External factors affecting business
by Ministry of Economic Development - business.govt.nz on Feb 14, 2012
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Learn about external influences on a business.
Ask students what outside sources of pressure and influence could be applied to a business. Make a list of examples with the class. Ask students for an example of an ethical business and an unethical one, and start a discussion on how important it is for the students that businesses act in a socially responsible way.
Have students study the topic handout individually before forming into groups of four for the quiz. Each team only has a few moments to discuss the question and give an answer. Give points accordingly for good ideas. For question 3 (List THREE ways that ethical business operations benefit business), answers can include: Improved reputation, Highly motivated staff, Increased efficiency and productivity, and Reduced costs.
Ask students to use the topic handout and their own research to write a series of fictional newspaper articles on the three scenarios outlined in the worksheet: Dangerous supermarket produce, New restaurant with no disabled access, and Contaminating emissions.
External influencers in Business
It may look like businesses have complete autonomy in the decisions they make, but in reality there are a host of ‘external influencers’ putting pressure on them.
Customer demand and taste fundamentally guides what goods and services companies choose to provide.
Groups like Friends of the Earth and Greenpeace, for example, try to influence businesses that may have a negative influence on society and the environment.
The performance of competitors, and indeed the decisions they also make, can have great influence.
The government legislates to make sure businesses meet certain standards and forms of compliance, such as tax and minimum wage requirements.
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