today’s global and competitive business environment‚ business organizations are striving to stand out from their competitors and attract targeted audience by providing consistent and reliable customer service. However‚ if a business organization is to implement effective customer service programs‚ they must have their employees acquire a set of skills that collectively encompass the business social/interpersonal area. Although business social/interpersonal skills cover many dimensions of business‚ some
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(1)What is a Business Environment? Answer A Business Environment is the physical and operational factors‚ both internal and external‚ that affect the flow of activities in a business. They include; customers‚ competitors‚ suppliers‚ distributors‚ industry trends‚ substitutes‚ regulations‚ government activities‚ the economy‚ demographics‚ social and cultural factors‚ innovations and technological developments. (2)What Are the Types of External Business Environments? Answer There are many types
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Chapter 1 Business Environment Q 1. Ans. What is Business Environment? The term Business Environment is composed of two words ‗Business‘ and ‗Environment‘. In simple terms‚ the state in which a person remains busy is known as Business. The word Business in its economic sense means human activities like production‚ extraction or purchase or sales of goods that are performed for earning profits. Q 2. Ans. Define Business Environment. The elements or factors outside a business organization
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MODULE -3 Business Around Us Notes 3 BUSINESS ENVIRONMENT nderstanding the environment within which the business has to operate is very important for running a business unit successfully at any place. Because‚ the environmental factors influence almost every aspect of business‚ be it its nature‚ its location‚ the prices of products‚ the distribution system‚ or the personnel policies. Hence it is important to learn about the various components of the business environment‚ which consists of the economic
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Chapter 1 Hong Kong’s Business Environment Think it over (p. 2) 1 Arguments for: lower costs (e.g.‚ rent and salary)‚ larger space for expansion‚ and a better living environment for workers‚ which makes it easier to recruit overseas staff. Arguments against: high relocation costs‚ poor communication network‚ restricted flow of information‚ far from China’s market‚ increase in transportation costs‚ difficult to hire skilled labour. 2 When considering relocation‚ students should
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University Course Name: Business Environment Preface The objective of this course is to provide requisite knowledge for successful business manager. To develop the understanding of the cultural‚ demographic‚ social‚ economical‚ political‚ technological and legal environment within which the business operates. Provide knowledge on how to adapt with the changing environmental situation. It also discusses the issues related to the relationship between business and society. The question
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INTRODUCTION TO BUSINESS ENVIRONMENT Chapter Outline : • Introduction • Meaning of Business • Business Objectives • What is Business Environment ? • Nature of Business Environment • Components of Business Environment • Determinant of Business Environment • Review Questions • References Introduction : Business environment is becoming highly complex‚ unstable and unpredictable in the globalised economy of today. The environment is the result of
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Business Environment Section 1 A1) The major achievements of China’s Huawei Technologies in the areas of its specialization are that they won the contract to build Norway a fourth generation (4G) mobile network‚ the deal was the largest so far for the new LTE technology in Europe making it a milestone for Huawei. The report by research firm Ovum found Huawei was the undisputed leader in the telecom optical equipment market. Huawei and fellow Chinese firm ZTE‚ it said‚ are the only two vendors to
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NAME: TAHIR M SULTAN UNIT: 4 (BUSINESS ENVIRONMENT) ASSIGNMENT NUMBER: 1 ASSIGNMENT TITLE: THE CASE: MCDONALD LECTURER: Mr. Hamid Rahim SUBMISSION: 11-10-2011 1. LIST SOME STAKEHOLDERS OF MCDONALDS. CLASIFY THEM AS INTERNAL‚ CONNECTED AND EXTERNAL TYPES. Stakeholders can be defined as “individuals and groups who are affected by the activities of an organization. The most important stakeholders can be seen as those with most to lose from the organization’s actions‚ but this does
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George Coulston Unit 1 Business Environment D1 1.0 INTRODUCTION In this assignment I will rank the stakeholders of Tesco relating to importance to the organisation with 1 being the most important and 7 being the least important. I will then write a statement about the importance of each stake holder relating to Tesco. 2.0 IMPORTANCE OF STAKEHOLDERS STAKEHOLDER | IMPORTANCE 1=HIGHEST - 7= LOWEST | JUSTIFICATION | Customers | 1 | Customers are the most important stakeholder
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