LESSON 1: INTRODUCTION TO THE BUSINESS ENVIRONMENT Lesson Objectives: The factors that impact on business The internal and external business environment LESSON 1: The Factors That Impact on Business According to Brooks and Weatherston (2000) business environment is a general concept which embraces the totality of external environmental forces which may influence any aspect of organizational activity. BUSINESS ENVIRONMENT Macro Environment Micro Environment Internal Environment
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25TH January 2011 Unit 1 the business environment Private sector P1: Private sector: For the private sector I have chosen the company Chevrolet‚ this is a well known American car company that sell many types of vehicles such as sports cars‚ 4x4s super cars‚ medium duty commercial trucks and subcompact cars. The ownership:/ The type of ownership of Chevrolet is a partnership; the two founders for Chevrolet are Louis Chevrolet and William C. Durant‚ it was founded on November 8TH 1911. The
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Communist Threat Essay Australia responded to the threat of communism both internally and externally. Australia responded to various external threats during the 1950’s. The first threat was the Korean War in 1950 to 1953. Following 1945‚ Korea had been divided into communist North Korea‚ supported by the Soviet Union and later China‚ and non-communist South Korea‚ supported by the United States. North Korea invaded the South‚ and gained control of almost the entire country. Us president Truman
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Look Both Ways is an Optimistic Film. To what extent do you agree? Sarah Watt’s film‚ “Look Both Ways” depicts the initial inability of people to deal with grief but with understanding and communication its shows everybody is capable of dealing with pain. Presented when fear had taken control of the Western World as a result of the horrific terrorist attacks of September 11th‚ 2001‚ Watt convinces the audience that there can still be optimism which leads happiness even when people are fearful
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External Environment of Business In today’s highly competitive market‚ businesses must be aware of the environment in which they operate and the external factors that influence them. These factors can affect the main internal factors of the business and its objectives or marketing strategies. The external environment is rarely stable and many of the external forces can change quickly and dramatically and are usually beyond a firm’s control. Although some external factors can pose a threat to a
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By political system we mean the system of government in a nation (Hill‚ 2007). Supposedly‚ Vietnam’s reform approach based on history above followed “step-by-step” migration to more market based mechanisms of political‚ legal and economic environment rather than quick “big bang” changes (Herold‚ 2004). Initially‚ the persistent division among the political among the political elite has so far prevented the leadership from clear direction and objective setting (Herold‚ 2004). A key feature of state
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To what extent does demographic change represent more of an opportunity than a threat to UK businesses? Demographic change can be defined as the change in characteristics of a certain population which has taken place over history. Characteristics include things like gender‚ race and age. UK businesses can face opportunities due to demographic changes such as a larger and more specific market for business due to demographic change. However they can also face drawbacks such as the struggle niche business
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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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‘Business’ and Its ‘Environment’ Introduction Every business organization has to interact and transact with its „environment‟. The effectiveness of interaction of an enterprise with its environment primarily determines the success or failure of a business. The environment imposes several „constraints‟ on an enterprise and has a considerable impact and influence on the scope and direction of its activities. The enterprise‚ on the other hand‚ has very little control over its environment.
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Samsung operates on both low-cost and differentiation strategies. From the cost data given in the case‚ its low cost is mainly due to lower raw materials‚ R&D and labor cost. Lower raw material cost is achieved through producing multiple product architectures on each production line‚ with skilled engineers stationed to handle all kinds of contingencies. More importantly‚ Samsung is able to learn new design rules and apply it to their production. According to the case‚ Samsung currently uses the smallest
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