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What are the various forces or elements of the firm's environment?
Wiki User
∙ 6y ago
the economic aspects: business enterprises being economic institutions are directly influenced by many economic forces in its environment.
the legal-political Aspects:business firms operations are also much affected by legal and political factors in their environment.(E.g.wage and employment laws,regulations on advertising,waster disposal.
The technological aspects: technological development continuously occur throughout the world. technological developments lead to new products and or new ways of making the same products which can threaten pre-existing products sold by a firm.
the social-cultural and demographic aspects: level of education, lifesyles, tastes and preferences, age profile, size, and geographic distribution of the populations
Wiki User
∙ 15y ago
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What firms up from liquid to semisolid?
Gel
Why monopolistic competition in the short run making profit but in long run it would be break even?
In the short run a monopolistic firm can charge where MR=MC and that will be at a price that gains abnormal profits. They can do this in the short run because firms have a lag before they can be set up. But in the long run, the abnormal profits draw new firms into the industry and so this forces the firm to break even. Any profit at all- in theory- will draw in competitiors as there are limited barriers to entry.
What is the one largest professional services firms in the world?
Kpmg
What are shared dealing services?
Share dealing services are related to stock trading. Brokerage firms that offer share dealing allow their clients to buy and sell shares of various companies. Originally, this was designed to make it easier for employees who were entitled to shares of in their employing company to manage their stocks.
Attraction-selection-attrition processes are most evident in?
Small Firms
What are the major elements of specific environment and how each elements impacts firms?
CUSTOMERS SUPPLIERS regulators competitors
What are the micro environment forces?
The company itself (including departments).SuppliersMarketing Channel Firms (intermediaries)Customer MarketsCompetitorsPublic
Discus and describe the elements of the external environment and how they can be used to determine the average expected profitability in an industry?
external environment is environment for businesses where customers from different places will come together in other to buy a particular product. Elements of external environment may be households,firms and the government.
What competitive environmental forces influence the firms strategy?
The competitive environmental forces influence the firms customers, rival firms, new entrants, substitutes, and supplies.
What is competitive environmental forces influence the firm's strategy?
In strategic planning, firms analyze the competitive environment in order to adapt to or influence the nature of competition. A general rule of thumb about this analysis is: The more power each of these forces has, the less profitable the industry will be. There are five forces: 1. Customers 2. Rival Firms 3. New Entrants 4. Substitutes 5. Suppliers
The general willingness of firms to produce and sell a product at various prices is?
The general willingness of firms to produce and sell a product at various prices is known as supply.
Can Socially Responsible firms survive in a Competitive environment?
Yes.
Where can one find information regarding environmental consulting firms?
Environmental consulting firms help companies continue their operations while respecting the environment. More information on these consulting firms is available directly from the firms themselves.
Practical problems firms face due to the changing business environment with regards to reward policies?
What are the practical and theoretical problems firms face due to the changing business environment with reguards to reward policies
How do you compare the organizational strucure and culture of two firms?
You can compare the organizational structure and culture of two firms by examining the various management styles and promotional structure of the two different firms.
Types of global business environment?
There are many types of business environments. these can include competitor, technological, supplier, and socio-economic. These are the different situations that a business will come up against.
What is the market forces and organizational response?
I think this is part if not the answer your looking for. I found this as i was reading and studying for my class: Principles of marketing. Marketing environment consists of external forces that directly or indirectly influence an organization's acquisition of inputs and creation of outputs (goods, services, or ideas). The marketing environment includes 6 such forces: competitive, economic, political, legal, and regulatory, technological, and sociocultural. Weather fluctuating rapidly or slowly, environmental forces are always dynamic. Changes in the marketing environment create uncertainty, threats, and opportunities for marketers. Marketing managers who fail to recognize changes in environmental forces leave their firms unprepared to capitalize on marketing opportunities or to cope with threats created by changes in the environment. Monitoring the environment therefore is crucial to an organization's survival and to the long-term achievement of its goals. This is all found in the Marketing Express, Pride & Ferrell, 2011. Book sold at colleges.
