Ethic/Cultural Factors
What is Mc Donalds selling in Korea?
What is a shrimp burger
Is it true that a busniess can not be affected by the political climate it operates in?
False they will fail if they dont change becasue of the political climate.
What do businesses do to help parents have more time?
Businesses have daycares and other services to help parents focous on work and not there kids.
What are discrentionary items?
Products that are wanted but not needed
What is the upside of outsourcing?
They save more money and can put more time into producing more products
Are businesses regulated by other agencies?
Yes most busniesses are regulated by an agencie that over sees all busnesses in that catagory
Do businesses need to pay attention to what the new trends are or can they just forget about them and stay the way they are?
They need to stay up with the new trends becasue if they dont they will be forgotten becasue the businesses that keep up with the trends will stay on top.
What are the 5 main things that affect how much consumers pay for products?
Economic growth, inflation, interest rates, unemployment rate, changing incomes.
Define an ethnic/cultural factor in business?
What is the rapid and unimpeded flow of capital, labor, and ideas across national borders
Can a bad Better Business Bureau and other orgiaions related to the Better Business Bureau rating affect a buiness badly?
Yes, a bad rating from a orgiaions like the Better Business Bureau can make a business shut down over time.
How do businesses change there social vaules about issues?
Businesses get inlvoed with charaity and help out smaller businesses.
Would housing and food companys suffer in slow ecomities?
Becasue they dont relie on sales to make a profit.
Define cultuar intelligence?
What is an undertsanding of and sensitivty to the differences in customs, traditions, and values that exist amoung cultures.
How can business regulate them sevles?
They can create an industy association that controls some part of the business.
What are some demograpics that can affect a buisness?
When baby boomers retire and downsize there lives businesses need to traget the younger generations and make products that they will buy.
Will there be more jobs in a slow or fast economy?
In the slower economy jobs would be more avalibe but would not pay as much as if they were in a good economy
What can culture affect in business decisions?
What is almost everything from product to price, promotion, place, and distribution
Can a business control how much they pay in taxes at the end of the year or does the government tell them how much to pay and they pay that amount?
All buisnesses need to pay what the goverment tells them to pay no matter what.
What do businesses need to consider when making dicsions and plans?
The external envoirment of the busniess.
Is it easier to get a loan in a good or bad economy?
Its easier in a good economy.