COM 100 Lecture Notes - Lecture 4: Consumer Protection, Subculture, Collectivism

• School: University of Victoria
• Department: Commerce
• Course: COM 100
• Professor: Saeed Rahman

Document Summary

Business environment for(cid:272)es outside the (cid:271)usi(cid:374)ess that (cid:272)a(cid:374) affe(cid:272)t the fir(cid:373)"s i(cid:374)dustry. Macro (pest) environment the external environment that cannot be controlled by a business. Tax policies, and trade and tariff controls. Consumer protection laws, employment laws, health and safety laws, and regulations. Competitive (micro) environment groups and organizations that have a direct relationship with business. Notes: consumer demand is a part of micro environment. Consumer protection laws, employment laws, health and safety laws and regulations. A process through which the world is becoming increasingly interconnected as a result of massively increased trade, information and cultural exchange. Economic environment - the economic environment consists of factors (interest rates, inflation rates, and taxes) that affect consumer purchasing power and spending patterns. Industrial economies are richer/developed markets (large base of productive capital, sophisticated banking systems and financial markets). Subsistence economies (mostly agriculture-based economies) consume most of their own agriculture and industrial output.