A Level Ste MUL MCR NCO 1 9 Business structure and size 19.1 Local, national and multinational businesses National businesses Multinational businessesange of diferescounties, Ter are amos expe of {oc opis x mulacre ike Fe, Toys, Hod Sn Vorngen cl compan lie Sel, PP and aos MoD {ectnlogy compan ine Google Mlerenfane Anz tral compas opr a gba sey are soe crescent fru line nd mts [Salo tought wal May bases ae ‘ulinlonat9 elo be chp Kier and wer urs ‘Salon denloingcomie aterm by ling hb ‘aves mato can ep the aang of conc {eae The oe in may mttaer ger roe ‘ela or mang ety ban exe oO we. posy meen aed bore ine yrs Base 8 fea enly ce efor ae rods Wl ems 0 lentes, by el vey mae, ed 1 be age every ge ogtetons. sec he Unie Nas a ‘reveal tt apposty 3509 bine ne wold an ‘ested a mult. The ges one Rodd of ese pani ron or abut 4 pe et of eran ae. “hese srs hey fen have onadere power and Intose and 2 est ave come nor sone ica lh ‘Ger ropeas eos oer inte coe iy Del) Pave (tensed mach tice and sone so tpn at Bear atvaye a Be Big a Multinationals under spotlight for tax avoidance & ne of te UK government's Ingen commines has al for toa empath ake usta sles leh Ux, bt pay te thre a2 a ae cre ont of om pb se low dona es olin [her Suopesn and Aan counties or meaner o ce porte tx aoiance. A namber of mon! Base, lncding Coe Col, Googe, Asaon ad Saucts, ave nen tony ised fr operating pier rece dared rts aad papa capac tes on ese poi. atc ns ecved math adver pbly fer ony ecards 1 pein coe of ist 15 ye ming in he Sal ‘Gola as bon ese y the ates i Vitam at hasbeen vexed by x aos. “he Ui goverment abl Assn Cosme MC) mid ltatthe governess sing aes ‘terede compan tx ily ar wel = working wh er ‘lb conan with ge pesto be UK poeaing Sine ation of nea ze ating avy wh ing le (rom enpertion echoes ug! ed, wo chaste he." w aungeon, sod ano Beh baer ad Indians wo py hi Se Questions 1 Bap why ennaooal companies 2s Coola {eee ale ake Haha ro mao an hese ‘ta open ins ani cou. ® 2 nahn the pone consequences othe UK Vea "fptnaterale seh as Googe ic-ol ae fend ‘pay hgherns of tbe 8a Why do companies want to become multinationals? Ferny cmp in evn might one eh he teams bcd i de comer {Saker sep ela ty pricy aa ‘mmo tee ‘Sonat ais pw may pa Sasa Tote tel oy matey agin en Tt Telopriuir aarieoe tinue Sarcop smog Sac sf nw mei or eT iy Soren aman aner y Secs mel, meer cn deh semen Thom may ee snag ost nin es tow theca Hy com te gee son cee ‘coun ww tow cose emo orca ‘Sts rotenone be Sn: ow pin cos. The case for and against multinationals ‘The ates of nations companies ave traced ot aetna the dover oe ye a ave proved ‘rong elon amor sleol ous The advantages of multinationals to host countries 1 Economic grow 04 employment Nbrwoss eg fEmegn event contest ae note bone Die IFthey chor expan by bung prodocien fies they wi be bong ovesten ina scour rca ounployticas wl Peling he e g fc Thanet whi ppy hem wih goods and sacs The ‘ocr th nveaent mgt be son esl or ping {coun espe fom pve o a in promoting esnome “esclopnens inthe cite mBb enc stactse eae + sti production techaique and improvements inthe {tality of te weeors can anu oe icone ‘ig whe ow Heat nd i ecgus tt an Bp {Simone ne ty of poaton she boo he ey bum cp a eet ou, May nt elk {© ep lel bor bur ako provide bam nah rng nd ‘se ls top he ingen potty ae ice, 4 Aosta of quality goods and service in he host ‘Sountry In sone ses 2 tials protucion in rer ouny maybe primey aimed tte expo. Pats Howere ober ne, ch he lsat robin may be sas at ona the oe ‘ich the prods ar prodiced inte cae of my “ans cr anaes, he ovement made US oducn has ble them to get = otal i the open ‘Gon ant 0 te bar Consumes inthe UR ve Tad aces igh culty vei a chee ree he ‘Soin ar eta ae edt prone ting races, res nd culty cer ete nse. ‘+ Tinprovenent in nratracare ination the est ins cua inpredozon ods ss oan ig ao sen ananassae, {a pavandcormenons eters Thea rove en rth le oun ina cess plore at ‘nels pointed sf Tonia The disadvantages of multinationals cmp toe unt compen a Sarat coe Shee o nn maybe mir Pica toa elena ey pg ee ee ee SET ante cep ey orn Salman nett peivcen wg le fom Satie ay ta dectecectberene rie Somcegenicon seit oraenya + STEAL eon Ts nea fy nie SEUNG eoiors nese es aut cgonon epee pea. eee attcen a) ner cetoe Sins iagenderee enced erect een Sins enna ser = Rota acceso ans Soi prc un ster ara esteem matt mat tes ‘ey noonoue tegee peso mea chai cca Se ee eiecupnamenele soe te aoe ct Sm pec at ang etl Sackett whence eck ove 28 + Pros eaving the hot conatey Prot ight go bck che esse ofthe mutinaos!aertan being eed teh cay, Ten ed ler eof ployed GDP ah oe cone an it have been cape. 19.2 International trading links ‘ive certs sont Deusen Tw Abie room oeperatin pou oo sns Bhd came touring be cic Ben when {eres yon son dcaonp ive The importance of international trade ‘oubherthe mele ie para ors manera {i roids spe of rw raters and cnaests thous hy copeive pte, Tier impor {She por compte ea ome ae lowered low tht iy wel ve bn nati tenant «Ropers tf th ppd seer at iy proce “isan st beer neg ern pry. The {hte dy below Shows How the Asean ming nd (ante hasan ecancmy general have bent on ‘Soon ts wi hin eal allows tne ee new ‘nuke bent fom econ fle 1 Frosningin mean race an seas an sie 2 Dina aes vere. Tg ovens ass sess ‘bend ile cys o tee rots For exp {andes fon Nes ae ling rods he {urna ping ai, New ela ond ‘Seah Afr spate any tens offason ong Have oor shor fe joes nd i one way of neg ‘ee nnn fr fallon cote, boring le and pois Egat prod flow exons omaha ‘rpitedy s Euopen our athe ue fw ‘Semen ars sch arthoe Aaa canbe gh re rere aging es. 1 pone to trenstonal competion can cgzarge domestic Ines ope th sec once chances, ‘aur ay so sli sewer oping odes fd more peduine toto peace octane ‘onenessSnare east 9 ste by 8 er ep sau 6230, cups GDP grow 3 bares ade ate ‘Tena, Ths show Fig 13.1. Bomwecn 203 a8 [20 te ISBC Bank eect hal GOP al ow By = serie ann i oft wer ere a Fine 101 Gown GPa se oH) gure 182 Ancemnine sls “Tecoma conic goths eee by Cha ace eat 19s have ben # er een on he Asean ‘onan, selec on igh of oh ‘Shed Wr Ae de Nem Try 3S ‘Guat raefeccron ow as ene 10 pee pet yar "ded fo ln sores sae ptt ea testis th proie# expone out el ‘aaa ns to ea a ney en ts 8 ‘ten 2205 ape $50 lon 0101. Te ‘sews munber of be spt ange sealing en ee ‘pons lp esto Ci btmeen 203 apd 212 eekly ould cena Weer Aural ed Nore Teton met up 66 per enc an 38 pe cee ‘respecte Compare 05 per eine eof a. In a0ni-12, 20000 people wee employed ning coat 9000 a 202 once paces neue by 0 pr cn and coal pcr oe teres 30 per eta percent 54 his ed ee Shorty it tomes ans ci veer nin prec orinfasrecre fst ‘Sees om $12 on a 202-03 0 ae ha 2 ion ‘ace m0 Aya ences indy as enti romans fm pokongee wage of Geman fm ia ad ‘er emerging copa Ths as Smut rasa ‘economy an Ket expo pees 3 sal gh eves. Questions 1 exp he posse problemen Cisa may ‘aoe ult fhe nigh ater of cone pow the cosy. a 2 Mae al he sabes fChneemanaaesng brseses benefited fm he ean evel of ae seh Ase ust jour pion a nS Changes in the global economy and the pattern of international trade ‘There Been 2 number fangs ia he bal eenoeny whch ave hd giant consequncs e pe of g8 + Pacem of ein ding sn os ‘enbes fly de wih each ober bt ve bnew ‘ade with on-nenbe Te ceaton of hee ting och, ‘hehe buna Union and ihe Asn Pace Boome Cooperation group, as no nore tae tween hs, Se rani oe oe bve afer 4c of «+ Adee in rade in mamuictre gods fo some conomis any devloped rons such 5th OSA Ibe Ui have expeeneed a doce in aden manutcaed fed anv tha aden commie ove Many of tae advanced economies have een dtndaserialiradon, ses onl ouput pened Dy ‘eemanufcnring econ ‘Asi oe by analy th HSBC Bank se the set [pow in ertandie expo ren ow a 20,0 Gra, eda and Vern sveraping ove 10 pr cen ane (pont, ad Sth ere ot fr bend “rp fom he advan Brean econ of fe UK "ln ance and Germany are fren texpand mere 219bosses sce ad se stony a Ie over 35 pt cet eas wie apa ad te gue 193 shows he forecast sf woth fox exon iced couse ines spre pete 0 220. 19.3 Governments and businesses The enc to mich gvernet owas a cons bases Nationalisation ovens sco he abe own an pete ‘Sinct wu nominees The 20 {od employes beseve Un they te wend more ay by vernner owned ties rer ae by pe ned ‘monopolies. An example ofthis could be the supply of water havea sige bose avo wate eplion cnned atl mesg col el explok omer {tule higher pose ete Th aon ths goverment cnt ard anopty reves frre nue epee le aie arg tees fe eth cen iene ok re igh pi fr pore vi of quem a,‘hemor, gore eed ht by ling aca Indamtes pate ovnes ty oul ng mes ‘Spl aloving bem to mee ses a ton ws ng ‘ae gone uc poston Ao consents brane ueugy cen n uy con Privatisation tation he roc of wring xin om Sete the ows td coe eden he ‘emanate pt nd er ayo ue nope Tee md pte ars poy hs coed ‘emt yens she ni sowed Ow lary {Sects in Ute OD he anon dergrnd ‘ocr bn ty oe asi bp of Doe Dep Oe adn pretty inant pend n aextocnt Be crys bangs ch aes ne powerpc ene Siettaroes ere "spon nar f pn se cose. Syrenurig pee tio nop pon (foc i pmb corp st ‘Paty pies Becomes nampa fen on ‘Bonde beter Th pce aed ie nleate Seto espe pre ees «Bint bnbens fre lle pe ngerm per (ates pape bs ote te (hat nsncay incon, ecres f aoraoed ‘pds mere nen s erone or ie ‘or tan erg een Tarp ct pen a ride age we a ee ede geeorons Turco seece gran poweg tres blest dng tse ado SSSI Nl, stn mi porranet See nce sane tte ns aan Epc hang sn Sele Corton SED Tr ang le f.Sbion pes yor aon owe cbc of pion me ape 1 Css haves pon oo ne ae ‘Sor etc nosso de Ute cnt age Sih orca oF be ged own ‘cn de nny poe ovo iN emi nner thong ecae jal por pis + Ste cox ve apd tat eg wo Ufc rl pos tna ct coms! gem sages tbe olen Y be SRE ston ng oman an ne ke eum Teed ‘genta sie ar f= pli et oely ‘te mage ten oe coapny ecm {he pce stoning of on have ld ‘Sessa pay Cooter ch tN ao ve Spends Some opi pn Ue ‘Stzscommned ouch opponent — | 19.4 Business growth ey ter _xsemalgrow crust whe on fn dss ocx Sy jpning ope mh ater Ths ay oc eet Oy = ‘sheover (a ealed a aequson era epee ane Sens ae boa for of eg, Fone sony wats takeover nate a bay $2 pecan of other Ds ste 9 that ha co of {he bins ny Dy thre shaves eer by wai shor by eng ts ov “The tang company wi makes alto esas of ‘bebe compary The drei othe wes! conpey wl (eke ere ot hy hn th ae eer ‘enor in ecm oe own doles ha ey ‘houlé aenege ef heya te ole te aoe bsaes 2 ‘heads tore se no eo arco wing asc ie tthe bing company mydeco ise Set ede fo ech sae hae omevey 2 rt Sable at ‘he bing company hao flow, ocr keep eng Ip oer enki. na meget vo (ore) fs ge forma. new cenpn share each oa sonpaie ae ‘changed forse in i snes. ‘ble 18.2 ntrgas zs aeons ono seas omg Sanat pac mon com A netgarbe onaig ‘boernoe ers ae Seon ogre ere "Slay bo Boron Gateev finest | orcesomesi bios an ‘esanestmee pean | soe Nowe se crpansstenes 3 vette tes | Ge rte ot ‘Srertaipoisngcery | pacar sents re Gaopyerwatasies | peau he yet eresys = cegioment ‘Fetes seat eb teeny ere anccreangrcend |" cgay orion ow ‘Sowing te eouiewceet | etomastepuca of grosses snes ei nex Sora seatetl mBE ess suc an sie ‘Types of integration ae tous nage rtcmce Pete SS otinepason toe vor ad cogament Horizontal integration ogi enh Sto tin mee oh! ek ‘Toning btn sone unr an pe canes “he ponte ers x a Ope of tagaton nde greater marke sare = ye, So en wl upsttare nor peer oer enero p27 « coon ofweles ages recto may ng ie easing pet ome 1 opr ea et ome e —_—9 Exxon Mobil sce bl Gempartan ia Ane ulna ol ius company bed eae. ome on 29 Rovner Ee ee isn Hoga tems en 2 $753 ‘avon mae: The anonunesnet fhe ere se jute doe wheter rel sn, aove poser occes ha eto comps ery fee ‘tele cae ay dpe of cons The al che hw compen a aeons 6 the lagh compan abe wei ued on reve ented poms 3 ol ffs in 21 cout Rees 63 mln {Deo indy the ecgr wa expected ger cob ‘Soe The fe ot vig we S720 on om tng Set bea ang affees $1.18 bln fo e807 ‘bgstcn iene ns Tal igs we iy ‘boo ps eu and $5 lion in rose cos awa ‘shes he ete cnn stare pee has ren ‘Sis Tae companys ares have ren y 85 pr cent Computed wah 3 percent US er de m igure 13.4 Can ii ito ine an et Question waege ° c hove benef rom hs est July your view ua) —— Vertical integration so tmarder to gain control over ropplisThs ay begalt of spin By pitng con of pata Fk ‘yao be ew dey conpetio the spo ty Wan + Imorder 0 guranice access othe market By bop o> ‘ees, fr empl, nantes my ese tht hee prs aly eto be ake te are payed and prem way ey wan Aconglomerate merger ‘Acotoneie meron whe i'n ct aes Fancher occa is oon eae meee ‘araics overs at compan mpl {Sicverect pce when Sum te Boop doi {nodose cagatng bn, cad ony ‘Sjny fom ey 4 UE compe “view nay bce 2 cngonemtein ero a ss yop ese ate oem» es ‘Reis chngs may ow ous Hower ane Sovsconoomne et emu ii an oe me pson becuse mumgea maybe rng maak Sep epee Problems following a merger or takeover _Athough a theory, egration cnr many poe {utages sich a sooo ae, many merge a ‘cre af relly oruerents. One fhe min otis ‘alow pation i coping we dileret ce of be ‘ptltons voted oye rel 1 ve lear ‘ler rearing ay sea such ss sone see, aly, [ecment nd ing ad isc case cone. Bplyees ‘om cnet ye hat Devo st warped ‘od rewared ithe pt snow ied. Ths wl alo be ‘Shuman pobensreparig i ad oto for example, ‘eployenr noe ole xaos ay te «gnesaly ‘eter emunsraton see than sth he oe ren increta the evar foo bh epee) or es © egotntehe eva Othe eer downwnt wich wl be popu ‘Many sali fn hat he expen deccoomis of sce bowing npn. Dee inpeovenet iran ‘Steiogy,canenuscsoa cn be problem a there exe besides common sens of pps The et ef ‘Sonn ad cof cordate Torberore, many ofthe spose bene of ‘xepation co not ppaa~ compte eset be speorpat, employees 3 ot coopmate al share ‘Slormatesnthe buns ak foro omar ‘ul iret compan can Se a ther ot cease cht heer goncsted ze ower than wel ve een expected they ta remained single Sdn show ‘het nore tan 60 per conf mares a ekeoves acu ‘enoy shsclde ae Ge: the companies combed are renal worth ts than they would ave ees if they a ‘Saninedsgunte) issuing, terre, bow mst [Egescle cas cone ocur Examples o is inclae ‘eget tkooer Serve ADL/Nebaipe, BaoWMOD, ‘Bish Petoleun/Amono, Revondank/Bskmer ane Deve Heanor ut Ta says he ig dnl ae even 2 demand or gets sale Howere ey, dscomamis ose fen Som ote teu perc when te merger or acqoon Involves sane es pata pychlogal nd peptic rncne, Creo tg hak and ‘rion oranda vir ap magne bleed ‘ta Sucnees can grow mre pol by bec betes, ‘orleans or desper, r more cuneate, wow gow gr ney nb Duss fe, can ea ack foe oo much sony and ine ed ta we ed to ‘Sota te have new when ig bi sno De-mergers (er cet yoni an amine of se of compas ‘pag sto wo ore eprse cements Semcines de ‘egos os heaves ot een sos sap (noe the egeond cnr eae av ot tra 28 Inn in 21 the wees manta of eres cig Wp td Prabo Rea Comps a Ode so piped {hidonrn sami on he co aces. Stakeholders and integration Nel sali beet om proce fg Ben Bact ay ee banat my oer Sm bedonhoropt pte ety ft compo ys ince flonings mop or ere ya Slender aetna en ‘ote tremors use af en ‘hy ence al vc win cop Tony cote wry os Forte hang fx dnote ta at Sa ‘oleployed oa pew woace 1s Sharcholders Tir alter gop would expect to ‘ete en gran The proas afore up sare pce and ices longterm pot, Dents song Irom he exizene of gee cranes fale sult to be expec to bene sro. Howes 38 VE Saw enn many merges a hoover > ox ese ‘wren ae 1 Caromer spel or cuss Dene am omer ces dow to econ of leo taaph amoaive ret im rgd nr th rer errs oe ‘onc ad develop: Hower hs ay be bce © ‘eet by eto hol cpesly# Oe iepsion ess edcson ans eile aHib ess scare ae raed bine’ rl. The ae nes ae peter recures ves in ne product fovelpennt a proton Although I may face hoc Joint ventures and strategic alliances Staelin agers oct a ere inthe co of aanaey tne emai et rad cay ot ‘inepallneeany ou ew opto opet Strategic alliances _ Stell a eo ital hl As italy laid whens company wis cus 8 ‘Sine 1990 Te key eats ea low Sine companies Gan ss hone sabe Rm has 2 ‘aprons isu, and aan owns 5 pe et of on slime noting the Uns Sates, ape 0, Joint ventures Jot venue ie i cn few ay re ‘Suns conc tae een exeoe ad 5 ‘Theo serra grea smal poe, nc ‘rca copra, Siete at of arg ew ‘ies perl iho veo allows boa partes © ‘ee tude ofthe psn te we he suing res th wo compare revi csr exces lp then compet nelly suse as Sony Ericsson ~ a ten-year joint venture Seay Bisson was i etre ree by he ps ‘horn company Sony Corporon athe Swe Ime mer oe poms Tn ei flr Inne. The pose company vexed more tan $1.5 bllon tote consol fhe fant eaters et vee, SOY To epuoue lero cerpenton ounce hate rE seabed crete an negated poncho eto Pox Ted wes. Tes eal cares by Soy a8 stone oe fer i etre wou enable #10 De fev innovate wi 8 enpees ad all consis “Ts woold blp to ake the company’s ul ange of producSerarghne sles forecast cee ve fe Yes chs ove wl st son in eling conan compete fae f pots, eagles and bed recon, Questions 1 Bilan wy than companies ay have cia on ot ee ter meee a 2 Towa ert do yo tink at Eon beni fm ue ene ane The benefits ‘Bina cooper in ene nays avo aed fora tree rege a rere ale sme fhe anger, ‘Sha nd ote protien at were ace! caer Test your leaning Short answer questions 1 a sazetwo rari foal busses nity busines mig dei oes ts sce tolseatora mate fete he erm molieaenal uses pln wy aanufacurng bins itt want tobe amdtheind, State two aantages to ures ents rltnaona compas. an wy fatooe mtg omparins ty bing ints enti ce, etn thet dinstitsaton ‘gan one enon why nematona ad fers berets = burs, ‘gan one fet on buses he cmaton of tring es suth sheEooeen Un, State two snap of reg ori Ding beeen hora and vere ieyten Stat two esos wy business manta ‘etal ith acter uses, Distinguish beeen aera and hen 1 wats meaty a este alec? 1 ln he tenets tn busses ang rom eae 9 2 What ademas? eel st vee rene aces can crete omy when ‘ebsotched ren coop ne puma af pend Orpetnes. Tre ca of Ja Yee or satel llanc i wly haved sua among tb asses ive a is [tory te len expeaie vay forall concerned fom & panes The drawbacks “There maybe ret fend ver eh goat tess dc uty or opeaog cone mc xn fc, praia + Conmanien bles ci il ocr deal ‘erences or acampe manage iforation sys. fone bet or pnmer in i Yee once (Gay, avin 40 pr cont ke) Howes elt anaes pln one proto comment encurare by ‘sess blowing megs Feces, a 40. Sgn the berets at buses aye feropong hse ace 6 Data response question ‘he economy of Pakistan Many sre mutational compares are lc a Plsan mpl nce tre Fa, Coc-col, DuPont (Chamilh Php Secrets ies ard he conglomerate Une hich corte tan el bases ms Such lage bine tig beso empoyes ard css n Fen wl 515 goverment. Since 1969 suc goerentsin aan have cis ‘rows cotoveal poe of ptson ass bit ‘pplz haved bang, lard gas ane aces ‘ve there pd alton conany hs ene 208 ‘ierof economic gow but erplaant has eae 8 role an ade ins belee psa as nese “untng the pteton of te Pktan akconmmisons Comper lin 2005 2a err. came fers eoeen fh and peor ae widens Patar DP rox by ound pcan pr ain th ay arf the sk ‘Sota sone eran nko patton oka a marr of he Weld Wace Operation WTO, stare mobitr ade agar it 30, ‘ae anderen gansatrs bao a menbe of the South sean re Fae ea SAFI green ade ‘arson import nee yas asta asin a ssa seit on ts base of payers =A atest gues areurTides suc ad sce cer of GDR Arte same tne Inpors and egos ‘urtons 4 Anal he ants at buness in akin ete from heaton ode, 0) 2 consunesin akistan hae ban aff by its poy of te draconian orcrsumasinthe county ‘(14 2 Town ete oes Patan ref from tas stl companies Jay you vw, a) Essay questions 1 Towhat extents orto tegaton he bast method ‘grow erence bans? eo 6 Gow bbedh omnes seticoes val Past paper question | a the ne tel Coma fe en soe the lonng Ques pene 9-51 ‘Daas he pac of ASC ttn on he compas ng cata be nd ober eet 6, eePE] telat ME eMC 20 The economic environment (Chapter overview J nthectsptr we sae yn 3 etc fn 20.1 The government's economic objectivesEly Pe ceonicenanment siete mean a can be meio ve te ett on low rate of teflon The UK pve ‘Maso tt eof ong 20 percent mang Chino ave pres sug in fe UK hse ay. “Tews apr corm cjeive wien be Bea of Egiand [amie on beta fe gore ‘eHow levels of employment Is ot posse ciate AT wscrglopnest ivan essay. The UK goverment long ‘Fay es) soo sore fl ploy whereby Te wha ae aes wing work hve os «Sable exchange rates Sen’ Bucatons mn excange ‘poe probleme for my esr and ep ose ‘The compere wah emg hn a elie pees cn change ‘ey legs, 4 Heastoring Income ad weak to reduce eae overs tay pve nf ee Fe Povey Eng tubes ropa oie sch as en adhe ly say ee rnge of pes icing sing eno to nae the snd fig of ese os ‘oe al Bei tha of oer groupe in sce SiS neste oon cy fom Seon Gout vests by experts on inetd ‘Son eds ad teen eae) at owe Tose tom acon meh se mice pr ad ees ‘oregano Hone wich oe mane ec utaner of pment habe a oer wae The {Kreme soo Sto pve eee ef ety oc ccony bob are an cer ene Ts ‘ens tty Cponrig ples sc siping he {Pays er tung ry exouig mesnee Sipelendpomr oops use moe posi! fone mene le neem The economic environment @ and business strategy eden aris snl gsm soup wh ‘ada sa corres secre eer thm ns, For erp bossy ve wh oer sanstmaroaen ETT “ieee =m sereren seem a one wt non Steir] teme__|ese,| Some ‘Ricaotowe [Siac] Meaty [ile) Sewn peor ca eens maar rere See Figur 202 Sane eh canon vane uerout and the bus 50 me oro chocve an wil ecp plant achieve negate Ge the economy ating sal) oa weve pedal, pny ee nc po i abr uldcser-mking Te aye emgbastes te imeelnionsts tne beween he ements that make up thir gre over tine a represen a He Inthe eur 20.2 Economic growth and the business cycle {Se comtenglialplces dnideg coma va eres es {nl ann ne Aten tema be move oene they er edn sume whereby conse pow my Economic growth ‘Sconomie Sipps pices maybe ele 1 ache ‘Sosioe exoemae onth, Tis of ply erase ereseg snc wih trite = et ont fs bn pee ano ce eeED te sonnicenoment — UK economy grew unexpectedly fast in 2013 ‘The UK economy sew athe ranges rt is Ys 2018, ving end he aon 3 pov nates ore ea ‘ronan rcesion bere ove spare. “he Us ev nd racing soto woe he ae 7 por cane pow ithe oar guy, aking the shal (Powe 1 pt er he snag sce 207 ore he Fal oto ol Th concn ge ete gare in 13 song th Oc or orl S85, lng {sii boor or Googe Oars, he Cancer othe Exchepie Pnance Mine), who a pers ued hat Seongening covery eit exon pli ie ee “Brey ere finer mere publied Osbore sl 07 per cere roth in GD? Bas fo the economic eet oF Baer pope Ourongtem plan i delesing = ber Sooige nage se groving a 09 pe cer anally, which ule flim, wich as 2 pet enn ese. The ‘Sconany go aa lgty somes pace Inte Bal quer (heya cngared wih hr when gost doneni rset, [niesed by 0 perce burt nar mise wa coos erpesatons oe Gece, chef economia tbe ONS he sonny doer soem tobe inprorig moe conan, bat GDP (Pale blow resins ees He ae Tos case ‘Suan over out of tefl in GDP cag he eon an ber recovees, up sil ui perce below (bepress peak ‘vc: Add rs Te Ga 26 ly 214 ges Meghan Questions 1 xpn why conan rom ss nporant mcoeconome sblenr for most governs o 2 vate eet inch he eo at prone nek eve my epee tole ews Feral UK buses be ‘re cate or econ ont sna clear ron bins (Srdvanages eel as sovanages Thee puerto The business cycle Al oui ser Pucsione be ell GDP snd buses fey min thee conor A ies Spends, carpi tod enplomene al an dag ther pecs he opposites wo ‘hte 20 hens and ants ofaoame poh ries Tahncteamonionawm | al posi sn eory Fovdrteooeneannts | bretesnatyasrapemset ceed ursenonmtang | sero pon rssh os eoenc oan | sn! in we ha oy SSkasorrgtensen | pomedssie te 8s ening tina | pee rssh ie ‘saerauagrgtergorh, | sero tyro oe Gt see comes ‘Salman mas em ge ccs eroner pndg wang etree Benes at nt Soe a ree meg rome ny min shresot ‘ah gorge eating tice otng common mts ine gene sae | ames ure pee We Stredtcud oan |eamaranddesonsrarbe Been seey torn |raed ihm oes ing came cst poaues | oy pow rast omarion Sa kaced osm |Geqayatrougeren es imei logos Hoare en tre The ve ofa cous ouput nea psd fine Imes al grt este prodotti epee goa the leet of enon ca. Aig eve of ‘Sonoma wl ered n= ge velo CDP “etn eye dees he ous acon in conse att ad GOP) occa ve ne nee, ‘pue204 lumens pi bss eee "ade cre gene hve four sae 1s tecovery or upswing he econo ese fo a stan, pen td enon th ep ee ‘acres wl grea spend more i hse caroaees {ey se mote niente cary of employees Jel buses ay epond ext sgn ek feted o mee ag dena wie spare capac exis fis simply bea oie aos, oes wel ther as, Ar nen conBnes nee is ay ake ‘tion vet in tr nonce set coe, Imainay a eh, fo earn). Employes exper lee icy ning js ad Wages nny Depa ore 1A boom allows wih tgh velo procucion and epee by Ses, consumers od the oven Soom se nomaly crc by espe ad ovfdeae inthe bones cons tae a om-rene ae ial to pease at aches. However many srs fhe econony wl expeence frewure ing booms Selle’ workers ay become sree and ms compeing fr workers aye her‘asimom podveton, senages ad bleak wl ‘tattle and eagonets fl rene to. 6 Secs dice moni pens - for ab ont Fai ‘cow beg mento busine pon rcunstnces fein en stpt site comand apse espe ‘er abandoned. The evel of production inthe economy ‘tle map stgate een fa The amour of pt apciy fe cen cy wiht mong heh» Bun pod Concer my ston encore, Canple aceaing ter om spending oweng crt ‘Sox ine Ur ete compan be er, we he em bcp peso navi le dee sd pawenr. ey oe ‘Ses om one tape oe se athe, Basses in The effects of the business cycle sige semper buses pe Howers oa ‘Mucosa op aleed bythe ogg eng condos, ‘rough sage ote nd ter fb od ute dwar ns ts ne ange 2 “tea fr pods Tha isbecs see eel fons Salas nce ower ye seca pace Shier wins an pops and enaion mera och ns ong da ip eo ee rods ci mene w commen ich oma Tho postion mht be ade Wee by il nena ore Government policy and the business cycle ocean ty oedema enn te See omerEide cra evicnmer [eset [eri Steg ev Bates crc ere rece napa metab and egos 3 ony ys tay cio ats = Span aamehanw ne aan opcae ee otra ly {itGgerce odor sass > Fise prt ro ou EE anda casera Seamne eter ree, | Toyvenetemysteced” | cvattcy be shecests Tybee peter yess aetna, i doen roduc ad he Coens thre Nucuatnfor uanes. Ths cues ine expen by Inds By ee eres pesthy (Sting eee of ts pay nena asses he Teel econo ty my main evely ble Rey Sim, ones my pede i er expense Figure 205 corte pace an he snes 2{Sian prea Ue af Ege ing interest es in a tere to ower the vel of ‘noni ay.Highrnerext te ely og Sueno endo ake ro zune ey ces of ‘Fane adn conden ought aoa ye Bans Pakistan’s central bank forecasts. ‘gure 2067 Sno Soka fan Pais cenl hk eats tthe ate feonome (pent she county nee pr set forthe 233-1 Yelned en epee . sich igh ne Ps gr eas 2500 5 perce? "The neal Maney Rnd (approved a $7 hilo oan secag fr ait Spee a es oe The central bank forecast tat the three-year deal should being sbi tbe domes orn estas mute Cue the inthe las cal year Pat's enna seat 36 er ce the bank land ation flo single dig. Dt mar Inco soul ae as igo per et ihe arent a Questions 151.75 percent. Ge thatthe cour ha 182 ion nabs 2012 wet be te ee recs ar Business strategy and the business cycle selling goods whose demand i sensitive o changes ‘known acon lac gzds sch Ssger {a rng ecamion. Convey, busses ling sap ‘Ss ay be realy uated by the busines le pt na pecan nd Pe anes ay lneeae pero rere Game ane fms or eek supe fm overseas, Equal, conan aETI 1: economic enironment 20.3 Inflation Anfation ibe det ae petet inthe pce teeta secede ae of ey. Bor many ‘sees om ne oftton is ots prebin Aso Stern south sae te rer 3 low costae [Bee pce neem spy sves ep main ean Titcon oy beomes# aor robin for business whe 8 hig npiay or wont fa doing bath ng: Tndaon he Un ony ital ations troughout he wo has ben ac bie ow ates over fe lea 15 yar or. Dept sein UR nao te ve ttn § percent (as eae by the CPD in nt 20 ‘ing 234 ore) Rag Re aeteaties nde ‘he comune Pender (PD ene a of nation bed (hie chapel gos ns How is inflation measured? “The Uk prereset of nny of be ‘Conner re nex) Cr weed eae Sttpand anne he svenge ony cage inte pos of footed pray nb en Enc on i ete rn eT Geant srg mre tan 0 jane oo andes ‘ii ce hanger ae ese rugs own The causes of inflation ‘Thee suber ac at aye on Feooms to catharsis y demand llc comput cs The cae of info can be a0 ‘fresno for Dona 0 pois are neon of ‘el fe governenecr poles wo conl ten. coset sion hapa wt fata ening a ut» ‘Denard nian rs teh sean Dey Sroeand ear ems ts sy np ese oc Demand-pull inflation Deal ion cos we he Geb es Somatic hy ees pss Seite puniy ans meee ue Spey ie mate owe mentee pret “lela tw ntbeenc we new acne wap Poop clam ee bgaem ‘rund pl aa ea onset one specu pt en onan a ech mf Sittich ne mh els pon ge ‘hia ont esas omer sn ee Soraya ete ee {Eie Tacieak comune weaker tea aged Steal nin sn epee ete Soetrbe wan cneenng se ng Cost-push inflation ‘Sos gh fon cis when firme ineasg cos ‘Sioa auch dng wager or een cos of 07 tra denne Th pe aon ean ie en 3 1 age code ulead ployee ee in Peotig po ess sigan abve te eo aon tha uber ple er up be ee Ts Bees re [Bey peda tien sowing Benes troll me ce cee nape cas spat dena ger 207 ten insu 96-14 Be| -ricn. Hower koe mse cod cient The aon teat 25 percent nh fay 004 ha ‘Sect wage ness and erie nfton Frese, stead 79 per eee amaly for 95 un 204, reaching ‘re iS lb bu 20 pes ces wen uy 20 ad igo A pes x 199 Ss ow f-22 pct in. Jen 214 cen te cous very ln oni Apr 99. Dung 2013 Cane expo pri fom senge ‘Imponed ination Oe oft nden unr fasion sb 22 por et Whe po pie ose by baz 05 per a ‘iano. The Ua Bp are sept heer ese Pd ‘9pef ian a ey ae "open econores marin ge Ras ion re was 7 pe et in My 2014 ae ‘oer ofr ein compos a ed occ averaged 4822 perce sy fn 1991 wel 204 wh npr pes ie when he exchange ring nd ore chi e 23303 pce a 1992. wes eas 3.6 pe Cet le domes caren sree puchse gen smouak — inApel 212 The pe of dames produce pods ee a rein ee. Atoxgh exponen ag compe ay 2p cet btweea Deco 201 a aan 2014 hig exchanges hey 2 eo cone sion _ = Questions Be AY notamment Comparing the rate of inflation astern ‘in China and Russia ‘eveonment than thor in usa, Do you agree with is — ~ see uly your view — eTEID] he economic envionment The impact of inflation ‘on business afin can ave uber of econ bse ary tees ny alr salsa end ot rerhon Couns mat De expe spd ne dig ‘Stary pei ashy wold ar wish to ld 30 et SER MME Sake However rncuch sow hat people Sve mre pep ue tuners) and le fo many ean te efoto malin competveness et expey ‘Stemomal conpettnens) dng bus of aon. ne ‘Sogn anol on nay Fre hs to a pots oF Te lower rt agi Pome opeatg in cous wh tomer ts ef inston ay ai te eg nes of pice ompetivens ier ud econ. The impact of government anti-inflationary policies ‘es nan tie cae 0 ha Rs ling Tenet igh fiona places reso ‘cnet cont inflainary presure Tes es ‘Barons se Segue aed mee by axAiony oles by nto ae Ove cere yrs te Ruan veneer in coiled be Wort elec inion i foe a (Tibes lerest rae hoe bes he goverimee ain reap ie cnn ove eng me W875 er Trot 20 iceman th se cr pene a rece he roy of eran pl ston ocouring CoH ecu fm pending na ney by igh ton ‘Seng scou nd hy es el 9 By om re fede sven 2 bes Tecomes mor expenane Osi andes ce td he ‘aoa pres towered Ore tine theRoangovraner wile 0 ees he (Speen itn ose eae ofan ‘i tu begun odin, Tiss Hlped sine 0 be ‘Soereonsting pie an Nelped dst enone ‘om puting in excenive Gad ilar) pay cans. The filing of fle ejyed by Rasa ns ee veg ign Emo ves di cv Cotter approaches stn lo Bly conto ian, he (Secosne porerces hare insodoed epson Sig ‘orem th power of re unos. As coreg pa The maingblloecomputory befor uns can ts nds ‘Zoom oe sured to cede made on power, Ths eon Ts Ienened the chance eos ation wile edge umber of dye let sea er ind acon ‘tdasoe cof ome ens 9 business, hows som an ogg th ow ae ies eon tmp be bunch ment ren pis cn cet vue 6 capes ad essa sant snes Tain ‘Siam enna nat bowing a ivene ‘Senses te va of eparmens eltems) 20.4 Unemployment ‘Unemployment renal an inporsat sien mos mente, is mnporan beer Reema waste of ences if ost nunca valle moder wee wet DY Conard wo be abe pede ere nd es ‘Sol ejy ahr seed fing The sil es of iota paged es of empoymes can be easing oor elf and eine se sto fats seid Wit Sreploymen sa per. nares ater te pe of enone ‘pt unemloyne oc noe De Drs SotSinn scene ang tore canal eemplomens te espe maybe eres eeptaa emer on pean sg soe: Src! nenploent ns dno nde 200 8 Soc etmay one naire eet er Types of unemployment rece bene ruber of ass cence in tt deg ber he nk Soest pope av nt pe rege a lo ek oan ee Structural unemployment She adenan of ew matt of prod. 1 Sgt and person change in dead ‘hing competion fon vee. 1 Ratg nc le cing demand for some roc dies i sctnlehange nthe eoroy at ers ppocunies ‘Dbounowes Ring ns ad chalga developments event we deveopment fhe abil pone sy Tis [nosey npn «le ube open cana the ‘pod, sping ase an ne oweslean mponant par of sy soli Oter apres che ‘Recess n atrasing more rodeo, tough he wade 4 ~ Cyclical unemployment ree sempre fom eo. ctconmpopmc nae fms aes he pein isch arte sage oh et oe he whe ae es cps aso ed at late or ld ey tog snp wile pace Pie 00 hae bec nae ogdom arp ‘nos cen i 2008 Soe ses ave ved poet Ghansves sunt al Unemplnent by the eatedi ci of protected py. Such same sow pay fl ig 2 Frictional unemployment opi moving beeen ob ase tonal wnemploynat Xs penn lees one they ey ete eo mee no new post ay, Wie ty rs plore thy re sie coral enemy The re nay mde he vel of seal amply, ‘ea een wl ve some aout tio Business and changing unemployment levels ein unemployment pos bine, hough ta pe pcm kel epee ef lon depend pe ie crm tlhe ute Ilsinporan to elt the ip of nersloymant oe ‘hanger meh econo lacoste ech Ne labours ey nant of pedantry 0 bet of ous that sup sens Herc change ‘hele ef snerploment wl ve a ester os te otousnas,EBI Me ccrnicenanmen jet calmer: nih en bree in ‘nny surplus production o inventories. Aheratvely, businesses ay sch ee maa, potap oon overseas Rota Tevet, Boiss sling ewe procs maybe eltey ‘Siete bya onerous fay Srcualenemtoyet nv 4 sgn fn teste eer empentyhhoaoed and oflnYy Fonscre Tashi lve of merlot male Fret {or ca businesses in the locality, Unemployment becugh about Dye dee oa iy abo ata gut pen sated ie Fer empl ling pion nee Us stapling day conto he cei the cour sel ns. (Global migration ‘mises ron parts ofthe Mille East, Alta and Asa, ktough “Stowe nave geo been ne cesing spose ato one ands ens “fe emp of migaon dens pn a ae of Fo andthe net mint Now. I mgm ‘ovens nub sila ar emul of ering ge eF ty pt prevent wage om ea This xpecal ‘ican te wing o ork oower wage es, Questions fen oe indo figs. et 2 Mo wr cx does tow of nan fect he Toapatinens of ines the reeang over? (6 ——O (ednnicy igh follow al atria nd ofc ay be ‘le Resort od deepest piney be sano Se ponooned ss sk to etic er ens rach it (Golo rvenves A peed fa ne eve of ead ty enn ey conser gets wk ce feel ee ‘Scoplomee nl somone sl boss cee ‘Ehemer an he deve of eran ocr coset ‘Shou ot clog ocr Uk goverment have ae ‘sppatindy tse wars‘wing eng 0 eps above cn boat rccty ere enhancing neato conpestvenss + Bnses may loose ok adtange fre ple tec cerper tourer of led bout Honey ine ese of 20.5 Exchange rates rhe freompe eck ake agnbe ne ‘Cinese Yuan may be wert 400 Varese Dong or 43 Tendon one of te peer neal ents fo bsg Why do firms buy foreign currencies?Bld ccnonicentonnene The effects of exchange rate changes change mien change sigfcany over ine A hehe tm Decne 01 tbe Amadcan dll exchange for 1932 \suguayan pate GU) By ne 214 he exctnage eas 81 Pliny Ts nett he vase tbe Upp ps Tat depced by at nae 9 pe een oe he poe. Gee opresined by these acon ‘ran veoge morn dale 32000 pect suing | othe chrges how mad wld an erage asl orn | meeaarer, |e | en run |e | fo ts a Ee eeacaience America Jor example, woo! Rom ts Cortiedale sheep) out te key ss cone, ad Unigeyas ores would rece the same sous pesos per iopain of woo 1 Anes protic for ena, sof for comput) ‘pone oy Crpny sete been vp 029 peek {dns wold sor nae change ely, bower at ‘woul sel saller quae oftheir products, Ais tne a dem forth ceney nd supple of [esse sight ess fal overs ps fies not Pr Excunge at hanger an cee uncer fora munber et eae Tanacion inn expe if te exchange ate ses ithe ty ive Bangs afar es rvenbe shan ecu ifthe coat aren ees of xs a enw wil conte nasal umber O a, sig + Changing exchange nts can act res and aes in ‘rene make een cements woe os eran ‘amples Landon aed cer degen yells res bu aii hs tye pal pounds eng [Nvsein he vahe othe pou ay men that orn ‘ene we foes noes he et of be ert ‘oe changes Foreign flrs may rue pices oof the ‘ie esi an bean ng pa of» dszuson on Solar hon te piers ti cate den my ae ised by a ie te exange ate Ba ene rely ‘Argentina's currency falls against the dollar pes fl stl aga the Areca dla The ate he sprain incaeed devatily nthe Sra eo mans Cf 04 Atte mu of Sepenber 2013 approx 573 ‘rgentine pesca wee ogi 0 buy one eae By Js377Questions "Bape ec te sign fa he vate othe 2Do yo tk tt Agree ‘gain the American dolar between September 2013 and Marc a Jans your doesn us —\—1 ‘Study tip nee nei rae ‘fa change in exchange rates it rportant to note Business strategy and exchange rates Sfetange at anges ci be rece Heh tbe we st a guarnced exchange tessa uae date ben _demard Is more Uely 9 be pie elie al basins gery scing weet prosive apc nares auBld te ccenicenitoner [iow mies + tow ca ein feign mre en pbs Seca ng, ye nei noun cant ueaangon oreo ede ao on 20.6 Redistributing income and wealth Sohemiontons a Danica | ny ened se al og ceo cst pon cc uray at bane oot er cam tose re fonme ene ny ea ‘vv igh income fle bree poor wf eo 0 ‘sth and ow ce Ris theo of governs a6 even o me natin sd were boeirt eae ‘tec ia her tenbor foley pose one. The scale of the problem of inequality ne mi of ese come nega hoa ee ‘eame auton ensny ung ie of0 107 Arefn 201, Chins realy el dibton of wel of ouehols conta 87 perce of welt Inte ted eof rea the hee 39 pt cen of th rout apes ger ate cosy woth Sarton of ba nceme ana weal etn are ea. my 2011 by he Oman fo Eom (rope and Developm (OKC), loking a Scouts ‘neque, sree ie bosebold ese ney ave Ba Im dv by cing in the iuson wage nd snes, whch count for 5p cet of hostel ncn Wa few excepto (rane pana Spl wer te 10 1D percent esp wakes The response of governments Iniecamederboton. Ung deuon of acme and ‘ne rlacey poo may at ve sens to edo ad ing occer one. Ese these pois involve (wo eement, Incomes maybe set sang wae cig come tc niece tes These aes ay be ete 2 he the wth ery gh nce cre pays eee + Proving wellae bene Ts ieee pt of « poly specie ch and non ach eral al NORE AF PETE TT— {in fom governess topple we my be mene ‘rome. The Beets ay be pi in the ferm of pensions ‘provided helticae or ecoation. 16 rate th fet te UK of te {Gcomes The gaph dds pth households ots —20.7 The government's economic policies cenomni envronment ‘Spirit potcera eign om fe pete sland Beno ne somaun as posed rare) Goverment pte «mt of dilferplies wi te Sim poi the be pone enenmic enncoemect ot tte Tag elo tammy be 1 oonetry policy sing hs policy the ovement rhe (otal an achat Banko Ealing on beta) 2 Fiscal pole Tl reso he goverment se of ‘htng he eves ston and governneat exp, —tne-peaee ca ser he eve! of sty win be 2 Supply she polisie There are degned 19 improve {hee operon of mae and heer the ol ‘Enews prodsed (or appli) by he economy snenployed woe. * Monetary policy ey ced nd ete ee of peng Src ay Moncarply ate oo tng ey oe ‘ee uerents hve teed 0 ey upon leg Monetary Policy Comite of the Bank of Englind has hac ‘he ino along the goverment ureter eon {Th tang long ss rh in te ees Tle 208 Drea peaking os in itr ites eres the ee ct econo sn ad ection promote an espana of prt inthe OTe pie fier bared on aloea pens on ever con clog the me pees fe ln fe dee oft ated oh Ocenia sensve changes ieee pene made on mages, enn ey Effects of changes in interest rates Wie ngewe a eal mt sal bere = catgut ofthese tae asi sere ‘Sine nee pe cet oe nee eco Seo 13 milled seal mean tin 00 aon {Sucre i peyments Sse en eat Tre gr fe wa is ee booming Gd he Tobie of ain canbe ee yess est ‘Mes forsale tae nen cap le os hay acest us one extn expen eof he pes SA ee sins, ot inert es ee‘able 206 Cong niet ecb re ‘key oes ae Sing lent tenant on rasany Se) Scmietore) came poss hd on oe ye spiny sce ron by eect en ners sorenctasn)| sheiverin mn retuton ay ests eng SEIT 1 asm reduc in pense ach in acing 1 Firs trading overseas ae affected by alterations ia interest bousnesses ovement puchane, a, recs ove In Inch agnalnston to bene rm hgh tre te. El (Credit card worries in Singapore De snob Ce ens Sng C2 howe Sooves are fling behind on payment anh he aces sanding ae ening oJ 2033 260 ca ca hele or er nese Borer ad aot nade nko sora! loans that are no backed by collate Theil amount on unscented pen ln ate Sromeoron at ae we ood $307 ean ny pom 2125 mon et yea and {858 lion 201, "Aer the age comes he bat hig. When te bad loans se ig epi e eco ofa vaezpeced exer shock ote ferret ates pg op pss aa 12 months fer nme for 90 days oe me. Questions 2 oak eee os conte ced Jusy your view. ue ———(()EXD soenicenitonner ‘Gitar coven [ Rig errata | Fling are Saati Trerglyran [Unsere [Urea rest desne | econ cy fedeupsresies | sara cu tary peare_| pee i, leg Tene pawh | ilsonas Tessie sedbismnt | bg tseess ee ee ener eto] erent rn ea fresco) [pacha weroy | wl cc oe However, iis pt ony the dct feof hesing tern tes tte Danner The se of terest te Dolty by te autores cantare 4 pron pet pen peste Te Reeve Bank of nda changes irs te ‘Sant he Ini government ia aehierig is econome ‘Spestven hn eae ta aegis fe he eve! ‘ot tneployent, inition ana pow ening ine ‘coro. Mey alo change bane managers expecaton® ‘these tay econo vase, afecing heir > day fd sxe decions "Tie 20,7 tate the rear hat xs beeen Te evel of inte ae and hy econo vibes ch sonume wont od oemploe Quantitative easing (QE) Shee Ma 29 eet tinh OE hve oe ee 0 perce ye Ban of Bodh wes fre er ‘Ths reve! he psf weg es ae! exped odin and pth etoay shoe Maer mer of Conon growth eve! fue 20-09 sce. ‘Soho ten gon me ta ek on ‘meney ply onsn sw pap oey to he ono) ‘eel. at save exng@D. “he way eral ak ons ns br borne axes = sy fanaa sch 5 govern emer tes —aing money tas pl ese. The tons ‘lng ut ete comer bak er Bar sien soc as nce compan) wi en have new ‘ont ns ich en Daath money EE. 6 "we hop ei hs ne sented prchase todd er nd oot oar and growth The UK overmes has inlooes mere than 975 aie soe cnony hough QE snes 209. Quine sighs en ue by etalk inp he USA an he Boop Fiscal policy al poly eo of gern cms a ‘san ar ans of onvling te ere of cay win ‘Seccny nies panel poly he ‘ison bermee see of govern rp: 1d the anid a ato in any pen yx. ne Whe ‘edly ns 6p Ap te lomins yan n ‘Sy secs kro for ant 31 Deeb The fine betnoen tan so govern epee inthe dre amaly when te Chreaoe te ‘Scnuersemnses th ool Boge Te prema pert wo tend et of pea. ‘expunionary Ral poly Tis als cating atin {ede eng grenmet expen on es oh a ath edi sal ences Gene to aon. Te ‘Soe Sow one sez govern boc ‘Shinde cman Gorn athe pb tor ‘elena or FINED or eee up eld {erent ceva be coo he ea ys 2 Ersccaonary cl poly Ts woh oy Selocng gor expen cr ening Soh ‘Sy bom ptces sane. The eet cathe {evcmnctsborowing or reo Se on in let rte fale gue 2017 suns he operon of ec pte, ac pie an hip able th enor lng te ws ects of he snes pel) tough the penton of he ‘nebo sable or expe ler vemos when he el of exnnami cay high ears empory lope sac scape a ihe come tee Higher company probs gers higher ecep tn get ‘pending by conten Ys igh foes om ret {ines Tes cto ops wit ave evacnary ee CGempenig a eonome bom The effects of tax and expenditure policies “and expend ples nv nade con dete ef omen cy, up eee os Si Syren te opr ted esate power cince hrc nes eee te on nome a pois mein nse con od coenon i xed So conpoy pd) Dies ae estes tearing ih esd Sponemenonn fl Romsey tetpaine |_| Aint Ponsa qget ma ntr, ry ‘erg ct tin Sugeno Meron oay roa SER ay apy Gomevran tna: | | Mien, eesexea mnt nt Sraxari ei fear, ‘Sconeetcay sows come’ ‘Searg en ear pw 20.17 te pester alsa) snoouncng handsome pos. The goverment ca forecast othe illindei.l- epee pn pee atoneak ‘ih sine acuncy the efects sing iom a increase (rend fo he goods inqeson. Consus wl crn Fefucton inincome we Athugh the ovecal eect may pease ee such a fuel an foo, tough demand be predied be implica for nda! busines” ‘fo prod uid ith Dome poten fo ele vil vary scoring othe pe of product rupmied Fre may saline. porate le of mening TRoptytg hay goods Gouphatl ognbaay for” trust elrary ‘example ight be sigaiiatyallectedby «change Goverametexpene hecho Sal oly. Income ws ras, especialy for ose euning higher Govern may spend mote two bond cates. Incomes, whe hose sling atic ood ay be "Transfer payments Ths expen on venploymest reiely unto he, pais nd rhe wca sey payments. Changes nrc es VAT a aed te ior Inexgendnre on hve tena wl ave 3p ipa oy ‘pening inthe Uand cher EU enunses ander asec y eel oor mab fake wh wil raped sre aed aon Changes inthe pert ly send th nase or tk esr) ‘union cn ves pi cccon thrive femme tmedly. an cae in ener pes cen ein Sty tought laa et prec. A rete anal lreasr nme rae pods sen ea, Is VAT (ass the Un rr 301, When te for, ec esp and sa 175 per cen 20 pr cen) re cumerapening, 2 Thefafrantroture Goversncns nprve he astcnse redocig ead fo goes nd serves and evenly ough aspen on oui, reads nd 2o08 Ibvonng te evel of sone Vy However the ees! prtecon. vestoet ae eas ca ease he veh ‘gees 2 og marae esas gure 20.18 Gener eaten pace avert PoEid te conor entonners co cognac by orig ead forte serves of Eee me wie eg cos for cer Es. 8 ‘SOE col, mpiecta tasens anspor co Ta eres e219 he Cis goverment anounced hcudng 15 expresseay to prevent Joss of ome aes fe Chines econo. Supply-side policies Se ceed es Fretued by be ecncny. They ake = meer ees, Labour market measures st able ery ut geo es, Ted ste o avd demazcton dsputes, Diptes ad Se cncurged bak it tbe bout force coe Foren of tling programas eset eq em ‘Tk employ sll yang eave of rnc teron om errs 0 e280 peo theatre Privatisation annie boo ‘ene eo a te any aor UK se eis were eee Muh tnsdowed an ue os elt se en cntsaactn hep t oe date posed canis ‘steam ave ed oa ad backsh apa th pou Other supply-side measures ae es i esate ct eran Se tte marina cca Japan's economy shows signs {sree Japan's stent opr grow at esa er yrs ‘hecouys tal bay he Bak of apn. at see Moons were stag ecove egal eS hae tne wos iat economy was a GOES ong seated err The Banko pass 1 hander recovery In consumer conidence and conser sendg edn opine cel bask’ pep ating bed se ts nen poy wntanged 3 ac oa NE he catgut win oe yo To pt money NOW nus te pense cen, he bal, ey TED ‘a ov as pleigedopaep 6 ln 70 on Fea tout st lon 19 $70 tain he ener cont ting 0 eorer mee the Bae ‘Erowment and poi: indo! produce, at Ba Dues pennant "oun rom ino rong sean ayo wots relay econmmur,recontng an annused fpr cst Sate Age ote es Tres 1 1001 (Rt Questions ‘Veli he hey ect of fing cesar conene il openang on boson ep a 2 cs how be pane stds ght Fe con0mso Feaaiy onthe ea ew fe ua20.8 Market failure Make ire aoe wen ae ont pty feo ores lc ec dort ey ng cpr ow noes pote Shun acting he lve of economic acti. One such reason ‘ver tine iba ol pris ave en fom $19 pes bce ia {opt mere han 100 per bela 206 Te poe Bas en eens consul Gul nd boar hae 1 Monopolies and cartel The existence of money a {i tnucient ouput and high pees Asa conseqvence ‘crepe tp ae Sreice neccmete eainoen age Se ema rao poy SEES Spygate omen Serpette pada cm no ‘Senineaet pea conce y reae pelo etary Jelly oes in ver spp too few resources are ‘produces (dnug,for example feansumem ate unaware of the Scams STE leaar an oa ety Tanne emery oes ae otc gh she employes re tac by sa ‘nese who a alto ce higher wages ty hove ‘esl in fee rescuers being located to ining fr Kear ‘i ponchig Tr he ae nat flue ong sane fr gover “ranean te einen dean pone seeing arabs when resperng fo quests onthe mets ‘thew of sat eon n he anes enone Responses to market failure Jaws to encourage compedion and react mide ange “Eoncpaly power Gor nample by ming pes eacemiely ftom rte mang) and ne cpenion ofl Suh Tews pron cones om the arene fl of p17 Feo 2 Damage cone cit ed 9 ct “asshole higher eles aa lower pra xin, ‘Scoggin es aay povermer my uses ob poses sed ou tar eaze etal eas 2 Tack of nformation Govern rege rove information programme to adviee smokers of the danger lh of consuming tao May eich poner Save ben esl nd eres bea ap celine In aco Se tining el a an feta bits obsess or engage nai ring. Howere sich apache cn be ‘iy coy they arte op igo eee 20.9 ConclusionED] te economic envionment phe 208 cummed of keevendon at ete of wig many eoronies have lowes in sndthe cpeset fare en tiveses and comune tlie 4 gvemmens ae oeanng tha economies Ob {nl vel of ecncs avy the eon (Sten te level ut or GDP a. eng ves of ‘Sovcrnets have sang offal neo a plysde Spemplopment ie ee lish seis Flcwnertwoteetlove oe meme Adcion noeree ioe usin db endrdecisms | unessaysrone opt 5 et pa afte ea he Bes ofgot is nso of no tye nese. oarmoeat tera re of fsbo ease [Cnntcmnsurcoacto arcs | grrr vine pees sey nea x ora remot Ser enone nh ontop anna | eer rare rey | russe inmemecucpommotartennaae cya wemteingtiomanmensh |epoctatny recon auth haben ener peut 6 d0= 82 cn fete rates yee te was, ow seven canon poles one Benes ty Metiodofiterverion | paced fess Oy naig ero a ee Ua Te atone leas er nwa ew os Efe sneer png on od and ‘tar an e elon of oom se sla Dares ma) Festina pra par cy ales he ayo - ructon and erased ef ecrcic c,Test your learning Short answer questions 1 Sate to pose exon objects fore oe a bln one eas hy business may bent om Sealy te of economic roth 2 & Deine the tem meen a Benin one connqunce ofan economy org someon forse marfociee BL 3» mais meat bythe tem eatin? 2 Sel one fle offen on amaeaec pyle onal ones, 8 5-2 singh betnan cel ands \nerpient 8 b beta term exchange at a 6» Span ane eon why exchange ae carges cn ‘eat nce fr sess 8 1 nats mearby he em west? a 7 State two wos in hie goverment may tng anomie. a panne en wy a une ton Incare d eat ay ose pte fous) State ewo forms thet mnetaypaley maya, 2 distinguish sng ers been fecal and opie plots. 8 bad ees pone, 5 10 3 Explinhatsmesttby the tem mata. State tee eles of ke fare thy ea been, 8) Data response question The UKs economic parfomance Since the lbs nad cs of 2008-09, he paformanc ot ‘he urs economy hs bean rete weal though ere hove Deen sme encourage is Some ey tar the com ston nae 203 Coneision cra ora [Ebon ara [op [i [oe ‘ne Uk working pops 2013 ache 325 millon, Tre pecomance ote URS econ ove tis pefod has ‘are bteen iors Lando an te sot eo of la Fane been ye by doweg ot rs nd ras Unerglonent Sone butheres hve pred wel ee (Geet econo condos: For earl {an Row Group has perlored ora boon enor sales Ment soe of he US ans ae Suge rotor thar ers, uertons “poe he posi corenncrs of the fargo Grermloynet or te URS estes, 05 2 alee the ube of el who wee replied the n203, “ bela te ela of he cages inte mage Tie oe he seed 2098-93 on UR oper Sree tno) 3 Does the ain abl sage at UE snes wilbe vcompese? your sien 6) Essay questions 1 what exert do goverment pos ed at edu Inter cee buuneses rom Sica han islation 2A cain cout benef froma sane fa dracon ecange DSc he een fowch tisstetenent ste for cou of you ce, eo, a) aEE Slate IIL s and its environment 2 Other external influences on business activity 21.1 Introd pam, Advances in smartphone \ technology{eoing ot et sng ang cll of ven png ket of dareag ney ‘eon ecw coy ‘more than $10 ition in exoeding fe 7000 people who ec one oe wales. Approx $0000 of st nding tasred dug be companys a ay fs Tie rhs Geen elses ona the mae eli pie of ‘Stowe appa a lhe tie yt end oF 203 te pny had ed 30000 of i eeachos “A re inthe Wa Sot our a eve at wach spe sed Googe ne expend nrele ov Questions {pan nga ow ang ce 2 Dc the pose beets and daw 0 buses ck Ale and ee fp change fo ecblogy sch ‘trae ini te a mma) 21.2 Political and legal factors Be anepnarof th canary tego on netip ay Smetana naar ame” | senna wt ocr oo sa] ‘ensenblepleson fx Sees Goverment ca ho ‘ce i sma gh poms Government intervention in the economy ‘company th educion i governor: bors yet Indy apd by pen lining the at's le (Gesponsible fo sting the wages of many low-paid worker) ‘ro salud and regulation onemang mes ch 8 allowing new spies a weer compete TA Sport toning te buns enronent i deere ene ‘ir dab ns pes dae feelin by “tea, nt mpeg, advantages an deacanges 2 ‘asinwes bene hog is ference in th cies, oversea rervttion ns te ot Craig Te employee o ay he, orem) mtg te ves of non buses Thr cath ama er fs opetsing nigh pce compettve nas to pay mona ies pa ply wines Was emote conpetive Supponers ol ier ie ap a Sir approat can be tue sural strc overseas proce becuse fhe ae of replat ef uses They ented at govern car preven! the option obs ‘he labns fae pposch hls to prea ener ty in wach ih tte rape er owe Tomever any ada a groups orp ease {be gyveramene suppor abun ties pot ens © eves hey snemplyment and pve. The UK overneck 333EE ote: xteratintuences on bss ctvty Goverment shuld eognee it ecnoic change ie mth minimal interference from the authori is ‘@teough tow wages and poor conditions and consubers (Gy daring nove pct). Some contra sarge, 0 Vietnam announces minimum wage increase gees no ian wag efor wees, Wh Tilreninaa neat in moth pay of upto 30000 ong [WA, equal epronnal SY, ws ited Sy 24 eps deen byte ler of coos evelopment ‘ve rr Mano aod iy at wel a Can To, De Nang nd Mal Pong Zone 3 des prom ees ade ASC (Senn th at fhe cnr Sis amar 4th rly misma wage hasbeen ‘yabay nnn (86129 fr Zane D2 man CUETO for Zane, O23 millon (100) fe Zope 3 nd VHDL alin 4 gure 210 ereyrnteaten Questions ncn ge ler of matatn song ie County necfoe Joly your crt vs —t) The legal environment The lai nework of ler goverin the wa which feces opente. These ree py to bine we {indi Thee famed feos buses ‘egloymen, tons wih "The cess in exits wl ot at you teu specie 1s but ou oad beat om oe alee the rnin your coy ane ees ey Rave on ca cee Th chiro fr yo lansinooeaton Employment legislation Say Pee ttn | nt ce 00a oeIndividual labour law (igen of naa employers The soot snd ope employment se expuned 2 fallow. Working Tine Hepustions 1936 Tas Expansion legato (rece the er ean) st ato arte mamber of oun tat emplbyens ale ee. to wos ech wel Emloyes can eot werk ng ref thy wh, bt eoloerscnmot att hey cf exponen. The maguiiions a0 pave eapoyecs an 1+ The National Mims Wage Act 1998 Ths hshy pict htt tr ceo 1 Apel 199. Te ey Fees of i legalton ae {Sener hot emu wage mie ~ 50 an Hour oe «Employment squat (ge) Reglons 2006 coin pound of ae ts promaion Banus thy teas o~F oo Youll + As thay approach 65, worker wl ave ob gest + mae Equals Act 2010 Tis Act eae nape of ater iscsminaton Ad to sap lesan ini es: The ied aa reton ea pop dla ule sch pono ne UK's pred by tb Ac sever sone crore fhe act. Te proce oeip Collective labour law Calc barging te poe ‘rome eene ono freer —,) ‘aos ind colcve bpitig wel ar aces of ‘Eade unos gaye and employes lo ngaie cha vane of ters. Toe egpaions nay nde wens ‘Sch woliog cons a ter wens res base ‘Stent Dene and ah eben Try yews dla nso ae gavaipicne —— sole m employenenploes toni Howey tt Fry wes ned wen ere ene Pkg Godage wre aly pemied spre by cat per cat te were sat alee ead Union Act 996 Te epson made 2 sce lot 4 Thad Union Reform and Employment ight Act 1993, ‘ion were equ 0 phe employer nanan of en fe ate before king cel nausea acon 0 1 nployment Reation he 1999 Undo ta ade ston waa meer exceeding 30 per cet te ployee ny pric tec demand won ‘Seoglon adhe go loose eae bargining Unfair dismissal ‘tou «ogee, a te UE eglsion rating ur el en ir wwe cy ben ‘Tes eon roles ean noe bt em 35Eid exeratnivreson basins acy 4 fatng to ary out eso econ manner {ero ndrania neg Be nang of semponay cnea 2 er secre or mat re costed ute Eagles, Compensn yang thie ano 2 nal ba Health and safety legislation eth an ly lpn ane nce to des dengue by bn a roel woe ‘he epton nte U ged pro ecesin he ‘eae nd as dened sly oe he a 2 "Doras th UX she lv and Sey A ok 1974 ne meng feud ego wey Patna serpy govern ep 9 pda he ope of he enn at essay. Ths pest els any aril spe of atoning too ch of he ed ya Wi At ges elo gel tion to ener at ey feudal he enployes heath fy and wel a tele The Ac core geo (oe man ad sect of ay espe sd doting ‘Te matnenanc of woke pees goon cot esa cig meg Sy Proving pewecien it Gras basa ern ie to pret be eal and aff moles a fr art asl pcb. Ts means Sharebee ve poe tn propriate he ak Ths + chen mamfce Wo be (ected w promt contac precio removes "oe At ao eure employes foo al land sey proces toe cre of et own andor? ‘aly. Te Heath sd Safey Ecve ISD ence pe i deans at pec ead prem The SE cars seein owing sy ‘vse woe sien Impact of employment and health and safety legislation on businesses ponent eon cn el tet woe Egy oho wot ba afeted scare pal tect ibe ane etseed a poy mare posi Eloy wale red tect e pety {Sted by aces ote or cpp a et owe conten iro, ctor ee iy Sac In encorage + ure oops pte Wore, ‘tng paso fs bone, epomenepanonotsig ie powe Ce wks harenccage te Slip hadi wok 26 ‘he eng of onl shops as be requ or elon ‘ogni in my Gnnuaer ade Fete buses 'Simenest anger woking paces improving be roles compensa of UK ines Fem wee let sop aingle une deal, making coleete Lagi Sinpierand eng maging and cox dentin dopues (Giptes between ins concen he rept ae le menos ie the epsnson Tllowing he asin of he 185 and 18 the UR as sone othe max employee employment ston a the wesern wo Tiss ped count te lions stare fog ese eter Be The UK sma se or overeat Dna esi route ftployant legion eps mice eos. The Us the ene of nwnd isan io he Eopesn Un, ower inspe ofthe employe sendy ppreach a he ‘Us employonat gltion corsa os above de ee thst wou exif eps seein place To ake an ‘evel rca im mae, ode in 1953, ‘be wees oa stnsed 3 ation employees: ested to have sled appro per cet the son's ws ‘Sir te requiem ade eEqulerAt 9 mae “eases thatone te ving enronmene oe the (Seloymen of ted employes ads to producion coms Eploymet elton so reas a enpoy Rene urbe of man prodive wees st han astce ‘sang od sly lien. These ployees tobe css of produc wit ling ay de consbtn tthe ope ‘tebe, nea coos ese a commence "Pe elec ngltn ny be reco mal Se st ave fewer reaps and ste seo Ken ep wih change |S enploymanlans and may st be abla wo eapond 1 te appopite marr Lage os sve exper hanan ‘cure specalitaemore ty be peed wp oe ange They yao Be eo alot spas engl lawyers to aie enon aon soe a eels 3) pee of expoyent ein 21.3 Consumer protection legislation ‘Theta one the mackng antes of bis I he [i seated camumerprcesion egton. Conner otto ae edo decreases At desig © ‘kp come apie anise cary exes Mh pecs or ae of est 1 cafes prc, or example sng guia eh te dented mt prod uch tilde wih arp bits toute pase nang inten domion on wich oa paringsce 201 the Caption a Maes Ahoy (OMN Ba Sle potion of constancy ging conse norman 10 Svc op iby premeig ends ‘hme conse sao to epsilon ends of ‘ecee wihpotner “ere corona qunty af connater poet in OT as esr me Pai of Conds Act 979 The ba eet of hs et Thre pode voi ebuild be +e gop mab want The Camsumer Credit At 1974 Tas A ays own nme eret san ely Be en y exe eprsnons. ‘Sim eur ie emo under ih rat ay be en. tin coast tn tetaiarotecoenuner An exams of Ste dats banned eesive seling by business THe epaons bes aaa Pe Control of advertising ‘Ths is neces o prota the pb rom inpropr we of he Pretasneg ere etn ir nt Tine rade Decne Act 2968 his ct me ending [ncipone ofp ad eves en lence The Abert standards thority Thisbxysupoce he operon of hs coe of pace isan indepen Sou member ae rot the vers ny. The ASA The impact of consumer protection legislation Tae ie cnt eine a consumer Get epulnins, for xsl cas ation (oceecr and pone ery neening cose. Oder ‘Egan, censmer expect rat supply pods ht re ‘le nd conitensy hgh quay. They expec be proceees tobe fom saa sure i of hes expos = Queensland unveils new fast- food laws i ‘he Queen Gover im usa ha annonce plas {oes tarot le 0 epi Teeny conten es Shui on fer mens ear our ies how 4 Sion Asis hy se at tod os eve iy. The [iain be trode ne year dened 9 ae ‘Scand he astalan Cal Tes (ACD aay ave ‘Goce Heath Miner Gof Wc sp a) coin sent pov ition econ be ws Sf ap fon char rbot one ore ‘Reman oat fe ene cote of Oe and Fk eouy hem Ta mea tnt conse gta win DOSE Chet ge move norman ac fobs. "Obeay a acing epeni propeens a ‘Ghecand and suse, One inte aus Qos x Siege atne mower anton nes obese! he ie. By ‘ite much wore ad we want to mle sue poole se Fotis wa as ouch eration spss we mae eh Questions 1 apn hos lar an comma he mst ses of fen iod nose @ 2 wit such ew bet he sakes fod Tessa Queena sy your view. La ‘as eae in ihe expense th a of oe, Ines axes coned by psn. Tey eg is (eprops and ee eras (Er nd betve asc reponse manne isto ust tik oan consi busess chy. Dteouse hss tue, btn io fers opartaes iy of as reciting fms to ops ating and aqsament owe sie fr buns sipping sh eaUBEN. {loin eq sing food pau hove "use eesEibove ecenat nuns on ness city 21.4 Technological change Io th wef cot he eof eho prog incessiey iy Ti nt ew outs ave en x ae ‘echologeal dvances at hae egnsart mpetons oe Ibulsener. Thine! ae pon bea he ape oe ‘eetolgia fr leasing octane in Basen bl ‘ut her sore of chlo change uch as bloeinaogy ‘es teva. Technology and marketing opportunities “Tecpel advances hee etd ew me ew Technology and new products New logy ci oe pew the obs 8 1950 mb elepones were ved of mom poole BY tay 2 tae wee es on esse ts rt compan ah ean Sang sd pe fave gown rt eonequnc fe evap nis Seid conmntotne choy Asst tty the nd of 217 22a pense he wed wi om ‘saphena or Spe, oe mgton ‘Srtene ad ve een et ots hve bee cd {acomavence ofthe snes. 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Pxeaings easiest ‘Stee uy set ew abe = buses Tyee Pose Ibe fled evens axae conse he chance {Oy sve th obo ft pel engines ow pees nd wed a self chang eer mex n i ae. Teo’ rear wa ron hearer recone to be ef igh {tye company ad wang et for th pr ee Se yrenien pe Technology and promoting and selling products (ne of he noel gi uname the Nees Caparo ts devooped alone he wccogcal ‘ert inca a computing Meee has benef om echolgy ems ef beng able to deep ew pods blo fom sing tecrlogy to promotes mace 8 rod Techaologea acrances have alowed Be cOnpsry {produce new produce char Hse al gg supers for eample the ox, ar we points (promot and ali produc nine conus can ‘dovnload the company’s sofware aay cre as at ve ecng as aio proce lps econ sooner lop rans ttc roduc CW cel) deed be wed wh [Windows opening yer bat al igh compaste wh ‘he conpany nent bower (Exper Ths ley at ‘leet he company he appre eel sls le ‘Frade anon a ier beens aly ety om ehnsog 1 ere thes products age fame fr pg ioe ‘echalogeal rcs suc ase tad, bt the company also ‘Ses einclog to tide oped. Ts Tes oe slows ‘puch dowlond me de vin hoe Spleen, od ges, bons, sos pods fe len ins and mover Ris alo used 0 cova ‘ppeslon fr the hone and Pod wach sng thology in tas way ars ssaatalcos, sense os ere i xe race ‘Sees the companys pot arin ao rseases iby cng decison Te company alo rcves maktng eos ae cao ey alec ge aon fea abot ‘eames ad th petreneseabing ore sae nuking eye @Technology and production palon by processes tod redng poses ne eeyefedurngloe cats Technology and communications Technology and production Totene ome Oe patton el groicton, etn i lo Sera ne _— 9Billo oeal eres on business ctniy Virtual design at Boeing eo e it 7 Dreier etere serie in 201, designers ihe Ametan scope mandacures Boe ad ead al sop ote aod cece i es soe prdction tte seoplie so. hing rch eke tan, the Ames desprers ascend ae ei vil Honing 187 Deere ceck a ie eve ded thosnd pon that mae vp he ier Feed ogee, Prey component wa ste ben delle 30 roma, aad sd shape on gil machine ol, seb Inet ng sand were deena orto poles. “he beni oh approach mere sen wh he = ‘Bourges to cacoer he pes obs. Questions 1 Baan wy the ofl dsgn ihe ease sig torgter pray a 2 Diana he pblens Bong ih ave ced in iomodcing Spe of echo na —————_—o ‘even macy mame inden, go Hep os anaes ee “ehoogy ot ay wen proton procs in be naefacng sae hi ao wt ane by bese ht Te fine patucton poss aed on techy Technology and human relations uct itn ese syed bya Se ence aan SUirRantenent bya pte rose 20 toon yh tae he ma ee ‘ee of technology inthe busking seca. ‘tnoloye recon 0 tanepal change on be egy even er ae empyema erst an panty ‘Ty my haves Shoe to acque ew il ke thee [ebro sete a oy her Wages or ies. he new eving pcs ayer grat beats Techelgy ea owe aptoyens reer cool vet working ne eng 1 freed reiponlty and pesy of acest TH an nasi Tha ely be ef ts thf sels ho any cot ks hat maybe eal aoe Fe of Troop nay onal eon a were sek Spe Onin nme cist ‘payee maybe expenive and copa knages may sles ‘New tcnologr Sued produc ete ob and vcmplmat tesa ine, For eve, ums Simulsneouy, employees has been created in induees “The meson of employees to technological change my dhol coe pcg great peo uremscy {lcomnton may exerts diets adaig “male the proces less iol may be most appropat f tepoyee de seo enbrace ny ter ban 9 es a) Google's culture ‘ewe wig hy, ope el maa al company fet Ade cmon bees sine ene Coogee von Ges Pac) tng invert Soom epming snd cfg evenons wi ong a Cre djs Tope ange fon eae a Solo edonon cba ope pes re “Tara pts hed rnp Dte eae oon ‘Rw tebe nay of coxparte Mey nd eveyone onde ge sens nek anne ee to fata To ct open egicerbo» ewetmporan pst of Google's acces ness to He "Song tng pole i appesiel on dsr 308 asus hty ov expense The es ea a a elec fhe dota auience tbe seach npn eves Googe has os oun ti gbe sod Gong engeenng sees re eng engages saken by Google Ses Fo Takis #2 Te When ot at woe Cong pri ee fo Questions 1 een why some employees in manuensing buses ty farting cae a 2 Dots Gong cre site ss ln ecg teenslgeal ange’ any yor vi ba et) Threats and technological change tecnologia change conte teeing wel as rvs See he toa on ee} oop ote Sine cranny por cep trina fs rae “Sty posta dred yee un @ mone ‘Be arse or cane ence open en ru end Spa lve cforaion Ros Mal expec he ‘Slime ost oc o Jn bat sow? WiSe ices s/naneninsehces ones pet by 1500 bo saul. tie. Ris ea mwa ‘Stn ethos of prec, our exmanerh esses 37 tw impo mchnlgy wed In roo 8 cei ew elegy, n watever fom, canbe # ao ain oo norprions anil ures lstaling ew logy Steady Some fs may expesace dey in asirg te snd developecat canbe ge a0 many Yeas may pase before up with ter radar Sal Sec be pi loeb Craig a we raged Tis nealing ‘Sigeuuntaicones in waits sopping Bah eclogy Dro The es of tage ao scorn he Wo et avg at ar ben bog bon in pa bye eh cotta cal covet Fo hs eco athe itl mah ocr fice ‘ler ope ee ne compen atc Ince vers lake eo apt wats eared of hem tn he ehcogy uy at bearer expece. Ths ay ‘ower eels of soda nd bigberprodcoon onk 21.5 Competitors:and—— suppliers fae ab pan re cmeccte Spenco tsa ine Market structure ‘She fora pheber a yon wil Bo bode. con You may ony Sd» erry 8 hat pede gst OF tocdte the mae tly. The meer of empiri There ay onl cup of enenas in Your tow tee thee are reaivey few competes there maybe ese pose ons us 9 ans be uy oft serve ‘Sompeirs casos have choice sd the prs is. © ‘Sot ccna eds more by roe bases oe “he ssf ecto ao inp. Tere can be aBil ote eet eres on bss city spl and dtr nd trefore may hae owe ne (Gree, kay Dp wh upper on ge ower pat ooo) Ths on ena rhe ab shave to coopera Set collionse wu egerim becaecol las inet tem waned Par ee esl: Br may ‘epee ed fallow he pce sty he lges Entry threat “The wy bine eave wil at ot be ace bythe eng uber of compas th mare wl a depend Ce ow katy ht ter ns wl ene he mace inthe Ene "Ts nce depeds on ke eine fbr eat ‘arses wey re crt make scl oe 3 ‘ste, Forex {Entry cot There ay be hey nveament eget set {pe bane bene of pec elpment er aes ‘eoded You in img hat tig op aol sre ‘Cte cou yeque que ge sen of ane Tis Wil {Stomacalyske cor se eee or 1 rand lopay ft eoahihed Ga ve a igh eel of van ten # wb mae forbs et ‘he maser bene he pols ang ent at ‘are beat eer For ena, ayo ike aed Aakas ‘pocorn Wigley chewing gum aes yt hse ‘even qute oh La estos Ifthe esing provider aa patet his ‘tee You cnn iit nena without permis (Gasca paying hing. oro a ety a ht thei alee he mace re eialy te fom compedtion ans forthe mame Tis (meant compete preted th ny alt he ali ft s,Q hen etn races ‘yt, he mat very compete, ig bee ee Ter corp eng up aun op aot pula ‘rpc ica sed ae tho ence pes nme tthe rcs charged and qty of snd see rode “These lone shops dog td opening ad nef of fencing eee fh wey ih vl of compton. TH {2 goad fr caters bls 0 god or he ener who hve cen wry sponse es eee he Buyer/supplier power “The cape vont ns meso pends ct post bayes sndaspion sb lon ‘ey oper en ty tbe et hae mend {vio olsen hy have pone ay a at Sects ey nwt 0 “he perf pple apn theater” coy rb eich ‘Moni sane pers power 282 tes of be mpi and he exe owl epends fon ater busta —if he pp anal an elles co Iie then he see ashe power fo busines oly eres seal percentage ef th cps ‘Ser tense sper a mee Foes Say byes power acs what appene ins mask ithe ayer at li of power be orate maybe ble puch be pce dow a ni th prod! nde met thee i uy wl hare power 1 hve late ew of he a ans yon te hess for xp for aps feta my ‘Spent hese nx hat many mary poate ‘oe ipl ae cept on ‘sRharrany aerate spi 0 can ich vay lor oe spp eect ee. Ts pte ‘Sop ina weaker agenig pasion. Actions to change the competitive environment Busse al want yt make the compete evomen ‘oe favour Tis means they WOU Wa high ure to ey sta ber bois ul at exer ‘bemste wich would enone a compete tea Yew competes nd bate sod cancer coal iy sara lw suppl powers th they have power ov supple: fea men nyc dena ow pea 9 ot ave te poy gly forte ners obey can ol on the moeey Sete tern inthe ba nage ‘Tow bayer poner oat hy se depend an our prod, "Tin sul ake dean more pie nese and ou sy beable cage moc fort People in business Michael Porter ‘sania hs chapter bse the we of lnese rer Nth! Per ee Fra sate igre 214 rare foeBid otes exert iter on buses city ahr um Santer oa a Teenie hes Peso ot ase ons se Say irc Ten aaley tion Sete ‘ epa Can a (Rese memes ree ps ssnype ene Tepe oa Ea eects eS loo ome ordre pat erin peo teem, Stengercomntieoe | Pee ers ig 215 shows th pinay sah fer uses, ibeugh cher we Wher wing au setae ‘Einperart¥ dveap anaes uly Ths s ingest # ‘ou step eave oo many skal ups isk ecerirate oh he the a ees eat, SF BSR WIRY STIS responses ply ott ther manage want dso, pl ce they fear eine pbc fri be aged tt secay response hl adiorl eter expendi. Areas of social responsibility “he ae fs bts orapw = Teg mf ea pees Sou ei cece ota oe ‘cope nro ecg ay eee ‘Sal ropmsiny woe nt ef oo Be ‘Shueeya rhe oe den tpn Sedo rapes tan ares {Topentic wo consume Tie comes se eacwbernaed whee doe iertan nine! nt tuccpment coe a ‘ecetingy, coos have en beter fone abc Proc nerves and rep compl wen (Since eth dwn Toe rs of omni at ‘eo at snes hve bee quedo atv mace ‘ona yong ee rene fh ons ‘1 esponslis to cmployees Businesses have «vey clrespensbiesto he enpoyes at aa ee ‘eqn Fr exams sod prove hel rploycs th ining develo ei sta fla ‘owe ol le ue tht gis fees in ‘Govlpig cents Gere pope lepton anak ‘ei ace poze fl Tx my msn ping ihe apes Std cong aol enployment ss. + Responeiiiies ote lel commenity Fens ‘bento he pot fhe llc, Tey “ceecouage th by mening et epost is tal sakeeler gop. Ths may ental proving sere ‘Spon eel apples where posible ‘Gavin th te Sashes open ed joie eps (hoo nage nel even + Responses tp canomers Cases ze il 9 Ices Ofteng high any use ser, pang Fipquaiy pros tare wl dese an aaa {Wasa ease pees shold cree sed castes {nd ite pouty greet eat tines «Responses te pliers Dsnees cn prom {onions with sophie by pia prone, ncng ‘render tlering lange oss or 50 "hee ae oe el reqaerens, ad mig et ghee es formes component but a st ‘pla :o meet har on erponsbnes for exanpl nthe enimenane of enponen In what ways can businesses accept their social responsibilities? ute wk ity ef eis con ng enor tervoponitso bet ealctese rm Formanneg bute e npetfer oc “carte oes in moses ores ‘cours mest fe owns re ee Soe Bey Sop cont al oy ‘Sas ee or ay omgeors are Sette ono lessee cf pot ‘any sae your corm norco «Nay nfs ne conden pr ge {center Aung pan pecs Coes Seoul cn nes ree yor Fie ane woe wcndes pe Fines pigeons son 30 ok ‘culund arse pened se 3 Spee fata lcaUnilever says sustainability key © | to new business model consumer procs oufcurerUnerer has unvee 'oew stn me pri sina athe hear of sla ‘peroneal the envsonmestal pact of produce wl oublng sale ovr the new en Yat uc ere al Pina sl th new noel mare cy “The company sd even predoce anal report om is Trumber of welinow snd popular bands ch a Pea, ‘Dove Hon, PG Tad Mee & Jed hee oveschng ‘one chee by 220, ct 50 pr eo envtoaent npc of is pods n «eLnrove the en and wellbig of edna coined: "Thee compeing ct frre [powih reas communes donated #8 “Te company sino ever hese came ing Eran enema energy 40 perce of a ase eng tater conaenpton by 6S percent on 1996 levis and reducing levee of al ft a spain Food, rasa hy onl be chee ah he ne of nae [erometlonstons (NCOs), goremens ane pe. 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Howeve, eae he ‘ema can fence thee el cae orn en ‘Rend athe prim oan as pone Corporate social reports Corpor soll repo (ES doce eg ox Sa ne ein tt kobe ele epee exponabiey enews. i ne me of Serco hve expertene! renee bead hat hese al eo be iain ems oft cron floor conideron cher employer an por fhe ‘monty A gowng proprio ness ae ene Sua! eaponbiy tepning or oc ccouting To ‘repens coats ote bes of cing 2 ‘heayropole ares ute dots for exp) Inte bent ced, wtih wy ae uct iSrmnenry erm fetes ne clos ne lps Ae bon mah tt 5Ello exeratinucesonbusins city Apple remains the world’s most admired company in 2014 orthe seventh ahs yar Apple har been mame he work's ‘wo died compan allowing ong by many eal Dusinestes Dep a Ais yar nich sw Apes ae piece, he company emai the en ofthe coro foes "he onc pay now ote Phone a tee sy nection rods connate op pt on ths ers for he seven year in owl, te et ‘abe bi on he plane acon nbd, ugh {St billion n evear ana $9 ion rots in 213 ‘The company uy wis Se ace & Deon Inn se nt ig naeae pote Mr ae Feces sna o pie bu he company ‘eporey tonne stentan cs mal deves amuson an Google were No. Pana No.3, especie, hag nthe plans fom bce ang 2013. amore oer ‘coh companies in orune' op al a he TM Ne 16 ‘Smog ar 2, Nason to, 24 and Facebook ao. ‘a te tot, ny 21S) Questions, “Vapan how a company tat cares ey Hg pies os prosie canear pdt of $9) boa coe yer 2 Fowhat nest emaning he word mow aed Cenpany import forte mangement tun spl U8) —————O ‘te ote evel ems ty, mare egured ‘oda ups inplemen pcr ann the nye ws ‘hay miler he apes of hr babes whe ng ‘pen soy penny. Ti ay tude ae such ng suai cces ofr mats 1 cng spins de mepnnly avg fore, the ‘eof ela hoe ‘opening an een hell ed sly ply above te ea Ieqoemens, hry peeing te webng of eaployees ss Spenco prces f enoemeta eager ‘Sad montosng the fc ef produston onthe evennen tng ey ndaking aceon of te mor nso ecisoo-alng + pean tape tv comps uh paying eames sf i mo esd ge one ‘eisconman fac an ndependes by to monte the ‘cvs thee pices and te eens on cer every The ap to pense takers ate es Publi’ at genuine Once esol opr compl rms ree ad epost a (Ge ca bea lable exe or Sms end. They nny ety ants or premiy ntsc) bebanor eft Protea Th pt rome export inge ‘eben ng nd ep oan. Howe, ‘Smbicgon soa tha Kind wea gute a2 re ‘ebllyeponae Manspen mus ens Ct soa pele: fe cated ours al els wii the erpssion that employes recone hem Sent sts a be ett ening tt he bse reas cay ‘spon nd pobre soc ds shoul be resale see The dager le cv speach tht {etl mt pbc wenn nfm son 01% ‘end wth agg oo lor a, cones wits ny re fms proing some form of ee Homers he gab fhe epee promi hong ame othive ha eponte socal pons incependey ui fs teary. 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Fs a ole ppt octhe oxy of wae products Pally, businesses ca wt ‘abe Ths cold prove taco ental sare New law for Philippines’ mining industry signed Execs Orde 79 the new Ming Law that intend rend the ning Ato 195 ad make bse of espe wo ol ghee nd nt ail ues “Te cw ew slong wa pene mies aed Scereuy Ramon Pst new ply one forthe nd. ister: Daring the 2012 Mining Corference athe Soe 28——————E err Blo eceat vere: on tines city she new on lang spose act "The $2 iin in ‘nang iovesmeats we expecting is er mil nt hppen! ‘Ropu sl intr po onthe Et dy of he cee. questions 1 Bilan who mig best and who mig aera oneqoent oi sv Why should businesses accept social responsibilities? ‘seas aoe hat by meting tei cal esposbiltes nea eo dice probably. 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Mul ces pacent ihe thane mace rege ues pate pla sou fe inton bla goer varity of properties han not cf tseargettr indo read sl and tiene proper 1 iecarmentto mat tautomers rds stall a Deal, acid arses vce «9 ean to antaneeis epusation for ual protic. aot te companys stays se of epee sic repre (es of whch Rar on ola uses ‘Mee tri rd bcs on mere expense rows ipertnsy crepe star whence cn oso rset [Goer cc nore Bes 2a, prs oe trvenmaaly fend oa pb uc te eau Ibresteely ine matatng dna’ art ese has sown hat psy cing {oreugper eos canon te Uk demand fr os ‘ype ofnousnga the Unarbacome mere pe lsc ‘hovestoeh fa ako weve sph el ol sates oh Marae sada esparabie bev ‘questions 1 ane he droop changes that tanec re osrbulde carport las 0) 2 dics ow the estence of age congo ight Sens Me Hose deco 0a 3 Doyeu thing at Miata Heuser shoul ‘proce CSF? ty your ew. 16) Essay questions 1 owt ear doin on enploye proecton kere the peormane of isms? ‘oo, 2 ‘Corer abou gee days oe eens ‘hero roatant socal far alacig te oar rarer ral bse sas he exert shen hesaterent se eo) Past paper question’ Fas the Eaten Motor Ease sus on ges 8-70 a ae alone ese Assn Este Motos asa facto inyour county, ‘ass the pct fay two eg oto on ts ‘aon options o conte esting Sa emt Sus ‘rr apr ayn 208 m