business enterprise. These external factors are government factors, legal factors, physical factors and demographical factors. External environment or factors are also two types, micro environment and macro environment. Micro environment consist of suppliers, customers, market intermediaries, competitors and public. Micro environment is also known as operating environment. Another external environment or factors macro environment consists of non-economic environment, political environment, technological
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organisation and the strategies it employs to meet the objectives of the stakeholders (P1.3) 6 3. Nature of the national environment in which business operates (LO2) 9 3.1 How different economic systems attempt to allocate resources effectively (P 2.1) 9 3.2 Impact of Fiscal and monetary policy on the activities of Tesco PLC (P 2.2). 10 3.3 Impact of competition policy and other regulatory mechanisms on the activities of Tesco Plc (P 2.3). 11 3.3.1 Impact of competition policy ON THE ACTIVITIES
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the Operating Business Environment………………………………..…3 Introduction………………………………………………………………………………….3 1.1 Explain how economic systems attempt to allocate resources effectively………………3 1.2 Assess the impact of fiscal and monetary policy on “Lloyds Banking Group, UK”, and their activities………………………………………………………………………..5 1.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a “Lloyds Banking Group, UK”.....................................
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Question Innovation is an important component of economic policy. Discuss Answer 1.0 Introduction “Today, more than ever, INNOVATION is central of survival” (Peter Drucker). Innovation has been an important component for economic growth, national economic competitiveness and economic policy for many country. It can occur in any sector of the economy, including government services such as health or education. Supporting nowadays with the rapid growth of technology industries, many policymakers
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Planning involves setting up of ideologies for instance economic policies aimed at propelling the firm towards realizing its desired profitability levels. In most cases, planning involves intensive analysis of the current state of the firm, in order to find the point of weakness and strength within the organization. Also, external factors such as market trend, political stability, availability of labor and others are considered. The policies or ideologies set during planning must be pertinent with
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organisations | 3-4 | 1.2 | Describe to which extent Iceland Supermarket Ltd meets objectives of its different stakeholders. | 5-6 | 1.3 | Explain various responsibilities of Iceland | 7 | 2.1 | Different economic systems | 8-9 | 2.2 | Fiscal and monetary policy | 10-12 | 2.3 | Competition policy and other regulatory mechanism | 13-14 | 3.1 | Market structures determine the pricing and output decisions | 15-21 | 3.2 | Which market forces shape Iceland Supermarket responses | 21-22 | 3.3 |
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more. Hence an effective strategy is the only chance to overcome these problems. The strategy of British Airways includes the innovation in technological accessories, customers relationship, employee relationship, safety and security of stake holders and so on. Introduction: Any business has challenges from different elements like globalisation, information and technology, socio and cultural factors, political factors and so on. To meet these challenges a clear strategy is very crucial for any
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Formulation of national trade policies Present the major arguments in favor of and against governmental intervention in international trade Free trade: implies that national government exerts minimal influence on the exporting and importing decisions of private firms and individuals. Fair trade: suggests that the national government should actively intervene to ensure that domestic firms’ exports receive an equitable share of foreign markets and that imports are controlled to minimize losses of
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perfect competition; monopoly, monopolistic competition, and oligopoly—and the implications of the market structures for competitive strategies and profit maximization. You will participate in discussions that compare various market structures and their characteristics, evaluate the effectiveness of competitive strategies in market structures, and determine profit-maximizing strategies based on a market structure analysis. The topics incorporate Week One material related to market outcomes and prices
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The competitive advantage of nations: is Porter’s Diamond Framework a new theory that explains the international competitiveness of countries? A.J. Smit ABSTRACT The focus of this article is to clarify the meaning of international competitiveness at the country level within in the context of Porter’s (1990a) thesis that countries, like companies, compete in international markets for their fair share of the world markets. At a country level, there are two schools of thought on country competitiveness:
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