answersLogoWhite

0

Government policy changes have a gret impact on the workings of business and industry.

1.increases competition

2.market orientation

3.more demanding customers

4.increase in exports

5.efficient technology

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

How government type and stability affect hospitality industry?

I think that most business have problems when the stability of the governemnt changes because so I think it most of the stability government will affect the business


What are some macroenvironmental factors for a hotel business?

Some macroenvironmental factors affecting the hotel business includes government regulations and the travel industry. Changes from either of these external factors simultaneously affects hotels.


How government changes can affect a business?

It would depend on the changes made and the business referred to, the question is far too broad.


What is the business area of Windsor Life?

The business life in Windsor life is based of the industry of changes in the stock market. The areas in which it covers is analysis of psychological effects on stock 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.


What is positive external shock?

A positive external shock refers to an unexpected event or development that has beneficial effects on an economy, industry, or market. Examples include advancements in technology, significant increases in demand for goods, or favorable changes in government policy. These shocks can lead to increased economic growth, higher employment rates, and improved business confidence. They often create opportunities for innovation and expansion across various sectors.


List and explain briefly 5 element of external business environment of business?

Five elements to an external business environment include the political climate, competition, government regulations, changes in the economy, and industry changes. External environment business elements can be summarized as being unpredictable. Elements include the political climate or political changes that could affect how a business operates. How a business handles threats from their competition. An organization cannot control their competition and therefore they may have to adjust their business model in order to stay competitive. Another external element is adjusting and dealing with government regulations. Businesses need to make sure they are compliant with regulations and laws. Compliance is important because it can assist in avoiding damage or threats to their business profits and operation. For example, being fined for not being compliant with government regulations is a possible threat. Depending on the industry, another element is the state of the economy. Changes in the economy could include inflation and interest rates rising. Both can affect how consumers frequent certain types of businesses or how industries are affected economically.


What are the limitations of strategy?

One limitation to strategy is the fact that it can't be easily changed. When the industry changes, the business has to make changes that take a long time to implement.


Is Durable medical equipment business profitable?

The DME Industry has undergone significant changes due to the Medicare Modernization Act and now Competitive Bidding. It is not an easy industry to enter, but can be profitable with the right product mix and business model.


What are the extraneous factors for business?

There are an endless array of both internal and external factors that can have either a positive or negative affect on business operations. External factors would include changes in the economy, government regulation, war, weather (i.e. hurricanes, flooding, etc.), competition and market changes, among others. Usually external factors are beyond the control of management.


What are the advantages of attending business conferences?

There are number of advantages to attending business conferences. Some of the advantages include keeping up with industry changes and marketing a company's products.


What is the positive effects of physical and chemical changes?

Physical changes can include changes in shape, size, or state of matter, while chemical changes involve the formation of new substances. Positive effects of physical changes can include improving properties like durability or appearance, while positive effects of chemical changes can lead to the creation of new materials with enhanced characteristics or functionalities. Overall, both types of changes can contribute to advancements in technology, industry, and scientific research.