Top-Rated Free Essay
Preview

Political factors affecting business

Satisfactory Essays
340 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Political factors affecting business
POLITICAL FACTORS AFFECTING BUSINESS
Monitoring, understanding, and adapting to the political environment is absolutely essential for any business, because it significantly affects every apect of their working.
Some political factors includeisPOLITICAL FACTORS AFFECTING BUSINESS
Monitoring, understanding, and adapting to the political environment is absolutely essential for any business, because it significantly affects every aspect of their working.
Some political factors include
• Stability of the government
• Government type- monarchy, democracy, theocracy, etc.
• Economic policy of the government
• Trade policy
• Diplomatic events in surrounding countries
Furthermore, political context can change for the foreseeable future.
POLITICAL FACTORS AFFECTING BUSINESS
Monitoring, understanding, and adapting to the political environment is absolutely essential for any business, because it significantly affects every aspect of their working.
Some political factors include
• Stability of the government
• Government type- monarchy, democracy, theocracy, etc.
• Economic policy of the government
• Trade policy
• Diplomatic events in surrounding countries
Furthermore, political context can change for the foreseeable future.

POLITICAL FACTORS AFFECTING BUSINESS
Monitoring, understanding, and adapting to the political environment is absolutely essential for any business, because it significantly affects every aspect of their working.
Some political factors include
• Stability of the government
• Government type- monarchy, democracy, theocracy, etc.
• Economic policy of the government
• Trade policy
• Diplomatic events in surrounding countries
Furthermore, political context can change for the foreseeable future.

POLITICAL FACTORS AFFECTING BUSINESS
Monitoring, understanding, and adapting to the political environment is absolutely essential for any business, because it significantly affects every aspect of their working.
Some political factors include
• Stability of the government
• Government type- monarchy, democracy, theocracy, etc.
• Economic policy of the government
• Trade policy
• Diplomatic events in surrounding countries
Furthermore, political context can change for the foreseeable future.

POLITICAL FACTORS AFFECTING BUSINESS
Monitoring, understanding, and adapting to the political environment is absolutely essential for any business, because it significantly affects every aspect of their working.
Some political factors include
• Stability of the government
• Government type- monarchy, democracy, theocracy, etc.
• Economic policy of the government
• Trade policy
• Diplomatic events in surrounding countries
Furthermore, political context can change for the foreseeable future.

You May Also Find These Documents Helpful

  • Powerful Essays

    The political environment affects the economic environment of businesses. It has been shown that elected officials may provide incentives or tax breaks to companies or impose regulations that restrict business transactions or locations. The International Research Centre (IDRC) states that businesses “need to understand the relationship between…

    • 1412 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    The trends of economy and politics play a role in the organization’s environment, such as the outside factors of an organization that can affect the operation of business. This would include the current events, available workforce, technology, and other organizations. And as the times change, the resources changes with it. Couple decades ago the times where good for what it was, but now days, with the recession times are good for some and not good for others. The recent layoffs, foreclosures, and natural disastrous, in the past few years has not helped a…

    • 346 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Using accurate information is the best possible approach for companies to monitor the situation and react according to how events unfold. But even if all the ‘important’ data is collected, it will only be advantageous…

    • 3336 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    Social and political upheavals have led organizations to change the way they conduct business and encouraged their members to think globally.…

    • 1858 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Political-Legal factors include discrimination, consumer, antitrust, employment, and health and safety law. They also include how and to what degree a government intervenes in the economy. Specifically, political factors include areas such as tax policy, labor law, environmental law, trade restriction tariffs, and political stability. These factors can affect how a company operates, its costs, and the demand for its products. Political…

    • 1551 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Describe briefly the aspects of a business environment that need to be monitored as well as the…

    • 466 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Lloyd, Joan. (July 22, 2001). “Building political savvy, in a good way.” In The Business Journal Service Greater Milwaukee. Retrieved August 30, 2011, from http://www.bizjournals.com/milwaukee/stories/2001/07/23/smallb2.html…

    • 2001 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    With the growing complexity of decision-making and the interdependence of business, political and social issues, effective management requires an understanding of not only the processes inside a company but also of the interaction of business, government and civil society.…

    • 2652 Words
    • 13 Pages
    Good Essays
  • Powerful Essays

    Power and politics within an organization revolve around staff and involves many facets of the organization including company resources, money, time and authority. Power is the ability of an individual or group to influence others to do what they want done. Politics is the use of techniques and tactics by an individual or group to achieve power and influence within an organization. Organizational power and politics are central to all organizations and they affect the behaviours within those organizations greatly. Understanding the effect of an organizations political system and the use of power and influence within the organization is essential in order to manoeuvre the organization towards its goals.…

    • 2116 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    Macro environment

    • 358 Words
    • 2 Pages

    definition of Kroon and which describe the macro environment, can be identified and examined. These There are a number of common approaches how the external factors, which are mentioned in the factors indirectly affect the organization but cannot be controlled by it. One approach could be the PEST analysis. PEST stands for political, economic, social and technological. Two more factors, the environmental and legal factor, are defined within the PESTEL analysis (or PESTLE analysis).…

    • 358 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    According to CCL's Jean Leslie, co-author of a research study on workplace politics and career derailment, here are six key skills to help develop your political savvy:…

    • 495 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    In order to be a good corporate citizen, a business must possess five responsibilities. These five responsibilities include the following: 1) High standards of business ethics; 2) Working the community as a whole; 3) Environment protection; 4) "Providing good corporate governance; and 5) Engaging in fair trade and business practices" (Good Corporate Citizen, 2007). Political competence is the ability to understand control, take action, agenda resistance, and who is on your side (Bacharach as cited by Cronkite, n.d.). There are three phases to being politically competent, and they include the following: 1) Mapping your political terrain, which means to identify your stakeholders; 2) Getting others on your side, which means to build your coalitions; and 3) Making things happen, which means to win others ' support (Cronkite, n.d.).…

    • 572 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Hr in China and Us

    • 538 Words
    • 3 Pages

    Advancement in companies is based on who you know AND what you know. In other words, employees have to be somewhat political to be successful.…

    • 538 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Political and legal forces are two of the three most important aspects for a business, with social forces being the third. Politics is a changing scene, and the rules and laws will change not regularly but often enough. Different elected parties have different feelings about certain business practices and use or alter the laws to change these.…

    • 349 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Pestel Framework

    • 343 Words
    • 2 Pages

    The PESTEL framework is designed to provide managers with an analytical tool to identify different macro-environmental factors that may affect business strategies, and to assess how different environmental factors may influence business performance now and in the future.…

    • 343 Words
    • 2 Pages
    Satisfactory Essays