PESTEL analysis of country Azerbaijan Coursework

PESTEL analysis of country Azerbaijan - Coursework Example The nation gained its independence from the USSR in 1991, and it had declared its state sovereignty in 1988 (Plunkett 2008, 09). Since then, it has had conflict with the neighboring nation, Armenia (Luca 2014, p. 12). The conflicts lasted from 1988-1994, but a ceasefire was established in 1994 when the separatists were looking for full independence from this nation, and they had control over Nagorno-Karabakh, as well as the seven provinces that surround it. This paper evaluates the PESTEL analysis of Azerbaijan country, and this consists of the political, economic, social, technological, environmental and legal factors of the nation. Azerbaijan still seeks control over these areas; on the other hand, it has been hard to get the solution through diplomatic means. Its economic status relies on the oil and gas. They also have beautiful temples, which act as the tourist attraction. It has learned to use bountiful natural resources, as well for industrial fuel (Murphy 2014, p. 42). The country has a well-established infrastructure, and development of banks, retail shops, and real estates, though the greatest challenge is the financial crisis. The economic growth has grown from 2006 to 2008 before dropping down by 3.7% in 2010. The economic status experience rapid growth with use of the available natural resources, but it has been affected by corruption (Schmidt 2009, 15). However, transparency is the key of the nation and it is ranked 134 among the 178 nations that practice corruption, though the nation has tried to reduce the vice. Culturally, Azerbaijan has gone global, and could win the Eurovision song contest in the national wide music competition (Murphy 2014, p. 20). For a company to go global it has to analyze the foreign markets and understand the major factors that might affect the operation of the new product. One strategy of understanding the nature of a country is to carry out PESTEL or PEST analysis, which consists of the