Suggested resources & activities related to PEST analysis and Johnson Matthey
- Full Johnson Matthey case study
MP3 of the Johnson Matthey case study
External influences PowerPoint
Johnson Matthey crossword
Johnson Matthey word search
Suggested timings for the session
- 10 mins
5 mins
5 mins
10 mins
20 mins
10 mins
Starter e.g. Johnson Matthey crossword
Use the external influences PowerPoint to discuss the topic
Read the case study
Questions
Task – mind map
What have you learned?
Answers to questions
1. What does PEST stand for?
PEST stands for:
• Political (includes legal)
• Economic
• Social (includes environmental)
• Technological
2. Describe what is meant by the ‘external business environment’. The external environment refers to those things outside of the operations of an organisation which impact upon it but over which the business has no control.
3. Analyse why PEST analysis is used by firms.
PEST analysis is used by firms to assess the external business environment in which they operate. Managers and directors can then make decisions on their findings. PEST analysis therefore will inform any new objectives being set and the marketing strategy for the firm.
The Business plan on Strategic Management: External Analysis
Introduction: Presently, the automobile industry as a whole is awash with both opportunities and threats. Toyota seems to be at the extreme end of the spectrum in both categories. While Toyota shares the same threats as most other manufacturers, recent problems with recalls and pending litigation have seriously damaged the company’s brand image and, particularly in North America, Japan, and ...
4. Evaluate the impact that the 2008 banking crisis had on Johnson Matthey. The 2008 banking crisis which lead to the recession:
• Meant a fall in demand for its products
• Increased efficiency within the company -reducing the use of natural resources and decrease waste through lean production techniques.
• Efficiencies made the company more sustainable – saving the company money whilst at the same time conserving the planet’s valuable natural resources.
What have you learned?
Expected learning is likely to include:
• Definition of the external business environment
• PEST factors
• Use of PEST analysis to develop marketing strategy
• How firms respond to external factors
• Examples of these factors
