Business Formal report Essay Example | Topics and Well Written Essays - 1750 words

Business Formal report - Essay Example Memo of Transmittal DATE: October XX, XXXX. TO: FROM: XXXX SUBJECT: Business In response to the request made by you on October XX, 2012, I have completed writing the project report after undergoing a detailed research using both primary and secondary sources regarding the various factors related to intercultural communication. I am pleased to present you the project report as asked by you. Please find the report attached herewith. The problem statement in this research study is to develop best practices of intercultural communication for the assigned company. The study has selected United Kingdom as target market for the company. The study used case study of a Polish manufacturer in order to understand existing best practices in the business environment. Based on the findings and analysis of the research study, it is recommended that the company needs to adopt British culture and recruit local people to overcome linguistics barrier in the United Kingdom. Detailed recommendations are illustrated in last section of the study. Please feel free to contact me if you have any questions associated with the project report or if you need any kind of additional information. I will try to assist you in every possible way. Enc. Project Report Table of Contents Table of Contents 4 Scenario 3 6 PESTLE of UK 6 Political 6 Economical 6 Social 6 Technological 7 Environmental 7 Legal 7 Porter’s Diamond Model 8 Chance Factor 8 Factor Condition 8 Firm’s Strategy 8 Demand 8 Supporting Facility 9 Government 9 PIMLICO 9 Strategic Initiative 9 Phases of PIMLICO 10 Case Study on Industry Best Practices 11 Recommendation 12 Conclusion 14 Works Cited 15 Scenario 3 United Kingdom has been selected for the company to open their first international division. A macro environment auditing is needed to be done in order to understand business opportunities present in the country (Henry 52-58). PESTLE of UK Political The political issues represent the ongoing political situation of the country. It indicates the factors such as tax policies, political changes and issues regarding trade restriction, tariffs and the constancy of the government. The political design of United Kingdom is a legal monarchy and also a parliamentary system. The country is very much politically stable. Economical The economic contributors include gross domestic product, interest rates, unemployment rates, inflation rate and growth rate of the economy. The economy of UK is one of the strongest economies around the globe. UK is regards as highly manufacturing country. The other significant sectors of UK include fishing, tourism, agricultural and finance. The official currency of United Kingdom is British pound sterling. Social The social issues include patterns in demographics such as size, population, cultural factors and consumer behavior. The culture of UK regards the idiosyncratic cultural inheritance. British people generally speak English as the local language. It is classified by the existence of dissimilar types of consumers in the market. Technological Factors comprise rate of new product development, increase in process automation and other technical infrastructures such as technology transfer, technology inducements, internet application and research & development. In United Kingdom technology plays central parts of any business.