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2.3.1) The social environmentof business includes social factors like customs, traditions, values, beliefs, poverty, literacy, life expectancy rate etc. The social structure and the values that a
Society cherishes have a considerable influence on the functioning of business firms. For example, during festive seasons there is an increase in the demand for new clothes, sweets, fruits, flower, etc. Due to increase in literacy rate the consumers are becoming more conscious of the quality of the products.organisations are at the centre of changes taking place in the social environment therefore organisation must be aware of the culture, needs , preferences, purchasing patterns ect of consumers. Management must be fully aware of the social composition for both its consumers and its labour force in order to establish the best advantage for its customers and employees.
What else can I help you with?
Social factors affecting business?
There are a number of social factors that affect business in any environment. Some of the common factors include age, education level, income and culture among others.
What are social responsibilities?
Social responsibilities refer to an obligation that individuals or businesses have to solve social problems.
What are the social responsibilities of entrepreneurs explain?
what are the social responsibilities of an enterpreneur
Why businesses must consider their impact on society when making decisions?
Businesses must consider their impact on society because their actions can significantly affect community well-being, public health, and the environment. Decisions that prioritize social responsibility can enhance brand reputation and customer loyalty, as consumers increasingly favor companies that align with their values. Additionally, considering societal impact helps mitigate risks related to regulatory compliance and potential backlash, ultimately contributing to long-term sustainability and profitability. By integrating social considerations into their decision-making processes, businesses can foster positive relationships with stakeholders and contribute to a more equitable society.
Explain the Concept of Social Responsibility of Business?
The concept of social responsibility of business refers to the idea that companies should not only focus on profit maximization but also consider their impact on society and the environment. This includes ethical practices, sustainable operations, and contributions to community welfare. Businesses are expected to balance stakeholder interests, including employees, customers, and the broader community, fostering positive relationships and long-term value. Ultimately, social responsibility promotes a more ethical and sustainable approach to business operations.
How does social responsibility business positively affect the consumer?
How does social responsibility by businesses affect the consumer community negatively
How social responsibility by businesses affect the consumer community positively?
Businesses should treat their customers fairly. If they don't it will come back to bite them.
Conclusion controllable elements of the business environment?
Briefly describe any FIVE (5) changes in the social environment that can affect the operation of an organisation. Briefly describe any FIVE (5) changes in the social environment that can affect the operation of an organisation.
How culture-technology and social interaction affect environment?
people kill each other
What is it called when companies support social issues?
When companies support social issues, it is referred to as corporate social responsibility (CSR). This involves businesses taking responsibility for the impact of their activities on society and the environment.
How does social responsibility by businesses affect the consumer community positively?
by providing bursarys,education, trainin,building the community hall
How does the social environment affect the business?
These are the factors within the organisation that you have control over such as suppliers, staff etc
Explain the element of micro-environment and macro-environment outline any two changes in the macro-environment?
The micro-environment refers to the immediate external factors that affect an organization, such as customers, suppliers, and competitors. The macro-environment, on the other hand, comprises larger societal forces like political, economic, social, technological, environmental, and legal factors. Two changes in the macro-environment could be shifts in consumer preferences towards sustainable products due to increasing environmental awareness, and changes in government regulations affecting global trade and import/export policies.
What is economic environment?
socio economic environment is the sum total of social factors or circumstances caused by people in combination with the sum total of economic factors both physical and social that affect individual or group of individuals or community.
Define the concept of international business environment and also explain its scope and nature?
The international business environment can be defined as the environment in different countries that influences the capabilities and resource use of a particular organization. It includes economic, political, legal, cultural, tax, regulatory and technological aspects.
Explain why social studies is the study of man in his social environment?
Social studies focuses on studying human behavior, societies, and cultures within their social contexts to understand how individuals interact with each other and their environment. By examining these relationships, social studies helps us gain insights into the complexities of human society and how people shape and are shaped by their social environments.
How does social responsibility by businesses affect the consumer community negatively?
Some businesses practices may offend others when they act socially. For instance, a business that supports gay rights may offend others who don't agree.
