Environmental Factors Paper
This paper will discuss the five environmental factors that influence global and domestic marketing decisions that organizations must make. The five environmental factors are social, economic, technological, competitive, and regulatory.
The social forces of the environment as defined in Marketing, include the demographic characteristics of the population and its values (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 74). This includes gender differences, buying patterns, diversity, culture, and attitudes. The Company refers to this factor as corporate citizenship. Corporate citizenship is one of core values and is integral to the companies’ expertise in flight and technology. knows that they have
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The U.S. Federal Aviation Administration (FAA) writes and enforces all the rules and regulations for aircraft manufactured or operated in the United States. It also operates the U.S. air traffic control (ATC) system. On safety matters, aviation is highly regulated. There are safety standards for airplane products, airline operations, airports, and airline personnel such as pilots and mechanics whose jobs can affect the safety of flight. Airplane manufacturers and airline operators typically exceed government standards. On the defense side, regulations come from federal organizations as International Traffic in Arms Regulations (ITAR) and the Federal Acquisition Regulations (FAR) and various others.
Is technology good or bad? This question is the root of a continuous debate on whether the effects of technology on society are more positive or negative. Technology has changed the world in so many ways, and certain inventions have made significant impacts on society. One of these inventions is the airplane, and the company has spent a fortune staying ahead of the technological curve. Technical change in a growing business is inevitable. Changes must take place in many chapters of each business in order to preventing it from going under. Through good marketing, organizations can continually change and control elements in this environment.
Ethical decisions serve as the primary basis for good corporate governance. Proper marketing ethics emphasize the
Telstra is one the most popular business organization. In this company, Ethics provide importance as following.
External and internal environmental analysis is a critical component for an organization seeking to achieve its goals. The follow information within this paper presents a complete external environmental and an internal competitive environmental scan for JetBlue Airways. The information provided identifies and analyzes the most important external environmental factor in the remote, industry, and external operating environments. When addressing external environment it speaks to a set of forces and conditions outside the organization that can influence its performance. The most common forces include political, economic, social,
Ethics, ethical values, and social responsibility should all work in unison in a corporate business structure. These key traits are better defined as maintaining overall good business morals, obtaining employees who possess personal ethical values, and finally to behave ethically and with sensitivity toward social, cultural, economic and environmental issues. For a business to better ensure these quality business traits a code of ethics should be adopted by the business. In the cases of Bernie Madoff and Enron, the most well-known financial scandals in history, I feel, gave a major hand in pushing business all across America to have and enforce the code of ethics.
The purpose of this paper is to evaluate the legality and ethicality of the corporate governance activities that occurred in an ethics case presented in the text. The paper will provide relevant details regarding the legality of the activities, the criteria by which Sarbanes-Oxley would apply to this case, the ethicality of the activities, whether or not the activities were equitable to internal and external stakeholders, and the next steps representing best interest of all stakeholders.
The ethical considerations for any company are highly valuable and by far the important aspect of any company or organization. The decisions that any CEO or manger would make will have a lasting and heavy impact on everyone that belongs to the organization. I do believe that any company or organization that wants to be known as a great company in the business world has to follow all regulations not only from where they operate but also within their own
Management is faced with many decisions when considering the environmental factors that affect marketing. This includes global economic interdependence, demographics, cultural differences, social responsibility, ethics, and technology. It is imperative for a company to understand how these factors can greatly affect the outcome of a company’s marketing plan.
In the business world companies will run into times that they have to make decision based on ethics. This outcome may not be illegal, but unethical, which is just as important when running a business. Business Ethics is the concept of distinguishing between right and wrong and then making the right choice. The right choice may not always be the easiest or best alternative for the organization financially, but it is the greatest option for the company and its shareholders overall. The idea of business ethics is important to create trust between consumers, the community, and others involved with a given organization.
products to suit customer’s needs, Coca-Cola was able to make a positive step forward in their
According to many scholars, the subject of corporate ethical decision making has many different avenues, such as what Zhong states “involves(ing) systematic and analytic deliberation” which also involve “intelligent choices”. While both
(Panza & Potthast, n.d.) Ethics is very important to a company’s success. Ethical behavior can bring benefits to a business. They can attract customers, which can lead to a boost in sales and profits. It can attract the right employees and increase productivity. It can also attract investors and keep the company’s share price high. Unethical behavior on the other hand can damage a company’s reputation and make it less appealing to stakeholders. It could also result in lower profits.
Ethics involve an individual's moral judgments concerning what is right and/or wrong. Individuals or groups of people are responsible for making decisions in an organization (shaw, 2008). Decisions within the organization are always emanate from the company's culture. However, the decision to act ethically and morally requires an individual judgment. Thus, members of staff are obligated to make decisions that reflect their right course of action (shaw, 2008). This involves rejecting the option that could lead to the greatest short-term gain. The leadership of most organizations stresses the need to adopt ethical behaviors and corporate social responsibility. Ethical dealings can earn the organization various benefits. For instance, it may attract more clients to the business thus boosting sales; employees could be motivated to stay longer in the organization thereby reducing recruitment expenditures. Ethical behaviors could also earn the business a favorable reputation that could attract investors. Categorically, a lack of social responsibility or unethical behavior may hurt the firm's reputation and scare away investors. Sales and profits could fall in the process.
This paper is aimed at identifying and highlighting the effects of environmental factors that affect YumYum Cola ability to serve its customer. This research will be focused towards the changes in political and cultural environment that can cause YumYum Cola to change its marketing strategies to hit the maximum targeted customers. The relationship between organization and environmental forces is a very important subject, which has been discussed in the field of business administration. Understanding the experience and behavior of people in the economic context has never been more important than now. Increasingly, more
The general environment is composed of segments that are external to the firm. Although the degree of impact varies, these environmental segments affect all industries and firms competing in them. The
Environmental issues are presenting themselves as temporary or permanent alterations to things such as the water, atmosphere and land because of human activities, which can have an effect and some impacts that may be either revocable or permanent. Social issues can develop in the place of work of a client's/investee's processes and possibly will also impact nearby communities. A client's/investee's presentation in the areas discusses in this essay can represent environmental and social jeopardies to the process. Companies are obligated to encounter an assortment of domestic and international laws and regulations applicable to environmental and social issues. For example, many countries have food safety regulations, building codes, air and water emission standards, product labeling requirements, workplace safety requirements and anti-corruption laws. Governments are continuing to enact new regulations and are also using legislated market mechanisms that influence corporate behavior and put an additional price on corporate activities. With that said, in this essay, Kraft is the company that will be recommended in taking actions to manage its environmental and social issues.
The economic and social factors play a crucial role in determining monetary climate that the business operates in and the nature of consumption habits that prevail within that particular area concerning lifestyles. These social aspects help a business organization to evaluate potential changes brought about by their products in the market. Evans and Richardson (2007), insist that an enterprise must factor in technological solutions that it can introduce within the market it seeks to establish itself and research initiatives it can introduce to help improve its operations. The environmental factors should be assessed to establish potential impacts of the activities carried out by the organization in the environment. It is important for any enterprise to be familiar to all