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Please note that this Assessment document has 3 pages and is made up of 3 Sections.
Name: Steven Dove
Section 1 – Understand why change happens in a business environment
1. Explain why change happens in a business environment. You should include at least three reasons in your answer.
Reasons for change in a business environment may include:
Internal factors • A business wants to reduce waste and costs • A business launches a new product • A business introduces 24-hour customer support • A business introduces quality management techniques
- Political factors
Examples include: • Government (policies, regulations, grants and the government as a client or customer) • International (conflict, political change, pressure groups and trade policies) • Legislation (domestic, European, future legislation, and international legislation)
- Economic factors
Examples include: • Domestic (competitors' behaviour, economic performance of businesses in the UK, trends, tax and interest rates) • International (competitors' behaviour, economy, economic trends, tax, interest rates, exchange rates and trade issues)
Advertising and PR, brands and image, consumer attitudes, consumer buying preferences, demographics, ethical issues, events, media views.