LECTURE 3 Business Environment LEARNING OUTCOME OF LECTURE 3 & 4: * Investigate the economic‚ social and global environment in which organisations operate CONTENTS (Lecture 3): Resource issues and types of economic system: basic economic problem‚ effective use of Resources; type of economic systems — command‚ free enterprise‚ mixed‚ including transitional economies‚ public and private sector initiatives; private finance initiatives. Business Environment : We can divide the types
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Business can be simply defined as “the purchase and selling of goods in an attempt to make profit.” A business is also a profession‚ occupation or trade of goods. Any business may deal with the manufacturing‚ promotion and sales of any objects or services. Both production and distribution activities are the responsibility of any business and these factors make it complex. In today’s globalized environment‚ there are various factors that make a business more complex than what existed a few years
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* Children’s Hospital and Clinics HBR Case 9-302-050‚ Does Children’s Hospital offer a safe environment for patients? Children’s Hospital and Clinics‚ established in 1994 is a 270 bed hospital providing medical services in 6 facilities Provides medical services in 6 facilities throughout the Minneapolis-St. Paul metropolitan area. Starting from May‚ 1999 since Julie Morath joined Children’s Hospital‚ the hospital had implemented multiple safety initiatives. Under leadership of Julie Morath‚ the
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and external environment of business and in each case explain five components of the environment. The term business‚ in economic sense means human activities which are performed with the objectives of earning profits. Human activity for earning profit may be in the form of production‚ extraction or purchase of goods for sale. It is expected of business to provide goods and services to the society in an effective manner. Thus‚ in today’s competitive environment‚ survival of business unit is not
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For my first research I chose a company that positions itself as a service. The company‚ called LOOKSLR‚ suggests customers to buy and sell clothes. Let’s run through the interview below. — Hello‚ Kairzhan. Tell us please‚ how did you come up with the idea of personal sales service? What has inspired you? — One day I noticed that my wife is trying to sell the blouse she bought via internet. She was chatting with her friend‚ offering her to buy this blouse. In her offer she described the clothing
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Occupational Health and Safety responsibilities All hospitality establishments need to be safe and healthy environments‚ whether they are food and beverage restaurants‚ commercial kitchens‚ clubs‚ hotels and accommodation‚ tourist enterprises or cafes. Employers and employees all have a shared responsibility to promote a safe secure and healthy workenvironment that minimises risk of harm to any person. This responsibility is called duty of care. Employer responsibilities Employers have the prime
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“Business ethics examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole” (“Business Ethics‚” 2010). In today’s society‚ many people pursue careers in businesses for different reasons such as convenience‚ salary‚ and many other reasons that do not include ethics. Unfortunately‚ people’s professional values are no longer mirroring
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Legal Environment of Business in Bangladesh Legal Environment of Business in Bangladesh 1 Legal Environment of Business in Bangladesh A Report On “Legal Environment of Business in Bangladesh” Course Title Legal Environment of Business Course Code LAW-234 Submitted to Abeer Khandker Lecturer Faculty of Business Administration ASA University Bangladesh Submitted by Name ID Hosnain Ahmed 092-12-0002 Riyadh Ahmed 092-12-0003 Mahmudul Hassan 092-12-0006 Tasmia Kamal 092-12-0017 Nafisa
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Different approach of International Business In truth‚ we have become part of a global village and have a global economy where no organization is insulted from the effects foreign markets and competition. Indeed‚ more and more firm are reshaping themselves for international competition and discovering new ways to exploit markets in every corner of the world. Failure to take a global perspective in one of the biggest mistakes managers can make. Thus we start laying the foundation for our discussion
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POLITICS ON BUSINESS ENVIRONMENT AND ITS RESULTS ON SOCIETY The political environment in a country affects business organizations and could introduce a risk factor that could cause them to suffer a loss. The political environment could change as a result of the actions and policies of governments at all levels‚ from the local level to the federal level. Businesses need to be prepared to deal with the fallouts of government politics. Impact on the Economy The political environment in a country
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