UNIT 7A BUSINESS EXTERNAL ENVIRO - INFLUENCES ON CORP OBJ/DESCISIONS

Question 1

What are the elemnt sof external enviro that can influence corp obj

Answer 1

state of econ

price on global mkts

tech changes

migration

Question 2

what is ukk econ stil feeling effects of

Answer 2

deep recessoin 2008-9

Question 3

how do we know UK still feeling efects of financial criss

Answer 3

2017 resoultion foundation revelaed

avg real wages in 2022 still be more than £20 lower/week than before start of financial crisis

Question 4

t/f consumer spending after global crissis 8/9 has still held up even after inflation been taken into account

Answer 4

T

Question 5

consumer sepnding still held up but this is supported by

Answer 5

consumers increasing their borrwinf

Question 6

why have bs had to adjust their corp obj to reflect
4 marks

Answer 6

consumer spending still held up after 8/9
but this is supported by increasing their borrowing

so ability of consumer to spend money is curtailed

and we seek value for money and comp prices

Question 7

give eg of bs adjusting corp obj to reflect fact consumer spending curtailed and we look for comp prices and seek value for money

Answer 7

lots of uk bs revisited corp obj in erms of sales and number of shops/stores required

629 stores closed in UK in 2017

by november 2018 1,826 stores closed

Question 8

consumer spending in 2017 showed what changes

Answer 8

substantial changes in its pattern over a period of just one year

Question 9

how in 2017 did spenfing change

Answer 9

recreationa and culture risen + transport, clothing , footwear

expenditure on restaurants and hotels declined

Question 10

recreationa and culture risen + transport, clothing , footwear

expenditure on restaurants and hotels declined

what effect does this have on startgeic descision making

Answer 10

shape SD

across range of manufacturing and service industries

Question 11

changes in global prices of commodities such as oil and wheat impact

Answer 11

heavily on startegic descison making and objective setting

in many industries

Question 12

in sept 2018 oil prices rose around 44% compared to 2017 what does thi sdo

Answer 12

affect cost of many firms

encourage them to increase prices

Question 13

he rising oil prices (after prolonged falls in 2018 affected oil companies how

3 MARKS

Answer 13

SD ro restore exploration activity + increase day 2 day operations

66% of senior oil and gas professionals surveyed copmany would maintain or increase capital spending

increase jobs and outpu of oil - at least in ST

Question 14

HOW CAN TECH IMPACT SD and obj setting

2 marks

Answer 14

encourag efirms to adopt obj based on capital intensive prodcution

use robots and other forms of tech to replace labuor in produciton

Question 15

how has tech affect labour jobs example

Answer 15

automatic checklouts of shops

Question 16

how have tech impact bs models e.g retailers

Answer 16

potential of internet allows reach cusomters and supply products 24 horas a dia

Question 17

many banks changing corp obj why

Answer 17

changing consumer behaviour reflected in bigger use of internet

Question 18

give example of bank setting corp obj based on greater use on internet

what implications does this have

Answer 18

RBS closed 162 banks wales and enflang - 2018 announced

huge implications for bs operations

Question 19

bmw set itself obj of what using robots on its car manufacturing and production lines

Answer 19

large scale expansion

Question 20

how does bmw plan to use tobots

Answer 20

desing additional plans for collaborative robots

Question 21

tallation of bmw robots has what significant impications

Answer 21

companies startegic desciosns e.g trainng and recruitment

Question 22

for the last 20 years UK has been subject to

Answer 22

hihg levels of migration

Question 23

t/f high net migration in UK

Answer 23

t

Question 24

what 2 things does immigration affect/provide

Answer 24

workforce available

additional consumers of products for many firms

Question 25

UK unis atract how many students overseas

Answer 25

440k

Question 26

UK unis atract 440k many students overseas affects corp obj in terms of

Answer 26

scale of operation

range of courses

Question 27

why is agriculture for example in east anglia affected by migration

Answer 27

dependent on migration labour as low cost alt to mechanisation