BUSINESS ENVIRONMENT | |After discussing the meaning of business environment‚ now we will discuss the various components of business environment. The various components of business environment are- [pic]External environment consists of those factors that affect a business enterprise from outside. External environment includes shareholders‚ competitors‚ customers‚ society‚ government laws and regulations‚ policies and technology. External environment is generally classified into micro environment and
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(1)What is a Business Environment? Answer A Business Environment is the physical and operational factors‚ both internal and external‚ that affect the flow of activities in a business. They include; customers‚ competitors‚ suppliers‚ distributors‚ industry trends‚ substitutes‚ regulations‚ government activities‚ the economy‚ demographics‚ social and cultural factors‚ innovations and technological developments. (2)What Are the Types of External Business Environments? Answer There are many types
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Business Environment Lecture 1 Business & its Environment What is Business? Business is a way of dealing with the problem of scarcity Business involves the transformation of inputs into outputs to meet particular needs or wants of consumers Business is not just The Private Sector it is also The Public Sector and Societies have to choose the balance between the public and private sectors The Private Sector (Pg 7-11) Consists of all business in some form of private ownership COMPETITON
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The marketing environment of a firm consists of 2 different parts‚ the micro-environment‚ and the macro-environment. The micro environment of a firm is all the actors within a firm which affects its ability to sell final products to its customers. The macro environment‚ are all actor which are potentially harmful‚ and pose a threat towards the firm. The micro environment is affect by 6 actors‚ which are the firm‚ suppliers‚ market intermediaries‚ customers‚ competitors‚ and the public. Within
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Running Head: BROAD ENVIRONMENT Knowing the Unknown about the Broad Environment University of Tampa MGT 431 Practical Strategic Assessment Dr. George Bud Wynn June 09‚ 2009 Abstract In “Foundations in Strategic Management”‚ pages 21 to 27‚ author Harrison discusses the influence that the external environment has on a particular company’s operations and how its managers can adapt to environmental uncertainties to sustain their competitive advantages. Harrison also points out why it is
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There has been a gradual change in the mode of packaging for last years.For instance‚ earlier fruits and vegetables were used to be transported in wooden boxes but today cardboard crates are used .This is mainly to reduce the cost. Obviously‚a cardboard crate would cost less than wooden crate. Moreover‚using cardboard crates is more eco friendly than cutting trees and making wooden boxes and supporting an environmental cause helps firms improve their goodwill and eventually their sales. Similarly
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Market Forces April 2008 Vol. 4 No. MARKETING MIX & BRAND RESEARCH MARKETING MIX AND THE BRAND REPUTATION OF NOKIA SYED EHTESHAM ALI College of Management Sciences PAF-Karachi Institute of Economics and Technology E-mail: s_ehtesham_ali@hotmail.com Abstract Pakistan’s mobile phone market is growing very fast. The most selling brand in the market is Nokia. A hypothesis was developed that the reputation of a brand is a source of demand and the competitively superior quality image justifies
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Macro environment Our product and all of the other actors operate in a large macro environment of forces that shape opportunities and pose threats to the company is known as macro environment. Six largely uncountable external forces influence our product’s marketing activities. And also it influences decision making‚ and affect its performance and strategies. These factors include the economic‚ demographics‚ legal‚ political‚ and social conditions‚ technological changes‚ and natural forces Elements
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example of this would be construction jobs are seen as male employment where child care worker are seen for females. This lead to a hidden discrimination based on sex that the majority of society is aware about but feels it is all right. From a social perspective‚ the male has always been the person who went to work and provided for the family but due to the economic changes and the opportunities woman now have the female hold employment that equal or succeed the male income earnings. Female’s
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* Business Environment Understanding the environment within which the business has to operate is very important for running a business unit successfully at any place. The environmental factors influence almost every aspect of business such as‚ its nature‚ its location‚ prices of products‚ the distribution system‚ or the personnel policies. It is important to learn about the various components of the business environment‚ which consists of the economic aspect‚ the socio-cultural aspects‚ the political
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