external factors of strategic positioning & strategic options

Question 1

What is the political environment

Answer 1

actions taken by local, national or international authorities that affect the activities of the business

Question 2

policies affecting enterprise

Answer 2

in the UK we have an enterprise-friendly business environment to encourage businesses to develop their business as well as grow and expand

Question 3

what’s the role of regulators

Answer 3

to supervise laws and make sure UK businesses adhere to them
there are more than 90 regulators costing the government £4bn a year

Question 4

objectives of regulators

Answer 4

to protect rights
to protect consumers
to maintain standards
to ensure safety
to ensure financial stability and integrity
to ensure efficient investment
to control prices
to ensure market competition
to ensure businesses have a level playing field

Question 5

What does the CMA do

Answer 5

deal with mergers and takeovers (inorganic growth) as well as price fixing

Question 6

The environment agency works towards…

Answer 6

a cleaner, healthier environment benefiting people and the economy

Question 7

the department for international trade ensure….

Answer 7

free and fair trade occurs as it is fundamental to the prosperity of the world economy

Question 8

Labour market laws to protect employees

Answer 8

Employment rights act
Minimum wage act
Pensions act
Equality act

Question 9

effects of Labour market laws to protect employees

Answer 9

right to a written contract
hourly rates are not allowed to fall -> minimum wages will increase costs
limit of mandatory hours, needing more employees which will increase costs

Question 10

Environmental legislation….

Answer 10

attempts to control pollution

Question 11

competition policy is….

Answer 11

designed to prevent collusion