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Flashcards in Environemnt And Economics Deck (14)
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1
Q

Types of environment

A

General (External)- PESTLE

Competitive (Micro)- Porters five forces

Internal environment- people, finance, power, culture, structure, tech etc

2
Q

What is your focus

A

What is the organisations output

Which industry

Global

Regional
Country

3
Q

Reasons for analysis

A

Assumptions about their environment affect how managers work

Analytical models help analyse managers contexts and enable you to question systematically

The assumptions that guide action
Whether they accurately reflect the context
Possible alternative views
The limitations of any one view

4
Q

Political environment

A

Less predictable than other external factors

Governments are democratic (more transitory) or authoritarian (less transitory)

Gov aims to control economy and plans how to use their resources
Aims to provide productivity and a positive BOP
They do this my making laws and employing policies
Restricted by terms of office, stability and resources available

5
Q

Control of the economy

A

Command - all production and trade controlled

Mixed- some production controlled but most demand led

Free market- all production is demand and supply led

6
Q

Economic elements to consider

A

Welfare

Productivity

Growth

7
Q

Economic policies

A

Fiscal

Monetary

Supply side

8
Q

Government economic reorganisation

A

Changes that are made to meet new demands

Some industries naturally decline so organisations need to be encouraged to move into new growth industries

Organisations who invest in new tech generate productivity and drive econ growth

Training should be encouraged to make sure the labour can respond to changes

9
Q

Scarcity

A

Infinite wants limited resources to satisfy

What to produce
Who to produce for how and where to sell it

10
Q

Open economy

A

Money out
Imports
Gov tax

Money in

Exports
Gov spending

11
Q

Economic measures

A

GDP

GVA (gross value added) -GDP less indirect taxes plus subsidies on goods

GNP -

12
Q

Social

A

Demographics

Culture

Societies primary needs

Society structure

Education

13
Q

Technological

A

Leek of tech affects business opps

Comms need an infrastructure to support it

Tech advancements need money to be developed and support for their adoption

14
Q

Ecological or environmental

A

Main concerns about environment

Laws?

Active groups

Attitudes to ethical behaviour