Some of the very important factors are: Government stability effects businesses in a great range by competing with businesses to lower their costs, transparency is another important factor where anything the business does is revealed to the government and the government know exactly what they are up to. Economic policy of government on businesses is also a very essential factor that effects businesses for example, government sets up rules and frameworks according to which the businesses compete with one and another, so from time to time government changes these rules which forces the businesses to change the way of their set ups. There are also beneficial political factors that help businesses in various ways, these factors can be defined as apprenticeships and funding of schools and colleges which will enhance the skills of the population that will affect McDonalds in having more skilled workers to work for them which will
The corporation has a strong internal environment that makes it succeed in its business venture, which shuns away other players while maintaining both profitability and competitiveness. Its main competitors include Regis Slaons, Macy’s, and Sephora. In this regard, this paper seeks to analyse the company’s potential by scrutinising the internal environment, corporate resources, competence, and other attributes that depict its strength and weaknesses in under the SWOT analysis. Internal Environmental Analysis The company has adopted various measures that enhance its competitive nature embracing different procedures and policies. It has also improved the management department by providing suitable measures that define goals and objectives of the company for it to attain increased returns (Fukuoka et al., 2012).
Their interest is to see the profit they make increasing and the value that the business has rising. Like other stakeholders they want to business to have a good reputation and to grow. Pressure groups the business on making decisions which help defend the environment e.g. Green peace and friends of the world. Environment concerns are important for pressure groups so they try brought onto the business and also protest against the businesses.
Birthed by Congress, (OSHA) Occupational Safety and Health Administration is to guarantee ‘safe and healthful working conditions for working men and women by setting and enforcing standards and by providing training, outreach, education and assistance.’ (osha.gov) OSHA has been known to attack the core issues that can financially disable a company’s growth and production, altering the outlook anywhere from a small business to a large corporation.The OSHA mission is designed to awaken and correct issues; however, the affects it has from a small business to a corporation can redefine the outlook and intent. OSHA brings much value to small businesses; for instance, it is able to provide On-Site Consultation that can directly impact the individual workforce, management, and the company as a whole. This consultation brings no citations nor are penalties projected. It promises confidentiality of names and firm names and the actual conditions (health and safety) are not reported, only obligated and encouraged to rectify. From an individual
EST1 Task 310.2.1-05: Ethical Situations in Business Western Governors University February 2, 2013 EST1 Task 310.2.1-05: Ethical Situations in Business Companies have four levels of social responsibility: 1) economic, 2) legal, 3) ethical, and 4) philanthropic. A company has to balance its duty to shareholders to make a profit with its contract with society to make socially responsible decisions. In order to increase profit, a company must understand the needs of the stakeholders and develop a coordinated plan which establishes standards within the company that can be understood and accepted by all employees; as well as supporting the needs of the community it serves. Company Q has supported the need to improve profit by closing two unprofitable stores. However, an analysis should be made regarding the need to close those stores.
BMA1 – Task 304.1.3-04 Steve Perryman Western Governors University Social responsibility is a concept that many businesses take seriously because it has a direct effect on the consumer’s perception of the company and the bottom line profitability of the company. Social responsibility is the company’s obligation to maximize its positive impact and to minimize any negative impact in a community and its consumers. There are four aspects of social responsibility: Economic, Legal, Ethical, and Philanthropic. There are many examples of companies like Whole Foods, Coca-Cola, and PNC Financial Group who go above and beyond these four aspects of social responsibility. Company Q in the scenario provided has a very poor attitude towards social responsibility because though they provide some basic aspects like Economic and Legal they fall short in Ethical and Philanthropic aspects.
Competitors – they will be only interested if the Business means “ASDA” is not doing so well as this will mean more business for them , because they are offering the same services within the same area. They can use the financial statement of “ASDA” as a “bench mark” for their own performance. Owners- they are the most important stakeholders, because they have established the business and they devoted a lot of their time for the company success. They are the stakeholders, who have the higher interest for the business to raise on profit and value. Employees and Managers- their interest is that the company provides them with decent live hood.
To see these benefits, the focus needs to remain on benefiting the community at large and meeting the needs of each individual location. Crime can be reduced within the store by helping provide for the community and offering opportunities to help people work their way off the streets. Consumer spending can be increased by meeting the demands of the area while helping those who cannot afford to spend money on the goods the company sells. Any company would be wise to remember that quite often it is the poor who succeed later in life and become a company’s biggest investors. A focus on those in need is something that helps a company’s reputation for years to come, boosting profits in both the poorest neighborhoods and the wealthiest.
ALL WK 1, DQ’s: WK 1, DQ 1: What is a business’s obligation to build an ethical culture and balance its desire for profit with ethical responsibilities to employees, customers, society, and the environment? Ethics is different from one person to the next, so it is imperative that business clearly define the norm for staff members and management. The decisions organizations make influence more than business partners, affiliates, culture, and others. It is important for organizations center of attention on maximizing shareholder revenue. Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations.
Running head: THE BUSINESS ENVIRONMENT 1 The Business Environment Annette Clark Dr Carolyn Tippett BUS 100 – Introduction to Business July 31, 2012 THE BUSINESS ENVIRONMENT 2 The Business Environment Describe the role of business in the economy. The role of business in the economy is a business of any activity that provides goods and services in the effort to earn a profit. Business also drives up the standard of living for people worldwide, contributing to a higher quality of life. Not only do business provide the products and services that people enjoy, but business also provide the jobs that people need (Kelly, M. and McGowan, J., 2012)(p.3). Business in the economy guides the overall pace of economic activity,