How External Environment Affects Fintrak Software Company Limited Using Pestle Analysis As Your Standard

HOW EXTERNAL
ENVIRONMENT AFFECTS
FINTRAK SOFTWARE
COMPANY LIMITED USING
PESTLE ANALYSIS AS YOUR
STANDARD
PRESENTED BY OSHOBA FACILITATED BY MR AJIBOSE

MAYOWA GBOLAHAN
WHAT IS PESTLE
ANALYSIS? Political
PESTEL Analysis is a
strategic framework used to Environment Economic
evaluate the external

environment of a business by
breaking down the opportunities
PESTL
and threats into Political, E
Economic, Socio-cultural,
Technological, Environment, Legal
Social-
Cultural
Legal factors.
Technologica
l
HOW DOES PESTLE
ANALYSIS DIRECTLY
AFFECT FINTRAK
SOFTWARE COMPANY
LIMITED?
POLITICAL ENVIRONMENT
1. Minimum Wage: The introduction of the new minimum wage in 2019 by

the government increased the recurrent cost of running the company,
which could in turn increase the cost of licensing its products.
2. Incentives: A foreign country incentives and approach towards foreign
investors affects FinTrak business plan when planning to move and invest
in those countries.
3. Political Stability: The political instability in the countries Fintrak
conducts business or intend to conduct business could pose a big threat to
the success of FinTrak operations in the country.
ECONOMIC ENVIRONMENT
1. Unemployment: The level of unemployment as an indicator of the

economy drove most graduate into acquiring technical skills boosting the
pool of technically skilled labor in the labor market.
2. Exchange Rate: The exchange rate is also an economic factor that could
affect FinTrak as it influences the cost of purchasing tools and selling
softwares to foreign clients.
3. Investment Incentives: Incentives from the Government could attract
investors for FinTrak on the long run.
SOCIO-CULTURAL ENVIRONMENT
1. Culture: When moving to a new territory, the way of life and culture of
the people is something to note so as not to offend the natives when
dealing with them.
2. Language: In dealing with any client, communication is key. Language
could be a barrier that hinders or limit FinTrak from dealing with some
foreign investors or clients.
3. Demography: The technology sphere is mostly dominated by the youths.
The demography of new countries FinTrak wishes to extend to could
determine its employment capacity
TECHNOLOGY ENVIRONMENT
1. Technology Advancement: The advantages of technology are that it advances

and gets updated every year which makes FinTrak operations easier.
2. Online Meeting Technology: During the pandemic, the recent trend of online
meeting technology like Zoom, Google Meet, Microsoft Teams, etc. assisted
with the issue of communicating and working together either interdepartmental
or intradepartmental from any part of the country and ensure a continual
working process during the lockdowns.
3. Technological Trend: Due to the advancement of technology and inventions of
new programming language and tools, companies could request for a
conformation to the new trend or that the trend should be integrated to their
applications.
LEGAL ENVIRONMENT
1. Twitter Ban: One of the recent effects of the legal environment to

FinTrak was the ban or temporary suspension of the twitter space which
is one of the main social media outlets used by FinTrak for advertisement
and clients’ engagement.
2. Tax Law: Tax laws imposed by the countries FinTrak wishes to conduct
business in could be a factor in choosing which countries to operate in.
3. Software Licensing: This provision enables FinTrak to license and not
sell its products giving them rights over the distribution and protection of
its intellectual properties.
ENVIRONMENT
1. Pandemic: The recent Covid19 pandemic resulted in the government issuing a

lockdown and a stay-at-home order on companies. FinTrak adapted by
integrating the use of online meeting tools for employees, making working at
home easier and convenient and also saving operational cost for the company.
2. Existing rivals: FinTrak goal of entering the market of new countries could be
mired by the existence of similar companies in the industry that could be
competitors.
3. Insecurity: The reach of FinTrak (establishing branches across the nation) over
the nation as a whole would be impossible due to the unrest and insecurity in the
some parts of the country.
Thank you for your time
&
Success in the exams

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HOW EXTERNAL

PRESENTED BY OSHOBA FACILITATED BY MR AJIBOSE

evaluate the external

1. Minimum Wage: The introduction of the new minimum wage in 2019 by

1. Unemployment: The level of unemployment as an indicator of the

1. Technology Advancement: The advantages of technology are that it advances

1. Twitter Ban: One of the recent effects of the legal environment to

1. Pandemic: The recent Covid19 pandemic resulted in the government issuing a

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