Business 3 External Business environment Planning Flashcards
Societal attitudes and behaviors
LSETGC
-Legal Government regulations
-Societal attitudes
-Economic Conditions
-Technological considerations
-Global Consideration
-Corporate Social Responsibility
Values and Beliefs
Influence how people behave and what they eat means businesses need to address the changing ideas
Global Considerations
-Overseas Competitors
-Overseas Markets
-Offshoring labour
-Exchange rates
-Online sales
Economic Conditions
-Employment levels
-Tax Rates
-Consumer Confidence
Trends
Popular at a certain point of time. Change alot
Patent
Exculsive right granted for an invention. Could be product or process
Trademark
Identifies a distinctive product or service. Helps consumers know the difference between your products and those belonging to your competitors
Copyright
Legal framework that is free automatically attached to creations books,plays
Macro factors
LSETGC
Legal/Government
-Societal Attitudes
-Economic conditions
-Technological consideration
-Global Consideration
-CSR
Operating Factors
CSSI
Customers
Competitors
Suppliers
Interest Grouop
Environmental Considerations
CSR
Reduce the impact businessess carry out on the environment
-Increased profits
-Attract and keep staff
-Increase Investment
Social Considerations
Inputs
Responsibily source local suppliers/local jobs
-Diverse workforce
-Use suppliers who adhere to CSR guides
Proccesses
-Reduce Waste
-Recycle inputs
Outputs
-Ensure the product is good for society
-Consider amount of packaging
Operating environment factors
CCSI
Customers
Competitors
Suppliers
Interest
Customer needs and Expectations
Expectations
-Quality goods/Reasonable price
-High level customer service
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