7.6 Flashcards
external enviroment:social and technological
what is migration ?
it is the movement of people across international borders away from their normal invetsigations.
How does migration impact a business ?
rising demand , middle class securing jobs and create innovation and raise productivity and more taxpayers in the economy .
what are the advantages of migration ?
more employees and larger demographics
wider pool of talent
staff have a international appeal
migrants fill critical labour and there are more tax payers
what are the disadvantages of migration ?
language barriers between workers and larger pressure put on education and over dependance on job rules.
How would changes of lifestyle impact business decision ?
change product or services and market mix as well as changes in raw material
What does e-commerce mean ?
electric sale and sell online they have subscription based models and digital services.
what is fintech ?
leverage subscription models that provided financial tools.
what are challenges for online business ?
competition and costs swell as logistics.
what is the corporate social responsibilty ?
a business being more ethical
what are advantages of CSR ?
it creates a good brand reputation
competitive advnatages
more custumer satisfaction
and improves relationship
attracts responsible investments
what are disadvanages of csr ?
expensive
impacts on profit
shareholders can be upset
ethical to use USP
put responsibilty on business.
what are stakeholders ?
intrest in the welfare of staff and pressure groups that look at sweatshops and eorking condidtions
what are shareholders ?
they want a increase in profit and are less concerned with ethical issues
What are carrols social repspsibility pyramid ?
it helps argue how and why organisation should meet their social responsibilities, and is built on money coming first and has 4 topics:economic,legal,ethical and philanthropic.
What is CSR economic ?
its responsible to be profitabilty and is the only way to survive
what is CSR legal ?
responsibility to obey laws and employment and competition.
what is CSR ethical ?
act morally and beyond narrow requirements
what is CSR philanthropic ?
they exceed social expectation with their voluntary actions.
what are advantages of CSR ?
They act as a guide and creates a better image as well as encoraging a better relatiosnhip as well as easy to understand.
what are disadvanatages of CSR ?
too simplistics and ethics should be first and they dont always claim what they do.
what are the opportunties of tecnological change ?
quicker production and better communication and improved operational effiencinecy,costs reduction,innovation
what are the types pressure for socially respsonsible behavior ?
goverment,custumer,pressure,employee and investor pressure
what are the threats to tecnological change ?
cyber security and the obsolence of tecnology and talent shortages and competition.
what is open trade ?
it a when countries agree to trade with eachother without erecting any barriers to trade. this encourages competition and creates greater effeiciency in the delievery of good and services.
