813802
L1 Business Environment
- Things that govern the environment
- Financial
Nota:
- Credit availability, state of the economy, taxes, market size, exchange rates, interest rates, unemployment
- Physical
Nota:
- Resource availabilty, Transport, Buildings, Technology, R&D
- Rules
Nota:
- Legal and social norms
- Financial
- Cultural environment
- Anglo-Saxon countries
Nota:
- Less regulation, taxes, free trade, less public interference
- Social Markets
Nota:
- More social policies, state interference for justice. Worker rights.
- Asian markets
Nota:
- Firms left to do business but government guides them.
- Anglo-Saxon countries
- Carroll's pyramid of business responsibilities
- Economic-Required
- Legal-Required
- Ethical-Expected
- Philanthropic-Desired
- Economic-Required
- Stakeholders
- Suppliers
- Customers
- Employees
- Environment
- Society
- Shareholders
- Suppliers
- Business Philanthrophy
- For
Nota:
- - Morale Raiser - Another form of marketing - Corporate Philanthropy does not compromise economic objectives (Convergence of objectives)
- Against
Nota:
- Friedman's Neo-Classical posiion: -Business objective is solely for shareholders -Employees and Shareholders should donate themselves -Waste of money that does not help economic objective -Wage raises could be given instead
- Friedman------------------Stakeholder view
- Strategic philanthropy
- Strategic philanthropy
- For
- External Environment analysis
- PESTEL
Nota:
- -Political -Economic -Sociocultural -Technological -Environmental -Legal
- For
Nota:
- -Easy to understand -Overviews external environment -Encourages strategy -Foresee future threats/opportunities
- Against
Nota:
- - Too simple, environment is complex - Needs to be regularly updated - Requires lots of people to manage it - Data is difficult to collect -Overlapping factors - Subjective results
- NEEDLE model
Nota:
- Layers of activities: -Activities, Strategic, Organisational, Environmental
- PESTEL
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