Influences on a business

Question 1

Australian securities and investment commission

Answer 1

Fairness and ethical relationships between businesses - Protection of customers

Question 2

Australian competition and consumer commission

Answer 2

Relationship between suppliers realtors and consumers

Question 3

Privatisation

Answer 3

Government business being sold of to private owners

Question 4

External influences

Answer 4

MC LEFT PIGS

Market competitive legal economic financial technology politician institutional geographical social

Question 5

Market

Answer 5

Changes in financial and capital markets(Finance being more mobile), in labour markets( Politicianal barriers such as flow of people), and in consumer markets ( Products produced efficiently and improvement of technology and communication)

Question 6

Market

Answer 6

Changes in financial and capital markets(Finance being more mobile), in labour markets( Political barriers such as flow of people), and in consumer markets ( Products produced efficiently and improvement of technology and communication)

Question 7

Competitive situation

Answer 7

Competition leads to more choice – competitive pricing
Competition encourages efficiency and innovation aiming to achieve a sustainable advantage
Local and foreign competition, ease of entry, marketing strategies employed by competitors

Question 8

monopoly

Answer 8

One firm in the industry – complete concentration - aus post

Question 9

oligopoly

Answer 9

A small number of larger firms that have greater control over a market - holden

Question 10

monopolistic competition

Answer 10

A large number of buyers and sellers in particular market – a clothes shop

Question 11

Perfect competition

Answer 11

Large number of small firms that sell similar products – fruit store

Question 12

legal

Answer 12

Legal regulations such as competition and consumer act 2010 including refunds false advertising and price Discrimination

Question 13

Economics

Answer 13

The Australian economy experience periods of expansion and contraction known as the business cycle. Economic cycles of significant impact are the business influence of capacity to compete and the customers willingness and Ability to spend

Question 14

Financial

Answer 14

1983 when financial deregulation came into place, main source of finance interest rates increased, And deregulation the removal of government regulations and to increase efficiency and improve in competition first steps of privatisation

Question 15

Technology

Answer 15

Businesses need to change to their environment so they can compete more efficiently due to the changing technology simple communication can change everything however disadvantages such as costly delay production or employ similar technologies from all the competitors

Question 16

Political

Answer 16

Significant political issues affecting
Deregulation has increased efficiency through competition
Free trade barriers to trade a removed
privatisation has increased within private sectors

Question 17

Institutional

Answer 17

Fedral government, state government, Local government

Question 18

Geographical

Answer 18

Price quality interaction and demographic in the specific location

Question 19

Social

Answer 19

Changes in taste fashion and culture including concerns of a vulnerable environment, desire for businesses to provide family friendly workplaces and businesses catering to all

Question 20

Internal influence

Answer 20

product, location, management, resource, culture (people like making regretful choices)

Question 21

Products

Answer 21

Type of good or and service, the type of the business and the size of the business

Question 22

Location

Answer 22

Visibility, cost, proximity to suppliers, to customers,

to support services

Question 23

Management

Answer 23

Rapid advances in technology requires fuel levels of management so you can adapt to change quicker.
Less fluid management which is the traditional organisation autocratic division of labour however power is not share dependent
More fluid: Democratic approach equal power widespread workers modern forward thinking contemporary

Question 24

Resources

Answer 24

Human, information, physical, financial

Question 25

Business culture

Answer 25

Ideas, values and beliefs shared by all members of the organisation

Question 26

For essential elements to business culture

Answer 26

Values, symbols, rituals, heroes

Question 27

Stakeholders

Answer 27

People who are affected or had an interest in the businesses activities

Question 28

examples of stakeholders

Answer 28

Shareholders, manages, employees, customers, society, environment