Yr 12 Business Studies Assessment
Yr 12 Business Studies Assessment Task 2
HOW DOES AN UDERSTADING OF THE INFLUENCES ON OPERATIONS CONTRIBUTE TO BUSINESS SUCCESS?
Many factors contibute to a businesses success. However, in order for the business to actually succeed, we first need to understand how the influences on operations help the business succeed. Influences on business operations include such things as; Globalisation, technology, quality expectations, cost-based competition, government policies, legal regulation, environment sustainability, corporate social responsibility, supply chain management, overcomig resistance to change, outsourcing and product or service design. The success of a business can be assessed by a range of different factors including; Operational …show more content…
These factors provide insights into behaviour, tastes, and lifestyles patterns of a population. Buying patterns are greatly influenced by the changes in the structure of the population, and in consumer lifestyles.1. http://www.businessteacher.org.uk/business-environments/global-factors-strategy/. Age, gender, wealth, etc all influence the buying patterns and understanding of such changes is essential in order to develop strategies which are in line with the market situations. In the global market it is important that when business strategies are put together the different cultures and societies are taken into account. Religion, language and lifestyle patterns of consumers are all important information for successful business …show more content…
A rise in living standards would ultimately imply an increase in demand for products thereby, providing greater opportunities for businesses to make profits. An economy witnesses fluctuations in economic activities. This would imply that in case of a rise in economic activity the demand of the product will increase and hence the price will increase. In case of reduction in demand the prices will go down. Business strategies should be developed keeping in mind these fluctuations.2.http://www.businessteacher.org.uk/business-environments/global-factors-strategy/. Other factors that would influence a business are changes in interest rates, wage rates, and the rate of inflation. In the case of low interest rate but increased demand businesses will be encouraged to take a risk. Therefore there is need for room for these fluctuations in business strategies.
POLITICAL FACTORS: Political factors are changes made in government and government policies. These factors greatly influence the operation of a business. The government and their polices have a huge influence on the regulation of businesses and they control the spending power of consumers and other businesses. A business must consider the stability of the political environment, government policies on the economy,
HOW DOES AN UDERSTADING OF THE INFLUENCES ON OPERATIONS CONTRIBUTE TO BUSINESS SUCCESS?
Many factors contibute to a businesses success. However, in order for the business to actually succeed, we first need to understand how the influences on operations help the business succeed. Influences on business operations include such things as; Globalisation, technology, quality expectations, cost-based competition, government policies, legal regulation, environment sustainability, corporate social responsibility, supply chain management, overcomig resistance to change, outsourcing and product or service design. The success of a business can be assessed by a range of different factors including; Operational …show more content…
These factors provide insights into behaviour, tastes, and lifestyles patterns of a population. Buying patterns are greatly influenced by the changes in the structure of the population, and in consumer lifestyles.1. http://www.businessteacher.org.uk/business-environments/global-factors-strategy/. Age, gender, wealth, etc all influence the buying patterns and understanding of such changes is essential in order to develop strategies which are in line with the market situations. In the global market it is important that when business strategies are put together the different cultures and societies are taken into account. Religion, language and lifestyle patterns of consumers are all important information for successful business …show more content…
A rise in living standards would ultimately imply an increase in demand for products thereby, providing greater opportunities for businesses to make profits. An economy witnesses fluctuations in economic activities. This would imply that in case of a rise in economic activity the demand of the product will increase and hence the price will increase. In case of reduction in demand the prices will go down. Business strategies should be developed keeping in mind these fluctuations.2.http://www.businessteacher.org.uk/business-environments/global-factors-strategy/. Other factors that would influence a business are changes in interest rates, wage rates, and the rate of inflation. In the case of low interest rate but increased demand businesses will be encouraged to take a risk. Therefore there is need for room for these fluctuations in business strategies.
POLITICAL FACTORS: Political factors are changes made in government and government policies. These factors greatly influence the operation of a business. The government and their polices have a huge influence on the regulation of businesses and they control the spending power of consumers and other businesses. A business must consider the stability of the political environment, government policies on the economy,