1. Identify the various environments in which businesses operate. What is one of the fastest changing environments? How did the corresponding changes impact each of the other business environments?
The various environments in which businesses operate are technological, economic and legal, competitive, social and global. The economic business environment is one of the fastest changing and the changes within it have an effect on all the other business environments. The economic system and the government can have a strong impact on business or the level of risk involved. Policies and tax changes can have a strong and quick impact on business operations. The government owns most businesses in some countries so their decisions or input control nearly everything in the other business environments. A change in economic policy can impact the progression or production of technology, trends in competition and tendencies among certain demographics.
2. Study Figure 1.4 on page 22. Identify the services that you feel are most likely to disappear in the future. What were the main changes that are leading to this outcome? Please be detailed in your answer.
Any service that is gradually leaning towards online or e-operation will experience a decline in coming years. The convenience of online commerce or service makes it a popular choice among consumers. Retail has been strongly influenced by the online trend and certain products are learning towards the internet as their primary source of sales. Music is a perfect example because a vast majority of music sales are now conducted online. Music retail will most likely disappear entirely in the future due to the convenience of web sales. Laundries, linen services and diaper services are becoming less common as consumer trends lean towards the ability to do these things for ourselves. I think the commercial industry will represent the majority of activity within these services as the consumer trend leans towards...