PEST: Political factors

Question 1

PEST: political factors elements

Answer 1

laws
regulations
taxes
trade agreements or conditions

Question 2

how do businesses influence the gov.

Answer 2

lobbying
collaboration/input
advertising

Question 3

lobbying

Answer 3

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.

Question 4

lobbying act

Answer 4

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

Question 5

collaboration/input

Answer 5

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

Question 6

advertising

Answer 6

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

Question 7

how gov. influence businesses

Answer 7

service provider
business support
laws, regulations
taxation

Question 8

service provider approach and impact

Answer 8

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

Question 9

business support approach and impact

Answer 9

approach: subsidies, trade agreements
impact: opportunity, protection

Question 10

laws, regulations approach and impact

Answer 10

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

Question 11

Taxation approach and impact

Answer 11

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

Question 12

6 entry strategies

Answer 12

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

Question 13

indirect export

Answer 13

selling via third party exporters

Question 14

sales agent

Answer 14

local distributor or agent

Question 15

licensing/frachising

Answer 15

allow local use of IP

Question 16

joint venture

Answer 16

partnership with local firms

Question 17

sales office

Answer 17

maintain production domestically

Question 18

foreign subsidiary

Answer 18

full control with local operations

Question 19

indirect export risks

Answer 19

limited control

Question 20

sales agent risks

Answer 20

limited marketing control

Question 21

licensing/franchising risk

Answer 21

IP misuse

Question 22

joint venture risks

Answer 22

partner incompatabilities

Question 23

sales office risks

Answer 23

trade barriers

Question 24

foreign subsidiary risks

Answer 24

high costs

Question 25

forms of ownership

Answer 25

sole proprietorship partnership corporation

Question 26

types of corporation

Answer 26

public and private

Question 27

types of partnerships

Answer 27

general partnership limited partnership

Question 28

general partnership

Answer 28

all partners have joint and several liability

Question 29

limited partnership

Answer 29

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

Question 30

social enterprise

Answer 30

prioritize value over profit ex. SOS, garmeen bank

Question 31

key facets of social enterprises

Answer 31

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

Question 32

social enterprises implications

Answer 32

economic value not required priority dual stakeholders

Question 33

globalization

Answer 33

world becoming single interdependent system

Question 34

globalization driving forces

Answer 34

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

Question 35

international trade barriers technological factors

Answer 35

IP laws, technology standards

Question 36

international trade barriers internal factors

Answer 36

knowledge/capabilities, production, preference, finances

Question 37

international trade barriers political factors

Answer 37

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

Question 38

international trade barriers social and cultural factors

Answer 38

customer needs, customer values, language, norms

Question 39

international trade barriers 5 forces factors

Answer 39

distribution, customers, competition, suppliers, substitutes

Question 40

international trade barriers economic factors

Answer 40

exchange rate, foreign GDP

Question 41

public corp

Answer 41

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

Question 42

private corp

Answer 42

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