8. SET factors

Question 1

What social issues factors needs to be considered by business ?

Answer 1

Demographics -growth(d,b,m), composition,health,wealth,education, location.

Social trend(change) - status(class), values, attitudes(like/dislike), preference

Gov policy - birth control, housing, health etc.

Question 2

What are environmental issues ?

Answer 2

Business affects environment (pollution,waste of resources)& viceversa( climate change, lack of resources, legislations)

Question 3

How damage to environment can be limited ?

Answer 3

Recycling, use less resources, prod. planning, use energy efficiently.

Sustainability -trees

Question 4

How businesses change thanks to technology ?

Answer 4

Downsizing, delayering, outsourcing

Question 5

Adv & disadvantage of outsourcing (2x2)

Answer 5

+flexibility
+specialist knowledge
+fixed fee contract

-giving access to 3rd party
-possible bad contract
-outflow of experts

Question 6

How techn. change impact products ?

Answer 6

-more sophisticated
-more substitutes available
-new prod.(online banking)
-support outsourced

Question 7

How techn. change impact prod. process ? (2)

Answer 7

-automated prod lines
-IT systems efficient monitoring

Question 8

How techn. change impact marketing ?

Answer 8

Pricing-monitoring
ProMotion-new(banners)
Distribution (internet)
Market research through databases