What Factors Affect The Change Of A Business - 948 Words

Activity 2 Questions 1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? There are four factors that help the change of in business. They are natural resources, capital, human resources, and entrepreneurship. I think this is more likely to accelerate over time because people need these services. As people grow and develop their needs change. As things happen in people’s lives expectantly or expectantly they are more likely to need some type of assistance. 2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit? Entrepreneurship can kicks-tart the economy by creating work opportunities for the community. However, the entrepreneurship cannot make it on a community that does not support them. Anyone who has the desire to gain employment and better themselves can gain something from an entrepreneurship. Other parties can befit by letting them in and having freedom of trade and not over taxing. 3. When did American business begin to concentrate on customer needs? Why? After WWII. The balance shifted from the producers to the consumers to make more selective choices for the people. Business began to develop different brands and styles to make people feel better and have more choices. 4. What are the factors of production? How can economies grow when one or more of the factors is weak? There areShow MoreRelatedOrganizational Environment1529 Words   |  7 PagesOrganizational Environment: those forces outside its boundaries that can impact it. Forces can change over time and are made up of Opportunities and Threats. (7) The Organizational environment refers to the forces that can make an impact. Forces made up opportunities and threats. Organizations do not exist in isolation. It works with the overall environment. Scholars have divided these environmental factors into two main parts as. Internal Environment External Environment (8) c. Internal Environment Read MorePestle Analysis867 Words   |  4 Pagesenvironment that could affect its risk profile. It may help them carry out a more comprehensive analysis. The initials stand for: Political e.g. a new government initiative creates the risk that the school may fail to deliver the policy or be diverted away from local priorities etc. Economic e.g. central or local government funding decisions may affect school finances, closure of a local industry may affect fund raising plans etc. Social e.g. demographic changes may affect likely pupil rollsRead MoreEnviroment of Business1170 Words   |  5 PagesENVIRONMENT OF BUSINESS ASSIGNMENT Describe 6 Forces that Operation Managers go for or look out for in the Environment of their Businesses or Organizations. There are many forces that Operations managers go for or look for in their business environments. They Include: 1. Threat of New Entrants – The easier it is for new companies to enter the industry, the more cut-throat competition there will be. Factors that can limit the threat of new entrants are known as barriers to entryRead MoreOrganizational Environment1521 Words   |  7 PagesOrganizational Environment: those forces outside its boundaries that can impact it. Forces can change over time and are made up of Opportunities and Threats. (7) The Organizational environment refers to the forces that can make an impact. Forces made up opportunities and threats. Organizations do not exist in isolation. It works with the overall environment. Scholars have divided these environmental factors into two main parts as. Internal Environment External Environment (8) c. Internal EnvironmentRead MoreInternal And External Factors Affecting A Business Organization1365 Words   |  6 Pagesto evaluate the internal and external factors affecting a business organization. With this useful tool they are able to set future goals, define strategic plans and collect information about the social environment in which they operate. This strategic tool is classified by internal factors (Strengths and Weaknesses), means that the company has total control of it and external factors (Opportunities and Threats), the company cannot control it. Internal factors mean that the company has control overRead MoreBusiness Environment847 Words   |  4 Pages11/14/12 The Gemini Geek  » What Is Business Env ironment?  » Print What Is Business Environment? Meaning: - The term Business Environment is composed of two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business. The word Business in its economic sense means human activities like production, extraction or purchase or sales of goods that are performed for earning profits. On the other hand, the word ‘Environment’ refers to the aspectsRead MoreSocial Factors – Business Environment1481 Words   |  6 PagesSOCIAL FACTORS – BUSINESS ENVIRONMENT Introduction: The main factor that affects most business is the degree of competition – how fiercely other businesses compete with the products that another business makes. The other factors that can affect the business are: Social – how consumers, households and communities behave and their beliefs. Legal – the way in which legislation in society affects the business. Economic – how the economy affects a business in terms of taxation, government spendingRead MoreSocial Cultural Factors : The Basic Beliefs And Values Of Consumers Essay1667 Words   |  7 PagesSocial-cultural factors outlines the basic beliefs and values of consumers. It is the forces that influences an individual’s way of thinking, lifestyles and behaviors. Marketers must take into consideration the various characteristics of the consumers it is going to sell or target as this is vital in the development of marketing strategies, therefore, making the product or services appealing to customers. One important development is the changing and growth in racial and ethnicity, affecting the changes in cultureRead MoreAnalysis of the External Environment of Business 11419 Words   |  6 PagesEnvironment of Business In todays highly competitive market, businesses must be aware of the environment in which they operate and the external factors that influence them. These factors can affect the main internal factors of the business and its objectives or marketing strategies. The external environment is rarely stable and many of the external forces can change quickly and dramatically and are usually beyond a firms control. Although some external factors can pose a threat to a business, theyRead MoreManagement and Company1613 Words   |  7 PagesINTERNAL/EXTERNAL FACTORS Internal/External Factors Team B MGT 330 September 20, 2010 Joe Cheng Internal/External Factors Companies are being challenged every day with factors that affect their primary management functions. Globalization, technology, innovation, diversity, and ethics are just some of the factors companies are facing that can affect functions of management. Managers are trained to identify these factors and analyze how they will affect the functions of their