PESTEL analysis and apply the various macro-environmental factors that impact the business.

PESTEL analysis is a framework tool used by the organization to monitor and analyze the organization's macro-environmental factors.

Toyota UK establishes its business in the UK. Toyota is a car manufacturing brand. They are doing their business globally. They have to use PESTEL analysis to monitor the market.

Political Factor

In the political factor, the main object is governmental intervenes in the business market. The government plays a significant role in the business world. They made laws and policies to maintain a good market environment. But sometimes, it is not beneficial for the organization. Toyota operates its business all over the world. UK government implement some police regarding tax. For that reason, Toyota UK's early revenue decreased by 2%.

Economic Factor

The economy is a significant factor in measuring the current situation of the country. The economic growth will be indicating the businesses are running well. GDP growth, interest rate, and other things fall under economic factors. If the GDP growth is well balanced, the analyst can assume that the business environment is good. Toyota UK operates its business in the UK. In recent time UK GDP growth assumption is 1.5% GDP growth. It is a positive sign of the companies are doing good in the UK.

Social Factor

Social factors of a business environment, the cultural belief of that region, includes population growth, age divided, etc. The organization has to research the customers and their behavior deeply. Customer's choices vary to places, and their choice and preference change over time. It's necessary for the organization to observing the customer's demand. Toyota UK can face problems regarding evolving customer behavior. UK peoples are shifting to electric cars over diesel cars. Toyota UK has not planned any plan to make electric cars. They can face trouble.

Technological Factor

Technology is a vital thing in any business. The customers are more attracted towards the latest thing. Every organization tries to invent new something to attract customers and gain market share. Now days are very challenging for the business. The technological upgrade increases rapidly. The company cannot balance some points. Toyota UK manufactures cars for their targeted customers. A few years later, the electric vehicle will be captured in the market. Toyota UK has to think and do something to upgrade their cars for their customers.

Legal Factor

The legal factor is the external factor. It refers to how the law influenced the business. Legal aspects are only concerned about the right thing. Rules are made to prevent unethical practices. Toyota UK establishes its business in the UK. Toyota is a car manufacturing brand. Import commission publishes new policy for the car export. And indirectly and directly affects the organization.

Environmental Factor

The environmental factor is the external factor that the company has to keep in mind when they do their operations. The organization has to ensure that its practices don't harm the atmosphere. Toyota UK manufactures the cars in the UK. They have to ensure less carbon dioxide possesses.

Highlighting the positive and negative impacts of macro environment in Toyota UK;

Macro environmental factor includes economic, technological, societal influence in business. One of the technical influences happens in Toyota UK. Technological advancement is an excellent thing in any industry. By the technology, the customers are more attracted towards the latest thing. Every organization tries to invent new something to attract customers and gain market share. A declining economy decreases the customers' income, and they purchase less according to their needs, and Toyota UK will face losses for that reason.

Analysis SWOT to distinguish their key strengths and weaknesses. Clarify how the strengths and weaknesses applied to interrelate with full-scale outside factors and are utilized in the dynamic interaction in Toyota UK

Swot analysis is a framework using that the organization identifies their Internal and external factors. In the business, the organization has to analyze the elements not to get surprised by any aspect. Swot analysis includes strength, weakness, threat, and opportunity. They are now identifying Toyota UK's strengths and weaknesses.

Strengths

Strengths are the things that the company can excel in their business and earn a substantial competitive advantage in the market. If the organization has to scale their profit share, they have to identify their strengths. Because their strengths are the key factor in the market. The company has a considerable advantage in that sector where others don't. Toyota UK has lots of strengths to gain a competitive advantage. Toyota UK is a market giant; they have higher technology with a varying product range level. Toyota UK has an excellent corporate culture to satisfy their customers' needs. The customers and the employees are very loyal to Toyota UK. The loyal customer base helps them to motivate invent new products for their customers.

Weaknesses

Every organization has a weakness. But the most intelligent thing is that identify the weakness and overcome that weakness. Weakness is created because the organization tends to work as the reactive approach. To solve their short-term problem, they missed some things. Toyota UK establishes its business in the UK. Toyota is a car manufacturing brand. They are doing their business globally. Toyota UK wants to expand its business all over the world. Their weakness is they invest lots of money in different sectors. For that high investment can harm their manufacturing unit that reason. Toyota UK operates its businesses in many countries. They have little knowledge about every countries culture. It can hamper their business.

Interrelation of strength and weaknesses with the external macro factors:

Strength represents where the organization good at and the quality that make the organization separate from their competitors. Strengths are the things: the organization can dominate their business and procure colossal upper hand on the lookout. If the association needs proportional their benefit share, they need to recognize their strengths. Since their strengths are the vital factor on the watch. Weakness obstructs the organization from operating its whole level. Weakness is created because the organization tends to work as the reactive approach. To solve their short-term problem, they missed some things.

Toyota UK has strengths and weaknesses that have a connection with the external macro factor. Toyota UK has a large loyal customer base. This is the main strength of Toyota UK. The external factor that connects with that social factor. Social aspects of a business environment, the cultural belief of that region, includes population growth, age divided, etc. The organization has to research the customers and their behavior deeply. When Toyota UK takes customers' action to choose, the customers will be pleased with their product. That's how Toyota UK straight interrelated with the social factor. Toyota UK invests a lot in other sectors. Suppose the political factor influenced their investment. Toyota UK will face lots of trouble in their business.

SWOT analysis and justification of it in decision-making:

Strengths

Toyota UK has lots of strengths to gain a competitive advantage. Toyota UK is a market giant; they have higher technology with various product range levels. Toyota UK has an excellent corporate culture to satisfy their customers' needs. The customers and the employees are very loyal to Toyota UK. The loyal customer base helps them to motivate invent new products for their customers.

Weaknesses

Toyota UK establishes its business in the UK. Toyota is a car manufacturing brand. They are doing their business globally. Toyota UK wants to expand its business all over the world. Their weakness is they invest lots of money in different sectors. For that high investment can be harmed their manufacturing unit for that reason. Toyota UK operates its businesses in many countries. They have little knowledge about every countries culture. It can hamper their business.

Opportunities

Toyota UK has lots of opportunities in the future. Toyota UK manufactures cars. Car is an essential thing. Toyota can capitalize their business for future growth. Toyota UK has a chance to acquire the market share by launching their new models of cars. Toyota UK can invest in electric cars for future. In the end, people are going to looking for an electric car over diesel cars.

Threats

Toyota UK provides good to their targeted customer. With that product, the customer will be satisfied. There is changing buying behavior that exists in business. Customers' demands and needs are change over time. Suppose customer's tastes vary in Toyota cars. Toyota UK will be in big trouble. In the future European countries can boycott diesel cars to save the environment. If that happens, Toyota UK will face problems.

SWOT analysis is a framework that helps the organization to identify its internal and external factors. Toyota UK's external and internal factors are very vague. By the SWOT analysis, Toyota UK can make effective decisions for their organization. By the SWOT analysis, Toyota UK can identify where they are good at. Works on that particular area to gain more advantage to acquire the market. Also, Toyota UK can identify its weakness and threat. Keep that in mind they can move forward. Opportunities will help Toyota UK to the made new strategy. That's Toyota UK can make effective decisions by using SWOT analysis.

Critically evaluate the impact of both macro and micro factors upon business objectives and decision-making.

Toyota UK has an excellent strategic position in the market, and Toyota UK has a loyal customer base who purchase their product after evaluating the external and internal factors. Toyota UK wants to expand its business in a different region. Toyota UK has an excellent strategy to enter a market. They have a price differentiate strategy to attract the customer's attention. When they started to operate their business in a different region, they will face a range of competitors and political and legal factors in those countries that will affect their business. Toyota UK has a good source of revenue. They sell a different model of cars at a low price to their targeted customers. Toyota UK faces a problem because of government introduce a new policy in export the goods. Other countries have different export policy systems. Toyota has to keep that in mind while they want to take the major decision for their organization. But sometimes, it is not beneficial for the organization. Toyota operates its business all over the world. UK government implement some police regarding tax. For that reason, Toyota UK's early revenue decreased by 2%. Toyota UK can face problems regarding changing customer behavior. UK peoples are shifting to electric cars over diesel cars. Toyota UK has not planned any plan to make electric cars. They can face trouble.

Both macro and micro factors influenced the decision-making process. These factors are not in Toyota UK hands. They have to act according to the situation. But these factors can damage the business also can be beneficial for Toyota UK.