Legal Requirement
Refers to the business related legislation passed by local, state or federal governments, as well a decisions made by the courts, that protect consumers, the community and the environment while encouraging fair trade and competition. An example of legal requirements a business owner must consider is taking into account privacy laws or making sure they have licences or permits matching their business. Ben and Jerry’s would have to abide by the occupational health and safety laws in order to prevent accidents by identifying hazards and removing them from there company. They will need to take into account things such as the health and safety of there customers, employees, visitors, contractors and suppliers. An example of a legal requirement Ben and Jerry’s must …show more content…
abide by would be employers maintaining and providing safe and sanitary work environments through frequent inspections and a grading scale. The company must meet specific standards in order to stay in business.
Societal Trend, belief or value
Includes external and internal customers values, beliefs and customer trends. It includes what people currently think about ways of working, how businesses should be operating and purchasing patterns.When planning Ben and Jerry’s they would have to take into account the buyers thoughts and decisions influenced by a range of different factors and processes. These include demographic factors, habit and price, health considerations, ethical concerns and wider societal trends. For example, Ben & Jerry’s works with more than 90 farms in Vermont (their home state) to source 100 percent of their dairy needs. They have established a program called Caring Dairy under which they work with the farms to meet guidelines for eleven global indicators, including: • Animal husbandry • Biodiversity • Energy • Farm economics • Impact on local economy • Nutrients • Pest management • Social human capital • Soil fertility and health • Soil loss • Water
Having caring dairy will make consumers like the business as they are having a positive impact on the community and the environment and therefore, customers will continue to choose Ben and Jerry’s ice-cream.
Technological Issues
Is the practical application of science used to achieve commercial or industrial objectives.
Technology is continually changing and the rate of change is rapid Ben and Jerry's would have to stay up to date with the other business and the new technology being used. Therefore, if they do not they will not stay competitive leading there business to go down hill and not have many consumers. In the process of developing the ice cream, Ben and Jerry's use what is called a mix master, which performs mix-making procedures at the Blend Tank. It is a 1000-gallon stainless steel mega-blender which makes large proportions of ice-cream in one go. Ben and Jerry’s have implemented this into their business in order to make more ice cream faster and better. This allows them to produce more ice cream and therefore sell bigger proportions and earn more
money.
Economic Conditions
This includes all things financial, meaning when planning, businesses must take into consideration interest rates, tax rates, business confidence and consumer confidence levels. Ben and Jerry’s must ensure that there consumers and potential buyers feel confident with buying there product. When consumers are faced by hard times such as increase in tax rates and interest rates it turns financially hard for consumers to spend less on luxury or non-essential goods. As a result of this Ben and Jerry’s must assure they are on the consumers side and have persuaded the buyers that their product is something they may want in their everyday life and they can do this by continuing to make sure they have a positive impact on society through Caring Dairy.
Corporate Social Responsibility:
Refers to a business having social objectives that benefit society in some way, as well as to making business decisions with the local or global community, or environment in mind. Ben and jerry’s has advocated for many decisions in which has a positive effect on the community and the environment. One of their main focuses is to get milk from recombinant bovine growth hormone (rBGH) free cows. rBGH is a genetically engineered hormone given to cows to increase their milk production. Ben and Jerry’s announced that rBGH “is a step in the wrong direction towards a chemically-intensive, high-tech food system that has unacceptable social and environmental costs”. Advantages of this is that dairy products made from milk that is free of recombinant bovine growth hormone are perceived to be safer to consumers, are more humane to cows used for milk production and are more environmentally friendly. Using rBGH cows puts humans at risk as it contributes to tumour development, specifically breast, prostate and colorectal cancers, so by Ben and Jerry’s not using the rBGH cows allows customers to feel safe and understand that the ice-cream is not putting them at risk of those consequences. However, rBGH free dairy tends to cost more meaning that Ben and Jerry’s may be spending more money on just the basic ingredients other then using their money to improve and advance on there product. In conclusion, Ben and Jerry’s work in an environmental friendly way as they contribute and operate in a positive way to the community and the environment. Ben and Jerry’s have shown to meet many of the social cooperate responsibilities and are seen as ‘good corporate citizens’.
Customer expectations or needs Includes the value that customers believe they will gain from purchasing a particular good or service. Its something customers require because it is essential or very important rather than just desirable. Businesses conduct market research and market analysis in order to establish the current customer wants and needs. By establishing the customer wants and needs can provide opportunities for the business and allow more people to want to come and buy from their business. Ben and Jerry’s focus on there customers needs and expectations widely and make sure the feed back they are getting from there customers is put into action. Ben and Jerry’s never argue with a customer as it is said the customer always comes first and are always right. For example, when developing Ben and Jerry’s the creators conducted Market research and found that customers are wanting to buy from businesses that operate in a ethical way. Therefore, Ben and Jerry’s took this into account and made shore they only used rBGH cows.
Action or decisions made by a competitor.
A competitor is a business rival in the same market for products or services offered by the business. It is important for businesses to to notice or identify whether a competitor has introduced a new product, changed its pricing strategies or discovered a new way of doing things. All businesses competing must be aware of all these aspects in order to insure they are up to date with the other businesses and assure customers choose them. In order for Ben and Jerry’s to be successful they need to watch what there rivals are doing on a daily basis to ensure they are either one step ahead of them or up to date. For example, Ben and Jerry’s gain a strong competitive advantage as they offer consumers something that rival competitors have not such as, innovative super-premium ice cream flavours that taste better and consist of all natural, high quality ingredients. By differentiating from the other competitors allows customers to want to buy from Ben and Jerry’s other then other businesses providing the same product.
Actions or decisions by a supplier
A supplier is any provider of inputs into a business’s operation and production process.