Business Environment Meaning: The success of every business depends on adapting itself to the environment Within which it functions. For example‚ when there is a change in the government polices‚ the business has to make the necessary changes to adapt itself to the new policies. Similarly‚ a change in the technology may render the existing products obsolete‚ as we have seen that the introduction of computer has replaced the typewriters; the colour television has made the black and white television
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Nike has experienced many political and legal issues throughout its lifetime. From claims the company has used and continues to use sweatshops‚ to ties with terrorism‚ Nike has had a lot to overcome. These issues Nike has faced has shaped their current marketing strategies and led them to become one of the most recognizable brands in the world. The largest political issue Nike has faced was with regards to the sweatshop and child labor scandal. Nike began manufacturing in South Korea and Taiwan
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monitor the environment is known as environmental scanning. It allows marketers to understand the current state of the environment‚ so that the organization can predict trends. The Macro Environment There are a number of common approaches for how the external factors‚ which describe the macro environment‚ can be identified and examined. These factors indirectly affect the organization but cannot be controlled by it. One approach is the PEST analysis. The PEST analysis is a political‚ economic
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by the internal and external environmental factors. Identify these external factor and explain in detail primarily how the external factor have or would influence your organization in its strategic planning . Elaborate your answer with example. Organizational activities and future plans are constantly affected by the internal and external environmental factors. For success in the present world‚ one need to consider not only the internal environment of the company consisting of its resources
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NewCorp Legal Scenarios Introduction Legal Encounter 1 An organization has the right to fire an employee at-will. If the employee is not performing or is not providing a benefit to the organization‚ the organization may decide to terminate the employee. However‚ if documentation is provided at the time of hire stating the employee is not an at-will employee or the employee will receive a notice before termination occurs‚ then it can become a legal matter. In legal case 1‚ Pat is hired
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Course Title: The Legal Environment of Business Course #: BLAW 2080 017 (3 credits) Day/Time: M-W-F 2:30 p.m. – 3:25 p.m. Room: West Wood 169 Instructor: Carol L. Risk‚ Esq. (riskcl@ucmail.uc.edu) ph. 859-905-9336 – law office Course Description: This course examines the legal environment in which business operates‚ and develops an understanding of the legal consequences attached to business decision making. The course will introduce students to various legal subjects including property
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always coincide. Plato expressed that equity is a necessary element supplementary to the imperfect generalization of legal rules.[2] Seven Hundred years old clarion call of Magna Carta –“To no one will we sell‚ to no one will we refuse or delay the right to justice” very pertinently embodies the principle of legal aid. However‚ it was only when the colonial hangover of the Indian legal system was pointed by the committee for illegal aid and was stated that the shadow of the law created by the British
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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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give-and-take of a negotiated settlement and a contract specifies the minimum acceptable standard of performance. b) Intention to create legal relationship: - One of the essential elements in the creation of a binding contract‚ this intention is implied by the fact that it is not expressly denied. Intention to bind the other party with the involved legal obligations. c) Free and genuine contract:-Two parties must give their Free and genuine contract to the term of agreement. Such
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External Business Environments The external environment of a business converts inputs into outputs in order to make profits. However‚ the business does not exist in an empty space‚ but rather in an external environment consisting of varying factors outside the business. Factors that affect the external environment of a business include the economic system‚ the social system‚ the political system‚ the technological system‚ and the ecological system. The economic system deals with the organization
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