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BU111 > PEST: Political factors > Flashcards

PEST: Political factors Flashcards

1
Q

PEST: political factors elements

A

laws
regulations
taxes
trade agreements or conditions

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2
Q

how do businesses influence the gov.

A

lobbying
collaboration/input
advertising

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3
Q

lobbying

A

the act of trying to influence decisions made by government officials, such as legislators, regulators, or public officials. It is typically done by individuals, groups, or organizations that want policies or laws to reflect their interests.

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4
Q

lobbying act

A

must register and follow rules, have to describe who you represent

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5
Q

collaboration/input

A

Collaboration refers to businesses working together with governments, organizations, or stakeholders to achieve mutual goals.

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6
Q

advertising

A

corporations influence voters
get to gov. through people ex. with contracts

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7
Q

how gov. influence businesses

A

service provider
business support
laws, regulations
taxation

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8
Q

service provider approach and impact

A

approach: canada post, public education
impact: competition, social goals

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9
Q

business support approach and impact

A

approach: subsidies, trade agreements
impact: opportunity, protection

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10
Q

laws, regulations approach and impact

A

approach: competition, consumer, pollution, laws, IP rights
impact: competition, consumer protection, innovation, social goals, barriers

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11
Q

Taxation approach and impact

A

approach: income(business and personal), sales, property restrictive
impact: consumer spending, incentives, barriers

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12
Q

6 entry strategies

A

indirect export
sales agent
licensing/franchising
joint venture
sales office
foreign subsidiary

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13
Q

indirect export

A

selling via third party exporters

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14
Q

sales agent

A

local distributor or agent

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15
Q

licensing/frachising

A

allow local use of IP

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16
Q

joint venture

A

partnership with local firms

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17
Q

sales office

A

maintain production domestically

18
Q

foreign subsidiary

A

full control with local operations

19
Q

indirect export risks

A

limited control

20
Q

sales agent risks

A

limited marketing control

21
Q

licensing/franchising risk

A

IP misuse

22
Q

joint venture risks

A

partner incompatabilities

23
Q

sales office risks

A

trade barriers

24
Q

foreign subsidiary risks

A

high costs

25
Q

forms of ownership

A

sole proprietorship
partnership
corporation

26
Q

types of corporation

A

public and private

27
Q

types of partnerships

A

general partnership
limited partnership

28
Q

general partnership

A

all partners have joint and several liability

29
Q

limited partnership

A

limited partners liability
cannot be active in management
at least one general partner

30
Q

social enterprise

A

prioritize value over profit
ex. SOS, garmeen bank

31
Q

key facets of social enterprises

A

help overcome market inequalities/failures
social value is primary objective but financial sustainability imperative

32
Q

social enterprises implications

A

economic value not required priority
dual stakeholders

33
Q

globalization

A

world becoming single interdependent system

34
Q

globalization driving forces

A

cost and market benefits
technology makes it easier, faster, cheaper
competitive pressure

35
Q

international trade barriers technological factors

A

IP laws, technology standards

36
Q

international trade barriers internal factors

A

knowledge/capabilities, production, preference, finances

37
Q

international trade barriers political factors

A

quotas, tariffs, subsidies, protectionism, local content laws, business practice laws

38
Q

international trade barriers social and cultural factors

A

customer needs, customer values, language, norms

39
Q

international trade barriers 5 forces factors

A

distribution, customers, competition, suppliers, substitutes

40
Q

international trade barriers economic factors

A

exchange rate, foreign GDP

41
Q

public corp

A

expensive, complicated, many regulations, BOD control, can afford resources, taxation taxed separately from shareholders; higher than private, liability limited to investment

42
Q

private corp

A

straightforward and inexpensive formation, few simple regulations, control shared with other shareholders, resources are whatever owners bring, taxation private corp. rates, liability limited to investment except personal assets brought into business

BU111 (9 decks)

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