ECONOMICS AND BUSINESS ENVIRONMENT 1.1) Economic activity and economics (Pp. 14-16) Prosperity: The ready availability of goods and services to fulfil needs. Resources: Land‚ labour and capital. Scarcity: The excess of human needs over what can be produced. Economic activity: occurs when people (consumers‚ managers) make choices to maximise their prosperity using scarce resources. The Science of Economics: is concerned with the study of economic activity. This field is complex
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Johnson & Johnson: Successfully Strategizing for the Changing Global Business Environment I. Introduction Johnson & Johnson is the world’s largest healthcare company. Founded in the United States in 1886‚ the company has been profitable for 75 straight years and currently operates 250 subsidiary companies in 57 countries. Its products fall into three segments: pharmaceuticals‚ with 39% of total sales; medical devices and diagnostics‚ with 36%;
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characteristics of changing external environments • Environmental change is the rate at which a company’s general and specific environments change. If the environment is stable‚ this means that the rate of change is slow; if the environment is dynamic‚ this means that the rate of change is fast. • Environmental complexity is the number of external factors in the environment that affect organizations. Complex environments have many environmental factors; simple environments have few. • Resource Scarcity
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Starting your own business can be an immensely rewarding experience. The potential upsides are huge since‚ as a business owner‚ you will be in control of all aspects of your financial destiny that can make your life so much more fulfilling. But where do people find the motivation to get started? Where does the drive come from to make a business idea move from just a dream to a full blown reality? Most people would agree that you can’t get rich working for someone else. It just isn’t a common thing
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Organisations and Environment “Discuss how an organisation’s competitive advantage can be enhanced with the introduction of new technology” It is important to remember the difference between inventions and technology. Inventing something is the basis of the idea but the technology in it is ‘the application of knowledge to production’ (Wetherley‚ P 2008). This is because ‘Technology itself cannot do anything. It is how this technology is used that is important’ (Wetherley‚ P 2008) and how
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P. 1 2. Company Background P. 1 3. Macro-environment i. Political-Legal Environment P. 1 - 2 ii. Economic Environment P. 2 iii. Social Environment P. 2 iv. Ecological Environment P. 2 4. Difficulty i. Political-Legal Factor P. 2 - 3 ii. Economic Factor P. 3 iii. Social Environment P. 3 iv. Ecological Environment P. 3 5. Suggestion P. 3 - 4 6. Conclusion
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and values of your organisation relevant to your role Strategy Strategy development is the overall process of establishing where we are now and deciding where we want to be and how we are going to get there. I follow various strategies to manage deadlines‚ manage time and stress every day in my work life Policy Policy making involves taking a clear position on a function‚ service or issue to provide a framework or a set of principles that determine decisions‚ actions and approaches to those matters
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Manage Human Resource Services 1. Outline the difference between strategic plans and operational plans Strategic plans are the long term plans and goals of an organisation‚ whereas operational plans are shorter term; more about detailing the day to day operations of the organisation. Operational plans need to keep the strategic goals in mind so that the organisation will reach their longer term goals. HR requirements are necessary both in strategic and operational plans. Within operational plans
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Business environment characteristics Contents: In this report I will cover the 4 areas‚ which are Businesses environments; markets‚ sector & Industry changes‚ Economic trends‚ and legal framework Business Environment: The business environment is the world in which businesses operate. The business environment is constantly changing and businesses need to adapt or change their activities accordingly. They need to change and keep up with their customers’ demands‚ in order for their business to not
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The Business Environment: The Interrelationship Between Business and the External Environment A study of the Fast Food Industry 1. Adapt or Die 1.1 The consumer is king! An old adage I know‚ but it is truer today than it ever has been. Consumers are demanding more and businesses are having to respond or get left behind. The winds of change are certainly blowing through the empire of fast food
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