Topic 1: Business Environments Flashcards
(23 cards)
The things your business can control.
Internal environmental factors.
The things your business can’t control.
External environmental factors.
Is the internal and external factors that affect the performance of the business.
Business environment.
Explain what Bill Gross thinks is the biggest reason why startups succeed.
Timing. Z.com tried to be an entertainment site when broadband and playback weren’t available yet, and it failed. Youtube did the same when they were, and it succeeded.
People did not think Airbnb would succeed because people don’t want strangers in their houses. But they started during a recession when people needed extra cash.
What kind of factor was ‘timing’ to z.com and Youtube?
External environmental factor.
Things that are external to the organization but have a direct impact, like customers and suppliers.
Microenvironmental external factors.
Things outside the organization that don’t have a direct relationship but still influence it, like the economy and legislation.
Macroenvironmental external factors.
What kind of environmental factor are the following:
investing in warehouse management system, investing in staff development, and ensuring recognition of staff performance.
Internal factor.
What kind of environmental factor are the following:
Being proactive to customers via online, store, and phone support; engaging strategically with partners to ensure goods are transported properly.
Micro-environmental externa factors.
What kind of environmental factor are the following:
invested significantly in product management, user experience and development to deliver a world class e-commerce experience (the technological aspect in the diagram).
Macro-environmental external factors.
Individuals, groups, or entities that are affect or are affected by the actions of an organization.
Stakeholders.
Stakeholders that have a direct relationship with the company (employees, owners, investors, etc.).
Internal stakeholder.
Stakeholders that don’t have a direct relationship with the company (public group, supplier, customer, etc.).
External stakeholder.
Stakeholders that define a business and are vital to its continued success (employees, customers, suppliers, shareholders, investors, community).
Primary stakeholders.
Stakeholders who may affect relationships with primary stakeholders; they are not directly involved but hold an influence to the business (environmental group pressuring customers to boycott products; competitors, inspectors and regulators, consumer groups, government, trade unions, pressure groups).
Secondary stakeholders.
Ownership in Maori organizations are based on what?
hapu (clan) and iwi (tribal)
Are Maori shareholders managed according to the rules in the Companies Act 2013?
No. They are managed through traditional communication methods resembling whanau processes.
How is engagement usually done in Maori organizations?
hui (meeting in person)
How are decision making and power bases defined in Maori organizations?
relationships and consensus building; usually aimed at improving the hapu or iwi rather than the organization’s financial outcome.
The largest single organization in the South island and owns many of the tourist and land development businesses (Shotover Jet, Dark Sky Project), etc.).
Ngai Tahu
In what way is Ngai Tahu’s approach to stakeholders different from many corporate businesses?
In corporate businesses, any investment or expense must be justified with increase in shareholder value. Ngai Tahu justifies investments and expenses through the benefits they would produce to the environment, the tribe, the next generation, etc.
Elements of things that might go wrong.
Risk.
