Introduction Business environment is an element that will affect all the activities of an organization. Besides‚ it will bring firms both opportunities and threats because of its uncertainties. Business environment is uncertain‚ complex & dynamics; organization should apply more flexibility & discontinuity ways to manage them. A firm cannot control the environment because it is unpredictable in its direction and speed of change‚ such as interest rates‚ rate of inflation and exchange rate. Business
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The External Environment All outside factors that may affect an organization make up the external environment. The external environment is divided into two parts: ● ● Directly interactive: This environment has an immediate and firsthand impact upon the organization. A new competitor entering the market is an example. Indirectly interactive: This environment has a secondary and more distant effect upon the organization. New legislation taking effect may have a great impact. For example‚ complying
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the employees. All around the world we can find various organizations that work in business group having a fixed and well defined set of rules and regulations to ensure teamwork and maintain team spirit in the organization. Looking at the size and vastness of projects in an organization‚ necessary work has to be broken down into different departments‚ even departments are not sufficient enough to handle the burden of work. Thus in departments there arises the need to make different teams of individual
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Macro environments relates to the larger forces that have an impact on society as a whole and not just on one or a few organizations. A single organization cannot usually have a significant impact on these forces and therefore can only adapt its marketing mix to account for the opportunities and threats that arise. The company’s macro-environment consists of six major forces that impact on organizations. The six major forces are demographic trends‚ economic trends‚ natural trends‚ technological
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The Macro-environment The macro-environment includes concepts such as demography‚ economy‚ natural forces‚ technology‚ politics‚ and culture. Demography refers to studying human populations in terms of size‚ density‚ location‚ age‚ gender‚ race‚ and occupation. This helps to divide the population into market segments which can be beneficial to a marketer in deciding how to tailor their marketing plan to attract that demographic. The economic environment refers to the purchasing power of
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computer system designed to provide data and information used in HR planning and decision making. 5. Contingent workers are people who work for an organization‚ but not on a permanent or full-time basis. 6. Telecommuting means using computers and telephones at the office. 7. The first three steps involved in attracting an effective work force are HR planning‚ choosing recruiting sources‚ and selecting the candidate. 8. With the matching model‚ human resource specialists
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Lesson 1 BUSINESS AND ITS ENVIRONMENT NATURE OF BUSINESS Business may be understood as the organized efforts of enterprise to supply consumers with goods and services for a profit. Businesses vary in size‚ as measured by the number of employees or by sales volume. But‚ all businesses share the same purpose: to earn profits. The purpose of business goes beyond earning profit. There are: • It is an important institution in society. • Be it for the supply of goods and services • Creation of
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The implications on the environment due to 3D printing can have a very positive effect. Some of the areas that 3D printing can positively affect the environment are; transportation costs‚ lack of unsold products‚ less wasted materials‚ extending the lifetime of a product‚ and recycling is easier due to 3D printing products coming from one raw material also making it cost effective. 3D printing overall will have a positive effect both in its industry and beyond‚ but like with many forms of new phase
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The Marketing Environment Environmental Variables There are two categories of variables in the marketing environment that shall shape all aspects of a company’s strategic plans: 1. Macro environmental category includes: demographic; economic; social-cultural; competitive; political-legal; and technology variables. 2. Microenvironmental category includes: the company itself; customer served by the company; suppliers; distributors; market intermediaries that assist in making and marketing
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Macro environment is the external and uncontrollable factors that influence a company’s or product’s development. Billabong must know the value of each of the macro environment factors; such as‚ economic‚ demographics ‚ and lifestyle‚ technology and natural forces. Before companies‚ or in our case Billabong‚ produce a new products‚ they should study each macro environment force carefully. Each force have its effects on the market. Economic forces affect the consumer buying power and spending
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