Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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List and describe the three challenges in shaping policy. Support your answer with examples.
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- Forces Affecting Business in Today's Dynamic Environment The business environment consists of several factors that affect a business's ability to be successful and operate profitably. Creating the right business environment is the foundation for social benefits of all kinds. Businesses operate in a dynamic environment that consists of economic, technological, competitive, social, and global factors. Businesses normally can't control their environment or the changes that occur, but they need to monitor it carefully and do what they can to adapt to the changes. Read the descriptions of each company, then match it with the appropriate environmental force. 1 Global Social 3 Technological 4 Economic and legal 5 Competitivearrow_forwardDoes Air Canada incorporate a CSR perspective in their culture and strategic planning process?arrow_forwardApply Archie Carroll’s (1991) CSR model to the Future Plc business organization. Apply the four areas of CSR identified by Archie Carroll to Future Plc.arrow_forward
- What opportunities exist for business in addressing climate change?arrow_forwardList 3 three PESTLE elements for the sport of Waka Ama in New Zealand. How have these elements influenced/impacted the sport? These are in the broader marco environmental, out of the company's control. How will Waka Ama deal in the future? I am struggling to come up with three elements of the PESTLE analysis (political, economic, social/cutural, technology, and legal) that has influenced Waka Ama. Link about the company: https://sportnz.org.nz/resources/growth-of-waka-ama/arrow_forwardWhat are the key elements of a sustainable business strategy that enables companies to balance profitability with environmental and social responsibility in the current business environment?arrow_forward
- In your opinion, what are some of the most effective strategies for achieving sustainable competitive advantage in a global industry/market segment? Why do you think these strategies are effective? Are there any examples of companies that have successfully achieved sustainable competitive advantage in a global industry/market segment? What can we learn from these companies? How can companies stay up-to-date with the latest trends and developments in a global industry/market segment? What are some strategies for staying ahead of the competition?arrow_forwardThrough stakeholder analysis, how can I identify the key stakeholders affected by the current expansion of new bottling co in Texas and future-state goalsarrow_forwardMilton Friedman stated that "few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible." What are two arguments in support of his assertion and two against? Support: Non-Support:arrow_forward
- in an organisation what role does a personal policy play ?arrow_forwardIt is! With ethical questions in business, you can weigh different factors and consider: How the decision might affect the common good of society at large and the greatest moral virtues: prudence, temperance, courage, and justice. How the decision might affect our stakeholders and profitability; whether the decision is consistent with our company's values; and how the public would react if they found out about our decision.arrow_forward
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