0
A business organisation responds to changing business environment by strategic alliance,mergers,brand building,restructuring,modernisation,expansion in its vulnerabilty within the dimensions of the social,political,economic,technological,legal environment by SWOT analysis.(strength,weakness,opportunities ,threats) of all levels & components of the business environment.
What else can I help you with?
How has tesco responded to changes in its business environment?
really well to changes
What are the sectors of the business environment and how do changes in the economic and political and legal environments influence business decisions?
PEST
What are macro-enviromental changes?
Macro environmental changes are the alterations of the major components of the environment. Speaking from a business point of view, changes in the political and tax structure of an economy can be classified as changes in the macro environment.
Discuss the nature significance of business environment in India?
An analysis of business environment helps to identify strength, weakness, opportunities & threats. Analysis is very necessary for the survival and growth of the business enterprise. The importance of business environment is briefly explained in an analysis below.(1) Identification of Strength: The analysis of the internal environment helps to identify strength of the firm. For instance, if the company has good personal policies in respect of promotion, transfer, training, etc than it can indicates strength of the firm in respect of personal policies. This strength can be identified through the job satisfaction and performance of the employees. After identifying the strengths the firm must try to consolidate its strengths by further improvement in its existing plans & policies.(2) Identification of Weakness: The analysis of the internal environment indicates not only strengths but also the weakness of the firm. A firm may be strong in certain areas; where as it may be weak in some other areas. The firm should identify sue weakness so as to correct them as early as possible.(3) Identification of Opportunities: An analysis of the external environment helps the business firm to identify the opportunities in the market. The business firm should make every possible effort to grab the opportunities as and when they come.(4) Identification of Threats: Business may be subject to threats from competitors and others. Therefore environmental analysis helps to identify threats from the environment identification of threats at an earlier date is always beneficial to the firm as it helps to defuse the same.(5) Exploitation of Business Opportunities: Environment opens new opportunities for the expansion of business activities. Study of environment is necessary in order to discover and exploit such opportunities fully.(6) Keeping Business Enterprise Alert: Environment study is needed as it keeps the business unit alert in its approach and activities. In the absence of environmental changes, the business activities will be dull and lifeless. The problems & prospects of business can be understood properly through the study of business environment. This enables an enterprise to face the problems with confidence and secure the maximum benefits of business opportunities available.(7) Keeping Business Flexible and Dynamic: Study of business environment is needed for keeping business flexible and dynamic as per the changes in the environmental forces. This will enable the development of business organization.(8) Understanding Future Problems and Prospects: The study of business environment enables to understand future problems and prospects of business in advance. This enables business organizations to face the problems boldly and also take the benefit of favorable situation.(9)Making Business Socially Acceptable: Environment study enables businessmen to expand the business and also make it acceptable to different social groups. Business organizations can make positive contribution for maintaining ecological balance by studying social environment.(10) Ensures Optimum Utilization of Resources: The study of business environment is needed as it ensures optimum use of resources available. For this, the study of economic and technological environment is useful. Such study enables organization to take full benefit of government policies, concessions provided, and technological developments and so on.(11) Ensures Survival and Growth: Business environment inform about suitable changes to be affected in business policies. This helps the business organizations to grow & prosper.(12) Maintaining adaptability to changes: Business environment guides the business organization about socio-economic changes & the organization must accordingly adapt these change. This enables the business organization to survive for a longer period.
Why is the environment important to business?
The environment is important to business because on a daily basis we interact and live in an around it and what ever decisions we make will affect us within the environment whether it is positive or negative.
How has tesco responded to changes in its business environment?
really well to changes
What are the major changes shaping the dynamic business environment?
no
How the environment in which the business operates impacts upon its success?
The environment affects a business because changes can impact business strategy and processes. For instance, heavy government regulations can place a burden on the business.
What are the sectors of the business environment and how do changes in the economic and political and legal environments influence business decisions?
PEST
Example of general environment of an organization?
The general environment of an organization includes factors such as economic conditions, technological advancements, political and legal regulations, sociocultural trends, and demographic changes. These external influences can impact the organization's operations, strategies, and overall performance. Understanding and adapting to changes in the general environment is crucial for the long-term success and sustainability of the organization.
What are macro-enviromental changes?
Macro environmental changes are the alterations of the major components of the environment. Speaking from a business point of view, changes in the political and tax structure of an economy can be classified as changes in the macro environment.
Discuss the nature significance of business environment in India?
An analysis of business environment helps to identify strength, weakness, opportunities & threats. Analysis is very necessary for the survival and growth of the business enterprise. The importance of business environment is briefly explained in an analysis below.(1) Identification of Strength: The analysis of the internal environment helps to identify strength of the firm. For instance, if the company has good personal policies in respect of promotion, transfer, training, etc than it can indicates strength of the firm in respect of personal policies. This strength can be identified through the job satisfaction and performance of the employees. After identifying the strengths the firm must try to consolidate its strengths by further improvement in its existing plans & policies.(2) Identification of Weakness: The analysis of the internal environment indicates not only strengths but also the weakness of the firm. A firm may be strong in certain areas; where as it may be weak in some other areas. The firm should identify sue weakness so as to correct them as early as possible.(3) Identification of Opportunities: An analysis of the external environment helps the business firm to identify the opportunities in the market. The business firm should make every possible effort to grab the opportunities as and when they come.(4) Identification of Threats: Business may be subject to threats from competitors and others. Therefore environmental analysis helps to identify threats from the environment identification of threats at an earlier date is always beneficial to the firm as it helps to defuse the same.(5) Exploitation of Business Opportunities: Environment opens new opportunities for the expansion of business activities. Study of environment is necessary in order to discover and exploit such opportunities fully.(6) Keeping Business Enterprise Alert: Environment study is needed as it keeps the business unit alert in its approach and activities. In the absence of environmental changes, the business activities will be dull and lifeless. The problems & prospects of business can be understood properly through the study of business environment. This enables an enterprise to face the problems with confidence and secure the maximum benefits of business opportunities available.(7) Keeping Business Flexible and Dynamic: Study of business environment is needed for keeping business flexible and dynamic as per the changes in the environmental forces. This will enable the development of business organization.(8) Understanding Future Problems and Prospects: The study of business environment enables to understand future problems and prospects of business in advance. This enables business organizations to face the problems boldly and also take the benefit of favorable situation.(9)Making Business Socially Acceptable: Environment study enables businessmen to expand the business and also make it acceptable to different social groups. Business organizations can make positive contribution for maintaining ecological balance by studying social environment.(10) Ensures Optimum Utilization of Resources: The study of business environment is needed as it ensures optimum use of resources available. For this, the study of economic and technological environment is useful. Such study enables organization to take full benefit of government policies, concessions provided, and technological developments and so on.(11) Ensures Survival and Growth: Business environment inform about suitable changes to be affected in business policies. This helps the business organizations to grow & prosper.(12) Maintaining adaptability to changes: Business environment guides the business organization about socio-economic changes & the organization must accordingly adapt these change. This enables the business organization to survive for a longer period.
What are the differences between internal and external environment?
The differences between internal and external environment is: Internal environment involve within the organization, which are the employee attitudes,new equipment,strategy,work forces. The organization has the control of these matters because it happen within the organization unless like external environment. AND for the external environment,is clearly stated with the word external itself which means outside of the organizations which effect the changes in the organization which the organization does not have the control of it. External environment are involved by the PESTLE- Politic, Economy, Social, Technology, Legal and Environment.
Why are changes in business environment important for a communication company?
because it creates goodwill to the customers
What are the relations and difference between business policy and strategic management?
Policies help businesses carry out their strategic objectives. When the business strategy changes, so will their policies. Strategies change as the business environment changes.
Why is the environment important to business?
The environment is important to business because on a daily basis we interact and live in an around it and what ever decisions we make will affect us within the environment whether it is positive or negative.
Why do systems need replacement?
An organisation operating in an open environment is constantly influenced by changes that affect the information produced by the information system. Therefore the information system needs to be replaced, because if it is not replaced that information contained will not be accurate. For example the typical changes that would influence the information produced by the information system in an environment are: * Technological changes * Business environment changes * Competition * Organisational growth * Changes in the activities of the business
