Introduction Business Environment included the actors and forces outside the organization that influence management’s stability to develop and maintain successful transactions with its target customers and stakeholders. The objective is to establish the importance of analyzing the types of environmental forces. The environmental forces are political-legal forces‚ economic forces‚ socio-cultural forces and technological forces. In other words‚ these forces (PEST) strongly affect the way of business is conducted
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customers are important? Customers are the most important people for any organization. They are the resource upon which the success of the business depends. When thinking about the importance of customers it is useful to remember the following points: 1. Repeat business is the backbone of selling. It helps to provide revenue and certainty for the business. 2. Organizations are
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The Importance of Corporate Social Responsibility on Global Business Let’s first define Corporate Social Responsibility (CSR) The World Business Council for Sustainable Development (WBCSD): "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large”. EU Definition of CSR: "A concept
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(ref: Unit 2 Types of Business). Mary Chia Holdings is owned and controlled by just one person although it may have many employees. It is the oldest and most common form of business ownership. Not only that‚ it is also the easiest form of business to start with limited funds whereby the owner‚ Mary Chia‚ registered her business under the Business Registration Act. But‚ there is no legal distinction between her personal property and the assets of the business. In case her business fails‚ her liability
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Managing in the Global Environment Assignment 5 Vishalkumar Patel 03/09/15 Leon Guendoo Question 1 Critically analyze the factors that led to Alibaba sustaining its leadership position in the Chinese e-commerce market. Answer First mover advantage: Alibaba started its operations when e-commerce in China was in its infancy stage. Considering the
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Functions of Management in a Domestic Environment The four functions of management are planning‚ organizing‚ leading and controlling. While these functions are applied to the business world‚ they are also applied to everyday family and household matters. The accepted labels attached to these kinds of managers are Domestic Engineers. These managers never leave their humble abodes to work for someone else ’s company‚ but hold just as important and responsible positions within their own company
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| HND 104 The Business Environment | HND Business Management Name: Lauren Turnbull Student No: 04008416 Tutor: Joanne Martin
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As explains that a marketing orientation is a particular form of business or corporate culture reflecting outward-looking management attitudes. Organized around a detailed knowledge of existing and prospective customers‚ outward looking means being highly responsive and proactive to the constantly changing dynamics of the business environment within which any organization operates. It is widely recognized at the start of the twenty-first century that the pace of change is accelerating around
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Detailed Assignment Information: Global Business Assignment 1: | Administrative Details | | Submission Date: 9th January 2013 (midnight): online submission | | Work will be marked out of | 100 | | Absolute value of work | 50% | | Submission Details | | The assignment should be word processed and/or in an electronic format which can be accessed through the technology available on campus. Make sure that you enter your student enrolment number at the top of the document.
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Introduction Business environment is the combination of internal and external factors that influence a company ’s operating situation. The business environment can include factors such as clients and suppliers‚ its competition and owners‚ improvements in technology‚ laws and government activities and market‚ social and economic trends. Environmental forces of political‚ economic‚ social‚ and technological factors. These factors are outside the control of the business. The business can’t do much
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