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Changes in the business environment and their impacts on business strategies.
Member rating: No Rating | Words: | Submitted: Fri Jan 28 2005
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CHANGES IN THE BUSINESS ENVIRONMENT AND THEIR IMPACTS ON BUSINESS STRATEGIES. INTRODUCTION The external environment of a business involves all those issues which are currently important in the world in which the business operates. The external environment of a business affects all its decision. Changes in the business environment of businesses create both opportunities and constraints for the business. They stem from various sources including economic, social, technological, legal and political factors. Different firms will be affected by different factors, but all will be subject to economic changes. Markets and customers are volatile too. Markets are affected as much by fashion and fad as by economics. Customers are increasingly demanding, ever more fickle, and their loyalty to products and brands is harder to win, and then is more temporary than in the past. A host of external factor's act on markets can affect customers' willingness to buy. These include: economic factors...
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