9397639
Beschreibung
Mindmap von lucy blackman, aktualisiert more than 1 year ago
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Erstellt von lucy blackman
vor mehr als 7 Jahre
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TOPIC 3 - SOCIAL/TECHNOLOGICAL + ENVIRONMENTAL FACTORS
3.3/3.4/3.5
- MULTICOULTURALISM
- Some people with family origins elsewhere may not be able to
identify with the traditional ways of doing things in the UK –
and this means that there is a risk that they will be excluded
from using certain financial products and services
- Some people with family origins elsewhere may not be able to
identify with the traditional ways of doing things in the UK –
and this means that there is a risk that they will be excluded
from using certain financial products and services
- RELIGION
- In many religions, lending and borrowing money is seen as an acceptable activity
- Others, however, see debt as something to be avoided at all costs.
They believe that it is wrong to lend someone money if you charge
interest
- In many religions, lending and borrowing money is seen as an acceptable activity
- YOUTH CULTURE
- Term used to describe the values shared by people in their
teens and early 20's.
- Services are accessible online, using PCs and laptops, it is essential if providers are to supply the
financial services that young adults need to keep their finances in order.
- Term used to describe the values shared by people in their
teens and early 20's.
- GREY CULTURE
- Refers to the older section of the population – ie
those in late middle age and older stages in the
financial life cycle
- This group of people has specific
financial needs – for pensions,
insurance, savings accounts and
income-producing investments
- Refers to the older section of the population – ie
those in late middle age and older stages in the
financial life cycle
- CONSUMER CULTURE
- Is a society in which the buying
and selling of goods and
services is the most important
social and economic activity’
- Is a society in which the buying
and selling of goods and
services is the most important
social and economic activity’
- DEMOGRAPHICS
- play a key role in the way in which providers
design and market their products, because the
individuals can be grouped under a particular
demographic heading because they have
different wants or needs
- Demographics also tell providers a lot about the
financial solutions that a target population is likely
to need.
- play a key role in the way in which providers
design and market their products, because the
individuals can be grouped under a particular
demographic heading because they have
different wants or needs
- CULTURAL ISSUES
- Are about peoples ethnic and religious
back grounds as well as well as their
social groups.
- These cultural factors affect peoples approaches to financial services. also effect their needs wants
and aspirations and financial behaviour.
- Are about peoples ethnic and religious
back grounds as well as well as their
social groups.
- Using the internet, email and
smartphones means that relationships
are less personal
- Include matters such as increased automation, the rate of
technological change and the influence of technology on
outsourcing deciions.
- Technology can be of hekp in developing
customer relationship management systems
and risk management systems.
- Credit scoring is an example of an automated
way of making decisions about whether or not
to lend to someone
- Fincancial institutions routinely process information about
their customers, including the transactions on their accounts
and balances.
- The information can be used to detect any deterioration in an
account holders behavior long before their account actually
becomes overdrawn without permission.
- The information can be used to detect any deterioration in an
account holders behavior long before their account actually
becomes overdrawn without permission.
- Automation has had increasing speed and
efficiency and less face to face advice and
sales.
- they have been encouraged not to lend money to those companies whose products or production
processes are non-sustainable
- Banks are under pressure to make loans available on favourable terms to companies that invest in
developing green technology.
- Banks are under pressure to make loans available on favourable terms to companies that invest in
developing green technology.
- Insurance companies, similarly, can make a difference by
charging lower premiums to people with more fuel-efficient
cars
- environmental factors must be
considered in relation to sustainable
personal finances too.
- this is because the financial products and services that they buy will definetly have an
environmental impact
- this is because the financial products and services that they buy will definetly have an
environmental impact
- Investment bankers, and pension fund
and insurance fund managers, are being
asked to consider the environmental
records
- Many scientists and politicians believe
serious problems are occurring that are
bad for the long - term sustainability of the
environment.
- Many scientists and politicians believe serious
problems are occurring that are bad for the long -
term sustainability of the environment.
- Financial services providers are being
encouraged by regulators, government
and non-government agencies,
environmental campaigners and
pressure groups to make their products
more environmentally friendly.
- Changing perceptions of
environmental issues have therefore
affected individual finances in recent
years
- these affects have been positive and negative.
- these affects have been positive and negative.
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