Business Environmental Factors
Positive Impacts of Environmental Factors on Business
How does environmental factors on business have positive impacts? According to Thompson (2014) “Internal business environment includes factors within your organization that impact the approach and success of your operations. The external environment consists of a variety of factors outside the company doors that typically the company doesn’t much control over”. The most effective four factors that impact positively on the environment of business are economy, competition, technology and other common external factors.
The first positive impact of environmental factors on business refers to the economy. Anderson (2015)says that a business success is affected by the economic factor. For example,
…show more content…
According to Clark (2012) “One of the most critical external business factors is competition. Whether you operate in a concentrated industry with a few major competitors or a large industry with many competitors, you need to know the competition”. Any business cannot survive without customers. It is common all around the world that customers are looking for two common things in the market that are save and quality. Each business can rich the customers satisfaction if it provide what they want. But sometimes they lose their customers because of other businesses which are selling the same goods or services. This make the competition high in the market that each business will study its weaknesses and develop them or change them if needed. In addition of the research method that can make a business in the see to continue the market demand and provide it …show more content…
The Asian Market Review (2015) cites that legal, ethical and political factors are other external factors that can impact on business. In other words, the legal, ethical and political environmental factors are related to the social standards and the business rule. Moreover, the communities are different from a country to another and from a regain to another so the business should study the community before setting in a land. For example, in Islamic countries a business in selling meat is successful but that it is forbidden for Muslims to eat pork a business cannot sell pork or it’sproductive such as sausages and martedillas. So it is essential for the success of business to be aware of the needs of community and customers. Also, in some countries people are celebrating many festivals and memories so a business can insure to be ready by providing the items needed for the completion of the celebrations by making offers and
Fraser Foods Case Study Assignment
1475 Words | 6 PagesThe company could expand even more to increase their market share. They must keep communications open through their relationships to avoid miscommunication and confusion. References Karniel. A and Reich.
Disadvantages Of Enviropig
1337 Words | 6 PagesIntroduction: Genetically modified organisms can be defined as organisms in which the DNA has been changed in a way that does not occur naturally by any reproduction procedure. The enviropig is just one of many organisms that they did experiments on to modify it to have specific (needed) outcomes. The reason for genetic modification is to be able to change a product or organism so that it deliver desirable traits. The enviropig was created to solve the problem of pigs not being able to absorb enough phosphorous from their diet, which then in its turn contributes to the larger factor of pollution.
Porter's Five Forces Of Competitive Analysis: Vera Bradley
1068 Words | 5 PagesExternal Environment The Five Forces of Competitive Analysis The industry market is considering a large pool with significant of competitors competing with each other. The stronger the forces of competition, the harder it becomes for industry members to earn attractive profits. The ideal competitive environment for earning outstanding profits is when both suppliers and customers are in weak bargaining positions. Suppliers Bargaining Power Vera Bradley as a company that provides luggage and accessories industry gets raw material from many suppliers that have differentiated inputs.
Political Factors Affecting Adidas
1394 Words | 6 PagesPart A Macro environment is important factor affecting the development of enterprises. A macro environment is the condition that exists in the economy as a whole, rather than in a specific sector or region.(Macro Environment n.d.) Cultures, politics, technology, nature, economy and demographic are the six major forces in the company 's macro-environment.(Kotler & Armstrong 2014, p96） Political factors Political factors include government regulations and legal issues and define both formal and informal rules.(PEST Analysis n.d.) All the companies have to follow these rules.
The External Environment In The Airline Industry
1563 Words | 7 PagesExternal Environment Industry Analysis The goal of the industry analysis is to recognize the external environmental factors which have potential impact on the industry. The first part gives an idea about the airline industry profile. Airline industry, in the last decade, has been growing strongly at 7% per year for both through tourism and businesses divisions and is one of the most competitive, globally, contributing to economic growth, trade, investment and tourism.
Pepsico Political Factors
724 Words | 3 PagesPOLITICAL Political factors can often give a big impact on the business of a company. Often this factor is not in the hand of the organization. Several aspects of government policies can make a huge difference. However, all firls are required to follow the law. It is the responsibility of the organization to find how upcoming legislations can affect their activities.
Loreal Pestel Analysis
1016 Words | 5 PagesIt would aim at establishing a strong customer lifetime value. It would also search for new markets in other
Value Chain Analysis Of IBM
1674 Words | 7 PagesEnvironmental factors: Both consumers and governments penalize firms for having adverse effect on the environment. Few common environmental factors are waste disposal laws, environmental protection laws and popular attitude towards the environment. In environmental dimension, IBM made some of the major technologies like to trace the weather throughout the world, IBM made computers for NASA for astrology that made them to set the satellite, which monitor the environmental changes over the globe. IBM also added some of the revolutionary environment friendly strategies that not just provides environment saving factors, but also cost saving factors like
Macro Environmental Factors
774 Words | 4 PagesQ.1: What micro environmental factors have affected Target’s performance over the past few years? Over the past few years, following are the factors that have affected Target’s performance: 1. Competitors: Walmart’s strategy of providing products at a very low price, affected the consumers in the economic crisis of 2008. This led to Target’s decline in market share as Wal-Mart had a huge micro environment affect as a competitor.
Pestle Analysis Of Uniqlo
1510 Words | 7 PagesIntroduction Uniqlo is ranked as the 1st apparel brand in Japan (Fast retailing, 2014) and the 5th SPA (Specialty Store Retailer of Private Apparel) in the world (VFPress, 2012). The brand has demonstrated a strong development during the past years with around 818 stores worldwide, estimated at August 2015, (Fast retailing, 2014) and now, they are planning for an expansion to Vietnam market. This report will provide useful information which can be guidelines for Uniqlo’s strategy to enter a new market. The report covers four main parts: PESTLE analysis of Vietnam market; mode of entry suggestion; segments, targets and position process and 7Ps marketing mix. Question 1:
Four Building Blocks Of Competitive Advantage
1014 Words | 5 PagesSuperior quality and innovation are important to achieving superior customer responsiveness. The ability to satisfy the needs of your customers will allow for your company to stay ahead of your rivals. Customers will be more likely to choose a company if they feel like their voice or opinion is being heard. Another part of this building block is the customer response time. Customers want their products quickly, so ability to deliver the product or service at a quicker rate is important.
Environmental Influences An Organization Face
918 Words | 4 PagesDescribe three of the environmental influences an organization faces. Provide one example of each and describe how an organization is impacted, either positively or negatively, by each: There are five main external environment forces which can influence an organization (Ashim gupta, 2009). They are technology, competition, resources, consumers, and laws and regulations. I am going to discuss consumers, competition, and resources. The first environmental influence is customers.
Relationship Between Hospitality And Tourism Industry
1572 Words | 7 PagesCustomer loyalty is one of the most important and critical factors for a company's success. Customer loyalty happens when customers have a great experience, and it leads to many benefits: loyal customers return for future business, refer friends and family to a business, and spread positive comments about a company through word-of-mouth advertising. With social media and the ease of rating companies. There are several factors that can influence customer loyalty. First the place and product, which means how easy is it for customer to access the place, Second is promotion There are many ways to promote the business, from pricing specials to free gift with purchase.
Reflection On Globalization
731 Words | 3 PagesThe aim of this assessment is to reflect on what I have learned this semester regarding the module of Business in Global Context; from the lectures with the professor, the case studies done in class and the three previous patchworks that we worked on. We have learned that there are different internal and external components that affect the business environment, from corporate social responsibility to cultural and institutional framework; organizations must take into consideration all the factors related to the different parts of its environment. For the topic discussion, I will be discussing globalization and how it has affected the global business environment along with the key aspects and the different point of views regarding it.
Literature Review On Startup
984 Words | 4 PagesAt first these companies has incur lot of expenses in the form of business modelling, testing and marketing their concept. Since, these companies are very small and initially operated and financed either by an individual or by partners together thereby the companies face many challenges with limited resources availing with ample opportunities. Now, if we see
More about Business Environmental Factors
Fraser Foods Case Study Assignment
1475 Words | 6 PagesDisadvantages Of Enviropig
1337 Words | 6 PagesPorter's Five Forces Of Competitive Analysis: Vera Bradley
1068 Words | 5 PagesPolitical Factors Affecting Adidas
1394 Words | 6 PagesThe External Environment In The Airline Industry
1563 Words | 7 PagesPepsico Political Factors
724 Words | 3 PagesLoreal Pestel Analysis
1016 Words | 5 PagesValue Chain Analysis Of IBM
1674 Words | 7 PagesMacro Environmental Factors
774 Words | 4 PagesPestle Analysis Of Uniqlo
1510 Words | 7 PagesFour Building Blocks Of Competitive Advantage
1014 Words | 5 PagesEnvironmental Influences An Organization Face
918 Words | 4 PagesRelationship Between Hospitality And Tourism Industry
1572 Words | 7 PagesReflection On Globalization
731 Words | 3 PagesLiterature Review On Startup
984 Words | 4 Pages