SOCIAL FACTORS – BUSINESS ENVIRONMENT Introduction: The main factor that affects most business is the degree of competition – how fiercely other businesses compete with the products that another business makes. The other factors that can affect the business are: Social – how consumers‚ households and communities behave and their beliefs. Legal – the way in which legislation in society affects the business. Economic – how the economy affects a business in terms of taxation‚ government spending
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Global factors affecting business The way of running the business differs from country to country. The marketing‚ sales and technical skills are required to increase the productivity of business. Business in general is enhanced when people from different cultures find new approaches to old problems‚ creating solutions by combining cultural perspectives and learning to see issues from the viewpoint of others. Business Environment consists of factors influential to the business operations. These
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essay discusses the concepts of small business and entrepreneurship and relationship between them. We will try to define and explain the terms ?owner-manager? and entrepreneur‚ in other words who operate a small business enterprises. We also will examine the similarities and differences of these terms. From the outset it needs to be emphasized that while we will talk about the small business and entrepreneurship‚ these terms need to be defined. For small business there is still no single definition
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in an oligopoly is economies of scale. Economies of scale generally refer to the cost advantages that will be associated with large organizations. Margaretta (2012‚26) suggests that companies pursue economies of scale in the belief that this will be decisive in determining a competitive advantage and increased profitability. Woolworths enjoys significant economies of scale in relation to its competitors. In the supermarket industry‚ benefits of economies of scale is usually achieved by buying products
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Account for the growth of TNCs and evaluate their impacts at the global and national scales (40 marks) A TNC (transnational corporation) is a company that operates in no less than two countries and has a global outlook. TNCs have a long history going back to the 16th Century in terms of trade such as spices‚ but it’s not until C. 1945 that companies started to form acquisitions and mergers. The one key reason why these businesses have been so successful in their area of expertise globally is because
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Demand side factors 1.Monetary policy The central bank tries to maintain price stability through controlling the level of money supply. Thus‚ monetary policy plays a stabilizing role in influencing economic growth through a number of channels. The contribution that monetary policy makes to sustainable growth is the maintenance of price stability. Since sustained increase in price levels is adjudged substantially to be a monetary phenomenon‚ monetary policy uses its tools to effectively check
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ECONOMIES OF SCALE Economies of scale are basically the increase in efficiency of production as the number of goods being produced in a firm increases. Typically‚ a firm that achieves economies of scale lowers the average cost per unit through increased production since fixed costs are shared over an increased number of goods. Fixed costs are those costs of production that do not change when output changes. There are two types of Economies of Scale: Internal economies External economies Internal
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Afghanistan Kapisa province Environmental issues in Afghanistan predate the political turmoil of the past few decades. Forests and wetlands have been depleted by centuries of grazing and farming‚ practices which have only increased with modern population growth. In Afghanistan‚ environmental conservation and economic concerns are not at odds; with 80% of the population dependent on herding or farming‚ the welfare of the environment is critical to the economic welfare of the people.[1] In 2007‚ the World
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Small Business Institute® National Conference Proceedings Vol. 34‚ No.1 - Winter 2010 292 DOES SIZE MATTER? ETHICS APPLIED TO SMALL BUSINESSES COMPARED TO LARGE BUSINESSES Kevin Cooksey & Dolores Kuchina-Musina‚ Christopher Newport University Abstract Considering the normative statement that both large and small businesses should follow the same ethical and moral standards‚ this paper analyzes the perceptions of individuals based on the relative ethical behavior of small business as compared
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different factors that marketers study in order to satisfy customer’s needs. This research made on consumer behavior is important for companies in order to successfully establish their marketing plan‚ to sell their products or services and also to establish a good relationship with customers. In this paper work the three factors that were chosen to describe the impact on consumer behavior and on marketer’s decisions are family‚ age and ethnicity. Before explaining the impact that the three factors have
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