Topic 3: The Micro Environment

Question 1

trends in todays society

Answer 1

ai self driving cars, use of ai for health care purposes chat gtp
collaboraing and sharing; cars, online games
phygitalisation; digital + physical components + empathy, need of human interaction in times of FUD
Boredom: too many stimuli
Other examples?

Question 2

societal influences

Answer 2

influence on the organisation
little to no interaction
not individually influenced by the organisation
anticipate, monitor

Question 3

demographic factor

Answer 3

size growth and composition of the population

Question 4

ageing

Answer 4

today, baby boomers are retiring en masse. because of the baby boom, these are significantly more people than average.

Question 5

degrowth

Answer 5

after a period of baby boom, Belgium is experiencing sharp decline in birth rate

Question 6

employment rate

Answer 6

number of employed people in the population at the working age 20-65

Question 7

demographics

Answer 7

bottleneck professions
need for foreign labourers in many areas such as construction, transport, education, manufacturing, health care (aging population)

Question 8

aging: demographic factor

Answer 8

an ageing population brings an increase in collective spending

Question 9

pensioners are an interesting target group for companies

Answer 9

more spending on holidays
more spending on food
more spending on studies
more spending on the home
demands for products in the target group will increase

Question 10

General findings:

Answer 10

migration
people marrying less and at a later age
people are having fewer children
more 2 income earners

Question 11

economic: all factors which are affecting the behaviour of a consumer

Answer 11

disposable income
purchasing power
inflation
labour costs

Question 12

economic: societal factor

Answer 12

two earners
family composition has changed
childcare facilities

Question 13

economic: social factors

Answer 13

rising awareness about environment and sustainability
work life balance
digital versus real life
human and Ai
privacy issues
individualisation
importance of local initiatives (food, repair business, mobility)

Question 14

the speed of technological change

Answer 14

new technology creates opportunities
however, new technologies also threatens an older
technological life cycles are getting shorter and shorter

Question 15

technological factor

Answer 15

rapid changes in technology
PLC gets shorter and shorter

Question 16

market and business factors

Answer 16

size of the market
fierceness of competition - active entrants

Question 17

political factors

Answer 17

political variables
government involvement
grant climate
taxes and duties
labour costs
import and export
legislation and stability

Question 18

ecological factor

Answer 18

sustainability and csr

Question 19

3 Ps?

Answer 19

People planet profit

Question 20

supply chain

Answer 20

raw material
supplier
factory
distribution
retail
customer

Question 21

linear economics

Answer 21

take
make
waste

Question 22

circular economics

Answer 22

refuse/rethink
reduce
reuse
repair/refurbish
recycle
recover

Question 23

DISAVANTAGES OF CIRCULAR ECONOMY

Answer 23

lack of necessary infrastructure in order to recycle and reuse
need for more financial support from governments to adapt companies infrastructure
technical skills and abilities needed within the CE framework to be developed among workers
lack of regulation and environmental awareness

Question 24

greenwashing

Answer 24

creating the impression that they are doing something for the environment but they are not doing a lot. (airplanes)