1 Activity 1. Marketing provides consumers with choice. Identify two methods used by business to do this. Marketing provides consumers with choice. This is identified by two methods in businesses‚ Product features (e.g. car with power steering) and pricing strategies (discounts). 2. Describe the importance of market share to a business operating in a highly competitive environment. The importance of market share to a business operating in a highly competitive environment is to show how much
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anything that relates to people in the business - for example‚ staff and managers. Physical resources are those that are physically used by the business - for example‚ land‚ raw materials‚ buildings or equipment. Technological resources are those that make use of technology - for example‚ computers‚ software or systems. Financial resources are any aspects of the business relating to money‚ such as money owed to or by the business. It is essential for any business to control‚ manage and make the best
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Sole-Proprietorship (ref: Unit 2 Types of Business). Mary Chia Holdings is owned and controlled by just one person although it may have many employees. It is the oldest and most common form of business ownership. Not only that‚ it is also the easiest form of business to start with limited funds whereby the owner‚ Mary Chia‚ registered her business under the Business Registration Act. But‚ there is no legal distinction between her personal property and the assets of the business. In case her business fails‚ her
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Unit 38: Unit code: QCF Level 3: Credit value: Business and the Economic Environment T/502/5500 BTEC National 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to introduce learners to the interaction between the general economic environment and business activity and how the interactions generate national wellbeing. Learners will study how government activities regulate and influence business activities and how business activities influence government action and policy
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Business Environment Introduction All businesses operate in a always changing‚ growing and in some ways unique environment. In order for a business to operate successfully in its environment‚ business need to adapt after the environment. It can mean that business have to respond to changing market conditions which affect the demend for the their products‚ how the competitors behave or the change in government policy. The business environment can be
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BUSINESS ENVIRONMENT SYLLABUS CHAPTER I Business environment- Dynamic factors of environment- Importance of scanning the environment-Fundamental issues-Economics environment of business - Sock) - cultural environment- Political/ Legal environment -Cultural environment. CHAPTER II Political economy - Government and business -.Public control‚ of business -Trends and structure of Indian economy - Socio - economic problems of India CHAPTER III Government controls and regulations -‚ Regulating
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Task 4.1: Discuss the significance of international trade to UK business organizations International trade is the exchange of capital‚ goods and services across international borders or territories (Wikipedia.org). It is vital to the economy of a country since it may benefit a significant share of gross domestic product (GDP). Without international trade‚ the UK organizations would be limited to sell its goods and services only within their own border. Therefore‚ International trade is vital
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Legal considerations The legal aspects are important for the business choice. Laws are different in every country. Laws would regulate business practice‚ define the manner and set down the rights and obligations. This made business have to run within the border set by law and definitely affects the efficiency and profitability when running business in that country. The type of legal system. The legal system in Spain and Korea is based on civil law‚ while court precedents are not granted official
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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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Introduction Business environment is the combination of internal and external factors that influence a company ’s operating situation. The business environment can include factors such as clients and suppliers‚ its competition and owners‚ improvements in technology‚ laws and government activities and market‚ social and economic trends. Environmental forces of political‚ economic‚ social‚ and technological factors. These factors are outside the control of the business. The business can’t do much
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