CHECK THESE SAMPLES OF Legal, Social, and Economic Environments of Business
...?BUSINESS ENVIRONMENTS Question Introduction Scenario planning which is also referred to as scenario analysis or thinking is a process through which companies lay strategic plans in order to survive in the competitive business environment. Hanafizadeh, Kazazi and Azam (2011) assert that in scenario planning, various scenarios are considered in the decisions of company management which involves making long term plans for the organization. Managers consider laying plans which are flexible enough to enable the company to adapt to the changes in the legal, economic, political, social cultural and environmental scenarios...
14 Pages(3500 words)Essay
...?The airline industry as a whole and its profitability has always been affected by external political, economic and legal factors which are out theircontrol. Ever since the governmental deregulation of the airline industry in 1978, the level competition and price gauging among airline competitors have brought about a level of competitiveness not seen before in the industry. The level of stiff competition coupled with increasing fuel and operational costs brought about the demise of many major airlines. The health of the global economy and the fuel oil prices are two of the external factors that most affect the operations of any airline (Plunkett Research, 2010). U.S. Airways Group faces considerable...
2 Pages(500 words)Essay
..., the country GNI per capita is about $23,315 according to 2012 economic index. Oman also has a very strong monetary policy, which has kept its inflation rates to less than 3.5%. The country also has a favorable fiscal programme that has ensured that duty on products is kept low, no personal income tax charged, as well as establishing a moderate corporate tax to encourage investment (Oxford Business Group 2009, p.9). Social environment The social environment of a country also influences the operation of a business. The social environment consists of the social factors...
6 Pages(1500 words)Term Paper
...?Business Environment s Table of content Introduction………………………………………………………………………… 3 How economic systems attempt to effectively Distribute resources……………………………………………………………….. 4 Impacts of high taxes and high interest rates for employees And borrowing of businesses……………………………………………………… 5 Impact of competition policy and other regulatory mechanism……………………..6 How prices and output are determined in perfect competition………………………7 How market forces shape organizational response………………………………….8 How cultural environment shape behavior of organizations………………………...8 The significance of international trade to UK organizations…………………………8 The impact of global factors...
9 Pages(2250 words)Essay
...1 Impact of the Economic, Legal, Political,Technical,International and Social Environment on Administration In May 2005, President Bush signed into law, the new Bankruptcy legislation. On the surface the law was created to prevent filings from those who had flagrantly abused their credit privileges and also capture those who would file claims on whim and caprice. The legislation was widely criticized; bankruptcy lawyers, consumer groups and even some financial experts decried the legislation as a punitive measure. Of course the noted criticism emanated from sectors commonly viewed as having a vested interest in a liberal policy, so their protests went unheeded. The law is...
4 Pages(1000 words)Essay
... Weak Legal Environments in Asia
Many countries of Asia and other developing markets suffered because of weak legal environments and poor governance systems1. Countries with weak legal protections suffered greater exchange rate depreciation and this led to severe stock market declines during the crisis. During the crisis when the managers have more control rights than ownership rights, the firm’s perform poorly. Many Asian countries suffered during the 1997 Asian financial crisis but South Korea has come closes to seeing history repeat itself. The government is not willing to accept that they are in the midst of another financial crisis and they...
5 Pages(1250 words)Essay
...Technology has pervaded every aspect of business and organizations too use technology to overcome and respond to the challenges posed by the internaland external business environment. To remain competitive, firms have to create some point of differentiation from its competitors.
Internal environment
Learning has to take place in an organization but the internal pressures are such that can undermine the effects of learning and innovation. When technology was introduced in the organization there was resistance to change. People develop certain mindsets and get stuck. They are unwilling to unlearn previous assumptions and in this situation mangers are reluctant to foster...
6 Pages(1500 words)Essay
...Enterprise Risk Management: Economic And Competitive Environments
1. Introduction
As today’s economic and competitive environments become more complex in multiple industries, companies face ongoing risks to profitability, marketing, information systems security and many other imperative business functions. Risks are identified as any scenario that can cause detriment to achieving organisational goals dictated by strategic leadership that erode competitiveness or represent threat to financial stability. Many organisations have developed some form of risk management approach, however there is a modernised approach to achieving risk mitigation known as...
12 Pages(3000 words)Literature review
...to contribute to economic growth, as well as foster, social development through the various projects. Through the economic role the company plays, the people are able to benefit from a more stable economic and this indirectly improves their standard of living.
This is a perfect example of sound business practice. A company must be able to support its community, for whom it may not have existed. A business should act as a good citizen. It should acknowledge a country as its own in order to have the spirit of giving back and contributing to the welfare of the country.
De Beers for decades had been a monopolistic company, which regulated...
5 Pages(1250 words)Essay
...Global Economic Environments College: Global Economic Environments Big US Refrigerator Corporation is a renown company in the country for some decades. It has been making different electronics and in this year, the company has come up with something of its kind. The company has invented a new model of refrigerator that it plans to launch within the next few months. In addition, this model is far much better than the previous model since there have been some additional features fixed in it. The refrigerator comes in different sizes just like the previous model to suit individual needs. As the designers were designing this new product, they also considered companies that make use of refrigerators. This is to mean that our products... ...
2 Pages(500 words)Essay
