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Explain any controllable elements of the business environment that effect growth in an organization?
According to a definition on the link provided here>> http://www.quantum3.co.za/CI%20Glossary.htm#B, it clearly defines the meaning of a business environment, which is the foundation to begin with before answering the question. it defines a business environment as " encompasses all those factors that affect a company's operations, and includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors, and technological developments" However, the definition given is very general, it does not distinguish or point out which elements are controllable and which are not. To my own understanding, controllable elements, also known as internal elements, are those which are within the organization which are eligible to controlling the operation of an organization, which includes the management, the hierarchy of the business, the personnel, the missions and visions of the organization and etc. The rest is for you to find out.
What are controllable and uncontrollable factors in International business environment?
Controllable factors in the international business environment include elements such as marketing strategies, pricing policies, and product features that a company can directly influence. In contrast, uncontrollable factors encompass external conditions like political stability, economic trends, cultural differences, and legal regulations in different countries, which businesses cannot change but must adapt to. Understanding the interplay between these factors is crucial for developing effective international business strategies. Companies must leverage their controllable factors while navigating the challenges posed by uncontrollable factors.
Explain elements of business environment?
A business environment are the internal and external factors that affect a business. Its elements include society, technology, regulations, economy and politics.
What is a bussiness environment?
its a set of all elements that exist both from within and outside the business environment
What are the four elements of the international business environment?
There are more than four elements of the international business environment. Some of them are economic development, monetary and fiscal policies, the legal environment, and cultural concerns. Others include the political environment, and ecological issues.
What is 5 elements of internal business environment?
Product attractiveness, opportunities, organizational structure, intellectual assets, and internal stakeholders are the 5 elements of internal business environment. Another element is key business drivers such as market indicators.
What is controllable factors in Sony company?
Controllable factors in Sony Company refer to elements within the organization that management can influence or change to achieve business objectives. These include marketing strategies, product development, pricing, and operational efficiency. By optimizing these factors, Sony can enhance its competitive advantage, respond to market trends, and improve overall performance. Additionally, employee training and corporate culture are also controllable factors that impact productivity and innovation within the company.
1 How does socio cultural environment influence the international business Discuss the elements of culture?
The socio cultural environment influence the international business in both positive and negative way. The beliefs, language, religion, society, attitudes, opinions of a country have an effect on doing business internationally.
What are the 8 environmental elements of a firm?
The 8 environmental elements of a firm are: competitive environment, economic environment, social environment, political environment, regulatory environment, technological environment, legal environment, and global environment. These elements impact a firm's operations, strategies, and overall business performance. Understanding these factors is crucial for a firm to effectively navigate its external environment.
What are the economic factors affecting a business environment?
Economic factor that affect businesses: 1. Income 2. Inflation 3. Recession 4. Interest Rate 5. Exchange Rate There are four major elements that affect business environment. The elements are: 1. Economic growth 2. The business cycle 3. Employment and unemployment 4. Inflation
What are the economic factors affecting business environment?
Economic factor that affect businesses: 1. Income 2. Inflation 3. Recession 4. Interest Rate 5. Exchange Rate There are four major elements that affect business environment. The elements are: 1. Economic growth 2. The business cycle 3. Employment and unemployment 4. Inflation
What are the Main elements that make up the business environment?
Internal component of business enviorment consists of Resourses, Capabilities, Core Competencies and Strategic competitiveness withing any organisation.Market environment consist of all factors that in one way or another affect or affected by the organization desicion.there are external and internal factors.Internal factor , these involve (5M's)ManagementManpowermachinematerial andmoney.External factors , these includeMacro factor and micro factors.Macro factors are the one that affect the organization indirectly, these are (pestel)Politicalenviromentsocia-culturaltechnological andEcologicalleagalwhile micro factors are those which affect the organization directly it involvecustomerscompetitorssuppliers andpublic
