Zusammenfassung der Ressource
37. Introduction to external influences
- The impact of external influences on
firms
- Some external influences have a favourable effect on firms. e.g
SAGA holidays specialises in providing holidays for the elderly and
the UK is currently experiencing an ageing population
- They can also have adverse effects. e.g cuts
on the police may force jewellers to spend
more on private security guards.
- New laws and
regulations
- i.e seat restraints for children.
Britax and Halfords benefitted.
- Demographic
factors
- Refers to change to the size, growth and age distribution of the pop.
- Immigration -> 2004, EU expanded. Rented -> house prices
doubled. Kept wages in check. UK plumbers -> cut prices.
- Technological
factors
- Competition by hundreds of channels for ITV,
BBC, CH4. Also, advances in the internet =
new entertainment (YouTube)
- Created opportunities
(Google)
- Commodity
prices
- Internationally traded goods (oil, copper, wheat).
Oil prices affect cost of transport.
- Economic
factors
- No influence over economic growth, level of
unemployment, rate of inflation. Firms will also be
affected by government fiscal and monetary policies.
- What can firms do about external
influences?
- Make the most of favourable external
influences while they last
- However, ask 'what if'
questions
- Minimise the impact of unfavourable external
influences
- Successful firms make compensating
internal changes to offset external
contraints
- Improve internal
efficiency
- Issues for
analysis
- Regular customers =
predictable sales. Poor
managers may drive them
away.
- Whole existence can be thrown into
question e.g HMV.