Disclaimer: This work has been submitted by a student. This is not an example of the work written by our professional academic writers. You can view samples of our professional work here. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays. Under the control of former President Sheikh Zayed, the UAE transformed from a nation of large-scale poverty to a highly developed and wealthy country. With the death of Zayed in 2004, his son, Sheikh Khalifa, immediately took over as president. Although the government structure in the UAE is not democratic, both Zayed and Khalifa have bear the responsibility of retain the country’s development. The government has constantly received appreciation for its efforts to creating business opportunities in Oman. The country’s tax rule is also considered among the best in the world for businesses. The UAE market is capable to with a well-built telecommunication network and, as a result, the country’s IT market is slowly becoming competitive.
However, the level of science education remains low. The country has a strong integrated environmental development program. Its ecological procedures are integrated with the Environmental Impact Assessment (EIA) program, which is part of business practice in the UAE. PESTEL stands for Political, Economical, Social, Technological, Environmental and Legal. It is used to describe an analysis that determines the opportunities and risks of global growth. It is also termed as a PEST or PESTLE analysis. Political, Economical, Social, Technological, Environmental and Legal issues differ from one country to another. As a company looks to influence the advantages that the democratization of technology, information and finance, and grow beyond the national borders that previously controlled them, it is necessary that they consider a PESTEL analysis to accompany their SWOT analysis. The PESTEL analysis provides a strong outline which is used by global and multinational firm to set the stage to develop specific strategy to ease the risks involved in carry out their vision in new environments. This PEST country analysis report on Oman provides a holistic view of the country, with understanding analysis of current and future issues, supplemented with significant quantitative data to support trend analysis.
It is helpful to understand the political system in Oman through examination of key factors in the country and governance indicators. It is useful to understand the economic situation in Oman through a balanced evaluation of core macroeconomic matter. To understand the customer demographics in Oman through analysis of income distribution and the rural-urban split, as well as healthcare and education. It is use to evaluate the technological background in Oman through analysis of related laws and policies, as well as patent data. By making effective use of PEST Analysis, it makes sure that it has united positively with the forces of change that are affecting the world. Good use of PEST Analysis helps to avoid taking action that is meant to failure for reasons beyond control. PEST is useful when we are start operating in a new country or region. Use of PEST Analysis helps to break free of lifeless assumptions, and helps to quickly adapt the reality of the new environment.
The political landscape section discusses the evolution of the political scenario in Oman, as well as the country’s economic, social, foreign, and defence policies. The section also discusses the country’s performance according to World Bank Governance Indicators. The social landscape section analyzes the government’s social welfare policies, as well as the country’s performance in terms of healthcare, income distribution, and education. Strategic management is an essential aspect of managing modern businesses that involves forming goals and implements the programs that fulfil those goals. Environmental scanning is a component of strategic management where mangers study various economic, political and social factors that might affect the business. It can help small businesses to identify intact markets and avoid costly mistakes. Small businesses can better compete by using these critical tools to assess opportunities and challenges. SWOT analysis and PESTLE analysis are two common strategic management equipment that the help managers brainstorm and organize their ideas during the environmental scanning process.