...Global Economic Environment Generally, global economic environment is influenced by various factors such as technological, environment, political, socio-cultural, and demographic that directly affects businesses. Economic environment refers to the nature of economic systems and policies, distribution of income and wealth, and level of income. Indeed, economic environment has a complex and very dynamic nature; it is continually changing along with the changes in political situations and government policies. Global Economic Environment Mainly, global economic environment is comprised of several components including the economic systems, conditions, policies, legislations, and environment. Indeed, the economic policies being imposed in every business unit are significantly influences by the overall condition of economy. This includes the improvements that occurred in economic conditions such as the purchasing power of the public, standard of living, distribution of income, and supply and demand. Mainly, these factors reflect the size of the market. Another factor reflecting the economic condition is the business cycle, which is critical to every business unit. It refers to the different stages such as prosperity, boom, decline, depression, and recovery. The economic condition of a country can be understood through its national income, per capita income, and distribution of income, demand and supply trends, inflation rate, industrial growth rate, trends in industrial sickness...
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...MACRO FACTORS AFFECTING BUSINESS ENVIRONMENT SUBMITTED BY: AAYUSH VERMA INTRODUCTION A business firm is an open system. It gets resources from the environment and supplies its goods and services to the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components...
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...MACRO FACTORS AFFECTING BUSINESS ENVIRONMENT SUBMITTED BY: AAYUSH VERMA INTRODUCTION A business firm is an open system. It gets resources from the environment and supplies its goods and services to the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components...
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...ALWAYS LEARNING B401 Assignment Business Environment PROFESSOR: Apoorva Chaudhry th SUBMISSION DATE: 4 May 2016 15100150 PEARSON COLLEGE LONDON BUSINESS & ENTERPRISE STUDENT – LEVEL 4 B401: Business Environment 15100150 Level 4 ALWAYS LEARNING 2 PEARSON B401: Business Environment 15100150 Level 4 B401 – Assignment ..................................................................................................................... 5 business environment .......................................................................................................................... 5 Task 1 ........................................................................................................................................... 5 part 1 ....................................................................................................................................................... 5 Part 2 ....................................................................................................................................................... 7 Part 3 ....................................................................................................................................................... 8 TASK 2 - Power Point Slides’ notes ..................................................................................................... 9 TASK 3 ..............................................................................................
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...International Journal of Economy, Management and Social Sciences, 2(2) February 2013, Pages: 31-36 TI Journals International Journal of Economy, Management and Social Sciences www.waprogramming.com ISSN 2306-7276 PEST Analysis: The case of E-shop Dimitrios Nikolaou Koumparoulis Full-time Professor of Economics and Management, Universidad Azteca – Mexico. AR TIC LE INF O Keywords: AB STR AC T PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. At this paper we study the case of E-shop, a private company in Greece, illustrating the reasons why a company should work on pest framework. The author would like to dedicate this paper to Mr. David Scott and his family. © 2013 Int. j. econ. manag. soc. sci. All rights reserved for TI Journals. pest analysis case study E-shop Jel Classification: M10 M19 1. Introduction In the new economic environment that has emerged as an impact of the recent ‘crisis’, the complexity of each industry forms a demanding context that affects consistently both the internal and external environment of organizations. As a result, the majority of the firms need to maintain their competitive advantage. However, a firm have to constantly increase the value of their products offered to clients in order to sustain their competitive advantage (Barney, 2008), as well as being profitable...
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...Koumparoulis Full-time Professor of Economics and Management, Universidad Azteca – Mexico. AR TIC LE INF O AB STR AC T Keywords: PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. At this paper we study the case of E-shop, a private company in Greece, illustrating the reasons why a company should work on pest framework. pest analysis case study E-shop Jel Classification: The author would like to dedicate this paper to Mr. David Scott and his family. M10 M19 1. © 2013 Int. j. econ. manag. soc. sci. All rights reserved for TI Journals. Introduction In the new economic environment that has emerged as an impact of the recent ‘crisis’, the complexity of each industry forms a demanding context that affects consistently both the internal and external environment of organizations. As a result, the majority of the firms need to maintain their competitive advantage. However, a firm have to constantly increase the value of their products offered to clients in order to sustain their competitive advantage (Barney, 2008), as well as being profitable in order to exist (Egan, 1998). The industries can be described as a set of external and internal environment so, every firm is affected by external environment such as the market, client, etc and the internal environment including the employees of the...
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...TECHNOLOGY RESEARCH VOLUME 1, ISSUE 6, JULY 2012 ISSN 2277-8616 The Emerging Challenges in HRM Mrs. Ekta Srivastava, Dr. Nisha Agarwal Abstract This paper analysis the various challenges which are emerging in the field of HRM.The managers today face a whole new array of changes like globalization, technological advances and changes in political and legal environment. changes in Information technology. This has lead to a paradigm shift in the of roles professional personnel. The great challenge of HRM is to attract, retain and nurture talented employees. This paper also analysis how to overcome with these challenges. These challenges can overcome through cross cultural training, technological and informational training of HR people and motivation of employees through various techniques Objective of paper To study the details of emerging challenges To find out the various methods and techniques through which HR can overcome the challenges of present business scenario Methodology – The analysis of this paper is totally depend upon secondary data like journal, books and various website from internet Introduction HR managers are facing many challenges in present business scenario like Globalization workforce diversity, technological advances and changes in political and legal environment change in information technology. All these challenges increase the pressure on HR managers to attract, retain and nurture talented employee. HR professional can’t ignore these...
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...International Journal of Economy, Management and Social Sciences, 2(2) February 2013, Pages: 31-36 TI Journals International Journal of Economy, Management and Social Sciences www.waprogramming.com ISSN 2306-7276 PEST Analysis: The case of E-shop Dimitrios Nikolaou Koumparoulis Full-time Professor of Economics and Management, Universidad Azteca – Mexico. AR TIC LE INF O Keywords: AB STR AC T PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. At this paper we study the case of E-shop, a private company in Greece, illustrating the reasons why a company should work on pest framework. The author would like to dedicate this paper to Mr. David Scott and his family. © 2013 Int. j. econ. manag. soc. sci. All rights reserved for TI Journals. pest analysis case study E-shop Jel Classification: M10 M19 1. Introduction In the new economic environment that has emerged as an impact of the recent ‘crisis’, the complexity of each industry forms a demanding context that affects consistently both the internal and external environment of organizations. As a result, the majority of the firms need to maintain their competitive advantage. However, a firm have to constantly increase the value of their products offered to clients in order to sustain their competitive advantage (Barney, 2008), as well as being profitable...
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...Marketing Summary Chapter 1: Global Environmental Drivers Over the last few decades, international merchandise trade has expanded at astounding rates to reach $16.3 trillion in 2011. In addition, trade in services has grown at particularly high rates within the last decade to reach almost $3.7 trillion in 2010. As a result, nations are much more affected by international business than in the past. Global linkages have made possible investment strategies and marketing alternatives that offer tremendous opportunities. Yet these changes and the speed of change also can represent threats to nations and firms. On the policy front, decision makers have come to realize that it is very difficult to isolate domestic economic activity from international market events. Factors such as currency exchange rates, financial flows, and foreign economic actions increasingly render the policymaker powerless to implement a domestic agenda. International interdependence, which has contributed to greater affluence, has also increased our vulnerability. Both firms and individuals are greatly affected by international trade. Whether willing or not, they are participating in global business affairs. Entire industries have been threatened in their survival as a result of international trade flows and have either adjusted to new market realities or left the market. Some individuals have lost their workplace and experienced reduced salaries. At the same time, global business changes have increased the...
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...Globalisation, challenges and changes Ian Brooks, Jamie Weatherston and Graham Wilkinson Learning outcomes On completion of this chapter you should be able to: understand the impact of globalisation; understand the move towards greater dynamism, complexity and uncertainty (turbulence) in the international business environment of most firms; speculate about the future prospects for organisations, individuals, governments and groups in society as a result of environmental turbulence; outline the nature of chaotic and turbulent environments and the implications of these for long-term planning and flexible working; reflect on the differences between predictable and unpredictable change and the implications of this for organisations; understand the characteristics of the advantages and drawbacks of flexible working; discuss the influences that the changing international business environment and, in particular, the trend towards flexible working, have upon individuals and groups in the social community; explore environmental scenarios; discuss the future role of government and understand the environmental forces acting on public sector organisations. Key concepts dynamism, complexity, uncertainty and turbulence predictable and unpredictable change chaos theory futurology long-term planning environmental scenarios and planning flexible working demographic time bomb social inclusion and exclusion interventionist and laissez-faire government. Chapter...
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...2 competitive advantage 1.0 2 human resources 2.0 4 technological progress 3.0 5 corporate social responsibility 4.0 6 conclusion 7 introduction| Globalisation in the last decades has attracted much attention and these days the pace and scale associated with the rapid emergence of global value chains as production processes is without precedent. Today more than ever, companies have more options in regards to where and how they produce their products, which target markets and consumers they should approach and how they should communicate with both their suppliers and buyers. Trade liberalization and more open economic policies have facilitated international economic integration and combined with technical advances (mainly in communications and transport) they lower costs and foster globalization further. Companies find the advantages of using various sites and source inputs globally thus becoming increasingly fragmented geographically and that was made possible by information and communication technology which allows the value chain to be sliced in various locations and help reduce costs. As information and communication technology enables the production of various services independent of location, globalization now involves more foreign investment and trade with many service activities becoming internationalized. The need to globalise value chains stems from a number of factors. The desire to become more efficient is the main aim of...
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...The international business and trade environment is the backbone of global economy. Trade agreements to buying and selling goods and services internationally give manufacturers in various countries the opportunity to expand beyond the domestic market. Trading across national borders increases sales, creates jobs, balances seasonal fluctuations and provides a variety of products and services. As the global economy continues to strengthen, international trade continues to be in demand. 4.2 OBJECTIVES Increases Sales For some businesses, the drop in the value of the dollar increases business internationally. To capture the international market, businesses have launched Internet marketing campaigns and websites targeted at consumers in specific...
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...CHAPTER 3 The Competitive Environment Learning Objectives Upon completing this chapter, you should be able to: Identify the structural characteristics of the environment faced by the firm and how these drivers influence both competition and value creation Choose the appropriate level of specificity in environmental analysis, depending on the locus of the decision-making group Predict how changes occurring in the environment might influence future competition and value creation Incorporate understanding of environmental changes into the development of strategy Consider options for influencing changes in the firm’s environment so as to improve future value creation Analyze customers and competitors to develop a competitive advantage and strategy Appreciate that strategy is realized in the future: decisions are made now but their realization occurs in the future In late 2000, GE proposed to take over Honeywell. Both these firms are U.S.-based, and the value of the merger was $USB42. But a merger between two such large firms has global implications and ramifications. Although the U.S. Federal Trade Commission (FTC) had approved the merger, the European Union (EU) decided to oppose it on the grounds that it had the potential to reduce competition in Europe. Its concern was that GE’s strong position in the manufacture of jet engines and its ability to offer finance, if added to Honeywell’s aviation electronic business, would allow the merged entity to bundle their products together...
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...Page 1 Introduction: ‘business’ and its ‘environment’ Paul Wetherly and Dorron Otter Contents The approach of this book—themes and issues 2 What is business? 4 Business and the problem of scarcity 5 The private sector—on closer inspection 7 28 Review and discussion questions 29 Assignments 30 Further reading 30 4 The private sector of business Case study: ‘UK plc’ Other sectors of business—the public sector and the third sector 10 Online resources 30 A simple model of business in its environment— transforming inputs into outputs 13 References 30 Conceptualizing the environment of business 15 Interaction between business and the environment—responding, influencing and choosing 17 The nature of the internal environment 20 Types of organization structure 21 Environmental analysis 24 Summary 27 01 9780199203055_001_030_CH01.qxd 2 X 11/1/07 15:14 Page 2 Introduction Learning objectives When you have completed this chapter you will able to: l Recognize different uses of the term business, and understand the different forms of business in terms of, for example, private, public and not-for-profit organizations l Describe the complexity of the external environment in which business operates and explain the idea of environmental uniqueness l Understand the nature of the ‘internal’ environment of business l Understand how...
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...COLLEGE OF HIGHER EDUCATION AND MEDIA TECHNOLOGY Strategic Business Management and Planning INTRODUCTION STRATEGIC BUSINESS MANAMGEMEMT The way that a strateg ic plan is developed depends on the nature of the organization's leadership, culture of the organization, complexity of the organization's environment, size of the organization, expertise of planners, etc. For example, there are a variety of strategic planning models, including goals-based, issues-based, organic, scenario (some would assert that scenario planning is more of a technique than model). PROFIT AND NON PROFIT ORGANISATION (L O1) When an organization tries to realize better its central mission, it is often important to maintain both line and staff units' integration with the central mission while flexibly and innovatively responding to evolving and changing external markets and environments. Small non profits and small for-profits tend to conduct somewhat similar planning activities that are different from those conducted in large organizations. On the other hand, large non profits and large for-profits tend to conduct somewhat similar planning activities that are different from those conducted in small organizations. The scheduling for the strategic planning process depends on the nature and needs of the organization and the its immediate external environment. For example, planning should be carried out frequently in an organization whose products and services...
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