Resources and resource markets
An organisation’s need for resources makes it dependent to a large degree on the suppliers of those resources, some of whom operate in markets which are structured to a considerable extent. Some aspects of the operation of resource markets or indeed the activities of an individual supplier can have a fundamental impact on an organisation’s success and upon the way in which it structures its internal procedures and processes.By the same token, the success of suppliers is often intimately connected with the decisions and/or fortunes of their customers.While some organisations may seek to gain an advantage in price, quality or delivery by purchasing resources from overseas, such a decision can engender a degree of uncertainty, particularly where exchange rates are free rather than fixed. Equally, organizations may face uncertainty and change in the domestic markets for resources as a result of factors as varied as technological change, government intervention or public opinion.
Customers are vital to all organisations and the ability both to identify and to meet consumer needs is seen as one of the keys to organisational survival and prosperity a point not overlooked by politicians, who are increasingly using business techniquesto attract the support of the electorate. This idea of consumer sovereignty where resources are allocated to produce output to satisfy customer demands is acentral tenet of the market economy and is part of an ideology whose influence has become all pervasive in recent years. Understanding the many factors affecting both individual and market demand, and the ways in which firms organize themselves to satisfy that demand is a vital component of a business environment that is increasingly market led.
Competition both direct and indirect is an important part of the context in which many firms operate and is a factor equally applicable to the input as well as the output side of business.The effects of competition, whether from domestic organizations or from overseas firms, is significant at the macro as well as the micro level and its influence can be seen in the changing structures of many advanced industrial economies. How firms respond to these competitive challenges and the attitudes of governments to anti-competitive practices is a legitimate area of concern for students of business.
Business Environment Related Tutorials
|Business Analyst Tutorial||Business Communications Tutorial|
|Fast Forward MBA in Business communication Tutorial||Business Management for Financial Advisers Tutorial|
Business Environment Related Interview Questions
|Business Analyst Interview Questions||Business Letter Format Interview Questions|
|Business Communications Interview Questions||Business Environment Interview Questions|
|Business Management for Financial Advisers Interview Questions||Business Development Interview Questions|
|Business Management Interview Questions||Executive Business Analyst Interview Questions|
|Business Objectives Interview Questions||Business Development Manager Interview Questions|
Business Environment Tutorial
Business Organisations: The External Environment
Business Organizations: The Internal Environment
The Political Environment
The Macroeconomic Environment
The Demographic Environment Of Business
The Resource Context
The Legal Environment
Size Structure Of Firms
Government And Business
The Market System
International Markets And Globalization
Governments And Markets
The Technological Environment: E-business
Corporate Responsibility And The Environment
All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd
Wisdomjobs.com is one of the best job search sites in India.