Assignment:
This assignment allows you to demonstrate the following outcomes:
1. Examine the different environments in which businesses operate, to include social, technological, economic, legal, and market environments.
2. Describe how different environments impact a business.
3. List the characteristics of different environments as they relate to a business.
Instructions: The purpose of this assignment is to examine the different environments in which businesses operate. Read each set of instructions before completing the three exercises.
Exercise 1: The table below contains cells where you can insert the elements for each type of environment: (a) the characteristics of the environment as it relates to the business and (b) a description about how the environment impacts the business. For Exercise 1, your answers should focus on the following type of business: a retail business with clothing and other apparel.
In your own words, complete the table below by inserting the appropriate elements
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Environment
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List the characteristics of the environment as it relates to the business (at least three each)
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Briefly describe how the environment impacts the business (at least four sentences each)
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Social
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Technological
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Economic
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Legal
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Market
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Exercise 2: This exercise is similar to Exercise 1, however, your answers will now focus on a different type of business: an electronics manufacturing business.
In your own words, complete the table below by inserting the appropriate elements.
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Environment
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List the characteristics of the environment as it relates to the business (at least three each)
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Briefly describe how the environment impacts the business (at least four sentences each)
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Social
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Technological
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Economic
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Legal
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Market
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Exercise 3: The purpose of this exercise is for you to reflect upon your observations after completing the first two exercises. What did you notice about the different environments and how they impact a particular type of business? After completing this assignment, what could you, as a business manager or entrepreneur, take away and apply to a job? Your response must be at least 200 words in length.