How the Political Environment Impacts Your Business?

In the political world, one phrase you’ll hear over and over again is “reputation.” It’s a word that encompasses different meanings, but essentially it comes down to how well-liked or trusted your company is by customers, vendors, and perhaps most importantly, potential future consumers. This article will explore why the political environment impacts your business

Political Environment and Consumer Demand

The political environment has a significant impact on consumer demand. This is largely due to the fact that consumers are more likely to purchase products and services that align with their political leanings. That’s why, for example, you might see more people purchasing red “Make America Great Again” hats or t-shirts or purchasing and wearing “Fight for $15” buttons.

This is partially a way for people to show their support for certain political ideals, but it’s also a way to align themselves with a particular political identity. This is true not just for apparel, but also for other products and services. For example, if you’re in the gun industry, you know that sales skyrocket during times of political unrest.

Government Regulations and Taxes

The political environment can also impact your business if there are changes in government regulations or taxes.

This can have a positive impact on a number of different industries, such as agriculture, telecommunications, and technology. This change in the political environment directly impacts taxes and can be a huge boon for certain industries.

Other changes in government regulations can have a more subtle but also a significant effect on your business. For example, if the government made strict regulations in terms of parking, then towing companies, like San Jose towing, will benefit since the chances of potential clients would sky rocket.

Reputation Management in a Political Environment

While much of this article has focused on political environment, there are also ways in which you can manage your reputation during this time. One important strategy is to closely monitor current events and be aware of how they could impact your business. For example, if a state passes legislation that negatively impacts your industry, you should be prepared to address it as soon as possible. You don’t want to wait until consumers start complaining about the issue.

Why You Should Consider Entrepreneurship in Politics?

Politics and business may not seem to go hand in hand, but the truth is that politics offers a unique opportunity for entrepreneurs such as SEO agency based in Toronto. After all, no other industry places as much emphasis on personal branding as politics does.

This means that people looking to climb the social ladder can use their visibility during political campaigns to catapult their careers.

Why You should make Business in Politics?

The trick is knowing how exactly you can leverage your business acumen and insider knowledge of the political landscape to achieve your goals. Whether or not you’re actively pursuing a career in politics, getting involved from an early stage can help you secure a position at a company you like with potential for future growth later on.

As an entrepreneur, understanding why this is so and how you can use it to your advantage is key. Here are some steps to make your business in politics a success.

It helps you Build Connections

If you want to take advantage of the personal branding benefits of entrepreneurship in politics, you need to be aware that the field is very competitive and that the competition is fierce.

Because of this, you should choose to get involved in politics if you want to maximize your personal brand—meaning you should get involved only if you have an exceptionally compelling story to tell. 

You also need to be mindful of the way you use your image and reputation to promote these campaigns and causes.

How to make Your Business a Success?

There are several ways that you can actually thrive here and the following are just a couple of them.

  • Networking Opportunities – Networking is one of the most important parts of any entrepreneurial venture. Entrepreneurs who network effectively can access valuable information and resources they might otherwise have missed out on.
  • Showcase your Talent and Expertise – Entrepreneurs who get involved in politics are often viewed as experts in the field. No matter what role you play in a political campaign—you have the potential to be viewed as an authority in your field.

Bowling in Business and Politics

Nearly all the bowling alleys are going to fall in the Netherlands, a country in Europe, based on chairman Frits vehicle Dijk of the Dutch Association of Bowling Entrepreneurs (NVB). The entire business industry hopes that peace will come very shortly so that they can at the least serve good food and beverages to bowling customers again. Chairman Van Dijk states that the catering industry must start again in a way that they should not at least return to a predicament. The customers may now come back to the bowling centers but must bring their very own beverages. Customers, therefore, buy their own beverages at a snack bar alongside the bowling alley. Because of the procedures, they are banned to remain and sit there again since it was sniffed by the rats.

Can’t afford any more

Entrepreneur Monique Wirtz of Bowling Huizen does not know whether she will still manage the business in a couple of weeks. Wirtz says that if she cannot anymore provide not only food and beverages to customers or guests but also the good quality of the types of equipment in the bowling center, especially the best of the bowling balls – she cannot further start to run the business before the year ends. She does not just have many options to deal with it.

She only has around Forty Thousand to Fifty Thousand euros of fixed monthly expenses, while only One Thousand euros just comes in. Monique hopes to finally hear the great information against her greater judgment. She says that the press discussion is extremely important for her and for the business that something or anything must actually occur rapidly, otherwise, she would not able to make it.

The support needed

Frits vehicle Dijk of the NVB is one of the many in this. “We truly need support. We have been working for eight weeks to get it. The civil service is extremely gradual, there is no movement. If I see this week that 40 to 50 million are released in a couple of days for assistance offered in the fireworks industry, then I almost explode.”

 

Politicians Are Switching To Business?

Politicians who switch to the corporate world often get negative in the news. This creates an image of ‘revolving door politicians’, without it being clear whether this is justified. This article explains what kind of Dutch ex-politicians had a great chance of ending up in the business world in the past ten years.

 

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At the beginning of 2016, VVD MP Bart de Liefde decided to continue his career as a lobbyist at the transport brokerage company Uber. A salient detail is that as a Member of Parliament two years earlier, as spokesman for Competition, he made a plea for Uber. It is not the first time that a politician has made a remarkable switch to the private sector. The best-known example in the Netherlands is Camiel Eurlings who, shortly after his departure as Minister of Transport, Public Works and Water Management, became CEO of KLM. The most striking example in 2016 at the international level was José Manuel Barroso. The former president of the European Commission found a job at Goldman Sachs in London.

Reasons to switch

Whether switching from politics to business is socially desirable is under discussion. For example, it is undesirable for a politician to do favors to a company in the hope of later getting a lucrative job in return. On the other hand, it is also undesirable if an ex-politician does not have the opportunity to use his knowledge and experience where it is best used. Mattozzi and Merlo (2008) argue that there are two types of political careers: there are people who are primarily politicians – they remain active in politics until retirement – and there are people who are active in politics for a while – they time to switch back to the private sector. According to the authors, the most skilled politicians choose to send signals about their skills to the labor market, while the least skilled politicians – due to their poor performance – are forced to leave the political sector. As a result, both the best and the worst politicians end up in the private sector, while the middle-rank in the political sector lags behind. The second reason that may play a role is a political ideology. The idea is that right-wing MPs are more often out to monetize their political careers. That taking right-wing positions is often accompanied by a greater focus on self-interest has been confirmed by, for example, Powdthavee and Oswald (2014).

Dataset and estimate

The Dutch ex-politicians in this study are all members of parliament and ministers and state secretaries who, between 2006 and mid-2016, left the House or their posts or did not return to their party’s electoral list. The ex-politicians are divided into three groups, depending on where they worked in mid-2016: in the private sector (e.g. lobbyist, entrepreneur, or consultant), in the local political sector (e.g. municipal councilor, mayor, or alderman), or other (e.g. NGO employee, teacher, pensioner). If an ex-politician has multiple jobs, including one in the private sector, he counts in this analysis as working in the private sector. For example, former Prime Minister Jan Peter Balkenende works as a professor at Erasmus University and as an advisor at Ernst & Young, so he is assigned to the private sector. In this study, he has been assigned to the private sector. The information for this research was obtained via the website of the Parliamentary Documentation Center, the LinkedIn site of the ex-politicians, and from various news sources. The following are included as explanatory variables: the list position (1 for the party leader, 2 for the number two, etc.) the (party) ideology on the left-right spectrum of Kieskompas (between -6.5 for a SP’er and 7 for a VVD member) and whether an ex-politician has a job history in the private sector. All regressions were also controlled for age, age squared, gender, political experience, and education level. It has been estimated with a probit model. The dataset contains a total of 150 outgoing politicians in that period. As of mid-2016, 48 of them were employed in the private sector, 61 in the political sector, and 41 others.

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