Question 1.1 The six components or variables of the macro environment: Technological environment‚ which continuously brings change and innovation to the business world. Factors that may affect Johnson Matthey are because he operates in an industry that is driven by advancements in technology in order for him to remain competitive his company would need highly skilled workforce and new and more efficient ways of meeting challenges faced by this industry. To be at the forefront of technological
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Globalization Unit 1.9 Focus Question 1. What is globalization? 2. What are the causes and impacts of globalization? 3. What are some indicators of globalization? In business‚ the competition will bite you if you keep running. If you stand still‚ they will swallow you. William Knudsen (1879-1948)‚ former president of GM. Overview what is globalization? * What is globalization? * The integration of the world’s economies in relation to their economics‚ sociology
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personal rewards while also contributing to the welfare of society. 2. The term entrepreneur is understood in this text to refer only to founders of small businesses. 3. An owner-manager is a person who founds a new business. 4. According to the definition of entrepreneur given in Chapter 1‚ owner-managers who buy out founders of existing firms may be classified as entrepreneurs. 5. A mechanic who starts an independent garage can best
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Case #1. Zipcar: Refining The Business Model The objectives of this case: The Zipcar case was developed to permit students to closely track the development and evolution of a company’s business model in the very early stages of its life. The case describes the development of Zipcar‚ a car-sharing service located in Boston‚ but with national ambitions. The case includes the very first version of a financial model for the business‚ a version that was developed after significantly more research
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Running Head: BUSINESS ESSAY Business Essay [Name of the writer] [Name of the institution] Business Essay Summary Many companies‚ especially SMEs‚ have a management that leaves much to say in its management‚ neglecting many aspects that cannot be ignored again before the commitment to ensuring a productive performance‚ which may lead to the expected results obtained and properly established in its objectives and mission. When you venture into them is detected organizational
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be: Advertising‚ Publicity‚ Public relations‚ Sales promotions‚ Direct Marketing‚ Personal selling‚ Sponsorship‚ Product placement‚ Celebrity Endorsement and Exhibitions. If a business takes into consideration the AIDA principles alongside the promotional mix then they could be looking at a potentially very successful business idea. I’m going to explain how Beats by Dr.Dre and HTC use both AIDA and the promotional mix to sell their products. Beats by Dr.Dre The beats by Dr. Dre headphones are
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Skor Foods Private Limited is basically a franchise based business under the brand name HOT n’ JUICY. HOT n’ JUICY is a business based on a very simple concept of selling naturally healthy snacks such as Steamed American Corn‚ Lemonade‚ and Waffles & Dim sums at Mall‚ Theatre and Markets. HOT & JUICY has also been chosen by PVR Cinemas as their partners in serving their clients with its products. The company has also tied up with Fun Cinemas and is present within their cinema theatres. The
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Define the term ”tertiary sector”: o Business activity firms that provide services to consumers and other businesses‚ such as retailing‚ transport‚ insurance‚ banking‚ hotels‚ tourism and telecommunications. 2 – Define the term “partnership”: o A business formed by two or more people to carry on a business together‚ with shared capital investment and‚ usually‚ shared responsibilities. 3 – Examine two arguments in favor of setting up the proposed UniFuture business: o Suyin has experience as a financial
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Unit five: Principles of supporting business events Assessment You should use this file to complete your Assessment. • The first thing you need to do is save a copy of this document‚ either onto your computer or a disk • Then work through your Assessment‚ remembering to save your work regularly • When you’ve finished‚ print out a copy to keep for reference • Then‚ go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly
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Distinguish between efficiency and effectiveness in management. (5 marks) Efficiency refers to being productive at work‚ to use resources – time‚ equipment‚ people‚ money‚ raw materials‚ etc.-wisely & cost-effectively. An efficient manager will strive to maximize productivity at work. Efficiency can be calculated by the formula: output/input. Effectiveness refers to making the right decisions & to successfully carry them out so that they achieve organizational goals. A manager can
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