To fully understand the foreign markets in which institutions want to invest, they must conduct a PESTEL analysis. Extensive study enables businesses to comprehend many socio-cultural, economic, political, and environmental aspects that may impede the sustainability of the firm (Kotler & Keller, 2016). Peloton limited (an online gym) was selected. John Foley is the company’s current CEO. (O’Boyle 2021). Active fitness training is the company’s goal. Argentina is the country where the company plans to conduct business.
An Overview of Argentina
Argentina was populated by various tribes before 1500 CE. However, in 1502, the first Europeans arrived on an expedition from Portugal. Spain took the country in 1776 and made it a Spanish territory. 1806: The British tried an invasion, but were stopped by the local forces. In 1816, Argentina declared its independence from Spain. In 1825, Argentina was recognized by the United Kingdom. With elections being held each five years, the nation is truly a democratic republic.
Argentina is eighth in South America. Paraguay and Uruguay border the nation to the north, while Brazil and Chile are to its west. The Atlantic Ocean borders the country to the east. Over 2900 miles of coastline make up the length of this country. The country’s coastline is approximately 880 miles in width from east to west, and about 2400 from north to south (Dau Et Ai., 2019,). It is broken down into four regions, with the exception of the western Andes. North is comprised of the highlands, plains, centrally located grassland and the dry, windy, parched region of Patagonia.
More than 75% percent of Argentina’s households consist of couples who are married or have children. Argentina has a 10% percentage of single-parent families. At the local level, male gender roles dominate. While men are more inclined to take on energy-intensive, masculine tasks, women prefer home chores. But the community is improving and more women are taking on traditionally masculine tasks. The labor market is dominated more by men than by women.
Argentina’s literacy rate is 98%. Because Argentina has a higher percentage of people actively involved in education, its literacy rate is 12 percent lower than the global average. Over 20% of Argentina’s population has at least a bachelor degree. Argentina is a democratic country with many parties. However, there is one significant party: the Radical Civic Union (1891), founded. UCR, a liberal group that advocates a leftist view of the world is more progressive than other organizations. Justicia list Party is the second political party. It promotes participation by labor unions to political activities. Following the elections, there was a lot of political stability in Argentina and a swift change of the power. Argentina is considered a society of high context, which means it values collaboration more than individualism. Group participation is preferred over working on individual projects. Argentinians also value implicit communication over explicit contact. The emphasis is on the way the message is communicated rather than the words (Dau and co., 2019, p.