External Influences
on Business
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External Influences on Business: Technology, Social Attitudes, and the Macro-Economy, Slides of Corporate Governence
The external influences on businesses, focusing on technology and changing social attitudes, new business opportunities, threats, working practices, communication, externalities, and the macro-economy. Topics include the impact of technology on productivity, working practices, and communication, as well as the effects of inflation, the balance of payments, and exchange rates on businesses.
Typology: Slides
2014/2015
1 / 60
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External Influences
on Business
External Influences on Business
External Influences
- (^) New Technology:
- (^) New business opportunities
- (^) Creation of substitutes
- (^) Opening up of new markets
- (^) Technical progress in foreign countries
- (^) Productivity
- (^) Ways of working
- (^) Communication
- (^) Cost of investment versus return
External Influences
- (^) New business opportunities:
- (^) Within the same industry? (Core business)
- (^) Totally new markets/opportunities
- (^) Amount of investment needed
- (^) Market research – do consumers need the product?
External Influences
- (^) Threats:
- (^) Cheaper alternatives from abroad – CFC technology, bio-technology, computer and micro-processor technology (especially China?)
- (^) Rivals producing substitutes – PS2, X- Box and Game Cube
- (^) How to react?
External Influences
- (^) Working practices:
- (^) Technology and productivity – impact on workers, morale, motivation?
- (^) Implications for ‘old’ plants (e.g. Longbridge versus Sunderland?
- (^) Flexible working – working from home, hot desking, mobile computing (wireless networks) video-conferencing
External Influences
- (^) Changing Social Attitudes:
- (^) Social ‘class’ – changing socio–economic groupings
- (^) Links with behaviour and demand (e.g. growing number of pensioners; those who smoke or drink certain types of alcohol)
- (^) Changing tastes – concern for ‘green’ production, attitudes to fur, wine versus beer, vegetarians (long term or short term?)
- (^) Changing lifestyles – convenience and fast foods, use of freezers, use of cars, amount of leisure time and how it is used, etc.
External Influences
- (^) Changing income structures
- (^) Distribution of income
- (^) Regional distribution of income
- (^) Impact of government taxation on disposable incomes
- (^) Relative income elasticity of demand for different goods and services
External Influences
Business Ethics
Social and Environmental Audits
Moral Behaviour
External Influences - Legal and Political