external factors affecting business
DESCRIPTION
http://www.business.govt.nz/tools-and-templates/educational-resources/external-influencers-in-business Learn about external influences on a business. Ask students what outside sources of pressure and influence could be applied to a business. Make a list of examples with the class. Ask students for an example of an ethical business and an unethical one, and start a discussion on how important it is for the students that businesses act in a socially responsible way. Have students study the topic handout individually before forming into groups of four for the quiz. Each team only has a few moments to discuss the question and give an answer. Give points accordingly for good ideas. For question 3 (List THREE ways that ethical business operations benefit business), answers can include: Improved reputation, Highly motivated staff, Increased efficiency and productivity, and Reduced costs. Ask students to use the topic handout and their own research to write a series of fictional newspaper articles on the three scenarios outlined in the worksheet: Dangerous supermarket produce, New restaurant with no disabled access, and Contaminating emissions. **Resources - www.business.govt.nz/tools-and-templates/educational-resources/external-influencers-in-business/External-Influencers-in-Business_Handout.doc - www.business.govt.nz/tools-and-templates/educational-resources/external-influencers-in-business/External-Influencers-in-Business_Student-worksheet.doc - www.business.govt.nz/managing/marketing/advertising/what-is-the-advertising-code-of-ethics **Sudent Handout External influencers in Business It may look like businesses have complete autonomy in the decisions they make, but in reality there are a host of ‘external influencers’ putting pressure on them. CUSTOMERS Customer demand and taste fundamentally guides what goods and services companies choose to provide. PRESSURE GROUPS Groups like Friends of the Earth and Greenpeace, for example, try to influence businesses that may have a negative influence on society and the environment. COMPETITORS The performance of competitors, and indeed the decisions they also make, can have great influence. GOVERNMENT The government legislates to make sure businesses meet certain standards and forms of compliance, such as tax and minimum wage requirements.TRANSCRIPT
External Influencers in Business
www.business.govt.nz
External Influencers…
…Are groups or elements outside a business that can influence its decisions by putting pressure on it
www.business.govt.nz
• Customers
• Pressure Groups
• Competitors
• Government
Types of External Influencers
www.business.govt.nz
Business Ethics
Business decisions can have far-reaching consequences
Being socially irresponsible can damage competitiveness
But businesses sometimes act unethically while remaining within the law
www.business.govt.nz
Ethical decisions…
…Can involve:-Pollution-Corruption-Workplace standards-Employee rights-Consumer health
www.business.govt.nz
Benefits of being ethical?
- Improved goodwill- Better reputation- Motivated staff- Increased efficiency and
productivity- Reduced costs
Find Out More
Facebook.com/business.govt.nzTwitter.com/business_govtNZLinkedin.com/company/business-govt-nzSlideshare.net/MED-Business business.govt.nz