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Market and Nonmarket Environments Any Issues or Changes That Happen in One of These Environments Can Directly Cause Change to the Other. Since Both of These Are so Closely Related and to a Great Importance for a Firm

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Canadian Business Environment

Market and Nonmarket Environments

Any issues or changes that happen in one of these environments can directly cause change to the other. Since both of these are so closely related and to a great importance for a firm to run successfully, they have put more focus on managing both aspects of the company. The interrelationship between the market and nonmarket environment is heavily based on the role of management. Since a firm will operate in both the market and nonmarket environments, managers are there to measure the impact one has on the other. The issues found in the nonmarket environment are directly related to the market environment of the firm. The nonmarket environment is a little more difficult to control than the market environment, but each firm is aware of the importance of running sufficiently in both aspects in order to be successful.
As shown in figure 1-1 (Baron p. 3), the relationship that the nonmarket and market environment has. Market environment determines the significance of nonmarket issues to the firm. Nonmarket environment shapes business opportunities in the market place.

Analysis of the Nonmarket Environment

When analyzing the nonmarket environment of an organization the main focus is the four I’s that characterize the organization. The four I’s consists of Issues, Interests, Institutions and Information. The issues aspect is the main part of the nonmarket analysis, issues of a firm can be very vast, and they can be anything from safety, taxes, antitrust, human rights to issues with the environment, or anything that affects an organization. The next I is interests, they include groups or individuals that have a stake in the issue. Interests could also include activist, organized or unorganized groups, for example the National Automobile Dealers Association to the everyday Car buyer and taxpayer....

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