PESTLE Analysis
P - Political
Politically, the career is stable, I feel like due to the fact that the nature of the market is non-discriminatory in most ways, there is not really any political involvement in people gaining employment unless they are gaining employment as some kind of political figure.
There are no government, parastatal or special interest groups involved in this market, in my opinion, there are no government policies or political groups that could be beneficial or detrimental to the success of the career market.
As a result of this, it would not effect my business at all.
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E- Economic
Economically, the job market’s estimated value is extremely unpredictable as due to the chaotic nature and global scale of the specialist economy that it resides in, one cannot simply quantify it in monetary terms.
My business would fare well within the economy as in my opinion it is an extremely scalable business model and due to the Employment/unemployment rates in this country fluctuating almost constantly, there is always a market for our service.
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S - Social
The demographics of the consumers we target are quite similar, 18-25-year-old creative-minded people without employment.
The education standards in the industry as a whole are not necessarily made for creative-minded people, they’re more suited specifically to people in law, stem or labour work, this can be solved with a business and service like ours being readily available for the public to use.
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T - Technological
Technological advancement is a constant thing, and due to covid 19, “Such creativity and innovation is necessary in any crisis, but heartening during a critical time such as COVID.”
I feel like technology will be a huge part of my business going forward as the whole point of my business is that it is an “online service business” and within that, technology will be needed to keep it running smoothly and efficiently for our customers.
L - Legal
We will be on the constant lookout for “changes in laws, lawsuits and regulations which affect the business” due to the fact that these may impede the running of the business as well as the customer’s experience with our site and service.
“There is often a high cross-over between political and legal factors”, but the difference our business would have to adhere to would be the fact that legal factors cannot be ignored, and we would have to deal with them if they ever came along.
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E - Environmental
Environmentally, there are no real repercussions for us as a business, due to our being online, there is no waste in any way.