Wholesale CorporationEnvironmental factors consist of all the factors and activities which have a considerable impact on the running of the business. Environmental factors have a powerful impact on the normal functioning of the any business‚ especially in the marketing decisions (Pagell & Halperin‚ 2000). These factors pose challenges and threats to the success of any business. In order to deal with such environmental factors a firm should enhance its core competencies and make sound strategies (Staff
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Teva Pharmaceutical Industries‚ Ltd 1) External Environment: The Pharmaceutical Industry is dependent on political and legal conditions of general environment. In pharmaceutical industry we have two kind of medications which are generic or innovative. Innovative pharmaceutical industry success depends on the patent protection in the industry. For example‚ in United States innovative industry can have 10 to 12 years of patent protection life from the time that product is for sale in the
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The music industry has come a long way since those dreadful days of the mono recordings. Back then‚ artists‚ producers‚ and engineers didn’t have as much of a choice of what equipment that would use to get their recordings done. With the advancement in technology and new innovations constantly being created in the music industry‚ the opportunities are endless. If you look up the definition of technology you will see the words industry and commerce‚ which to me just means growth and development. Technology
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divided into two sections that are External environment and Internal environment. And the external environment also divided into two parts‚ which are Macro environment and Micro environment. But in this section‚ I just discuss about Macro environment. The elements of macro environment can affect business decision-making in the long term and unstoppable. Macro environment contains of four elements‚ such as Politic and legislation‚ Economy‚ Socio-cultural and Technology. 2.1 POLITICAL AND LEGISLATION
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Meaning and Definition: According to Professor J.M Culbertson‚ “macroeconomic theory is a theory of income‚ employment‚ prices and money”. According to P.A. Samuelson‚ “macroeconomics is a study of the behavior of the economy as a whole. It examines the overall level of a nations output‚ employment‚ prices and foreign trade”. Nature‚ Scope and importance of Macroeconomics As a method of economic analysis macroeconomics is of much theoretical and practical importance. 1. To understand the
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Country Risk Assessment through Macro level factors: Foreign business operations and investments are affected by societal actions and policies‚ as well as‚ governmental regulations and restrictions; macro level factors act external to the company and are quite uncontrollable Youtoi must be conscious that these factors do not affect the marketing ability of the concern directly but indirectly the influence marketing decisions of the company. These are the macro level factors that should be obtained before
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Questions for Review 1. Pharmaceutical companies do have a responsibility to distribute drugs for a low cost in developing and poorer countries. Africa’s GDP‚ and per capita income is very low so they cannot afford to buy top quality medicines. One main argument for this approach is the AIDS epidemic in Africa. A main argument against this is that the treatment for AIDS is very expensive to provide to a whole country for free. 2. The principal arguments of pharmaceutical companies that oppose making
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external and internal environmental factors nowadays. The Fourth Industrial Revolution is a potential source of innovation today‚ because it implements a number of technical innovations‚ which can not only affect our everyday lives‚ transportation and environment‚ but it can also change manufacturing processes‚ educational systems and market structures. The changing attitude and the new generation being brought up by the technology acquis are also potential sources of innovation. The macro environment defining
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of factors/elements: • Organizational elements • Environmental elements • Behavioral elements Organizational elements Workflow: The flow of work must not have any jerk. Means the workflow must be smooth. e.g. if a person’s job is to pick up a socket & puts it in‚ its jerkless. But if the same person is compelled to pick up‚ clean and then put it inside‚ the cleaning process will create a jerk. Work practice: Work practices are the set methods of performing work. This can affect the
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There are 7 factors that affect the development of a child: growth‚ diet‚ love and affection‚ sleep‚ stimulation‚ environment and medical conditions and illness. I will discuss six of them below: - GROWTH - a major factor affecting a child’s physical (eg. growth of bones and muscles) and mental (eg. growth of the brain) development. It is responsible for many things which are usually taken for granted. There are many illnesses and disorders that can negatively affect growth and prevent children
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