PEST analysis sample – Term Paper

3. PEST analysis social factors

3.1Lifestyle Trends

The dynamic change in peoples’ way of life will make them do away with things that are not basic to them. When the living standards of people start changing, then, they will opt to forego matters to do with their own country’s optical sector. The optical sector ought to keep its patients in check so that whenever they start realizing greener pastures in life they do not walk out on the latter sector for “better ophthalmic services” elsewhere. 

3.2Fashion

Living a life that is coexisting with the current world will always make people go for things that are pacing up with the dynamic fashion change. With this regard, customers will become choosy on what they want from optical firms. Interacting with people mostly in order to understand their tastes and preferences is a better step in handling the fashion trends that people are aiming at. Once a firm meets the fashion demands of the people, then, it will be able to realize maximum sales from the market. The optical sector should regulate the rate at which it makes adjustments in its productivity to meet the customers’ fashion needs as sometimes the adjustments might be so much consuming than the sector can realize which later advances to heavy losses to the firms.

3.3Local trading conditions

The society will always give priority to its way of living which has to do with their trading conditions. The conditions might be so limiting to the optical sector, therefore, hindering optical services from being offered to the local community at that particular locality. Thus the optical sector has to stoop low to the local trading conditions set by the society so that they do not traverse the conditions, a situation that might lead to them being barred from issuing their services at the specific location.

3.4Exposure

The strategic location of an organization will always grow attention among people in that they will always be in dire need of knowing what takes place at the organization. This can be an easy way of marketing products produced by the organization. Locating a firm in an area that is remote limits the accessibility of services by people from maybe urban areas despite how good the services maybe. 

3.5Local population mix

A society will always be influenced by people who are in the limelight even if those people are wrong. The optical sector, therefore, is challenged to take a step in convincing the people in the latter society for them to go after their services. The elderly people will be much interested in listening to what good thing that a firm has to offer them as they are vulnerable due to age catching up with them (see Appendix a). Unluckily, the case is different with the youth in that, they will always be ignorant due to the presumption that they already know what the marketer is advertising. The population targets, therefore, must be considered when reaching out people. The youth can be addressed with their peers as they understand the platforms which they can freely make businesses work.

3.6Insecurity

Insecurity has remained a drawback factor to many organizations in the work sector and the world at large. Burglars breaking into optical shops and centers and stealing valuables derails the optical sector from developing any further. Insecurity also scares away customers from accessing sight medications in the local optical medical centers. This affects the health sector at large and the economy of the country. Insecurity of funds also has a negative impact on the running processes of a sector in the economy due to factors such as breaching of contracts and embezzlement of funds. Investors are also scared away when the prevailing security conditions are wanting.

4. PEST analysis technological factors

4.1Computer Technology

Advancements in technology are taking place at a rapid rate which if not monitored by a firm, then, it will always lag behind its competitors who are updated on the advancements. It is, therefore, a duty to a firm to have its radar on top to always remain posted on whatever changes that are taking place in the optical industry. Everything has gone digital and the traditional old ways of doing things are slowly eliminated and in case a firm has not done away with the traditional forms of operation, then the firm will always be outsmarted by its competitors who have adapted to the new changes. Currently, all information about patients is computerized but a challenge comes in when a firm does not have the necessary personnel who are able to conduct the advanced technological systems. Firms that still have paperwork are considered obsolete.

4.2Frames and lens materials

Frames and lens materials for spectacles are highly on demand. Preference is made on well-designed frames together with high-quality lens materials. This means, therefore that a firm has to acquire the necessary frames and lens materials according to the customers’ needs otherwise it will have to suffer the loss of losing the customers to competitors offering the well-designed frames and high-quality lens materials. Acquisition of chromatographic lenses is in high demand as it is a mode of fashion trending too. The optical sector needs to initiate ways in which it can acquire frames and lens materials that are of high quality so that the sector is not outsmarted by other competing sectors. 

4.3Contact lenses

Many people want to have an easy solution to their eye defects by using contact lenses in place of putting on spectacles. Contact lenses are very expensive and are not readily available in many places. Thus, in cases where the contact lenses supply is required, expenses must be incurred for the lenses to be acquired. The optical sector needs to get in touch with firms that produce contact lenses and negotiate on the pricing of the lenses in order for the optical sector to have a continuous supply of the contact lenses.

4.4Laser surgery

The low number of opticians available to carry out laser eye surgery on myopic patients is a big blow to the optical sector. The number of optical centers and optical equipment required in performing laser surgery is also low. Patients are also not able to meet the bills required in undergoing laser surgery. Countries with more proficient laser surgeons must be willing to supply the surgeons to countries that have few laser surgeons in order for them to keep a balance in the optical sector.  

4.5Internet systems

The systems that require internet connectivity in the optical sector have to be updated on a regular basis to avoid obsoleteness. Most optical sectors in third world countries do not have a constant flow of internet systems which makes the sector vulnerable to cyber attacks which are always very intense with regards to the loss of discreteness of patients’ information. When patients start losing their trust in the optical sector due to mishandling of information, then, the optical sector will have a problem winning the patients’ trust over due to technological faults (Gaudion, et al 2011).