• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Business Competition.

Extracts from this document...

Introduction

External Influences. There have often been over the year's external influences, which have affected the business. Some random some not, for example the collapse of the twin towers, due to a terrorist attack in America on 11th September 2001 had a huge affect on the travel industry. This external influences would of certainly affected EasyJet, even though EasyJet didn't fly as far as America the tourists and businessmen would have been sceptical of flying. Transatlantic flights slumped; the knock on affect was that travel agents lost money, companies that made planes lost out, and the tourist industry suffered. Thankfully external influences are not generally so random the following are external influences, which are a little more predictable. Business Competition Rival companies may bring out a cheaper or better product or service. In a competitive market where many businesses offer the same or similar product, businesses must battle for a share of the market this is often achieved by offering a slightly different products or services. ...read more.

Middle

money. If interest teas are high or jobs are scarce people are less inclined to buy therefore stock remains on the shelves, businesses have less money so they produce fewer goods. People and businesses affect the economy of a country the three main changed are: * Interest rates * Prices * Exchange rates Interest rates Interest is the cost of borrowing money. Most businesses will have to borrow money at some stage either to expand, buy new equipment or machinery or to develop new products. If interest rates raise then the cost of borrowing will be greater, if interest rates go down the cost of borrowing will be cheaper. Should the interest rates rise dramatically than businesses could find that they are paying out more than they are making by selling the product or service they originally borrowed the money for, Interest rates also affect the businesses and customers, which buy. This could lead to a downfall in sales. Consumers may be less likely to want to borrow money to purchase goods if rate are too high. Prices. ...read more.

Conclusion

Many years ago business and individuals did not think much about how they operated, noise levels, pollution levels or how they disposed of their waste. Since then attitudes have changed thanks to pressure groups and scientists businesses and the general public are more aware of environmental issues Governments are starting to realise that if we don't change the way we live, work and use natural resources we may permanently damage our planet. Laws now control some business practices to prevent further damage being caused. Laws, which govern such things as: * Air pollution, the prevention of dangerous or harmful gasses being released into the air * Noise pollution, the level of noise emitted by machinery, etc which can be harmful. Noise is measured in decibels. Health organisations recommend a maximum of 55 decibels during the day. * Water pollution, water pollution occurs when hazardous or dangerous chemicals are discharged into rivers, streams, lakes or seas. The main source of water pollution is industry and farming Business Portfolio October 03 Part D. external influences Mr. Laidlaw Jemma Murphy ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. external influences

    into the cash flow forecasts for the future so they will be prepared in advance. Changing prices also would have an affect on the business. If supplier's costs increase then they'd have to try and find better deals or a cheaper supplier but then the product quality might change.

  2. Competition Theory A. Outline the role of competition in ...

    Perfect competition is an example of the laissez-faire theories of Adam Smith in that it allows consumer sovereignty and the market to set the price rather than the companies and firms that sell the products. Perfect competition in reality is only a model and is unachievable in the real world

  1. Case Study: The Home Depot

    These stores are planned to be situated in the cities and small communities and have a store space of about 25,000 square feet to 41,000 square feet. The normal average store is about 128,000 square feet.

  2. Scarcity and Unlimited Wants.

    See Table 6.1 Table 6.1 Structure of UK industry by region Region Type of industry North Traditional heavy industry concentrated around Tyneside and Teeside Yorks and Humber Iron and steel; textiles and clothing; coal; fishing East Midlands Diverse industry but specialises in hosiery, footwear and clothing East Anglia Agriculture and

  1. Changes in the business environment and their impacts on business strategies.

    Many firms export and may have joint ventures or subsidiary companies abroad. In many countries, particularly those in the so-called 'Third World' or more latterly termed 'Developing Nations', the domestic political and economic situation is usually less stable than in the UK.

  2. Global Business Plan.

    All of our air conditioners come with a remote control. Instructions come with the equipment and they are printed in English, Chinese, German, French, and Spanish. Our air conditioners are very convenient because they can be placed on the floor or mounted to the wall.

  1. Liberalization: where it has lead us and where it is headed

    enormous additional expense-hundreds of millions of dollars-by the government of Maharashtra, essentially for political reasons. This is frustrating to me personally, but it is the least of the ways in which the government interferes in the Indian economy to its detriment. India's government is a powerful drag on India's economy.

  2. REGULATION OF BUSINESS

    The Electricity Act of 1989 was one of the most important as it divided the industry into four areas : generation, transmission, distribution and supply, where generation and supply tended to be the more likely opened to competition and transmission and distribution natural monopolies.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work