MGM101H5 Lecture Notes - Lecture 6: Foreign Direct Investment, Energy Market, Pest Analysis
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MGM101H5 Full Course Notes
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Business prosperity and future opportunities are contingent on economic conditions at home and abroad. Managers must understand how economic changes impact their businesses and establish the context for decision making. Canada possesses one of the most fully developed economic systems in the world. Trends that can or will impact the markets within which an organization competes. Pestel: political, economic, social, technology, environmental, legal. Managers must constantly look to see where and how their markets are changing in light of competitive influences. Core requirement to the stability and growth of an economic system lies in its ability to service and promote both the current and future economic activity taking place. Comparative advantage: the ability of a country to produce or supply goods or services at a lower cost than other countries or to possess resources or unique services that are unavailable elsewhere. Focus on parts with comparative advantage and buy from places with specific advantage: ex.
