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The Business Environment
The Business Environment
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The Business Environment

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  • 1. Business Environment Lecturer: Anthony Williamson Email: anthonylwilliamson@yahoo.com
  • 2. Course Contents
    • Internal & external environments
    • Demographics
    • Resources
    • Organizational structures
    • Markets
    • Internationalisation
    • E-business
    • Ethics
  • 3. Chapter 1 Business Organizations: The External Environment
  • 4. Figure 1.1 The business organisation as a transformation system
  • 5. Figure 1.2 The firm in its environment
  • 6. Figure 1.3 Two levels of environment
  • 7. Chapter 2 Business Organizations: The Internal Environment
  • 8. Human Resource Management
    • Recruitment & selection
    • Working conditions
    • Training & career development
    • Job evaluation
    • Employee relations
    • Manpower planning
    • Legal aspects of employment
  • 9. Figure 2.2 A functional organisation structure
  • 10. Figure 2.3 A product-based structure
  • 11. Figure 2.4 A divisional structure
  • 12. Figure 2.5 A matrix structure in a business school
  • 13. Chapter 3 The Political Environment
  • 14. Figure 3.1 Representative democracy
  • 15. Figure 3.2 Government and its environment
  • 16. Figure 3.3 The elected government at Westminster
  • 17. Figure 3.4 The local government system
  • 18. Chapter 4 The Macroeconomic Environment
  • 19. Figure 4.1 The market economy
  • 20. Figure 4.2 Politico-economic systems
  • 21. Figure 4.3 ‘Real flows’ in the economy
  • 22. Figure 4.4 Income flows in the economy
  • 23. Figure 4.5 A simplified model of real flows and income flows
  • 24. Figure 4.6 The circular flow of income with ‘leakages’
  • 25. Figure 4.7 The circular flow of income with ‘injections’ added
  • 26. Figure 4.8 The allocation of UK government spending, 2005/6 Source: Adapted from Budget Statement, 2005
  • 27. Figure 4.9 Sources of government revenue, 2005/6 Source: Adapted from Budget Statement, 2005
  • 28. Chapter 5 The demographic, social and cultural context of business
  • 29. Demographics
    • Population size
    • Characteristics
    • Social influences
  • 30. What business function is most concerned with demographics ?
    • Marketing
    • Marketing is concerned with adge, gender and geographical distribution
  • 31. Issue facing many European countries
    • Ageing Population
    • Better diet
    • Improved healthcare
    • Fall in birth rates (smaller families)
    • -many countries need migrant workers to fill jobs
  • 32. Table 5.1 Population size in selected countries, 2003 Source: Various (including Eurostat)
  • 33. Table 5.3 Percentage of EU populations aged 65 and over for selected EU countries, 1970–2003 Source: Adapted from Eurostat
  • 34. Social class
    • Population can be segmented based on social class
  • 35. Table 5.4 The ABC1 system of social grading
  • 36.
    • Some people can have the same social class but different ‘Lifestyles’
  • 37. Other social influences
    • Influence
    • Attitudes
    • Values
    • opinons
  • 38. Table 5.5 National Statistics Socio-Economic Classifications (NS-SEC) Source: Office of National Statistics
  • 39. Table 5.8 Methods of segmenting consumer markets
  • 40. Table 5.9 Projected growth rates between 2000 and 2050, percentages Source: World Population Prospects , United Nations, 2000
  • 41. Figure 5.1 Projected fertility rates between 1950 and 2050 Source: United Nations, 2000
  • 42. Figure 5.2 Projected life expectancy between 1950 and 2050 Source: United Nations, 2000
  • 43. Trends
    • Healthy eating
    • Exercise
  • 44. Reference Groups
    • Primary – family/friends
    • Secondary – social clubs/ religious organizations
    • ‘ Family life cycle’
    • Different needs depending on age and current situation.
  • 45. What is culture ?
    • Sub cultures
    • Cultural diversity
    • Multiculturalism
  • 46. Table 5.10 Expenditure on selected products by age of head of household, UK, 2002, £ per week Source: Adapted from www.statistics.gov.uk/CC1/SearchRes.asp?tem=household+expenditure+age
  • 47. Chapter 6 The Resource Context
  • 48. Different kinds of resources
    • Renewable- labour, water, air, solar power
    • Non-renewable – minerals, coal, oil
  • 49. People (human resource)
    • People can be said to be either producers or consumers
    • Quantity – population size / age
    • Quality – education/ training/ motivation
  • 50.
    • Workforce- no. of people eligible for work
    • Working week – hours/days
    • Wages- remunerations (UK min. wage 5.05 p/h)
  • 51. Trade Unions
    • ‘ To protect individually weak members (collectively much stronger)’
    • Craft unions-craft/skill
    • Industrial unions-NUM
    • General unions-TGWU
    • White collar unions-NUT
  • 52. Powerful unions
    • ‘ If the union is very powerful and demands increased wage rates then this couls lead to unemployment’
  • 53. Immobility
    • ‘ Workers unable to locate to areas where there are jobs’
    • Geographical-don’t want to move from family
    • Occupational- don’t have the training/natural ability (e.g. doctors/footballers)
  • 54. Table 6.3 Average hours worked per week* by gender for selected EU countires, 2003 Source: Eurostat, 2005
  • 55. Figure 6.1 The market for labour
  • 56. Figure 6.2 The effect of trade unions on the labour market
  • 57. Figure 6.3 Occupational structure of UK workforce by gender, 2004 Source: Adapted from Table 4.11, Social Trends , 2005, ONS, UK
  • 58. Chapter 7 The Legal Environment
  • 59. UK Law
    • Public – State laws
    • Private - Individuals
  • 60. Tort
    • Duty to others – negligence/ nuisance / defamation / trespass
  • 61. Common Law
    • Based on traditional behaviour
    • English legal system is based on judicial precedence and legislation (rules made by Parliament)
  • 62. Contract Law
    • Offer
    • Invitation to Treat (advertisements etc.)
    • Acceptance
    • *Offer and Acceptance = Agreement Consideration (profit)
  • 63. Consumer Protection Laws
    • Please read & understand the consumer protection laws;
    • Trade Descriptions Act (1968)
    • The Consumer Credit Act (1974)
    • Sale of Goods Act (1979)
    • Consumer Protection Act (1987)
  • 64. Figure 7.1 The hierarchy of courts
  • 65. Table 7.1 Law and the business organisation
  • 66. Chapter 8 Legal Structures
  • 67. How to classify business organisations
    • Size
    • Type of industry
    • Sector (public / private)
    • Legal status (sole trader/ ltd. Co./ partnership
  • 68. Private Sector Organisations
  • 69. Sole Trader
    • Business owned by one individual
    • Unlimited personal liability
  • 70. Partnership
    • ‘ Persons carrying on a business in common with a view to making profit
    • Partners have unlimited personal liability
  • 71. Limited Companies
    • Company has a legal identity in its own right
    • Property and other assets belong to the company
    • Personal assets of shareholders do not belong to the company
    • Individual liability equals the amount invested in the company
    • Companies must be registered under the Companies Act
  • 72. 2 kinds of limited company:
    • Public Ltd. Co.
    • Private Ltd. Co.
  • 73. Public Limited Company (PLC)
    • Minimum of 2 shareholders
    • At least 2 directors
    • 50,000 UK pounds share capital
    • Offer shares for sale to the general public
    • Certificate from the Registrar of Companies
    • Memorandum stating it to be a public company
  • 74. Private Limited Company (Ltd)
    • Shares cannot be offered to the general public
    • Therefore usually small or medium sized
  • 75. Co-operatives
    • Belong to its members
    • Profits should benefit members
    • Shares not quoted on the Stock Exchange
  • 76. Workers’ co-operatives
    • Business in which the ownership and control of assets are in the hands of the people working in it.
    • At least 7 members required to form a co-operative
    • Democracy, open membership, social responsibility, mutual co-operation, trust
  • 77. Public Sector Organisations
  • 78.
    • Central government departments (DTI)
    • Local authorities (county councils)
    • Public corporations & nationalised industries (BBC)
  • 79. Privatisation
    • 1980’s many public corporations were privatised;
    • British Coal
    • British Rail
    • British Telecom
    • British Energy
  • 80. Legal structure: implications
    • The degree of personal liability
    • Willingness to share decision-making
    • Costs of establishing the business
    • Legal requirements
    • Taxation
    • Commercial needs (access to capital)
    • Business continuity
  • 81. Table 8.1 Organisational stakeholders and their interests
  • 82. Franchising
    • Buy the right to market a product or service
    • Business format franchise e.g. Starbucks, KFC, McDonalds
  • 83. Why buy a franchise ?
  • 84. Licensing
    • Intellectual property
    • E.g. patents, copyrights, trade names
  • 85. Joint Ventures
    • Business involving more than 1 organisation
    • Many foreign co.’s entered China as a JV
  • 86. Chapter 9 Size Structure of Firms
  • 87. How to measure the size of an organisation
    • Turnover
    • Value of outputs
    • Capital employed
    • Level of employment
  • 88. Table 9.1 The ten largest companies in the UK, 2004 Source: Key British Enterprises , 2005
  • 89. Why do organisations grow ?
    • Managerial objectives (security, higher remuneration)
    • Maintain market share in expanding markets
    • Economies of scale
    • Defensive strategy against competitors
  • 90. Table 9.2 Size structure of UK industry by employment, 2003 Source: Adapted from Table 1, www.sbs.gov.uk/content/analytical/statistics/'UK Industry Summary'!A1
  • 91. Methods of growth
    • Internal growth
    • e.g. expand product lines
    • External growth
    • e.g. takeovers or mergers
  • 92. Mergers
    • Horizontal merger
    • 2 organisations at the same stage in a
    • production process
    • Vertical merger
    • 2 organisations at different stages of the
    • same production process (backwards or
    • (forwards)
    • Conglomerate mergers
    • 2 organisations involved in producing different
    • products or services
  • 93. Finance for growth
    • Internal – profits
    • External – banks, capital market (stock exchange), money markets, governments
  • 94. Types of Stocks & Shares
    • Preference shares
    • Ordinary shares
    • Debentures
  • 95. Networking
    • Relationships between organisations and people within them (formal or informal)
  • 96. Figure 9.5 A typical network
  • 97. Multinationals
    • Operate in more than 1 country
    • Examples ?
    • UK
    • European
    • US
    • Chinese
  • 98. Chapter 10 Industrial Structure
  • 99. The Standard Industrial Classification
    • Classifies industries into different sectors
    • Each general sector is then sub-divided into more specific sectors
    • (See Table 10.1 pg. 265)
  • 100. Figure 10.2 A simplified production process
  • 101. The Structure of Industry is not static
    • The development of new products (e.g. computer games)
    • New patterns of demand (e.g. declining and emerging industries)
    • Changes in society (e.g. UK moving away from production based industry to service industries)
  • 102. Figure 10.3 Percentage shares in employment in the three main sectors of the EU, 1979 and 2004* Source: Adapted from Table 2, Eurostat Yearbook , 2004
  • 103. Figure 10.4 Employment by sector in the EU as a whole, 1980–2004* Source: Eurostat Yearbook , 2004. © European Communities. Eurostat. Reproduced by permission of the Publishers, the Office for Official Publications of the European Communities
  • 104. Table 10.4 Percentage employed in different sectors of selected countries, 2004 Source: Eurostat Yearbook , 2004. © European Communities. Eurostat. Reproduced by permission of the Publishers, the Office for Official Publications of the European Communities
  • 105. Figure 10.5 Index of employment in manufacturing industry in selected countries (1995 = 100) Source: Yearbook of Labour Statistics , 2004, OECD How do you interpret this data?
  • 106. Table 10.7 Percentage share of total employment of primary, secondary and tertiary sectors (UK), 1969–2004 Source: Adapted from Table 7.5, Annual Abstract of Statistics , 2005, ONS, UK What can we tell from these figures?
  • 107. Figure 10.6 Percentage share of total employment of the secondary and tertiary sectors of the UK economy Source: Adapted from Table 7.5, Annual Abstract of Statistics , various editions, ONS, UK
  • 108. The Life Cycle Model
    • Can be applied to products, industries, sectors, markets
  • 109. Figure 10.8 A life cycle
  • 110. Table 10.9 Implications of the different stages of the life cycle
  • 111.
    • A product or industry may not go through all of the stages
    • Length of each stage will vary according to product or industry
    • An industry or product saturated in the one geographical location may be able to extend its life by expanding into other countries
  • 112. Causes of Changes in Industrial Structure
    • Demand factors – changes in patterns of demand (fashion / tastes)
    • Supply factors – changes in supply conditions (e.g. increased price of oil leads to development in new technologies)
  • 113. Figure 10.9 Expenditure on selected goods in the UK, 1983–2003 Source: Adapted from Table 6.15, Annual Abstract of Statistics , 2004, ONS, UK
  • 114. Figure 10.10 Expenditure on services in the UK, 1983–2003 Source: Adapted from Table 6.15, Annual Abstract of Statistics , 2004, ONS, UK
  • 115. Deindustrialisation
    • Decline in manufacturing
  • 116. Table 10.10 Output per person employed, selected countries, 2002 (UK = 100) Source: Adapted from Table 1, www.statistics.gov.uk/cci/article.asp?ID=737
  • 117. Table 10.11 Comparative output per hour worked, selected countries, 2002 Source: Adapted from Table 2 , www.statistics.gov.uk/cci/article.asp?ID=737
  • 118. Chapter 11 Government & Business
  • 119.
    • If left entirely to their own devices markets can act in a way that is not always economically or socially desirable - ‘Market Failure’
  • 120. Main concerns include;
    • Public goods – defence, social services
    • Merit goods – libraries, education
    • Externalities – pollution
    • Danger of monopolies
    • Under-utilisation of economic resources
    • Output determined and distributed on the ability to pay
  • 121. How can governments respond to these problems?
    • Public ownership
    • Legislation
    • Fiscal regulation
  • 122. Regional Policy
    • Many countries have a regional policy
    • Designed to help areas with economic or social problems
  • 123. UK Urban ‘problem’
    • Large scale unemployment
    • Loss of industry
    • Riots during the 1980’s in several large cities
  • 124. The Urban Programme
    • Combat the economic, social and environmental problems of urban areas
    • 1. Bring land and buildings into effective use
    • 2. Encourage development of industry and commerce
    • 3. Provide housing and other social facilities
  • 125. Chapter 12 The Market System
  • 126. ‘ The market system is an economy in which all the basic economic choices are made through the market.’
    • The market is a place where buyers & sellers of a product are brought together
    • There are many different kinds of market involving different buyers and sellers
    • A free market system is one in which the basic economic choices are made through the market
  • 127. The Market Mechanism
    • The way in which buyers and sellers are brought together
  • 128. Demand
    • The quantity of a good or service that households are willing and able to purchase at a particular price (effective demand)
  • 129. Demand depends on;
    • Price of the good
    • Prices of other goods (substitutes or compliments)
    • Disposable income
    • Tastes
  • 130. Table 12.1 The demand for ‘Real Brew’ draught beer
  • 131. Figure 12.1 A demand curve for ‘Real Brew’ draught beer
  • 132. Figure 12.2 Shifting demand curves
  • 133. Supply
    • The quantity that firms are willing and able to supply to the market at a particular price (effective supply)
  • 134. The quantity supplied depends on;
    • The price of the good
    • The prices of other goods
    • The prices of the resources used to produce the good
    • Technology
    • Expectations
    • Number of suppliers
  • 135. Table 12.2 The supply of ‘Real Brew’ draught beer
  • 136. Figure 12.3 The supply of ‘Real Brew’ draught beer
  • 137. Figure 12.4 Shifting supply curves
  • 138. The equilibrium price
    • The amount which consumers wish to buy is the same as the amount that producers wish to sell
    • Point where the demand and supply curves cross (equilibrium price & equilibrium quantity)
  • 139.
    • Excess supply = buyers market
    • Excess demand = sellers market
  • 140. Table 12.3 The supply and demand for ‘Real Brew’ draught beer
  • 141. Figure 12.5 The market for ‘Real Brew’ draught beer
  • 142. Figure 12.6 A shift in the demand curve
  • 143. Figure 12.7 A shift in the supply curve
  • 144. Figure 12.8a The normal working of the market
  • 145. Figure 12.8b A reduction in supply
  • 146. Figure 12.8c Increases in demand
  • 147. Price controls
    • Occasionally governments decide that a particular equilibrium price is politically, socially or economically unacceptable
    • Impose their own prices;
    • Price ceiling
    • Price floor
  • 148. Figure 12.9 Imposition of a price ceiling
  • 149. Figure 12.10 Imposition of a price floor
  • 150. Figure 12.11 The effect of taxation on the market
  • 151. Elasticity of demand
    • Measures responsiveness of demand and supply to price changes
  • 152. Measuring Price Elasticity
    • EP = %change QD
    • % change P
    • If > 1 elastic (responsive to price changes)
    • If < 1 inelastic (not very responsive to price changes)
  • 153. Figure 12.12 Responsiveness of demand to a price change
  • 154. Table 12.4 Elasticity and total revenue
  • 155. Other Elasticity's
    • Income elasticity of demand
    • Cross-price elasticity of demand
  • 156. Table 12.5 Income elasticity and total expenditure
  • 157. Figure 12.13 Responsiveness of supply to a price change
  • 158. The Importance of the Market
    • The nature of the good they produce
    • The way in which it is viewed by consumers
    • The factors that affect demand
    • Any changes in the future that will affect the market
    • Any likely government intervention in the market
  • 159. Chapter 13 Market Structure
  • 160. Market Structure
    • Market structure refers to the amount of competition that exists in a market between producers.
    • Perfect competition Monopoly
  • 161. Table 13.1 Structure–conduct–performance model
  • 162. Perfect competition
    • So many sellers and buyers that not one of them can influence price
    • The good sold is homogeneous (identical)
    • Perfect knowledge exists (prices and costs)
    • Perfect mobility exists
    • No barriers to entry or exit
  • 163. Figure 13.1 Market structures
  • 164. Table 13.2 Implications of perfect competition for conduct and performance of firms in an industry
  • 165. Monopoly
    • No competition
    • One single producer
    • Can also be a group of producers acting together to control supply (OPEC)
  • 166. Table 13.3 Implications of monopoly for the conduct and performance of firms in an industry
  • 167. Comparisons of Monopoly & Perfect Competition
    • Prices higher under a monopoly
    • Monopolies usually offer less choice
  • 168. Oligopoly
    • ‘ A small number of producers supply a product’
    • There is interdependence between the firms
    • Lack of price competition in the market
    • Non-price competition (branding / advertising)
  • 169. Table 13.4 Implications of oligopoly for conduct and performance of firms in an industry
  • 170. Table 13.7 Implications of monopolistic competition for the conduct and performance of firms in an industry
  • 171. Table 13.8 Implications of theory for behaviour of firms
  • 172. Porter’s Five Forces
    • Current competition
    • Potential competition (threat of new entry)
    • Threat of substitute products
    • Power of buyers
    • Power of suppliers
  • 173. Chapter 14 International Markets & Globalisation
  • 174.
    • International trade takes place because resources are unevenly distributed throughout the world.
    • Some countries are better at producing certain goods than others.
    • Some countries cannot produce certain goods
  • 175. Example of specialization
  • 176. Table 14.1 Production of video cameras and wheat
  • 177. Table 14.2 Production of video cameras and wheat
  • 178. Table 14.3 Production of video cameras and wheat
  • 179. Restrictions to International trade
    • Quotas
    • Tariffs
    • Exchange controls (limit amount of currency)
    • Subsidies (payments to domestic producers)
    • Qualitative controls
  • 180. Balance of payments
    • A record of a country’s international trade usually over a 1 year period
  • 181. Table 14.4 UK balance of payments, 2004 (£m) Source: Adapted from www.statistics.gov.uk/statbase/tsdatset/asp?vlink=209&more=Y
  • 182. Table 14.6 UK’s imports and exports of goods by destination/source (%) Source: Adapted from Tables 19.5, 19.6, Annual Abstract of Statistics, various, ONS, UK
  • 183. Table 14.7 Pattern of trade by type of good (%) Source: Adapted from Tables 19.4, 19.3, Annual Abstract of Statistics, various, ONS, UK
  • 184. Exchange rates
    • ‘ The price of a currency in terms of other currencies’
  • 185. 2 types of exchange rate;
    • Floating exchange rate
    • Fixed exchange rate
  • 186. Floating exchange rate
    • Determined within a free market
    • No government intervention
    • Exchange rate is free to fluctuate according to market conditions
    • Exchange rate is determined by supply and demand
  • 187. Demand and supply is determined by
    • Changes in the balance of payments
    • Changes in investment flows
    • Speculation in the foreign exchange markets
  • 188. Figure 14.3 The determination of the exchange rate of £ for $
  • 189. Figure 14.4 The effect of changes in the balance of payments on the exchange rate
  • 190. Figure 14.5 The effect of changes in the investment flows on the exchange rate
  • 191. Figure 14.6 The effect of depreciation
  • 192. Figure 14.8 The effect of changes in the balance of payments on a fixed exchange rate
  • 193. Figure 14.10 Exchange rate of the euro with sterling Source: Adapted from www.bankofengland.co.uk/links/setframe.html
  • 194. Fixed exchange rate
    • Fixed & maintained by government
    • Less uncertainty about the future
  • 195. Globalisation
    • ‘ Integration of markets & production on a worldwide scale’
  • 196. Advantages
    • Increased globalization leads to increased specialization
    • Countries open to international trade have experienced much faster growth
    • Barriers to trade encourage inefficient and uncompetitive industries
    • All companies can benefit not only MNC’s
  • 197. Disadvantages
    • Benefits not shared equally throughout the world
    • Undermines the power of nation states
    • WTO and IMF are not democratically elected
    • Policies only aimed at trade
  • 198. Table 14.10 The world’s ten largest non-financial MNEs, ranked by foreign assets, 2002 Source: World Investment Report, UNCTAD, 2004
  • 199. Chapter 15
    • Government & Markets
  • 200. Privatisation policy
    • ‘ The transfer of assets or economic activity from the public sector to the private sector’
  • 201.
    • ‘ The Conservative government under Thatcher (1979-1990) believed that the free market was a superior method of allocating economic resources and that large scale state involvement in business hampered economic progress’
  • 202. Arguments for privatisation
    • Improve efficiency & general performance
    • Increased competition
    • Broader customer choice
    • Improved performance of management & workers
    • Employees offered shares to give them a vested interest in the organisation
  • 203. Criticisms of privatisation
    • Disposing of important national assets for short term financial gain
    • Overseas buyers could control important parts of the UK’s industry
    • Commercial goals allowed to displace broader economic goals (closure of unprofitable services)
  • 204. Competition Policy
    • ‘ Concerned with regulating market behaviour and controlling potential abuses of market power by firms’ – use legislation e.g. Monopolies and Mergers commission and the Competition Act (1998)
    • See pg.’s 419-420 for examples
  • 205. Government & the labour market
    • Conservative government sought to curb trade union powers through legislation;
    • The employment act (1980, 1982, 1990)
    • The trade union act (1984)
    • Trade union & labour relations Act (1992)
    • The trade union reform & employment rights act (1993)
  • 206. Chapter 16 The Technological Environment: e-business
  • 207. E-business
    • ‘ E-business generally means doing business over the Internet’
    • ‘ The exchange of products, services or information, whether paid or unpaid, across electronic networks, at any stage within the value system’
  • 208. E-commerce
    • ‘ Process of electronic transactions involved in the exchange of products, services and information between buyer & seller’
  • 209. Figure 16.1 The value system
  • 210. Table 16.1 Broad spectrum of e-business applications Source: Adapted from OECD, 2000
  • 211. Mini Case – Dell Computers
    • Read the mini case, and in small groups discuss the questions
  • 212. Look at Case Study; Amazon.com
    • HOMEWORK
  • 213. Chapter 17
    • Corporate responsibility & the environment
  • 214. Corporate Social Responsibility
    • ‘ A corporation should be held accountable for any of its actions that affect people, their communities and the environment’
  • 215. How should business interact with the environment
    • Have to balance business needs and environmental concerns
  • 216. Stakeholder theory
    • Stakeholders are all groups affected by a corporations decisions, policies & operations
    • Traditionally shareholders, customers & employees
    • Nowadays its argued that stakeholders should include society and the environment
  • 217. Environmental Management
    • Reconcile economic growth with greater environmental protection
    • The environment is now on the political agenda
  • 218. Business responses to environmental concerns
    • Social obligation (re-active strategy)
    • Social responsibility (goes beyond legal requirements)
    • Social responsiveness (pro-active strategy)
  • 219. Methods of encouraging environmental concern within businesses
    • Overnment intervention
    • Market mechanisms
    • External pressures (Greenpeace)
    • Self-regulation
  • 220. Benefits to business
    • Efficiency of factor inputs
    • Improved market image (e.g. The Bodyshop)
    • Providing new market niches (organic foods)
    • Proactive legislation compliance
  • 221. Chapter 18 Monitoring Change
  • 222. Analysing the business environment
    • SWOT
    • PESTLE
    • Porters five forces
  • 223. Figure 18.1 The strategic management process
  • 224. Table 18.1 Locating a car plant: a PESTLE approach
  • 225. Figure 18.2 A simple cross-impact matrix
  • 226. Figure 18.3 A SWOT matrix

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