Political Factors
Essay Preview: Political Factors
Report this essay
PESTLE ANALYSIS
Political factors:
The international operations of Neutrogena are highly influenced by the individual state policies enforced by each government
Political Risk In Singapore is relatively low. In fact according to the Political And Economic Risk Consultancy, PERC, Singapore enjoys the lowest political risk in Asia. Singapore being a democratic country has elected representatives to rule the nation. It has since Independence, enjoyed relative political stability, which has transformed into better business opportunities for the nation.
Free Market Economy:
Political condition in Singapore is stable and encourages more investments.
Singapore Government does not involve in economic decisions of the firm. Legislations in Singapore provide free market economy.
ASEAN cosmetic directive:
The common technical requirements under the ASEAN Harmonized Cosmetic Regulatory Scheme provide for a common definition for cosmetics, and detail the ingredients that cannot be used in cosmetics as well as listings of permitted preservatives, UV absorbers and colourants. NEUTROGENA PERFECTIONIST will not be violating extreme restrictions of Singapore government in the use of UV absorbers.
Economic Factors:
Inflation simply means rising prices and it shows the increase in cost of living. In economics, inflation is explained as rise in the general level of prices of goods and services in an economy over a period of time. With the rise in price levels a unit of currency will buy fewer goods and services. As a result, the purchasing power of money will be reduced with inflation.
Singaporean, they are rich and vain, they have a very beauty conscious, and they need makeup to go to work. since easy to operate people can sparing at home in a more efficient and cheaper way. It saves time and it saves money .The product will help them to define the best beauty in them and help them to find the most suitable product with better price which will help people＂survive from the inflation who cares about their appearance all the time.
Social factors
Demographics: Singapores population touched a record mark of 5.31 million comprising 3.29 million Singapore citizens, 0.53 million permanent residents, and 1.49 million non-residents, the second densest sovereign state in the world after Monaco. The population from 1995 till date has increased consistent at about 2.5% year over year. Growth rate is one of the most important factors for determining for changing the needs of its people and the infrastructure of the country such as schools, hospitals, housing, roads and resources such as food, water, electricity. The major threats to the Singaporean population are the increase in the number of foreigners in the country and the increasing population growth because of the social and economic needs.
Employment opportunities: The employment opportunities have been on a high from the past 5 years and hence the influx of a lot of foreigners into Singapore. Singapore has become one of the leading hubs for finance in the South East Asian region and there has been a gradual shift from the European nations to Singapore. According to the Ministry of Manpower there has been an increase in the employed Persons in Singapore, increased to 3358.10 Thousand Persons in 2012 from 3228.50 Thousand Persons in