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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Why are families changing‚ and what are the differences between macro and micro- level influence‚ and what influences do the portray on the family? While we are all aware that families are changes compared to many years ago such in their choices to marry or to divorce; most of these changes are due to economic issues and having to care for the parents or loved ones. To better understand these choices‚ many people look at the macro and micro-levels that influence their decisions‚ where social interactions
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The term "macro" denotes "large"; thus macrosociology refers to the study of large-scale social phenomena. This covers a very broad range of topics that includes groups and collectivities of varying sizes‚ the major organizations and institutions of one or more societies‚ cross-sectional or historical studies of a single society‚ and both comparative and historical analyses of multiple societies. At the grandest level it may cover all human society and history. Sociologists distinguish macrosociology
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SECTION C The business environment 273 03-BusinessforCSEC-SectionC-cpp.indd 273 09/02/2011 11:46 Chapter 8 THE ROLE OF GOVERNMENT IN AN ECONOMY omy In this chapter we discuss responsibilities of government‚ including environmental protection‚ zoning and conservation‚ and external (international) boundaries. We also look at laws to protect consumers‚ consumer organizations and standards. We consider the ways in which governments interact with business activity in the private and
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Demographic environment The phrase demographic environment is composed of two words‚ demographic which in turn comes from demography and environment. Demography is the study of the human population living in an area‚ their age‚ jobs‚ income‚ spending habits‚ ethnicity‚ and gender and so on. In terms of marketing and business‚ this study of human population actually leads to an identification of the potential customers. Businesses employ quite a few methods to identify potential customers for their
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Overall‚ three macro factors that influence teenagers to associate themselves with gangs are the community‚ education and poverty. Using the social disorganization we can see how these causes actually aid in criminal behaviour. The four aspects that were particularly looked at from social disorganization theory were; low income status‚ which can be associated with poverty and the community‚ and if people tend to grow up in a neighbourhood with low income status or have low income families‚ they are
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Micro: Floor: govt imposed limit or minimum price that can be charged for a good or service Price floor holds no weight unless the price equilibrium falls below it Production possibilities and Trade offs a. PPC defined b. Economic model that provides the opportunity cost c. PPC examples d. Resources are not equally suited to both items Comparative advantagecondition in which a nation state is capable of producing some product at a lower opportunity cost
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MARKETING ENVIRONMENT Introduction: A variety of environmental forces influence a company’s marketing system. Some of them are controllable while some others are uncontrollable. It is the responsibility of the marketing manager to change the company’s policies along with the changing environment. According to Philip Kotler‚ “A company’s marketing environment consists of the internal factors & forces‚ which affect the company’s ability to develop & maintain successful transactions
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marketing management. Without proper control of finance‚ desired marketing scheme could not be implemented; without standard quality of product‚ end-user would not trust the message conveyed through advertisements; without satisfactory working environment‚ marketing staffs would not deliver and implement satisfactory marketing proposals. All departments are aiming to be able to deliver better services or product internally and externally of the organisation in meeting customers’ changing demands
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How are the Macro as well Micro economic factors different in the country or origin and the destination country? Macro-economic factors of China: 1. Political factors: Currently China has become the world’s second largest economy. Xi Jinping focuses on pushing China investment abroad and pulling foreign investment
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