Class Notes (838,957)
Canada (511,162)
Management (767)
MGM101H5 (341)
Lecture 5

Lecture 5.docx

3 Pages
108 Views
Unlock Document

Department
Management
Course
MGM101H5
Professor
Nate Charlow
Semester
Fall

Description
MGM Lecture 5 – Oct 11, 2013 The Business Environment • Major issue in managing a business is that our environment is changing every instant; we have to manage and maintain our place in a constantly changing and competitive market • Business and financial variables affect our success, it’s all about managing changes that may be positive or negative for us • Constant monitoring of our environment is needed to get advantage of these changes About the article: • Whathgoes on in US has a drastic effect on Canada • 1/5 of all money in the US economy is from debt • Republicans say unless there is an increase in health care and facilities, we won’t approve of the budget; so no approved budget • Many institutions not working anymore due to no approved budget or no approved legislative changes • US government is held hostage illegally • 16.7 trillion dollars in debt for US; won’t get any more money from borrowing • Detroit has gone bankrupt; because they can’t pay off interest • An uncertainty prevails; which investors hate; no one can make any decisions right now • When economies collapse, investors go towards necessities as they know that the market for those won’t go down Lecture: • Canadian economy is comparatively more strong than any other economy; we are in a healthy position after the recession • Macro Analysis o We need to scan what happens in our environment, the trends that affect our business i.e. PESTEL (in the textbook)  Political (take US example above)  Economical (inflation, consumer behavior etc.)  Social (how social factors affect business)  Technology (challenges/advantages of available technology)  Environmental (being sustainable and aware of the environment)  Legal (what we do and what we ought to do/management of risk) Types Of Competitive Markets
More Less

Related notes for MGM101H5

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit