TASK WORDS
Provide differences between the key ideas.
What is Distinguish?
A business must plan to meet local government zoning and building regulations. What macro environment factor does this belong to?
What is Legal and Government Regulations?
The operating environment is one part of which environment?
What is External Environment?
Refers to the shared principles and morals of a group of people or society
What are Values and Beliefs?
The network of suppliers from which the business purchases resources.
What is Supply Chain?
Provide detailed key facts about the key idea
What is Describe?
The disadvantages of this macro element are costly and time consuming.
What is Technological Development?
Customers, Suppliers, Competitors and Special Interest Groups.
What are Factors of the Operating Environment?
This environment comprises the broad forces, conditions and trends in the economy and society within which the business operates.
What is Macro Environment?
This environment has little control.
What is Operating Environment?
Provide a clear, detailed & understandable meaning of the key idea
What is Explain?
Overseas competitors and markets, offshoring labour, protection of intellectual property and exchange rates.
What are Global Issues?
Organisations formed by employees in an industry, trade or occupation to represent them in efforts to improve wages and working conditions
What is Union?
Influences that relate to economic activity in a country, region or the world
What is Economic Conditions?
They are both part of the External Environment but one has little control and the other has no control over the factors.
What are similarity and difference between Operating and Macro Environments?
Provide reasons why your idea is good.
You can use advantages to give your reasons ensure you link back to the question/case study why
What is Justify?
Improved sales, increased competitive advantage and better business reputation are the result of what macro environment factor?
What is Corporate Social Responsibility?
"If resources required are not on hand, then nothing can be produced" is a reason for what?
What is Critical Management of Supply Chain?
The growing use of tools, techniques or systems by businesses to solve problems or to serve a purpose in operations.
What is Technological Developments?
Lobby groups such as PETA can influence a business to change the way they operate and their business policies. True or False?
What is True?
Explain key features of the main point, theory or context. Specify how it may impact the given scenario/case study.
What is Analyse?
Unions, business associations, consumer groups and specific issue groups are factors of what operating environment?
What is Special Interest Groups?
Business owner will need to plan to produce a high-quality good or service at the lowest cost in order to what?
What is Achieve Competitive Advantage?
The managing a business in such a way that the broader social welfare of the community, including its employees, customers, suppliers and the environment, is taken into consideration when making business decisions
What is Corporate Social Responsibility?
The Operating Environment consists of factors outside the business. True or false?
What is True?