1 (a) Explain the relevance of ecological issues to business environment.
Businesses found that care for environment can be good for their bottom lines.
• Caring for the environment enhanced their reputation and brand image
• More sales and greater customer loyalty
• Easier access to capital as even lending banks began to consider environmental issues
• Attracting talented employees who can choose their employers.
Naturally, the impact on the bottom line was too great to persist with the old ways. Evaluating environment problems and their management became important components of business strategy development. The move for Corporate Social Responsibility (CSR) includes looking at the environment effects of business actions and taking steps to eliminate or minimize adverse impacts.
• GDP per capita
• economic growth
• unemployment rate
• inflation rate
• consumer and investor confidence
• inventory levels
• currency exchange rates
• merchandise trade balance
• financial and political health of trading partners
• balance of payments
• future trends
• political climate - amount of government activity
• political stability and risk
• government debt
• budget deficit or surplus
• minimum wage laws
• environmental protection laws
• worker safety laws
• union laws
• copyright and patent laws
• anti- monopoly laws
• Sunday closing laws
• municipal licenses
• laws that favour business investment
• efficiency of infrastructure, including: roads, ports, airports, rolling stock,hospitals, education, healthcare, communication, etc.
• industrial productivity
• new manufacturing processes
• new products and services of competitors
• new products and services of supply chain partners
• any new technology that could impact the company
• cost and accessibility of electrical power
• ecological concerns that affect the firms production processes
• ecological concerns that affect...