External Environment: Introduction (GCSE) . For instance, changes in attitude towards health, or a greater number of pensioners in a population. Legal . For instance should it trade with countries which have a poor record on human rights. Markets are changing all the time. It does depend on the type of product the business produces, however a business needs to react or lose customers. Some of the main reasons why markets change rapidly: Customers develop new needs and wants. New competitors enter a market. New technologies mean that new products can be made. BUSINESS ENVIRONMENT IN CHINA: ECONOMIC. Understanding Human Behavior and the Social Environment, 6th ed. The social environment 12 Interactions between micro systems and macro systems 12. External Environment: Introduction (GCSE. A social benefit is where a business action leads to benefits above and beyond the direct benefits to the business and. The natural environment. Business environment is the sum total of all factors external to the business firm and. The social environment of business includes social factors like. A world or countrywide event happens e. Gulf War or foot and mouth disease. Government introduces new legislation e. Businesses will need to adjust their products to meet these changes, e. These are the way they act towards the different parts of society that they come into contact with. Legislation covers a number of the areas of responsibility that a business has with its customers, employees and other businesses. It is also important to consider the effects a business can have on the local community. These are known as the social benefits and social costs. A social benefit is where a business action leads to benefits above and beyond the direct benefits to the business and/or customer. For example, the building of an attractive new factory provides employment opportunities to the local community. A social cost is where the action has the reverse effect . These extra cost and benefits are known as externalities . They also discourage social costs with fines, taxes and legislation. Pressure groups will also discourage social costs. Business strategies for sustainable development. Commission on Environment and Development. Factors Influencing the Social Environment in an Organization. The social environment of any organization is heavily. Business Pundit; When Social Issues.
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January 2017
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