Study Unit 2

Site: eLearn 2022 Semester 2 Printed by: Farai Mandonye

Module: Strategic Marketing Date: Thursday, 4 August 2022, 3:25 PM
Book: Study Unit 2
Description
 Table of contents

1. Study Unit 2 – Chapter 2 – Analyse the Current Situation

1.1. Study Unit 2 – Relevance
1.2. Module Outcomes
1.3. Study Unit 2 – Unit Specific Outcomes
1.4. Assessment Criteria
1.5. Study Unit 2 – Glossary
1.6. Marketing audit (situational analysis)
1.7. Characteristics of a marketing audit
1.8. Interactive Revision Activity
1.9. External environment
1.10. Technological environment
1.11. Economic environment
1.12. Social cultural and ethical environment
1.13. Demographic environment
1.14. Political environment
1.15. Legal environment
1.16. Environmental scanning and identifying influential external forces
1.17. Interactive Revision Activity
1.18. Competitor analysis (market environment)
1.19. Porter’s Five Forces model
1.20. The internal environment
1.21. Resource-based analysis:
1.22. SWOT analysis
1.23. Apply Porter’s five forces to the industry in which Nike operates in. (10)
1.24. Conduct an in-depth SWOT analysis for Nike. (12)
1.25. Study Unit 2 – Progress check
1.26. Interactive Revision Activity
2. Questions and Answers

3. Progress Checklist
 1. Study Unit 2 – Chapter 2 – Analyse the Current Situation

Companies are affected by lots of different things; their marketing environment is made
up of all of the things that affect the way it operates. Some of the factors in a company’s
marketing environment can be controlled by the company, but some are uncontrollable.
Companies need to understand their marketing environment so that they can make the
most of positive factors and manage the impact of negative factors. A company’s
marketing environment can be split into three parts: market environment, macro-
environment and micro-environment (Learnmarketing.net., 2019).

“A company’s marketing environment consists of the actors and

forces outside of marketing that affect marketing management
ability to build and maintain successful relationships with target
customers.” – Philip Kotler
 1.1. Study Unit 2 – Relevance

This step of the marketing strategy is essentially a situational analysis which is usually
done by conducting a comprehensive marketing audit. “A marketing audit is a
comprehensive, systematic, independent, and periodic examination of a company’s – or
business unit’s – marketing environment, objectives, strategies and activities, with a view
to determining problem areas and opportunities and recommending a plan of action to
improve the company’s marketing performance” .
 1.2. Module Outcomes

Let’s recap the relevant module outcomes for this study unit:

Conduct strategic analyses that should include the analyses of the current external
and internal situations, market analyses, customer analyses and a competitor
analysis.
Develop a customer-driven strategic marketing plan by:
Producing a marketing strategy that is based on the appropriate direction, setting
marketing objectives and focusing on the marketing mix elements.
Producing a marketing action plan based on the above-mentioned marketing
strategy.
Including control measurements/marketing metrics.
Including a realistic financial budget for all marketing action plan elements.
Evaluate the success of the marketing plan.
 1.3. Study Unit 2 – Unit Specific Outcomes

After completing this study unit, you should be able to:

Conduct strategic analyses that should include external market analysis, industry
analyses, customer analyses, competitor analyses and an internal analysis as
follows:
Conduct an external analysis.
Conduct an internal analysis.
Prepare a SWOT analysis for a marketing plan.
 1.4. Assessment Criteria

The value of an organisation’s resources, assets and competences is analysed and

evaluated in terms of their support and value created in the achievement of competitive
advantage.
A comprehensive audit of the external and internal marketing environments is
conducted using marketing research, market intelligence and environmental scanning
to generate market insights.
A comprehensive analysis of both the competitors and suppliers is conducted resulting
in clear recommendations of the types of value-delivering strategies that can be
employed in future marketing strategies.
 1.5. Study Unit 2 – Glossary

Environmental scanning: The process of collecting information about the

marketing environment to help marketers identify opportunities and threats and
assist in planning (Wiid, Cant & Makhitha, 2016).
Competitive advantage: Superiority over competition based on the value an
organisation creates for its customers in a way that its competitors cannot match. A
sustainable competitive advantage (SCA) is achieved when the advantage resists
erosion from competitors (Reed, 2016).
SWOT: An acronym standing for ’Strengths, weaknesses, opportunities and
threats’. It is used for analysing an organisation’s internal capabilities and the
external environment in which it competes (Reed, 2016).
 1.6. Marketing audit (situational analysis)

A marketing audit is a comprehensive, systematic, independent, and periodic

examination of a company’s – business unit’s – marketing environment, objectives,
strategies, and activities with a view of determining problem areas and opportunities and
recommending a plan of action to improve the company’s marketing performance (Kotler,
Gregor & Rodgers, 1977, p. 28).
 1.7. Characteristics of a marketing audit

Comprehensive

A marketing audit covers the company’s marketing environment, objectives, strategies,

organisation and systems. Underlying problems are difficult to overcome, unless one is
able to identify the source. For this reason, the question base is kept as broad as
possible.
Systematic

The usefulness of a marketing audit will normally increase to the extent that it follows an
orderly sequence of diagnostic steps covering the organisation’s marketing environment,
internal marketing system and specific marketing activities. It provides the basis for a
SWOT analysis (strengths, weaknesses, opportunities and threats).

Periodic
Typically, marketing audits are initiated only after sales have declined sharply, sales
force morale has fallen, and other problems have occurred within the company. The
irony is that companies are thrown into a crisis because they have failed to review their
marketing operations during good times. A periodic marketing audit promises benefits for
companies that are in good health, as well as companies that are in trouble. “No
marketing operation is ever so good that it cannot be improved – even the best can be
made better.”

Scanning the macro, market and micro environments

The macro-environment or external audit consists of the economic, technological,
political, legal, social and cultural aspects which affect the organisation. There are
various approaches that can be adopted to scan the macro environment, viz PEST,
PESTLE etc., according to (Hooley, Piercy, Nicoulaud & Rudd, 2017, p. 56) important
changes are taking place in the environment in which marketing operates, therefore
there can never be a comprehensive approach to analysing the environment, however
PESTLE is one of the most comprehensive environmental analysis tools (demographic
and international factors can also be added to PESTLE) according to Jooste et al.
(2012).
The market environment examines the company’s markets, customers, competitors,
distributors, dealers and suppliers.
The micro environment (internal environment) refers to the culture, members, events and
all the business functions, such as marketing, human resources, finance, etc. within an
organisation that have the ability to influence the decisions of the organisation.
The marketing environment is the combination of external and internal factors and forces
which affect the company’s ability to establish a relationship and serve its customers.
The marketing environment of a business consists of an internal and an external
environment (Pahwa, 2018a).
An organisation’s success is influenced by factors operating in its internal and external
environment; an organisation can increase its success by adopting strategies which
manipulate these factors to its advantage. A successful organisation will not only
understand existing factors but also forecast change, so that it can take advantage of
change within the environments in which it operates (Learnmarketing.net., 2019).

External analysis

Consumer/Customer analysis

Competitor analysis

Industry analysis

Political issues

Economic issues

Social/Cultural/ ethical issues

Technological issues

Legal issues

Environmental/ ecological issues

 1.8. Interactive Revision Activity

Click below to complete interactive revision activity.

 1.9. External environment

The external environment is dynamic and is prone to regular

transformation and not controllable – thus difficult to monitor
or to predict. Changes that occur in the external environment
happen over a period of time and many variables may have
an impact on the environment – thus management may not
always be aware of a major change taking place until it has
happened. This also means that management have no
influence on these external changes – but they do need to be prepared and have
contingency plans in place to reduce the impact of any negative changes. It is critical
that management constantly analyse the external environment to ensure that they are
prepared for any changes or opportunities that may arise.
During your undergraduate diploma studies, and with specific reference to the business
management modules, you would have been exposed to all aspects of the external
environment. These concepts would thus not be new to you.

Watch the following useful video clip:

Watch this following video to gain a better understanding of the PESTLE analysis:
(PESTLE – The simplest explanation ever, 2017).
 1.10. Technological environment

Every new development in technology may lead to a vast number of opportunities or

threats – specifically in terms of the marketing environment. Let’s just think back to the
impact that the development of a USB flash drive had on a recordable DVD. A company
that manufactures recordable DVDs needs to think differently and find alternative
solutions to still be relevant against the USB flash drive market.
It is thus critical for a seasoned marketer to track technological progress constantly,
evaluate any new opportunities and threats that may arise, spread new innovations and
promote new inventions based on customer needs and market offerings.
Marketers need to pay specific attention to the following areas to ensure no opportunities
are missed out:
Speed of technological change.
Regulating technological change in terms of safety, consumer rights and protecting
the environment.
Increased research and development budgets.
Product improvements versus high research investments.
Limitless innovation, specifically in terms of the social media and cellular phone
markets where changes are expected more regularly by consumers.
Read the following article:
 Read the following article that was published in 2010 in AdAge – although
considered an ‘old’ article, the content is still relevant to today’s
marketers: http://adage.com/article/cmo-strategy/marketing-brands-embrace-
technological-change/141478/ (Dan, 2010).
Organisations use technology in many ways, they have:
Technology infrastructure such as the Internet and other information exchange
systems, including the telephone and conference calling.
Technology systems incorporating a multitude of software which help them manage
their business.
Technology hardware such as mobile phones, computers, photocopiers and fax
machines which transmit and record information (Learnmarketing.net., 2019).
Technology has created a society which expects instant results. This technological
revolution has increased the rate at which information is exchanged between
stakeholders. A faster exchange of information can benefit businesses as they are able
to react quickly to changes within their operating environment. However, an ability to
react quickly also creates extra pressure as businesses are expected to deliver on their
promises within ever decreasing time scales. For example, the Internet is having a
profound impact on the marketing mix strategy of organisations. Consumers can shop 24
hours a day from where ever they want and however they want via smart phones,
laptops and tablets.
 Figure 2 (Desjardins, 2019)

The pace of technological change is so fast that the average life of a computer chip is
approximately 6 months. Technology is utilised by all age groups; children are exposed
to technology from birth and a new generation of technology-savvy pensioners known as
‘silver surfers’ has emerged. Technology will continue to evolve and impact consumer
habits and expectations, organisations that ignore this will hinder their success.
 1.11. Economic environment

The economy always has an impact on marketing – whether it is weak or strong.

Interestingly, marketers may be affected positively or negatively by a strong or weak
economy. Making lemons out of lemonade can benefit certain types of businesses in a
weak economy – a strong economy can be negative for others. The bottom line: it pays
to understand the market and the effect the economy will have on it. It is crucial that
marketing managers be aware of the economic environment and that they can devise
strategies and plans to benefit from changes or to minimise the negative impact of
economic changes.
All businesses are affected by national and global economic factors. National (and
global) interest rates and fiscal policy are set around economic conditions. The climate of
the economy dictates how consumers, suppliers and other organisational stakeholders
such as suppliers and creditors behave within society. An economy undergoing
recession will have high unemployment, low spending power and low stakeholder
confidence. Conversely a ’booming’ or growing economy will have low unemployment,
high spending power and high stakeholder confidence (Learnmarketing.net., 2019).
A successful organisation will respond to economic conditions and stakeholder
behaviour. Furthermore, organisations will need to review the impact economic
conditions are having on their competitors and respond accordingly. In the current
business world, organisations are affected by economies throughout the world and not
just the countries in which they are based or operate from (Learnmarketing.net., 2019).
There are numerous economic factors that should be considered, some of which may
include inflation rates, exchange rates, savings ratio versus debt, country debts,
employment rates, economic growth, etc.
Read the following article:

Read the following article published in smallsbusiness.chron.com to further

understand the impact of the economic environment on
marketing http://smallbusiness.chron.com/economic-influence-marketing-
59889.html (Bradley, n.d.).
 1.12. Social cultural and ethical environment

Coupled with the changing economic environment there has been a continuous change
in social attitudes and values that are likely to have important implications for marketing
management (Hooley et al., 2017, p. 60).
Attitudes to specific products change through time and at any one time can differ
between groups in society.
Marketers should understand cultural and social changes and be prepared to satisfy the
changing needs of consumers. Consider the following examples of contemporary global
cultural change and the possible responses of marketers (Learnmarketing.net., 2019).
Leisure is becoming a bigger part of many people’s lives, and marketers have
responded with a wide range of leisure-related goods and services.
Attitudes towards the work/life balance are changing. The nature of work
relationships can affect companies’ profits; for example, the dotcom bubble and
dress-down Friday had a disastrous impact on the formal clothing retailer Moss
Bros’ fortunes as consumers’ attitudes to work changed.
The role of women in society is changing as men and women increasingly share
expectations in terms of employment and household responsibilities. Examples of
marketing responses include cars designed to meet the aspirational needs of
career women and ready-prepared meals, which relieve working women of their
traditional role in preparing household meals.
 Greater life expectancy is leading to an ageing population and a shift to an
increasingly elderly culture.
The growing concern for the environment.
Population changes have a direct impact on organisations. Changes in the structure of a
population will affect the supply and demand of goods and services within an economy.
Falling birth rates will result in decreased demand and greater competition as the
number of consumers falls. Conversely an increase in the global population and world
food shortage predictions are currently leading to calls for greater investment in food
production. Due to food shortages, African countries such as Uganda are reconsidering
their rejection of genetically modified food (Learnmarketing.net., 2019).
Read the following article:
Read an interesting article at: https://www.mbaknol.com/marketing-
management/the-social-and-cultural-environment-in-marketing/ (Mbaknolcom,
n.d.).
 1.13. Demographic environment

Marketers should use information gathered on demographic subgroups with specific

reference to their behaviour, preferences and lifestyles to develop marketing strategies
and new products and services that are aimed at the changing needs of these groups.
Read the following article:
Read this article on the demographic environment to understand it
better: https://blog.udemy.com/demographic-environment/ (Mukherjee, 2014).
Ecological / environmental environment
Consumers have become more aware of eco-friendly products and this needs to be
taken into consideration when conducting an external analysis.
 1.14. Political environment

Political factors influence organisations in many ways. Political factors can create
advantages and opportunities for organisations. Conversely, they can place obligations
and duties on organisations. Political factors include the following types of instrument
(Learnmarketing.net., 2019):
Legislation such as the minimum wage or anti- discrimination laws
Voluntary codes and practices
Market regulations
Trade agreements, tariffs or restrictions
Tax levies and tax breaks
Type of government regime, e.g. communist, democratic, dictatorship.

Watch the following useful video clip:

Watch the following YouTube video for an explanation of the political environment
(PESTEL analysis – Political factors, 2016).
 1.15. Legal environment

Non-compliance with legislative obligations can lead to sanctions such as fines, adverse
publicity and imprisonment. Ineffective voluntary codes and practices will often lead to
governments introducing legislation to regulate the activities covered by the codes and
practices.
 1.16. Environmental scanning and identifying influential external forces

Watch the following useful video clip:

Watch this interesting tutorial on what environmental scanning is and how it should
be done

(Environmental Scanning and Approaches, 2017).

Conducting an extensive external analysis studies macro-environmental factors in an

attempt to build marketing intelligence that can be used by marketers.
It is vital that marketers assess the impact that the macro-environmental forces may
have on a product, service or brand.
 1.17. Interactive Revision Activity

Click below to complete interactive revision activity.

 1.18. Competitor analysis (market environment)

The competitor analysis, together with customers, suppliers and intermediaries forms the
market environment. The customer analysis is covered in Chapter 3.
Competitor analysis has several important roles in strategic planning
(Learnmarketing.net., 2019):

To help management understand their competitive

advantages/disadvantages relative to competitors.
To generate understanding of competitors’ past, present
(and most importantly) future strategies.
To provide an informed basis to develop strategies to
achieve competitive advantage in the future.
To help forecast the returns that may be made from
future investments (e.g. how will competitors respond to a new product or pricing
strategy?).

Various models could be used to assist you in the analysis of your competitors.
Some of the most well-known models are mentioned below and should be investigated
further. Many of these models are covered in the Business Management 3 module as
well.
 1.19. Porter’s Five Forces model

You can consult various business management textbooks or consult your Business
Management 3 module study guide or prescribed textbook for more information on this
model.

Watch the following useful video clip:

Watch the following YouTube video

(Porters five forces, 2016).

 1.20. The internal environment

Internal analysis

An analysis of the company in terms of

People/Culture/Skills = Human
resources and capabilities

Financial resources and capabilities

and previous performance

Informational resources and

capabilities

Supply resources and capabilities

Current marketing mix (4Ps)

Business relationships

From a marketing perspective, the internal perspective is of equal importance to all other
environments – specifically because the internal environment (micro-environment)
directly affects all company operations and vice versa.
The reasons why it is critical to analyse the micro-environment is not just because it is
important for the sustainability of the business, but also because the organisation needs
to be effective in terms of how it markets its products and services to its customers. If, for
example, the internal resources are lacking, the company would not be able to produce
or market its product to its customers effectively. The internal environment is all about
people, capital and equipment.
Various internal analyses can be done, one of which is explained below. Please consult
various relevant marketing strategy textbooks, as well as the IMM Graduate School
eLibrary platform to learn more about other possible internal analyses that are available.
 1.21. Resource-based analysis:

Watch the following useful video clip:

Watch the following YouTube video to understand this analysis better

(Resources to Capabilities to Competencies, 2014).

 1.22. SWOT analysis

Once all the analyses are done, it is important to perform a SWOT analysis (Strengths,
Weaknesses, Opportunities and Threats). Once this is done it will form the basis of how
your organisation will determine what its competitive advantage is.
The SWOT analysis is a systematic way of integrating internal and external analyses to
find a strategic fit between the market and macro-environment and the internal aspects
the organisation has to offer.
SWOT is the acronym for the internal Strengths and Weaknesses of a company and the
environmental Opportunities and Threats facing the company. SWOT analysis is the
systematic identification of these factors and of the strategy that represents the best
match between them. It is based on the assumption that an effective strategy minimises
a company’s weaknesses and threats on the one hand, and on the other hand,
maximises the company’s strengths and opportunities. Seriously applied, this simple
assumption has powerful implications for the design of a successful strategy.

Table 2.1 Applying the SWOT Analysis (Wood, 2020, p. 29)

Professor Malcolm McDonald made the following observations and suggestions in his
book ‘Malcolm McDonald on Marketing Planning’ :
Don’t use meaningless words such as ‘high quality’, ‘low price’, ‘personal service’,
‘product strengths’ etc. in your SWOT analysis.
Set aside time for conducting a proper SWOT analysis on segments.
He further offered the following guidelines to ensure a more meaningful output:

Figure 3: SWOT analysis (McDonald, 2017)

Watch the following useful video clip:

All seasoned marketers should watch the following YouTube video
 (How to create a useful SWOT analysis in Marketing, 2013).
Read the following article:

Here is even further information on how to conduct a SWOT

analysis https://www.oxfordlearninglab.com/blog/1139017/swot-how-to-do-
it (Oxford Learning Lab, 2017)

NB! Study Units 2-10 are based on the Nike Case Study which is labelled Appendix
B near the end of this study guide.
 1.23. Apply Porter’s five forces to the industry in which Nike operates in. (10)

There are a wide variety of external factors that determine the strengths or intensities of
forces impacting on Nike Inc. However, based on Porter’s Five Forces analysis, the
following are the intensities of these forces currently influencing Nike’s performance and
industry environment in the athletic footwear, equipment and clothing market:
Threat of new entrants or new entry (Weak Force).
Competitive rivalry or competition (Strong Force).
Bargaining power of buyers or customers (Moderate Force).
Bargaining power of suppliers (Weak Force).
Threat of substitutes or substitution (Moderate Force).

Threat of New Entrants or New Entry (Weak Force)

Key barriers to entry, which are the advantages that organisations within the industry
have over the new entrants (incumbents, i.e. companies operating within the industry
currently) these include the following:

New entrants or new organisations can disrupt Nike’s industry environment. This
element identifies the extent of new entrants’ influence on organisations in the
sports shoes, clothing and equipment market.
The following external factors contribute to the weak threat of new entrants against Nike
Inc.:
High cost of brand development (weak force). The high cost of brand development
makes it difficult for new entrants to succeed in competing against large
organisations like Nike Inc.
The high economies of scale provide Nike with a competitive edge against new
entrants, considering the company’s global production and distribution network for
its athletic shoes, clothing and equipment. High economies of scale (weak force).
The moderate cost of doing business further limits new entrants’ ability to disrupt
the industry environment. Based on this element, the threat of new entry is a minor
concern for Nike Inc. Moderate cost of doing business (moderate force).
Product differentiation – it is difficult to compete against differentiated products
such as Nike, with the unique features of many of its brands so well positioned.
Strong brand identity – Nike has a strong brand identity making the market very
unattractive for new entrants.
Competitive Rivalry or Competition with Nike Inc. (Strong Force)
Competition determines how Nike Inc. maintains its share of the sports footwear market;
competition here is fierce. This indicates how competition influences the industry
environment and the performance of individual organisations. The following external
factors create the strong force of competitive rivalry in Nike’s case:
 The low market growth rate is partly due to organisations’ high market penetration
and market saturation. This condition creates a strong force, as Nike and other
companies compete for a market that grows slowly. Low market growth rate (strong
force).

In relation, organisations are highly aggressive in competing for bigger market shares.
Also, there are only a moderate number of organisations that significantly impact Nike.
Based on this element, the external factors that lead to strong competition require Nike
Inc. to focus on market development and product development to ensure competitive
advantage and a growing share in the global athletic shoes, clothing and equipment
market. High aggressiveness of organisations (strong force).
Bargaining Power of Nike’s Customers/Buyers (Moderate Force)
Nike’s customers directly affect business performance. This element shows how
consumers determine business competitiveness and the industry environment. In Nike’s
case, the following external factors contribute to the moderate bargaining power of
customers:

The low switching costs make it easy for customers to buy sports shoes other than
those from Nike, that being said, switching costs in terms of brand performance
versus price will come into the equation when considering to switch, but overall low
switching costs (strong force).
 The availability of substitutes also enables customers to buy other products instead
of Nike, as a result of the many choices available to consumers in terms of
substitute availability, this results in a strong force.

However, the fact that individual customers, in terms of sheer numbers who could
potentially switch at any given time are small in number, this minimises their individual
impact in terms of this force on Nike. These external factors lead to the moderate
bargaining power of customers.
Bargaining Power of Nike’s Suppliers (Weak Force)
Suppliers affect Nike’s business through the availability of raw materials. This element
deals with the suppliers’ influence on organisations and the industry environment. In
Nike’s case, the following external factors create the weak bargaining power of suppliers:
Nike is a global, dominant brand in its market. The high number of alternative sources of
supply minimises the effects of individual suppliers’ actions on Nike’s business.
The moderate size of individual suppliers supports a moderate degree of suppliers’
influence. Nonetheless, this element shows that Nike experiences only a weak force
representing the bargaining power of suppliers. As such, suppliers are among the least
significant concerns determining Nike’s strategies in the sports shoes, equipment and
clothing industry environment.
Threat of Substitutes or Substitution (Moderate Force)
Substitutes pose significant threat against Nike’s performance as a leading player in the
global athletic shoes market. This element identifies the force of substitution on the
business and the industry environment. The following are the external factors that
maintain the moderate threat of substitution against Nike Inc.:
The moderate availability of substitutes imposes a moderate force against Nike, as
customers have considerable alternatives to Nike’s products. Moderate availability
of substitutes (moderate force).
In relation, customers have a moderate likelihood of considering substitutes
because of the moderate performance of substitutes compared to Nike’s sports
shoes, clothing and equipment. Moderate performance per price of substitutes
(moderate force).
The low switching costs (brand and performance need to be considered as well)
further add to that likelihood. Nonetheless, this element shows that substitutes
exert only a moderate force against Nike Inc. Low switching costs (strong force).
 1.24. Conduct an in-depth SWOT analysis for Nike. (12)

SWOT analysis of Nike

Strengths Weaknesses

It is a global brand and has a loyal consumer Its sales are highly dependent on the footwear
following. segment.
It has strong distribution channels. Managing its reputation as a socially responsible
It has strong position over its minimal long-term brand continues to be a challenge.
debt. Often has a higher price point compared to its
Has innovative shoe design which enables competitors, e.g. Adidas.
consumers to design their shoes online.
It has a diversified range of products globally.
Has strong marketing campaigns and endorses
different products.
Dominant in various segments, such as baseball,
golf and footwear, etc.

Opportunities Threats
Focus on developing ‘high technology’ products in
the sport’s wear, sunglasses and wearable
technology segment.
Seek out influencers who provide synergy to the
brand’s image and reputation.
Aggressively engage in more socially responsible
marketing.
It can grow the female segment of the athletic
market.
It can increase demand and focus more on the
‘fashion segment’ in the market.
Economic recessions and fluctuations in currencies
can lead to Nike losses.
Higher levels of competition as competitors are
becoming more aggressive and creating higher
quality products.
Consumers increased sensitivity to premium prices.
Compliance with global regulations in terms of
being socially responsible.
 1.25. Study Unit 2 – Progress check

You have come to the end of Study Unit 2.

Time to do a progress check to determine whether you have gone through all the
required content and completed all the exercises.
 1.26. Interactive Revision Activity

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 2. Questions and Answers

Click below for revision exercises and solutions.

 3. Progress Checklist

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