...relocation and fashion trends as I see fit. The flexibility of ownership forces me to use creativity outside of the norm. Legal, Social and Economic Environments Casual Closet was established in 2009 by a couple who lives in the Suburb areas of Detroit Michigan. The couple opened this retail market in what is called a “Flea Market setting.” Because of the high rents associated with strip malls and shopping malls this was the most economical environment to start a new business. Casual Closet provides upscale urban wear for men and women at affordable prices. The store also carries handbags, scarves belts and a variety of fragrances. Casual Closet provides stylish attire for the consumer and the owners receive profitable income in exchange for a service that is being provided. The owners of Casual Closet would like to have the opportunity to expand in multiple locations and eventually in different cities. The basic legal environment of this retail store is to make sure that employees are treated fairly and the company follows the guidelines imposed by state, local and government authorities. Casual Closet is located in Detroit Michigan where companies have to establish the type of business that it is going to be. The different types of businesses are Sole Proprietorship, Partnership and Corporation. (Authority Direct) A company must establish the legal...
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...UNIT 4 IP | My life growing up | My life growing up in school and outside of school and the things I had to endure to get where I am today. My ups and downs, my pleasures and my downfalls. Everyone’s life is not the same. | | UNIT 4 I.P My life growing up was rough and very hard, going from school to school and from nice home to the projects. Getting bullied was an everyday thing in school and on the streets just about every day. From elementary to middle school, I was picked on. When I got to high school, a lot of things changed. But still I was moving from school to school. Then we moved once again to a new city and a new school. A new school and city brought new problems; a new face was always a victim to other people. So I joined a gang and became a follower to a leader. People stopped messing with me and left me alone. Then I started to get into trouble, which landed me in county jail for 18 months. After my release I started to think more about my future and what’s to come of me if I continue doing wrong instead of doing the right thing. So I finished school and joined the work force to stay out of trouble and keep busy. My past was no more and I was looking at the bigger picture of my future. 2000 I moved back to my home and got a better job. My job resume was looking pretty good from soldiering circuit boards, landscaping, cooking, stocking stores, washing and detailing cars, inventory many stores, loading and unloading trucks, moving company, janitorial...
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...Legal, Social, and Economic Environments of Business Tracy A. Cook American Intercontinental University Introducing a New Product The business environment consists of three ownership types. Sole proprietorship, partnerships (General and Limited), and corporations. Each will be discussed and defined. Each has its advantages and disadvantages. Both will be discussed. Introducing new products requires research, financing and learning the laws of business. I will also describe my new product and my decision will be discussed and why. INTRODUCING A NEW PRODUCT When starting a small business or introducing a new product there are three types ownership to consider. They are Sole Proprietorship, Partnership, and Corporation (Editorial Board, 2011). The first is sole proprietor. Which means the business is owned and operated by one person (or married couple that files taxes jointly). There are many advantages when considering this type, to include easy starting up and dissolving, complete control over decisions, and sole ownership of all profits. There are companies and corporations that started out as sole proprietorship. Wal-Mart (Editorial Board, 2011) started out this way and grew to be one of the biggest retail stores. Ebay was started by Pierre Omidyar (Director, Apr2006). In 1995 he set up a small internet site as an experiment. It quickly became one of the most popular sites on the...
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...The Legal, Social, and Economic Environment of Business Michelle Casey Introduction to Business Unit 1 Legal, Social, and Economic Environments of Business When a person decides to start up a business of any kind, they have to decide what type of business it is going to be. There are three major types of businesses; sold proprietorship, partnership and corporation (Griffin 2005). Before deciding which the best one for the business is, the owner needs to know what each one is and how it operates. A sole proprietorship is a business that is owned and operated by only one person. Anyone can open up a business as a sole proprietor as long as they have the means and know how to do so. A lot of the “mom and pop” stores throughout the United States are classified as a sole proprietorship. They tend to be family owned and are very personable with their clients or customers which appeals to consumers. A partnership is when two or more people get together and decide to start a business. They decided how it will operate and how the profits will be shared. Most partnership businesses have people who are skilled in different areas which help the business become more successful. A corporation is when a group of stockholders have ownership of the business. A corporation can be expanded very easily throughout the United Stated. They have more funding available to them then any other kind of business form. The banks are more willing to lend money to corporations mainly...
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...Legal, Social, and Economic Environments of Business Johnathon L. Olive American InterContinental University Online Abstract Johnathon Olive, the writer—was given a scenario to write about using the different types of businesses. He made a management decision regarding which business type he believed would be the most likely to succeed and why based on the scenario. He also listed advantages and disadvantages of each business type regarding the scenario. Finally, he acknowledged the issues and prior knowledge of manufacturing a new product. Legal, Social, and Economic Environments of Business Have you ever had a lot to say to a special person, but never knew exactly how to put it together in a nice, sweet conversation? I have, it’s quite frustrating—I must add. It’s the same feeling, when you come up with a great idea or invention, but you have no idea of how you should go about getting your invention up off the grown and running. This will be based off a scenario of an inventor who enjoys working around the home, cleaning, cooking, and doing minor home repairs and remodeling. You have to consider how much knowledge you have on manufacturing a product, advantages and disadvantages of each business type, and making a management decision regarding which business type you believe would be most likely to succeed and why. How much knowledge do you have on manufacturing...
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...What I Have Learned During and After My Presentation By: Isaac Abraham This class help me in a few ways about presentation skills and just presenting yourself in general. I think it’s important that a person presents his/herself in the way he/she wants to be viewed by others. Everyone should want to be viewed in a positive light so in order to do so you must present yourself in a positive way. If you pay attention at any job or place you’ve worked and have seen someone get promoted it’s usually because of how he presents himself daily. By that I mean appearance, attitude towards job, work ethic, and communication skills. If you want to be promoted or acquire a position at a good company it is important to know how to present yourself in a short and long period of time in front of important people. During my presentation in this class I was a little nervous but I did the best I could do at the time. I think it was a great experience and helped me to be more prepared, organized, and confident in presenting myself. I used situational awareness in my speech by trying to sound professional in a serious voice tone. While observing others I was thinking I should have asked questions to the audience during my presentation to engage the audience more. I noticed the other presentations were more organized and this led me to think I should prepare more for things in general. I was influenced by the other classmates presenting the careers and areas of profession and learned quite a...
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...Focusing on just two external environmental areas from the economic, social, political and legal environments, analyse the key forces and trends that have taken place within these two environmental areas over the past decade. Introduction Marketing concept as outlined by Kotler and Levy (1969), is perceived by most as an undertaking to find and stimulate buyers to achieve a firm’s goals. The process entails product development, pricing, distribution, communication as well as continuous attention to the changing needs of the customers, and the development of new products to meet these needs. The implication of this change is that an organization is inevitably influenced by, and has to react to what happens outside the business. There are several external environments that may impact an organization, including economic, social, political and legal factors. Organizations utilize environmental scanning processes to focus on identification of emerging issues, situations and potential pitfalls that may affect an organization’s future (Albright, 2004). Analysis of the economic environment The economic environment is very dynamic and complex in nature and is influenced by the purchasing power and spending patterns of consumers. The economic environment is also shaped by rates of unemployment, inflation, gross national product, trade cycles, economic resources and exchange rates. Information relating to economic trends or forces can enable organizations to prepare for changes...
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...Unit 3 IP JAMES FLOWERS American inter-continental university online Professor Hannon Microsoft While Microsoft has been very successful in providing the Windows operating system to PC makers as well as the Office Suite there is growing competition from Apple in terms of both the consumer market and the corporate market. The Apple Mac OS is now becoming a viable contender in both markets. However, in terms of the quickly growing and ever expanding mobile market Microsoft has done very little to win over handset makers and create an environment in which individuals are writing apps for their platform. In this case Apple has become the predominant leader and the standard methods of competing are not producing the results needed to remain competitive in the long-term market. For this reason I would recommend that Microsoft make a significant departure and start writing apps for the Apple IOS platform. While it may seem counterintuitive to develop apps that will run on other hardware Microsoft is currently faced with the issue of taking a beating in terms of the app market. Creating apps that run on iOS will allow Apple users to see the Microsoft products that are available and hopefully create additional revenue such that they can fund and create new opportunities in their own potential app store for Windows based phones. This is basically the last significant chance Microsoft has in order to salvage the potential...
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...political, legal and social factors effect the business activities and the stakeholders of the organisations described in P3 & P4. (Drayton Manor and your chosen Charity). Business activities should include any activities carried out by the organisation to achieve its purposes. Describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders (P6) • Select at least three business activities from those you identified. • Analyse how each of these has changed because of political, legal and social aspects of the business environment. (Why has the activity changed and how and why has this affected the organisation?) Analyse how political, legal and social factors have impacted on the two contrasting organisations (M3) Make a list of your selected organisations aims and objectives. Evaluate how future changes in economic political, legal and social factors, may affect the strategy of the organisation. Evaluate how future changes in economic, political, legal and social factors may affect the strategy of your organisation. For each factor you will need to research future changes. (E.g. economic – inflation; new laws; government changes; social change) For each aim and objective you have identified recommend a strategy for how your organisation might achieve it. Justify your reasons for recommendation Evaluate how future changes in economic political, legal and social factors...
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...ics Economics as a Science and its relevance to Law Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth. It is the condition of a region or group as regards material prosperity. It is the social science that analyzes the production, distribution, and consumption of goods and services. Now the Question is whether Economics is a science or not? Economics is a science that treats of those social phenomena that are due to wealth getting and wealth using activities of Man. The word ―Economics‖ is derived from the Greeks word ―Oikonomos‖ which means to manage the house. So it means the management of a household especially in those matters, which are relating to the income and expenses of the family. After sometime, political economy term was also used for this topic and slowly political economy adopted the shape of Economics. There are numerous definitions of Economics offered from time to time but there is no clear and concise definition. Keeping in view this situation J.M. Keynes has rightly, stated ―Political Economy is said to have strangled itself with definition.‖ However, Economics is considered to be a science as well as an art. Some of its features like, self corrective nature, systematic body of knowledge, own laws and theories, universal validity of its laws (law of demand, marginal utility, law of diminishing returns etc) support economics to be a science, but its other features like lack of predictability and lack of...
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...and making sure nation-states adhere to the rules laid down in the trade treaties signed by WTO member states. International Monetary Fund (IMF) and the World Bank (WB) were both created in 1944 by 44 nations that met at Bretton Woods, New Hampshire. The IMF was established to maintain order in the international monetary system; The WB was set up to promote economic development. United Nations (UN) – was established on October 24, 1945, by 51 countries committed to persevering peace through international cooperation and collective security. International trade occurs when a firm exports goods or services to consumers in another country. Foreign Direct Investment (FDI) occurs when a firm invests resources in business activities outside its home country. Stock of foreign direct investment – refers to the total cumulative value of foreign investments. Multinational enterprise (MNE) – is any business that has productive activities in two or more countries. International Business – is any firm that engages in international trade or investment. Chapter 2 Political economy – the political, economic, and legal systems of a country are interdependent; they interact and influence each...
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...November 2013 | 2nd December 2013 | Qualification | Unit number and title (Credit Value) | BTEC Level 3 Subsidiary Diploma in BusinessBTEC Level 3 Diploma in Business | Unit 1- The Business Environment Credit Value- 10 | | | Assignment title | | The aim of this unit is to give learners the fundamental knowledge of a range of business organisations, and the many factors that shape the nature of organisations operating in an increasingly complex business world. | | Assignment title | | The purpose of this assignment is to: 1. Know the range of different businesses and their ownership 2. Understand how businesses are organised to achieve their purposes 3. Know the impact of the economic environment on businesses 4. Know how political, legal and social factors impact on business. | ScenarioYou work for the Chamber of Commerce as a Business Adviser and have been asked to visit businesses in the local area to outline to them the variety of businesses which exist and to explain to them the factors which can impact businesses. | Sources of informationWebsites www.bized.co.ukbusinesscasestudies.co.ukwww.businessstudiesonline.co.ukwww.s-cool.co.ukwww.tutor2u.netBTEC Level 3 TextbookNotes & Handouts from Tutor | Criteria reference | To achieve the criteria the evidence must show that the student is able to: | | Task no. | | Expected Evidence in folder | Feedback | Criteria met...
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...2012 中国政法大学 Tristan Alberto Vaca Narvaja [THE LI AND THE FA ALONG CHINESE LEGAL HISTORY] China University of Political Science and Law 中国政法大学 An Overview of Chinese Legal System Introduction The purpose of this paper is to make an analysis about how the concepts of Fa and Li interacted between each other along the Chinese legal history, starting with a brief summary of the dynastic eras, and focusing in what we could call modern legal history, what I consider starts on the late Qing Dynasty. The analysis ends with the admission of China to the WTO, because I think that is a topic that deserves a whole new article for itself, and due to time limitations cannot be developed properly. The reason why I have chosen this theme is because I firmly believe that to be able to understand nowadays legal debates and legislation is necessary to have an idea about the broad historical and ideological Chinese framework. Along the more than 5.000 years of history, China has reinvented itself several times, learning from the hits and misses, unsurprisingly legal principles and legislation has followed the same stream. This papers starts with the genesis of the Li and Fa concepts, relating it with the Confucianism and legalism philosophies. Then, the each section illustrates an important period in Chinese history, emphasizing the situation of the law. Those sections comprehends, the late Qing dynasty, the republican era, the changes during the communist era, the application...
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...impact of the economic environment on business How economic environment affects different businesses Content The economic environment consists of External factors in a business' market and the broader economy that can influence a business. You can divide the economic environment into: • The microeconomic environment - which affects business decision making - such as individual actions of firms and consumers(Market size, Demand, Supply, Competitors, Suppliers and Distribution chain, such as retailer stores) • The macroeconomic environment - which affects an entire economy and all of its participants. Many economic factors act as external constraints on your business, which means that you have little, if any, control over them (Interest rates, Taxes, Inflation, Currency exchange rates, Consumer discretionary income, Savings rates, Consumer confidence levels, Unemployment rate, Recession and Depression) • Describe at least two economic environment micro or macro. • Comparison of two contrasting economic environment - challenges business face • Describe how political factors impact on business activities during an economic environment(recession) i.e. recruitment of staff • social factors impact on business activities i.e. ethics( the business social responsibility policy) and suppliers and distribution chain • and legal factors impact on business activities i.e. employment law during recruitment of staff • Compare and contrast the political and social environment...
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...Corporate Social Responsibility October 2, 2012 Pr. Katrina Kerr The definition of corporate social responsibility Introduction The corporate social responsibility ( CSR) seems to be came in the beginning of the millennium after so many wrong actions in past decades. May be, after the shock of scandals business such as Enron, WorldCom and Parmalat, also with the effect of weather change on the environment, all in consider have make many companies and organizations to rethink about their responsibilities towards their customers and stakeholders. Nowadays, business suggested that CSR is a normative, has different levels of concepts, which definition depends on many different of views and relationships, and changes in response to social directions (Silberhorn & Warren, 2007) . This study will examine how CSR is defined from different perspectives. There are different businesses see CSR from different concepts, they have their own trends. By looking at statement of missions of large companies publish on their web sites, we will find it explores their social responsibility and there view for their nation. Some businesses see CSR is about making profit. Unlike others businesses, attempt to do more than to make a profit (Struijk, 2012). Despite the fact that the main responsibility of a firm is to make a profit, in order to provide a product or excellent service that people are looking for. For example, some of companies could be responsible investing into some social activity...
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