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THE BUSINESS ENVIRONMENTByte size learning skills course of 1 comprehensive
session
All
organisations, whatever their size and whether in the public or private
sector, operate in a constantly changing environment. As it changes, this business
environment offers organisations the opportunities they need to
develop and grow. It may, for example, offer new markets to exploit, new
technology to develop new products and new processes, ideas on how to
manage operations better, new sources of raw materials or new ventures
with new partners. The changes also, however, may present threats
to organisations. These may be new competitors, changing fashions and
tastes, new technology making existing products and processes obsolete,
changing terms of trade making imported inputs expensive, and government
policies changing the competitive or operating environment. The legal implications of what organisations do are
extensive and varied; effectively, the legal infrastructure constrains
their activities.
All successful
organisations continually monitor the environment in which they operate,
both formally and informally, in order at least to react to the changes
taking place through reactive management. At best, organisations
seek to anticipate and take advantage of changes through proactive
management. Any actions need to match an organisation’s basic
philosophy and its resources and abilities. We look at how an organisation
does this, but the first step is recognising what is
happening in the environment and evaluating its importance.
After participating in this course, you should be
able to:
-
monitor
changes to the business environment and appreciate their significance
for an organisation
-
identify
potential environmental opportunities and threats for particular
organisations
-
describe
the components of a PEST or STEEP analysis
-
detail the
structure of the social and demographic environment
-
detail the
structure of the economic environment
-
identify
relevant factors in the industrial environment
-
assess the
implications of government policies for an organisation
-
identify
relevant factors in the political environment, including the law,
society and international trade
-
identify
significant technological developments driving organisational and
competitive change.
Course Content
Introduction
Objectives
Section 1: Environmental Opportunities and Threats
Introduction
1.1 The organisation and its environment
1.2 Environmental analysis
Summary
Section 2: Social Environment
Introduction
2.1 Demographics and organisations
2.2 Social structures and behaviour patterns
Summary
Section 3: Economic Environment
Introduction
3.1 Macroeconomy and governments
3.2 Industrial environment
3.3 Changing economic policies
Summary
Section 4: Political Environment
Introduction
4.1 Politics and power
4.2 International business environment
4.3 Environmentalism and social responsibility
Summary
Section 5: Technological Environment
Introduction
5.1 The new industrial revolution
5.2 New products and processes
Summary
Unit Review Activity
Unit Summary
References
Recommended Reading
Tutor Marked Question Paper
Qualification:
Certificate of Completion in The Business Environment |
