Unit 1.5 External Environment IB Business Management Goals for the Chapter Prepare a STEEPLE analysis of an organization Explain the consequences of a change in any of the STEEPLE factors for a businesss objectives and strategy
Impact of External Environment All businesses operate in an environment Environment in business refers to conditions external to the business. External environment is complicated What happens in the external environment is beyond the control of the business STEEPLE Current way to analyze Older Versions
PEST Political, economic, social, technological PESTLE - Political, economic, social, technological, Legal and Ecological STEEPLE Social, Technological, Economic, Ecological, Political, Legal and Ethical Political Ethical Legal Economic
Technologic al Ecological The Busine ss Social Impact of Changes in STEEPLE factors If something changes, will impact the business A STEEPLE analysis allows the business to
consider influences of each element on the business Most important influences determined Then a strategy can be developed to deal with changes. Common influences in a STEEPLE ANALYSIS Social Lifestyles; Social mobility; Demographics, Education, Fashions or tastes Technological
New technology; improved technology, infrastructure; Research & Development Costs Economic Economic or business cycle, rate of economic growth, rate of inflation, rate of unemployment, interest rates, exchange rates Ethical Corruption, transparency, codes of behavior, fair trade Political
Political stability, trade policies, regional policies, lobbying Legal Regulations, Health & Safety legislation, Employment laws, competition laws Ecological Depletion of renewable resources, organic farming, global warming, carbon footprints 1.5 Work
ToK Discussion To what degree are businesses limited in how much they can know about the external environment Look at STEEPLE analysis for Cats Store p. 63 Student Workpoint 1.8 Choose a type of business (some located on page 63); prepare a STEEPLE analysis. Practice Question page 64 China!!
How do businesses react? Must be flexible Must be willing to change and adapt Being an Early Adaptor Having First Mover Advantage A business must always be monitoring the external environment in order to change when needed.
Write a one page journal entry about your experience.You should include details about where you are, what kind of music you are listening to and how you feel.Also, talk about how this unifies you and the people around you.
(3 - 5 sentences) 2. Exposition: Give background information Introduce the conflict, setting, and characters (set the scene) Thoughts and feelings 7 sentences Types/Samples of Hooks Types of hooks: Quote - it can be a direct quote from a book,...
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Direct black retail ownership where identified. Indirect black ownership through institutional (mandated) funds. Retirement funds, long-term insurance policies and collective investment schemes. Measured on the basis of vested rights of identified black beneficiaries.
Update on Apprenticeship frameworks. England. BIS/NAS/SFA have agreed that the revised new hair and barbering qualifications will replace the current qualifications within the current SASE frameworks from the
Prof. Jan M. Rabaey Computer Science 252 Spring 2000 "Computer Architecture in Cory Hall" CS 252 Course Focus Understanding the design techniques, machine structures, technology factors, evaluation methods that will determine the form of programmable processors in 21st Century Related...
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