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Economics in Business

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It is often seen just as a starting point – emphasizing the need to test the conclusions and findings against the reality (The PEST or PESTLE Analysis, 2009). Furthermore, PESTLE analyses are time-consuming and assume a static business environment that is not in line with the business reality. Still, it provides a useful snapshot image of a firm’s position. The UK represents a better example of a great first world country so most of the people in the world economy feel that the UK provides a stepping stone to something better than what they are experiencing in their normal existence. Expansion and capitalism have made the survival of the fittest the only real truth of man’s existence. the purest implications of economics on our lifestyle. Therefore, the constant struggle to be the very best in all spectra is the main goal of every individual in the world The best means of education provided by the UK business institutions vis-à-vis the passion and conviction of the people in the global community to achieve the best academic experience that is available to them Next, the author will conduct a Five Forces analysis of the competitive environment that Southampton Solent University operates in. The Porters Five Forces model does have some limitations. For example, it assumes a static business environment, which is not wholly accurate with regards to the highly dynamic and fast-moving airline market. Furthermore, it is not able to take into account new business models and the dynamism of the industries, such as technological innovations and dynamic market entrants from start-ups that will completely change business models within short times (Porters Five Forces Analysis).