Business Studies Notes For IGCSE

Businesses cannot survive by neglecting the “real life”, which includes affects that pushes a business to make certain decisions or constraints that limit or handles activities. Technological change: Services. Technological change: New production processes. Technological change brings about constant changes in consumer production and products processes. Through the use of R&D to build up services, companies could open up new markets and make large sums of money. Such companies include Microsoft, Apple, and Sony. However, new products quickly replace old ones just like how machines are replacing employees in production processes. Disregard the changes and operate in the “traditional and old-fashioned way”.

However, they can only sell to a limited and small market. Compete by welcoming changes and have access to huge mass markets. Services encourage customers to buy more. If a business comes up with a new product first, they gain an enormous competitive benefit. Fewer employees are required. New production methods can be adapted very which gives businesses more flexibility in meeting consumer wants quickly.

E-commerce starts up new marketplaces and the web is a medium of advertising. R&D is expensive, without assured success. Businesses that do not develop services will fail, leaving workers unemployed. New production methods and machines are costly. Employees shall need retraining which is expensive. They could be reluctant to learn or fear that they will not prosper.

This could lead to a fall in motivation. E-commerce lacks personal customer support. Smaller businesses cannot afford these simple things. Managers and Employees may fear change. Will I have the ability to operate the new machines? AM I GOING TO lose my job because the machines are better? Older workers are especially afraid of loosing out to younger and better-trained workers. Managers fear change also, since recruiting technology experts can make them look more inferior in some way.

To make these changes are better, employees need to be involved in the obvious changes. Workers might find out why the new machines are essential and exactly how they will be trained to use them, as well as permitting them to suggest ways to make work more efficient with the machines. It leads to more opportunities for trained and skilled staff and can lead to new ideas and products. Most businesses have competitors.

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What competition is doing? How they might react? When you create a successful product, other businesses will undoubtedly copy you. Therefore, you’ll need to analyze and develop more products even, keeping of them ahead. Competition is a major influence on business activity. Opinion A: Keeping the surroundings clean is expensive too. We want to keep prices low, which is exactly what consumers want too.

Protecting the surroundings is too expensive and reduce profits. Increased prices suggest increased costs. Firms could become less competitive in comparison to others who aren’t environmentally friendly. Governments should pay to clean it up. Opinion B: Individuals are now needs to prefer businesses with social responsibility. Cleanser and more efficient machinery advantage the continuing business in the long-run.

Environmental issues influence people and businesses have a social responsibility to cope with them. Burning up scarce resources leaves less for future decades and raise prices. Individuals are becoming more aware socially. More now prefer firms that are environmentally friendly which could become a marketing advantage. If an ongoing business damages the environment, pressure organizations could protest and harm its reputation and image.

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