The political and administrative system in a country dictates policies formulation its implementation and control of business. Whenever there is a change in the political scenario of a country, there will be a change in economic policies. This is due to the fact that each and every political party does some promises with the people in their election manifesto. Business activities of a country are affected by the policies and directions, shelters and control exercised by the prevailing political system. The political environment of a country is influenced by the political organizations such as philosophy of political parties, ideology of government or party in power, nature and extent of bureaucracy influence of primary groups etc. political stability in the country, foreign policy, defence and military policy, image of the country and its leaders in and outside the country. The political environment of the country influences the business to a great extent
The legal environment refers to the principles, rules and regulations established by the government and applicable to people. These regulations come through various legislations. The government has passed and enacted various Acts. Now due to globalization of economy, it became necessary to make changes in these Acts.
Economic environment refers to the aggregate of the nature of economic system of the country, the structural anatomy of the economy to economic policies of the government the organization of the capital market, the nature of factor endowment, business cycles, the socio-economic infrastructure etc. The successful businessman visualizes the external factors affecting the business, anticipating the prospective market situations and makes suitable to get the maximum with minimize cost.
Minister of Finance and Planning Dr Peter Phillips moved yesterday to assure nervous Jamaicans and jittery international markets that a new International Monetary Fund (IMF) pact was on track for December.
“There is a delay in an agreement with the Fund. There is no negotiating,” Phillip told the House of Representatives. There is no sticking point on which ourselves and them (IMF) have a divergence of any fundamental views.
The social dimension or environment of a nation determines the value system of the society which, in turn affects the functioning of the business. Sociological factors such as costs structure, customs and conventions, cultural heritage, view toward wealth and income and scientific methods, respect for seniority, mobility of labor have far-reaching impact on the business. These factors determine the work culture and mobility of labor, work groups etc.
Ten Jamaican projects will today be presented with cash grants totalling $6.5 million by the Arthur Guinness Fund as part of its social outreach programme.
The top three recipients will get $1 million each while the remaining awardees will each receive half a million dollars.
“Jamaicans have always been entrepreneurial and helpful. That’s why Guinness sought 10 social entrepreneurs who embody this ideal and who are committed to making positive changes in their communities,” said Guinness brand manager Racquel Nevins.
The business in a country is greatly influenced by the technological development. The technology adopted by the industries determines the type and quality of goods and services to be produced and the type and quality of plant and equipment to be used. Technological environment influences the business in terms of investment in technology, consistent application of technology and the effects of technology on markets
The social planner desires for the public to enjoy the maximum surplus from participating in any market. In a market economy, however, suppliers have the discretion of selecting the quality and price of their goods and services. The dilemma faced by the social planner is how to direct economic activity such that merchants choose to supply high-quality goods at the most affordable prices.
Many are describing the latest developments in the telecoms sector as the beginning of a price war. While this description may be apt, it would be more instructive to appreciate what is unfolding as potent, demonstrable evidence of the importance of opportunity and incentives in social engineering.
On June 15, telecoms provider LIME introduced its Talk EZ Plan. Under this optional plan, prepaid mobile subscribers complete calls to subscribers on LIME’s mobile network for $2.99 per minute and to subscribers on Digicel’s mobile network for $6.99 per minute (pro-rated per second used).
This demonstrates that for consumers to benefit from participating in any market, suppliers must be given both the opportunity and incentives to offer high-quality services at the most affordable prices.
A published document that details the agreed common aims of a business so that managers and staff may work with a shared sense of purpose.
It is also a statement of the business’s core aims, phrased in a way to motivate employees and to stimulate the interest by outside groups.
The gain in sports can improve the economy in a very positive way. Hence, a mission statement is formulated.
The targets or outcomes that a business will attempt to achieve are its objectives. Overall corporate objectives might include survival, profit market share and growth.
S- Specific objectives of what the business does
M- Measurable the business can put value on the objectives
A-agreed by all those concern in trying to achieve objectives
R-realistic the objective should be challenging but also achievable by the resources
T- time/specific time bound they have a limited when the objectives should achieve
The gains in the sports have also makes objectives for which to be followed to improve the country’s business and economy.
Maintain good customer relationship
Promote communication to allow the public to be aware of the project that we are undertaking
To maintain sponsorship to charities and other Non-Profitably Organisation
Promote goods and services to foster growth and development
Employ a professional receptionist in the organisation so that customer service business will be effective
Advertise in the newspaper, television and other means of publication so that the public can be well aware of the various happenings
Employ a sales and marketing manager to gather information on the different charity events taking place and the need for sponsorship in the country
Production manager is mandatory to ensure that goods and services are provides at the best quality.
On the 29 of September a church ceremony was kept to start off the organisation activities
On the 1st of October 2012 Sheikhina Reynolds was employed as the new Receptionist in the Firm. Her main duty is to ensure that good customer service is provided at all times. Hence, been effective and efficient while on her job.
On the 5th of October the promotion and advertising was done. This was in aid for the public to be aware of the events and the good and services.
On the 10th of October sick a meeting was attended to confirm the Charity Events to be sponsored
On the 12th a Health Care Fair was kept for the community members.
On the 15th of October a donation was made to the government
The Divine Purpose, awesome and unimaginable, creates and sustains the universe. We cannot “know” that Purpose in the way we know other things. The Purpose cannot be formulated in words, because it abides beyond words, beyond images, beyond our minds, beyond knowing in the ordinary sense. If we could know the Divine Purpose, we would know God; indeed we may rightly consider God to be that Purpose itself.
Although we cannot know the Unconditioned Purpose, we may participate in it more or less consciously, more or less intentionally. The Sacred Purpose communicates itself to all of us through our intuition of the rightness of a course of action. Faced with a choice, we have an opportunity to do the right thing, to be responsible. Thus, by following our conscience, we enter into a partnership with the Great Purpose. We can follow our sense of appropriateness, rightness, and opportunity to pursue the spiritual path, to serve others, to serve the future.
Evaluation is a way of reflecting what is being done in the organization.
These were the methods used:
Analysis of records and data
Marketing objectives define what you want to accomplish through your marketing activities. There are several important factors to consider when establishing effective marketing objectives.
SMART Approach = Setting specific, measurable, achievable, realistic and time specific objectives
When setting objectives it is very important to ensure that your objectives are; specific, measurable, achievable, realistic and time specific, or SMART for short. The “SMART” approach allows you to effectively manage your marketing activities and importantly be able to determine how successful they have been and whether they have delivered the particular benefits sought.
The role of the customer in the firm’s marketing planning?
Marketing planning consist of coming up with marketing strategies that will help an organisation to accomplish its marketing objectives. Customer’s play a vital role in an organization’s marketing planning, as they are the core purpose of the firm’s marketing plans.
Marketing process is the process of analyzing marketing opportunities, selecting target markets, developing the market mix and managing the marketing effort. The purpose of marketing process is to increase profit, customer value and satisfaction in an organisation.
Brand equity consists of a firm’s brand power, its value, recognition, strength and reputation of the brand compared to its competitors. Brand equity is important, because it increase sales and popularity of a company.
Brand positioning is the process by which marketers create an image in their target consumer’s mind of the firm’s product or service, compared to their competitors.
Brand unique selling proposition
A brand’s unique selling proposition (USP) is the qualities of a product or service that makes it unique and different from its competitors.USP give the product a competitive advantage from its competitors.
Communication Objectives are important because they serve as a bench mark in. Planning and decision making While in decision making process communication objectives plays an important role , i.e. how to develop a campaign/media mix selection /and allocating budget to diff. elements Measuring results The success and failure are relative to the objectives u have defined. Good objective are those which are measurable.
Communication-based objectives. Sometimes marketers recognize that the prime role of IMC is to communicate and planning should be based on communication objectives. Specific objectives may be to: Increase the % of consumers in the TM who associate some benefit or advantage with our brand Increase the number of TA who prefer our brand over competitors Encourage the current user to use more frequently.
Communication strategies are common in the business world, where they are used as part of a business’ plan, detailing how to communicate with various groups of people. A single business may have multiple strategies for different categories of people, such as clients, investors, competitors, or employees. Some companies even have an internal communication strategy for communicating within the business itself. These strategies are used to determine things like what information to share with the clients or investors, as well as how that information should be presented.
Finance is the study of how investors allocate their assets over time under conditions of certainty and uncertainty. A key point in finance, which affects decisions, is the time value of money, which states that a unit of currency today is worth more than the same unit of currency tomorrow. Finance aims to price assets based on their risk level, and expected rate of return.
Means of Finance can be:
Loans from the Bank
Close Family Members
Other Lending Agencies
Sales 123436 Sales 128347
Less Return Inwards 6578 Less Return Inwards 6500
Opening Stock 12000 Opening Stock 9760
Add Purchases 10580 Add Purchases 11220
Less Closing Stock 9760 Less Closing Stock 7564
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more