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Business Environment

My Distance Learning College

Description

All organizations, whatever their size and whether in the public or private sector, operate in a constantly changing environment. As it changes, this business environment offers organizations the opportunities they need to develop and grow. It may, for example, offer new markets to exploit, new technology to develop new products and new processes, ideas on how to manage operations better, new sources of raw materials or new ventures with new partners. The changes also, however, may present threats to organizations. These may be new competitors, changing fashions and tastes, new technology making existing products and processes obsolete, changing terms of trade making imported inputs expensive, and government policies changing the competitive or operating environment. The legal implications of what organizations do are extensive and varied; effectively, the legal infrastructure constrains their activities.

All successful organizations continually monitor the environment in which they operate, both formally and informally, in order at least to react to the changes taking place through reactive management. At best, organizations seek to anticipate and take advantage of changes through proactive management. Any actions need to match an organization's basic philosophy and its resources and abilities. We look at how an organization does this, but the first step is recognizing what is happening in the environment and evaluating its importance.

After participating in this course, you should be able to:

  • Monitor changes to the business environment and appreciate their significance for an organization
  • Identify potential environmental opportunities and threats for particular organizations
  • Describe the components of a PEST or STEEP analysis
  • Detail the structure of the social and demographic environment
  • Detail the structure of the economic environment
  • Identify relevant factors in the industrial environment
  • Assess the implications of government policies for an organization
  • Identify relevant factors in the political environment, including the law, society and international trade
  • Identify significant technological developments driving organizational and competitive change.


Outcomes

Business Environment Certificate

Business Environment Certificate issued by My Distance Learning College, entitling you to use the letters SAC Cert after your name.


Assessment

After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.

course quick facts
course code DED9391
cost $93.00
estimated time to
complete course
20 Hours
course materials
available
365 Days