Pest Analysis for Icon International Inc.
Icon International Inc. is an American corporation headquartered in Greenwich, Connecticut. The company started in 1986 and has since been in operation for over 35 years (Icon, 2020). Icon International Inc. is a corporate barter company that helps other companies with excess or unwanted inventory, real estate, or capital goods that are not bringing quality returns on investment to start making a profit. For most of the companies involved, Icon helps raise the ROI of these assets from between 10-40% to become 100% book value-generating ventures (Icon, 2022).
Icon International is highly favored by the American political environment. For instance, Icon is in full compliance with the Sabarnes-Oxley Act, which protects investors from fraudulent reporting by corporates (Kenton, 2020). This limits competition from potential threats that look to misrepresent their figures to garner a larger market and public interest. In addition, Icon is the only corporate trade company holding intellectual rights patent for the invention of the cash-trade transaction, putting it ahead of its competitors in the market (Icon, 2022).
The economic landscape in America and worldwide also favors Icon Inc. Given most of the world economies have been significantly improving, Icon Inc. can easily make profits from assets that were initially abandoned because of the increased purchasing power. In addition, factors like inflation sometimes affect profitability as prices of commodities and services increase, especially in real estate investments higher profits (Kawaoka, 2020).
The major social factor affecting Icon Inc. has been population growth. An ever-increasing population is a positive attribute in the environment for Icon because it increases the buying power, hence more profitability on assets. With the knack for capacity-driven industries like media, the increasing youthful population is a blessing (UN, 2019).
Lastly, technology has changed how Icon Inc. operates since its inception in 1986. Better technology has improved a wider reach to clients, enhanced management of assets and tracking of profits, and enabled better analysis of where assets could make more stable returns. As such, technology has significantly helped to grow the company to span more international markets.
Icon. (2020). ICON International, Inc. Retrieved August 28, 2022, from http://www.icon-intl.com/
Icon. (2022). About Us | ICON International, Inc. Retrieved August 28, 2022, from http://www.icon-intl.com/about-us/
Kawaoka, L. (2020). Council Post: How Rising Inflation Impacts Real Estate Investments. Retrieved August 28, 2022, from Forbes website: https://www.forbes.com/sites/forbesbusinesscouncil/2022/04/20/how-rising-inflation-impacts-real-estate-investments/?sh=208393ed11da
Kenton, W. (2020, February 4). Sarbanes-Oxley (SOX) Act of 2002. Retrieved from Investopedia website: https://www.investopedia.com/terms/s/sarbanesoxleyact.asp
Susan, A., & Novianti, W. (2019). Benefits of Technology for Business. IOP Conf. Ser.: Mater. Sci. Eng., 626. Retrieved from https://iopscience.iop.org/article/10.1088/1757-899X/662/3/032036
UN. (2019). International Youth Day, 12 August 2019. Retrieved from https://www.un.org/development/desa/youth/wp-content/uploads/sites/21/2019/08/WYP2019_10-Key-Messages_GZ_8AUG19.pdf