Business Environment Business environment refers to the conditions prevailing in a society in which a business is to be operated. It is defined as the total of all things external to business firms and industries‚ which effect their organization and operation. The number and scope of environmental factors‚ which effect business‚ is broad. There should be included all aspects of our social‚ scientific‚ economic‚ political and cultural life which have some bearing upon business. Relationship
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standards of right and wrong. -Why are employees and the public cynical about the ethics of business and its leaders? How does cynicism affect your thinking as an employee‚ manager‚ or business student? They are cynical about it because they believe that not everyone is representing their true motives. Cynicism can affect the overall functionality of a company. People that are cynics about business ethics tend to not trust management or they don’t believe that management actually pays attention
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Throughout the years continuing positive advances of the Internet have impacted American culture and lifestyles drastically. From advances in the medical field‚ the way we communicate and how education has changed over the years. There are many advantages and disadvantages having the Internet so prominent in our lives. For most of us the Internet plays a very important role in our lives. The growth of the Internet has helped the medical field advance enormously. Without the needed technology a lot
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MODULE: BUSINESS ENVIRONMENT LEARNING OUTCOME ONE | ASSESSMENT CRITERIA | Understand theorganisational purposes ofbusinesses | 1.1 identify the purposes of different types of organisation1.2 describe the extent to which an organisation meets the objectives of different stakeholders1.3 explain the responsibilities of an organisation and strategies employed to meet them | What is a business? It is a system whose performance is influenced by a whole range of phenomena in its environment
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Assessment 1: Individual Assignment Question 1 (a) Consideration is one of the four main elements to be present in order to have a legally binding contract. Consideration can be anything of value (such as an item) which each party must agree to exchange for the contract to be valid. For consideration to be sufficient‚ both parties have to have an agreement. If only one party agrees to it‚ then the agreement is not consider a legally binding contract. Something must be given or promise in exchange
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Introduction to Skills A successful manager possesses a lot of skills. The skills have opened a pathway for him to the way of success. Is it important for a manager to possess a certain skills? Is it important for a manager to learn those skills? The answer is yes. A manager needs those skills to ensure they can work with more effectively and efficiently. There are four main general skills that a manager needs to equip with. An effective manager must be proficient in these four main general skills
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Unethical Business Ethics is defined as beliefs about what is right and wrong or good and bad in actions that affect others.( Therefore‚ unethical behaviour is behaviour that is believed to be bad or wrong actions or decisions. Other definition about ethics is ‘the activity of examining the moral standards of a society‚ and asking how these standards apply to one’s life and whether these standards are reasonable’ (Velasquez‚ 1998; pg 11). Ethics are based on personal or social beliefs
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Business law LAW OF CARRIAGE:- Defination of law of carriage: Law of carriage means carrying goods from one place to another against the price. It is the branch of business. Carriage is the basis for the management and operation of business successfully and effectively. It is the factor of business activity that helps to mobilize the labor‚ raw material‚ and tools and machinery etc. Modern business activity are based on the exchange of goods and transportation of goods from one place to another
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(Operating) working capital: movement of cash into inventory Investment: flow from cash into new fixed assets Depreciation: the loss in value of fixed assets ⇒ increase in value of merchandise made + needed for growth Solvency: ability to have cash to buy fixed assets and inventory (outflow cash) Financial statements: Balance sheet The balance sheet Equity= assets - liabilities current assets current liabilities cash ! inventories ! acc receivable ! equipment
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Policy - is a predetermined course of action which is established to provide a guide toward accepted business strategies and objectives. Policies identify the key activities and provide a general strategy to decision-makers on how to handle issues as they arise. This is accomplished by providing the reader with limits and a choice of alternatives that can be used to "guide" their decision making process as they attempt to overcome problems. Characteristics of a Policy 1. Are general in nature
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