...PESTEL analysis to understand how the macro-environment factors affect the industry. Each single factor has the potential to fundamentally change the competitive Samsung operates in. Due to the fact that the mobile industry is easy to be influenced by external environment, the analysis is especially important for Samsung. As PESTEL is one of the frameworks that help to understand market growth or decline, business position, potential and direction for operations (Kotler, 1998). We hope that after reading this report, you will agree that PESTEL really affect how a company works. ing PESTEL analysis to understand how the macro-environment factors affect the industry. Each single factor has the potential to fundamentally change the competitive Samsung operates in. Due to the fact that the mobile industry is easy to be influenced by external environment, the analysis is especially important for Samsung. As PESTEL is one of the frameworks that help to understand market growth or decline, business position, potential and direction for operations (Kotler, 1998). We hope that after reading this report, you will agree that PESTEL really affect how a company works. ing PESTEL analysis to understand how the macro-environment factors affect the industry. Each single factor has the potential to fundamentally change the competitive Samsung operates in. Due to the fact that the mobile industry is easy to be influenced by external environment, the analysis is especially important for...
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...Factors & Legal Concerns Introduction The current business environment is an ever-changing and dynamic environment where most business operates. There are a number of factors that can have an impact on the operation of a business. These items are legal factors which can be an important factor that should be kept in mind while a business conducts its business activities. Another will be that of economics and the associated factors, these are considered the most important factor in all other external factors that affect the operation of a company or organization and will be at all levels which will include the local levels, and the state and national levels as well (Conklin, 2006). The economy is always going to be a concern that could affect organizations effectiveness. It is important for management to consider economic factors and legal concerns in conducting business operations. The economic factors are described as the factors that affect the financial issues of the businesses to include labor, taxes, interest rates, etc. The business environment entails both internal and external factors. The external will be the ones that are beyond the control of the business itself. The internal factors will be items that can be controlled by the business. Economic policies of government, capital market and business cycle are an important part of the economic environment of a business. The legal environment will include the laws and rules that regulate businesses. This...
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...factors and legal considerations Firms operate their business in climate of dynamic business environment and ongoing process, which is not steady due to many factors that influence their operational activities of business. The economics factors, and legal factors are among the very important factors that affect the economy as in the whole and the business in particular. To operate a business successfully in the dynamic environment and to follow the changes of the market, the broad of directors of ABC Complete Kitchens, Inc., should include economic and legal consideration in operations plan, to have reliable market conditions and avoid the product liability. However, the economic factors can be described as the external or internal factors that impact the financial status of the business such as labor costs, taxation, and interest rate etc. Where in the other hand, legal factors are the laws and rules that regulate the business to behave in the right way such organizational law, employment law, contract law, and securities law etc. This memorandum will describe and a will analyze the macro- and micro- economics factors that could directly or indirectly affect ABC Complete Kitchen, Inc. operations, including the legal considerations that should be considered by the management of the plant. Economic factors Macroeconomic factors Companies on their business operation are affected internally and externally. As firm faces the competition from the external competitor...
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...product to do very well in the competitive business world. For a strategic marketing the company should be able to take opportunities both in marketing and promotion (Lorette, 2015). Marketing manager should be able to research and evaluate the target market and how to make more customers of the company’s product. The company should study the external and the internal environment so that it can successfully grow and market the products in places where there are more chances of growth. Internal environmental factors are those which can be controlled by the company for instance employees, resources and management. External environment include political, economic, technological demographical and sociocultural factors (Tucker, 2015). A proper analysis of the SWOT is necessary for an ideal marketing strategy this is because of the assessing the strength, weakness, opportunity and threats of a company. SWOT of Unilever in market line in UK There is need to analyze the strength, weakness, opportunity and threats in Unilever especially in United Kingdom. This is because the recent political issues in the UK can greatly affect the growth strategy of the Unilever both locally and globally. According to (Cescau & Rivers, 2015) there is need to have a proper execution of plans to maximize on profitable areas and products. Strength Unilever Company was founded in Britain and there is a successful branding of Unilever all over the world and mostly in UK and keep on inventing new products...
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...into the market through the collaborative efforts of Steve Jobs and Steve Wozniak in the year of 1976 and is aimed at reaching the diverse global community. The changes in the external environment of the company determine the decisions that the corporation will make. Apple Inc. has reputable frameworks that have been developed to assess the external environments of the company. The company has identifies the specific domains that affect the operations of the company from the outside. These forces on the organization enable the operations of the company to be influenced. In a broader sense, the entities that fall outside the operations of the Apple Inc and relate to the company are the external environment. These are the elements that exist outside the company confines and still affect the organization and its operations. The fast expansion of e-commerce in the business realm is one of the major external factors that affect the operations of Apple Inc. The company will hence have internal adjustments of its systems so as to keep up with the changing e-commerce. Apple Inc interacts with its external environment to accomplish it set goals. Apple Inc is aimed at creating value and competition that is sustainable for the company to attain great profit maximization levels. Through the following internal competitive environments, Apple Inc can remain top in the computer market. The strong brand image that the company portrays to the rest of the public leads to strong relationships between...
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...Chapter TWO THE ORGANIZATIONAL ENVIRONMENT CHAPTER CONTENTS Overview of the Chapter 2 Learning Objectives 2 Key Terms 2 Lecture Outline 3 Learning Objectives Revisited 9 Lecture Enhancers 10 Notes for Topics for Discussion and Action 12 Notes for Building Management Skills 16 Notes for Management For You 17 Notes for Small Group Breakout Exercise 17 Notes For Managing Ethically 19 Notes For Web Exercises 19 Notes for You’re the Management Consultant 19 Notes for Management Case 20 Notes for Management Case in the News from the pages of Business Week 21 Overview of the Chapter This chapter examines the organizational environment in detail. It identifies the principal forces—both task and general—that create pressure and influence management and thus affect the way organizations operate. It concludes with a study of several methods that managers can use to help organizations adjust and respond to forces in the organizational environment. Learning Objectives 1. Explain why being able to perceive, interpret, and respond appropriately to the organizational environment is crucial for managers’ success. 1. Identify the main forces in an organization’s general and task environments, and describe the challenges that each force presents to managers. 1. Discuss the main ways in which managers can manage the organizational environment. Key Terms barriers to entry brand loyalty command economy competitors customers demographic forces ...
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...Food Industry Summary Although businesses have no control over macro environment factors but working together with it and manage those factors to suit the business to an advantage. There are many factors in the macro-environment that will affect the decisions of the managers of any business. Tax changes, new law regulation, trade barriers, demographic and government policy changes are all examples of macro change. The PESTLE factors have great influences in all businesses upon any decision making in a given business environment. It plays a vital role as an analyzing tool in strategic management, influential factors and market trends which enable firms to have better understandings and more accurate view of the surroundings in which it is operating or which it intends to enter. As we apply PESTLE analysis to the Fisheries of the food industry sectors it has shown that over the past few years consumer behavior have changed to a more health conscious in their food consumption which seafood especially fish product have moved to the front line of healthy eating recommendations. It has high source of protein and also benefits in the omega-3 values, essential fatty acids and low in saturated fat. The UN’s food and Agriculture Organisations {FAO} estimates that seafood represents 16 per cent of the world’s animal protein intake sectors and the industry employs approximately around 35 million people globally. In Australia the governments have also implemented this by advertisement...
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... 1. Introduction page 2 2. The external environment page 3 3. Three models of relations between the company and the external environment page 7 4. Analysis of internal environment page 8 5. Conclusion page 9 6. References page 9 1. INTRODUCTION From the characteristics of the company as a technological and open economic system, it follows that the relations with the surroundings are basis of its operation and development. Just like the company that is subject to changes, so is the environment, which leads to changes of mutual and dependent direct and indirect relationships. The environment is a factor in the survival and effectiveness of the function and effectiveness of enterprise development. Creating a proper business and social environment in which firms operate normally, grow and develop is the permanent task of any government if it wants to ensure economic growth and prosperity of the country. It is beyond any doubt that the developed market environment is the starting point for the construction of the market system. You need to know that the institutional arrangements and economic and systemic mechanisms in successful economies of most developed countries (Japan, USA, Germany ...) essentially differ with each other. Thus, we conclude that there is no universal model of the economy that can be applied to any other country. Immediate environment consists of internal and external stakeholders. Internal...
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...Week 4 Discussions Discussion 1 Production Economics The economic environment is likely to affect short run production for the next 12 months. It influences the use of resources in companies and the economy in general. The economic environment is influenced by the interaction and integration of other macroeconomic parts (William, 2012). As a result of this the economic environment dictates the pace of economic growth, inflation, and national income. This variable is the most likely to affect production in the short run since it changes frequently and rapidly. When there is an adverse change in the economic environment, production is halted since the cost of acquiring resources rises. The raw materials become expensive and thus organizations have to work under tight budget. The interest rates of borrowing increases, thus the burden has to be passed to the consumers. The sales will ultimately reduce since nobody want to spend on expensive products in a tough economy. Therefore, the firm has to cut its production to evade excessive supply over demand. Indeed for the next 12 months there may be a drastic change in production. There several strategies to be implemented in order for the managers to avoid this economic environment draw back. The managers should make orders of raw materials earlier and when their prices are at lowest. This will protect them from inflationary prices of the raw materials. Low cost of raw materials will reduce the price of the products; hence...
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...BUSINESS ORGANISATION’S AIMS & OBJECTIVES (2) |Lecturer: Ms. Cassie @ Chitara Ramasamy | | |Session: August 2012 | | |Lesson Outline: | | |Different types of business (profit or non-profit) | | |Internal and external business environments |[pic] | |Environment’s elements impact to businesses | | | | | |Learning Objective of Topic 1: | | |After reading this chapter, you should be able to | | |explain type of business appeal to them and reasons | | |explain how businesses are influenced by...
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...CHAPTER 1 1. DEFINITION INTERNAL CONTROL is a process effected by people at every level of an organization, designed to provide reasonable assurance about the achievement of objectives in the – effectiveness and efficiency of operations, - reliability of financial reporting, - compliance with applicable laws and regulations. A PROCESS: it is a multiplicity of processes, a series of actions, that is integrated with the basic management processes of planning, executing and monitoring in order to enable their function and in order to monitor them. It is not added on to an entity’s activity, but it should rather be “built-in” in order to be most effective. It is also critical to the success of quality programmes and to cost containment and response time (i.e. not adding new procedures but focusing on existing one and building internal control into them). PEOPLE: internal control is effected by the BoD, management and other personnel. People establish objectives, responsibilities, limits of authority and then put control mechanisms in place. Internal control recognizes that every individual brings in different abilities, needs, priorities, which affect internal control and are in turn affected by internal control itself. The BoD does not only oversee, but it also provides directions and approves transactions and policies, so it is an important element of internal control. REASONABLE ASSURANCE: internal control does not provide absolute assurance. Limitations regard faults in human...
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...market through the collaborative efforts of Steve Jobs and Steve Wozniak in the year of 1976 and is aimed at reaching the diverse global community. The changes in the external environment of the company determine the decisions that the corporation will make. Apple Inc. has reputable frameworks that have been developed to assess the external environments of the company. The company has identifies the specific domains that affect the operations of the company from the outside. These forces on the organization enable the operations of the company to be influenced. In a broader sense, the entities that fall outside the operations of the Apple Inc and relate to the company are the external environment. These are the elements that exist outside the company confines and still affect the organization and its operations. The fast expansion of e-commerce in the business realm is one of the major external factors that affect the operations of Apple Inc. The company will hence have internal adjustments of its systems so as to keep up with the changing e-commerce. Apple Inc interacts with its external environment to accomplish it set goals. Apple Inc is aimed at creating value and competition that is sustainable for the company to attain great profit maximization levels. Through the following internal competitive environments, Apple Inc can remain top in the computer market. The strong brand image that the company portrays to the rest of the public leads to strong relationships...
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...Introduction: This essay mainly focuses on the relationship between the change of customers’ attitudes towards and expectations and financial services sector’s respond. A review of the theoretical background of business external environment and contextual environment is represented as well to give a theoretical framework. This essay consists of three major parts. The first part refers to the competitiveness of the financial services sector and the importance of organisations recognizing the influences of the external environment and how the developments in these influences can have a substantial impact on organisational success. The second part gives the theoretical framework of business external environment and contextual environment, and especially concentrates on the influence of the social environment on customer attitudes and expectations. In addition, it reveals customers and financial services sector are not isolate parts to each other, whereas they are in a two-way interaction process. The third part provides an example in particular to illustrate the ways in which organisations have recognised changes and how to respond in terms of products and services in order to achieve customer satisfaction and maintain their competitive position. With the development of economic globalization, the number and cooperation of countries’ financial organizations are getting larger and closer, so the competition is increasingly fierce. Competition here includes not only the firms...
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...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 regulate accountancy practices...
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...Coursework 1 - Microeconomic concepts Every organization has to analyze its business environment before making policies and strategies for its day to day operations, marketing and promotional efforts, and competing with the industry rivals (Loudon, Stevens, & Wrenn 2004). The key factors of the business environment that affect the business operations of a company include political, economic, technological, environmental, cultural, and demographical factors. This essay will explain various markets structures which are monopoly, oligopoly, perfect competition and monopolistic competition. The purpose of this paper is to discuss the impacts of different environmental factors on the business operations of Barclays. The discussion has been made in the light of international accepted microeconomics concepts and practices. Market structures Monopoly is a market structure, where only a single seller producing a product having no close substitutes. This single seller may be in the form of an individual owner or a single partnership or a Joint Stock Company. Such a single firm in market is called monopolist. Monopolist is price maker and has a control over the market supply of goods. On the other hand, Perfect competition a market structure characterized by a large number of firms so small relative to the overall size of the market, such that no single firm can affect the market price or quantity exchanged. Perfectly competitive firms are price takers. Moving on, in an oligopoly...
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