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      • Operations >
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        • Role of marketing
        • Influences
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        • Role of Financial Management
        • Influences
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        • Role of human resource management
        • Influences
        • Processes
        • Strategies
        • Effectiveness
    • Preliminary Business Studies >
      • Nature of Business >
        • Role of business
        • Types of businesses
        • Influences
        • Business growth and decline
      • Business Management >
        • Nature of management
        • Management approaches
        • Management process
        • Management and change
      • Business Planning >
        • SMEs
        • Influences
        • Business Planning Process
        • Critical Issues
    • Economics >
      • Introduction to Economics >
        • The nature of economics
        • The operation of an economy
      • Consumers and Businesses >
        • Businesses
      • Markets >
        • Demand
        • Supply
        • Market equilibrium
        • Market structures
      • Labour Market >
        • Demand and supply of labour
        • Labour market trends
      • Economic Issues >
        • Economic growth
        • Unemployment
        • Inflation
        • External Stability
        • Distribution of Income and Wealth
        • Environmental Sustainability
    • Society and Culture >
      • Course Framework
      • Research Methods
      • P1: Social and Cultural World
      • P2 Personal and Social Identity
      • P3: Intercultural Communication
      • PIP
      • H1: Social and Cultural Continuity and Change
      • H2: Popular Culture - Social Media
      • H3: Equality and Difference
    • Geography (old syllabus) >
      • Coastal Management
      • Urban Growth and Decline
      • Human Rights
  • Contact

TOPIC 1: NATURE OF BUSINESS

Role of Business
Types of businesses
Influences
Growth and Decline


​Influences in the business environment

  • External influences: economic, financial, geographic, social, legal, political, institutional, technological, competitive situation, markets
  • Internal influences: products, location, resources, management and business culture
  • Stakeholders

Students need to be able to:
  • explain how changes in external influences have contributed to the tertiary, quaternary and quinary industries in Australia

External and internal influences

READ: 
  • External environment (tutor2u)
TASKS: 
  1. Devise a mnemonic for remembering the external and internal influences.
  2. Search newspapers for examples of external influences. 
  3. Explain how changes in external influences have contributed to the tertiary, quaternary and quinary industries in Australia.
  4. Assess the importance of internal influences on business, conclude with the one you think is most important, explaining why (approx 1 page).
  5. Select a small business and outline factors that impact upon its operation, distinguishing between internal and external factors. 
  6. Are internal or external factors more influential? Provide reasons in your answer. 

Stakeholders

Firms have a ripple effect on society, like a stone being thrown into a pond. The activities of a business has an economic, environmental and social influence on those connected with the business.
(Marsden and Andriof, 1998, Towards an understanding of corporate citizenship and how to influence it. Citizenship Studies
2:2, 329-352

Picture
Image source: ​http://learn.cxotransform.com/the-ripple-effect-on-stakeholders/
TASK: Define the term stakeholder.  Explain why businesses are not only responsible to its shareholders but also its stakeholders (1/2 page).
Growth and Decline
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  • Home
  • About
    • About
    • Education Blog
    • Writing Blog
  • Case Studies
  • Courses
  • HSIE Resources
    • HSC Business Studies >
      • Operations >
        • Role of operations management
        • Influences
        • Processes (overview) >
          • Inputs
          • Transformation processes
          • Outputs
        • Strategies
      • Marketing >
        • Role of marketing
        • Influences
        • Process
        • Strategies
      • Finance >
        • Role of Financial Management
        • Influences
        • Processes
        • Strategies
      • Human Resources >
        • Role of human resource management
        • Influences
        • Processes
        • Strategies
        • Effectiveness
    • Preliminary Business Studies >
      • Nature of Business >
        • Role of business
        • Types of businesses
        • Influences
        • Business growth and decline
      • Business Management >
        • Nature of management
        • Management approaches
        • Management process
        • Management and change
      • Business Planning >
        • SMEs
        • Influences
        • Business Planning Process
        • Critical Issues
    • Economics >
      • Introduction to Economics >
        • The nature of economics
        • The operation of an economy
      • Consumers and Businesses >
        • Businesses
      • Markets >
        • Demand
        • Supply
        • Market equilibrium
        • Market structures
      • Labour Market >
        • Demand and supply of labour
        • Labour market trends
      • Economic Issues >
        • Economic growth
        • Unemployment
        • Inflation
        • External Stability
        • Distribution of Income and Wealth
        • Environmental Sustainability
    • Society and Culture >
      • Course Framework
      • Research Methods
      • P1: Social and Cultural World
      • P2 Personal and Social Identity
      • P3: Intercultural Communication
      • PIP
      • H1: Social and Cultural Continuity and Change
      • H2: Popular Culture - Social Media
      • H3: Equality and Difference
    • Geography (old syllabus) >
      • Coastal Management
      • Urban Growth and Decline
      • Human Rights
  • Contact