Progect Essay Example | Topics and Well Written Essays - 500 words

Progect - Essay Example Forecasting economic forces is one of the major challenges for many organizations. Some of the market forces include changes in the inflation rate and economic recesses. Currently, the economic system is stable and the country is not experiencing economic changes. Our product is expected to make maximum sales in these economic times (Beckwith 14) Social forces are also great determinants of the success of any business operation. Social issues are directly related to the customers, who are the end receivers of the product. Some of the social forces include the beliefs, cultures, customs and traditions of people. Our product is targeting sports men and women in the university. Most of the students are multicultural and our product has considered this, coming up with a product that is sugar free (Beckwith 18). For any organization to succeed in the contemporary market environment, then it should consider the technological issue. Our company has adopted computer technology in coming up with our budget and other strategic plans. Apart from technological, legal factors are also very import6ant because they determine the marketability of a product (Beckwith 19). Our company has however fulfilled all the legal requirements, which include search for an operating license and paying the required legal fee to the required councils. Our target customers in this case are university sportsmen and women. According to Beckwith (22), all the stakeholders in any business environment are affected by these macro-environmental forces. An increase in the government tax will definitely force us to increase our prices. This will later on affect the consumers. Social factors might also affect our customers because we have only decided to produce sugar free drinks and there those sportsmen and women who prefer drinks full of sugar. By employing technology in our company, will effectively create a competitive advantage that will make us relevant on the market. According to Beckwith