...As one approaches the final steps of this whole new world of business and marketing, what is known as organization comes into play. Within organization come the categories of basic level environment, social environment and economic environment. In this report one will describe the categories, along with management structure and issues that one may encounter when dealing with operational as well as financial situations. Being that technology is an always changing implement, one will identify the impact of potential change factors in the role technology plays along with any other factors that may have an impact. There are three aspects that build up an organization, basic legal environment, social environment and economic environment. Country, state and international laws are what govern the basic legal environment of an organization. This is where prohibited items of production and sales can be found. Also included are employee protection laws that protect individuals from being discriminated based on race, sex, religion or age. Financial laws and included laws that deal with taxes and ethics of a business all fall under the basic legal environment. Consumers are also protected, ensuring satisfaction by making sure items are weighing in at the price they are being sold at or making sure that product descriptions are not misleading. Social environment of an organization is where all that impacts a business is covered. Since society is where businesses operate, factors...
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...TYPES OF ENVIRONMENTS In the business world there are many resources that all organizations provide and receive from other organizations. To keep up with the technology they consume and sell the community and all over the world. The basic legal environment can be tough to follow by the regulations of the book. The social environment can be a hassle to provide the best and cheap products. The economic environment needs to provide better and interesting products to the environment. Let’s talk about the legal, social, and economic environments about management structure, operational issues, financial issues, and the impact of potential change factors including the role of technology. The basic legal environment in an organization has to reflect on the management structure. To make sure that the manager is following by the legal rights towards the customers, and make sure that the employees are making sure that customers are always right to keep the customers coming back for different products. The manager has to be able to read each employee and be able to train new employees in a professional manner; so that the operation is going smoothly and correctly. The organization has to meet the requirements to establish financial help, but if the goods are selling and the profit is good then they shouldn’t need any financial help. As the technology changes; the organization has to keep up with the changes. If the company can’t make immediate change on the technology...
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...Unit 5 Elements in Business Jean Juisto AIU Online Abstract The basic concepts of management and some problems faced in operating a business enterprise. Here are basic concepts in management and some factors that must be addressed whenever problems arise. Basic legal environment include relevant laws and regulations that relate to a business. These laws are governed by state, country, and international authorities. A few basic legal principles to everyday business issues include the minimum wage, and child labor laws. Equal opportunity is a big issue along with overtime. Social environment refers to the cultural environment developed by mankind. Social environments are the immediate physical and social settings in which we live and work. Issues involving social environments are living and working conditions, income levels and educational backgrounds. Economic environment is how the environment can impact the economy. External factors that could affect the economic environment include inflation, interest rates and unemployment. Inflation had a negative effect on the economic environment due to consumer spending. Global warming and ozone layer also affect the economic environment. The management structure for my small business is quite easy to explain. I am the owner of this business; there are no other employees so I am the boss. I make all decisions with...
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...Assignment Brief | Title of Qualification:Edexcel BTEC Level 4 HNC in Business | Unit title: Unit 1 Business Environment | Unit code(s): Y/601/0546 | Learner:Nuraiym Azygalieva | Assessor:Dinara Bobusheva | Internal Verifier:Talant Asan uulu | Title of Assignment:Organizational purposes of Business and effective strategy in context of Business start-up.Grading criteria: P1.1, P1.2, P1.3; M1; D1.Related learning outcomes:LO1: Understand the organizational purposes of businesses. | Assignment Number:__1__of __3__for this Unit | Date assigned:November 1, 2013 | Date of review:November 8, 2013 | Date for final submission:November 15, 2013 | Learner declaration:I confirm that this assignment is my own work and any assistance received has been acknowledged and all sources have been stated.Signature: Date: November 15, 2013 | Scenario:In order to facilitate the interactive teaching technique due to accepting the basic findings of Interactive Business Situations Analysis conducted during the seminars and independent students’ study, the following two alternative scenario have been proposed for designing the required Assignment # 1 as follows:Scenario # 1:Primary terms of Business start-up to be organized as “Skull-Up” company are determined as Business partnership with full liabilities legal form. Business specialization of considering enterprise is Restaurant service providing...
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...Breaking down My Business Deizjane Watson American Intercontinental University Abstract In this paper the author will describe the organization. He will describe the basic legal, social and economic environments of the organization. The author will describe the management structure. Also, he will describe the operational and financial issues. Finally the author, will identify the impact of the potential change factors including the role of technology. Breaking down My Business I have chosen to write about my clothing boutique “Placar”. Placar is a boutique that sells unique business clothing. The store is designed to catch the eye of the fashionable business individuals. It is a smaller, unique New York and Company. The basic legal environment is a sole proprietorship business. There is one owner who accepts all profits and loss of the company. The business and owner’s personal tax return are one and the same. If the owner decides to sell there are no meetings held because the owner makes all of the business decisions. The owner is consider the business. It is a neighborhood business staying trendy is the most valuable method for the business to remain ahead of the game in the social environment. Staying aware of all the national, state, and city laws and policies of buying and selling merchandise is what it takes to avoid legal challenges. Knowing the competition’s rates and what sells well is an economic tool. The store operates hours are 12p to 8p, 5 days a week...
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...Environment of Business Tamie Martz American Intercontinental University Abstract Creating a business can be an adventure, but it can also be a challenge. When you think of how you would fund your business. And what kind of structure management you would have. Operational issues and planning you will work with. Technology so many different types of software Company’s use. Technology is changing every day. And so many working environments to consider, like basic legal, social, and economic environments within a business. Environment of Business Basic legal environment this introduces the American legal system with particular emphasis on the relationship of laws with business. Which includes development of law, the judicial system, contract agency, Partnership Corporation, and government trade and labor regulations. All aspects of legal environment include business organization. Start with top management; they are production, and transportation, marketing, finance and accounting, and personal. Understand the law and key functions of the legal system. The legal environment, the legal environment of business law refers to a code of conducts that defines the behavioral boundaries for many business activities. (The Legal Environment of Business By Roger E. Meiners, Al H. Ringleb, Frances L. Edwards) A person of social environment includes they way people live. Their living and working conditions, income level and education background...
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...you should choose 1 then 3 for academic issues from the automated menu.”1-877-642-2999“Used for problems entering the class”1-866-448-6703 or 1-303-873-0005“Used for problems once in the class” | INSTRUCTIONAL MATERIAL | Kubasek, N. K., Brennan, B. A., & Browne, N. (2009). The legal environment of business: A critical thinking approach (5th ed.). Upper Saddle River, NJ: Pearson-Prentice Hall.Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2010). Business ethics: Ethical decision making and cases (7th ed.). Boston: Houghton Mifflin Company/South-Western/Cengage Learning.PLEASE READ SYLLABUS PART II in the Course Home tab, it contains important University policies.GETTING TECHNICAL HELPTechnical questions regarding eCollege or classroom issues should be referred to helpdesk@strayeronline.net. Or you may phone the helpdesk at 1(866)448-6703.If the question regards a Strayer system, technical support can be reached at 1(877) 642-2999. Any technical inquiries sent to the instructor will, as a matter of course, be forwarded to the Helpdesk. The eCollege helpdesk is available 24 hours a day, seven days a week, and 365 days a year. Strayer Tech Support is available during normal Strayer Online business hours.QUESTIONS AND ANSWERS TABIn the course home area tab you may ask content related questions to your fellow students or your Professor. You should check this area to see anyone has a question for you. I check it often and will...
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...importance of this science to people and businesses. In this essay I will cover the first most important aspects of the introduction to this science discussing terms and ideas of the roles and functions of law. The term law, throughout history, has been defended in a variety of ways. The most generally definition of the law is a body of rules of action or conduct prescribed by controlling authority, and having legal binding force. Law may be set down in a written code as prescribed by an elected legislative body, but also takes the form of judicial decisions and actions of government agencies. While there are many sources of American law, the common characteristic of the current state of law is that it creates duties, obligations, and rights that reflect accepted views of a given society. Jurisprudence could almost be defined as the science and philosophy of law. Jurisprudence may be divided into three branches: analytical, sociological, and theoretical. The analytical branch articulates axioms, defines terms, and prescribes the methods that best enable one to view the legal order as an internally consistent, logical system. The sociological branch examines the actual effects of the law within society and the influence of social phenomena on the substantive and procedural aspects of law. The theoretical branch evaluates and criticizes law in terms of the ideals or goals postulated for it. The purpose of law includes four fundamental purposes: 1. To protect the safety of people. 2)...
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...ABSTRACT Depending on how much say the owner wants to have in the decision making of the business. Business owners can keep track of changes in different ways by reading the newspaper and various business publications. This way they can keep up with changes and can adjust their businesses accordingly. Business owners who are not aware of the changes around them have less success that those who pay attention. What is the basic legal environment? What is social environment? What are the operational and financial issues? What are the potential change factors? I will explain how the different business environments work and the impact they have on society. There are many stages a business must go through to ensure success and growth. Business operates within a frame work of laws and economic forces. The basic legal environment of business is governed by state, country and international laws. It includes laws on what can or cannot be produced or sold. Consumer and employee protection laws, taxes and other financial laws. As well as many other rules and regulations with regards to business ethics. It also covers the when and how to seek legal advice in case of disputes. They are numerous legal constraints on business and the requirements and duties for a company. There are different correspondences about the international legal environment, especially the laws that affect multinational companies. These laws vary between countries, but generally...
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...Basic concepts of management Olugbemiga T. Williams AIU University The basic legal environment of business is governed by state, country and international laws. This includes laws on what can or cannot be formed or sold, consumer and employee protection laws, tax and other financial laws, as well as many rules and protocols with respects to business ethics, when and how to seek legal assistance in case of differences. The production or sale of a certain goods is illegal or at least strictly regulated in many countries. This includes, among others, selling of dangerous drugs, guns and explosives. Employee protection protects laws against unfair perception based on race, color, religion, sex, or age; laws against partial removal and sexual or other harassment; health and safety laws and laws regulating minimum wages. The social environment consists of the sum total of a society's beliefs, customs, practices and behaviors. It is to a large extent, a fake construct that can be compared with the natural environment in which we live. Every society has ideas about their own social environment. Some of the customs, beliefs, practices and behaviors are similar across cultures, and some are not. For example, an American traveling to Britain will find many familiar practices but not so much if traveling to China. This is a social environment created by a society at large in which a business functions can be bring up to as its external social environment. If a business runs in a multicultural...
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...Examines the legal environment of business, the sources of American law, and the basis of authority for government to regulate business. Provides a survey of tort law, contracts and the UCC, and the federal and state courts. INSTRUCTIONAL MATERIALS Required Resources Bagley, C. E., & Savage, D. W. (2010). Managers and the legal environment:2010 custom edition (6th ed.). Mason, OH: South-Western Cengage Learning. Supplemental Resources Fischbach, J., & Fischbach, M. (2005). Rethinking optimality in tort litigation: The promise of reverse cost-shifting. BYU Journal of Public Law, 19(2), 317-351. Kalen, S. (2008). The transformation of modern administrative law: Changing administrations and environmental guidance documents. Ecology Law Quarterly, 35(4), 657-720. Ward, E. (2007). Mandatory court-annexed alternative dispute resolution in the United States federal courts: Panacea or pandemic? St. John’s Law Review, 81(1), 77-98. COURSE LEARNING OUTCOMES 1. Describe the legal environment of business, the sources of American law, and the basis of authority for government to regulate business. 2. Explain basic court procedures, types of courts, and alternative dispute resolution methods. 3. Describe the elements of a contract and explain the basic provisions of contract law relative to offer, acceptance, capacity, legality, fraud, third-party rights, performance, and breach of contract. 4. Explain the components of the Uniform Commercial Code (UCC) relative to sales and lease...
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...UNIT 5 INDIVIDUAL PROJECT BUSN105 – Introduction to Business by La’Ketica T. Moore AIU Online April 22, 2013 Abstract In this unit I was asked to describe an organization basic legal, social, and economic environment. I am asked to describe the management structure and its operational and financial issues. Research and identify the impact of potential change factors including the role of technology. UNIT 5 IP Introduction The organization that will be discussed in this paper is healthcare this organization is important to this writer because it is her chosen field of employment. It is important to learn about healthcare because of all the recent changes to the law on a state, local, and federal level. This writer feels in order to learn about the healthcare regulations you need to learn about your rights as either a provider or as a patient. Basic Legal Environment The healthcare industry has come up on several changes over the past years that lead to lawsuits. Some of the legal issues that the healthcare has to deal with would be HIPPA which is the Health Insurance Portability and Accountability Act which protects the privacy of individually identifiable health information. OSHA assures the safe and healthful working of men and women by setting and enforcing standards and providing training, outreach, education and assistance. Patient documentation and communication which sparked the malpractice lawsuits over a decade ago, in keeping the patient informed...
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...COURSE SYLLABUS BUSINESS FINANCE 3500 - LEGAL ENVIRONMENT OF BUSINESS Instructor: Joseph R. Irvine CPA, M.S., J.D. The Ohio State University 240 Fisher Hall Phone: 688-5699 e mail - Irvine.17@osu.edu Course Description: An introduction to American legal institutions and sources of law and an analysis of basic concepts of public and private law related to business decisions. 1.5 credit hrs. Meeting Time and Location: MWF 10:20-11:45, Room 320 Schoenbaum Hall. Course Objectives: The primary objectives of this course are to provide students with: a) an understanding of the legal framework within which American business operates, b) an introduction to basic concepts of public and private law relevant to business decisions, and c) experience in legal analysis. This course will involve discussion, questions and answers on the materials, and case study. Class participation will be expected. Students will be expected to discuss the cases and problems in each chapter covered and turn in answers to the chapter problems. Unannounced quizzes may be given and case briefs may be required. Primary Text: Fundamentals of Business Law, Summarized Cases, 8th Edition Roger LeRoy Miller and Gaylord A. Jentz, Published by South-Western Cengage Learning Softbound...
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...economic environment on business How economic environment affects different businesses Content The economic environment consists of External factors in a business' market and the broader economy that can influence a business. You can divide the economic environment into: • The microeconomic environment - which affects business decision making - such as individual actions of firms and consumers(Market size, Demand, Supply, Competitors, Suppliers and Distribution chain, such as retailer stores) • The macroeconomic environment - which affects an entire economy and all of its participants. Many economic factors act as external constraints on your business, which means that you have little, if any, control over them (Interest rates, Taxes, Inflation, Currency exchange rates, Consumer discretionary income, Savings rates, Consumer confidence levels, Unemployment rate, Recession and Depression) • Describe at least two economic environment micro or macro. • Comparison of two contrasting economic environment - challenges business face • Describe how political factors impact on business activities during an economic environment(recession) i.e. recruitment of staff • social factors impact on business activities i.e. ethics( the business social responsibility policy) and suppliers and distribution chain • and legal factors impact on business activities i.e. employment law during recruitment of staff • Compare and contrast the political and social environment in two different...
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...The general environment includes Demographic Trends, Socio-cultural Forces, Economic Forces, Technological Forces, Political and Legal Forces, Global Forces. All of them effect the business strategic decision. But different forces have different effect influences. For Demographic Trends, the most visible, easily quantifiable and predictable forces. But, surprisingly, not the most thoroughly examined. For examples: The population pyramid (aging trends); increased diversity/immigration; geographic distribution/migration to sun-belt states, etc. In socio-cultural, awareness of and compliance with the values, beliefs, and lifestyles of society can help organizations prepare for the future, and changes in society can create opportunities for and threats to an organization’s growth. Just like Quality of Education; Crime Levels; Foreign Investment levels; Environmental awareness, etc. Economic forces can influence demand for products and services, and the costs of producing / providing them. Such as interest, Inflation, Exchange rates, Tariffs and so on. The technological also cover invention, innovation, basic innovation and technological Forecasting. Invention is an idea with commercial potential. Innovation is An invention that can or will be commercialized. The basic innovation always impact more than one industry and technological forecasting is Monitoring industry trends. For business strategic decision, in political and legal forces, the government can macro-control economy...
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