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Respond to discussion board # 1NF

PESTEL Analysis: BMW

Political

One of the main political issues facing BMW is the Brexit deal where Britain left the European Union. Because there is free trade among the European Union, this is troublesome for German based BMW, as the Mini models are produced in Oxford in England. Due to the possibility of tariffs being placed on vehicles, this could have severe repercussions for European consumers by way of increased cost. There would also be detrimental effects to BMW sales. 

Economic

Economic factors affecting BMW are currently attributed to the Covid-19 pandemic. In August of 2020, BMW reported a quarterly loss of $790 million, related to a 25% sales decrease.

Socio-Cultural

Because BMW is a multinational corporation, careful consideration must be placed on socio-cultural norms within different countries. To be successful within these different countries, there must be an acceptance and understanding of not only cultural differences, but also language and religion. There must also be careful thought placed on how products are marketed, which may include modifications to appeal to a particular population of consumers .

Technological

With the introduction of the Tesla in 2008, the automobile industry has had to keep innovation at the forefront because of such things as autopilot features and full-self driving features. With Tesla at the helm of this technology, BMW will have to continue to develop similar technology in or to compete in the future.

Environmental

With an increased demand for more environmentally friendly cars that are more fuel efficient, BMW will need to increase its focus on reducing CO2 emissions with the development of more hybrid and electric options.

Legal

To avoid legal repercussions, BMW must be observant of quality and labor laws in the countries in which they operate. Having an in-depth knowledge of the legal systems in different countries, where operations take place, will help the company to avoid possible sanctions.

Strategic planning could be impacted positively by addressing the concerns and potential impacts of the PESTEL analysis. By addressing the concerns, failures can be more effectively mitigated.

Respond to discussion board # 2

Introduction
Keeping a competitive edge over one's rivals is essential for companies, as it enables them to maintain their position in the market while also allowing them to remain one step ahead of their rivals. This necessitates taking a strategic approach, preparing thoroughly, and being flexible enough to adjust to ever-shifting market circumstances. In this, I will describe how the company that I now work for has managed to maintain a competitive edge in our sector of the market.
Putting an Emphasis on Client Service
The fact that we place such a strong emphasis on providing excellent service to our clients is one of the primary reasons we have been able to maintain our market edge. We are of the opinion that offering outstanding customer service is absolutely necessary in order to cultivate long-term connections with our clients. We have made significant investments in our staff' training to ensure that they are equipped with the knowledge and capabilities necessary to offer great customer service. Our staff members have received extensive training to ensure that they are attentive to the requirements of our clients and able to provide them the most suitable options.

Services of a High Quality
Our unwavering dedication to delivering high-caliber services is just another component that has helped us achieve a position of preeminence in our industry. When it comes to gaining the confidence and credibility of our patrons, we consider quality to be of the utmost importance. In order to guarantee that our services are up to par with the industry's most stringent criteria, we have put in place stringent quality control procedures. We conduct routine audits of our procedures, during which we look for places where we may make enhancements and then implement any required modifications in order to maintain or improve the quality of our services.

Maintaining a Lead over Current Trends in the Business
We are also aware of the significance of being one step ahead of the trends in our sector in order to preserve our position as the industry leader. We devote resources to research and development in order to keep abreast of developing tendencies and technologies that may assist us in enhancing our services. We make it a point to attend conventions and gatherings held by our sector on a regular basis in order to be abreast of the most recent trends and advancements in our field. Because of this, we are able to predict shifts in the market and adjust our strategy in accordance with those developments.

Participation in the Community
Lastly, we are of the opinion that being involved in the community is necessary in order to keep our edge over the competition. We are strong supporters of the local community, actively engage in community activities, and lobby on behalf of our industry. We are able to strengthen our connections with our customers, our suppliers, and any other stakeholders as a result of this. It is also helpful for us in promoting our brand and setting ourselves out from the other companies in our industry.

Conclusion
In summary, sustaining a competitive edge calls for both a strategic approach and a readiness to adjust one's operations in response to changing circumstances in the market. My current company has been able to retain a competitive edge within our sector by putting an emphasis on customer service, offering excellent services, keeping ahead of developments in the business, and being engaged in the community. Because of these efforts, we have been able to develop a devoted consumer base and remain one step ahead of our rivals.