analysis to determine trends in entrepreneurial activity. This paper presents the findings in shifting prioritize business skills for future development. The obtained results showed that individual professional and personal development became more important compared to communication skills. The authors identified the negative pandemic consequences such as social stratification and significant psycho-emotional pressure affecting socio-economic development. In turn, there is a need to quickly adapt to rapid changes, especially in the professional sphere was emphasized. The authors noted the inevitable digitalization process, which requires psychological readiness, stress resistance, cognitive flexibility, and emotional maturity. The obtained results allowed identifying the priorities of sustainable business development and areas of psychological support for private entrepreneurship in Ukraine. Thus, the formation of strategies for sustainable economic development in Ukraine should be based on business digitalization, adaptation to new business conditions, the acquisition of modern skills, reducing economic stratification of society, and reducing psychological stress. The study findings could be used in devising the regional development strategy to ensure a sustainable and efficient business environment. Moreover, the obtained results could be useful for the entrepreneurs to ensure personal development and get the desired level of profit while minimizing the business risks.

Business management in the light of cultural diversity in the labor market

2020 ◽  
pp. 28-44
Author(s):  
René Pawera ◽  
Monika Lavrovičová ◽  
Lucia Húsenicová
Keyword(s):  
Labor Market ◽  
Cultural Diversity ◽  
Key Words ◽  
Slovak Republic ◽  
Business Management ◽  
Diversity Management ◽  
Equal Opportunities ◽  
Market Conditions ◽  
Labor Market Conditions ◽  
Labor Market Inequality

An important element of the management of modern companies and organizations is the proper use of diversity management and equal opportunities, aimed at eliminating discrimination in the labor market. The paper summarizes the starting points for these processes in the labor market. It describes the tendencies of the development of the solved problem in the context of the labor market conditions of the Slovak Republic. Key words: labor market inequality, equal opportunities management, diversity management

Anti-Ideology of Entrepreneurship as an Attribute of Entrepreneurial Projects

2020 ◽  
Vol 26 (8) ◽  
pp. 830-839
Author(s):  
E. Ya. Litau
Keyword(s):  
Economic Development ◽  
Economic Activity ◽  
Creative Destruction ◽  
Innovative Activity ◽  
Entrepreneurial Activity ◽  
Methodological Principle ◽  
Historical Period ◽  
Professional Literature ◽  
Efficient System ◽  
The Relationship

Aim. The presented study examines and develops theoretical and methodological foundations that make it possible to distinguish innovative entrepreneurship among other economic phenomena.Tasks. The author identifies the specific features of entrepreneurship and its qualitative differences from other types of economic activity aimed at obtaining benefits, specifies the relationship between creative destruction and economic development, determines the attributes of innovative entrepreneurship.Methods. This study uses systematic analysis of professional literature on entrepreneurship to highlight the main attributes of entrepreneurial activity. The methodology of dialectical contradiction in its original Hegelian interpretation plays an important role in elaborating and substantiating the definition of entrepreneurship. The author considers innovative activity as creation of new values, which, according to the logic of dialectical development, destroy the old ones, triggering the process of economic development.Results. An approach to understanding the phenomenon of entrepreneurship is proposed, making it possible to distinguish this type of activity as significantly different from other types of economic activity, which may be externally similar but have different content. During the development of this approach, the concept of “anti-ideology” of entrepreneurship is introduced, which reflects the essence of innovative activity as a process of creative destruction. The necessary and sufficient attributes of entrepreneurial innovation are identified, making it possible to reflect the meaning of this phenomenon and verify this complex defining structural element in the system of economic relations. The study substantiates that the level of anti-ideology and public benefit can be used as criteria for assessing the significance of an entrepreneurial idea. A progressive model of anti-idea realization (PMA) is proposed based on the methodological principle. It can be used to develop an efficient system for evaluating startups within the framework of venture capitalism.Conclusions. Specification of the relationship between creative destruction and economic development is crucial to understanding the importance of innovative entrepreneurship. Each historical period creates its own demand for a specific type of entrepreneurs. The principle of anti-ideology, which lies at the heart of the PMA model, is key in identifying competitive commercial ideas, making it possible to focus resources and attention on projects that can make a significant contribution to economic development.

Macro-economic Factors Influencing Tourism Entrepreneurship: The Case of Kazakhstan

2021 ◽  
pp. 097135572098143
Author(s):  
Aizhan Tleuberdinova ◽  
Zhanat Shayekina ◽  
Dinara Salauatova ◽  
Stephen Pratt
Keyword(s):  
Economic Development ◽  
Emerging Economies ◽  
Negative Relationship ◽  
National Income ◽  
Tourism Development ◽  
Entrepreneurial Activity ◽  
Macroeconomic Factors ◽  
Distributed Lag ◽  
Tourism Sector ◽  
The Impact

Tourism development contributes to economic development. In emerging economies like Kazakhstan, tourism development needs active entrepreneurship. As the country emerges from the post-Soviet era, there has been an increase in economic development and prosperity. Entrepreneurship in the tourism sector can drive economies forward through the creation of new tourism and hospitality businesses. The macroeconomic environment can influence entrepreneurial activity. We use an autoregressive distributed lag (ARDL) model to examine the impact of macroeconomic factors on tourism entrepreneurship in Kazakhstan. Using data from 1996 to 2018, we find that there is a positive short-run relationship between wages in the tourism sector and entrepreneurship, suggesting that wage growth in the sector attracts entrepreneurs. In the long run, however, tourism sector wages have a negative relationship with entrepreneurship, suggesting that these higher wages represent a higher cost to entrepreneurship. There is also a strong positive relationship between national income and tourism entrepreneurship in Kazakhstan. Implications of macroeconomic policy changes for Kazakhstan and other emerging economies are discussed.

scholarly journals DIASPORA NETWORKS, NON-ECONOMIC REMITTANCES AND ENTREPRENEURSHIP DEVELOPMENT: EVIDENCE FROM SOME ECONOMIES IN LATIN AMERICA

2015 ◽  
Vol 20 (01) ◽  
pp. 1550005 ◽  
Author(s):  
NIR KSHETRI ◽  
DIANA ROJAS-TORRES ◽  
MARLENY CARDONA ACEVEDO
Keyword(s):  
Economic Development ◽  
Latin America ◽  
Host Country ◽  
Home Country ◽  
Entrepreneurial Activity ◽  
Entrepreneurship Development ◽  
The Caribbean ◽  
Primary Focus ◽  
Diaspora Networks

Diaspora networks' non-economic remittances in the forms of social, political, cultural and technical contributions to their homeland play important roles in entrepreneurship and economic development. In this paper, we examine the effects of such remittances on entrepreneurship development in economies in Latin America and the Caribbean (LAC). We analyze how factors such as migrants' skills and education and characteristics of the host country are likely to affect non-economic remittances and their contribution to entrepreneurship and economic development. We offer some examples of initiatives taken in the home country and the host country to maximize the potential non-economic remittances and their impacts on entrepreneurship development in the home country. A key lesson and take-away that we can gain from entrepreneurially successful efforts of some economies is that the primary focus of diaspora policies need to be centered on utilizing various forms of non-economic remittances in stimulating the quantity and quality of entrepreneurial activity.

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