Unit 1 business and the business environment l/508/0485 table of contents


LO4: DETERMINE THE INTERNAL STRENGTHS AND WEAKNESSES OF SPECIFIC BUSINESSES AND EXPLAIN THEIR INTERRELATIONSHIP WITH EXTERNAL MACRO FACTORS



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UNIT 1 BUSINESS AND THE BUSINESS ENVIRONMENT
LO4: DETERMINE THE INTERNAL STRENGTHS AND WEAKNESSES OF SPECIFIC BUSINESSES AND EXPLAIN THEIR INTERRELATIONSHIP WITH EXTERNAL MACRO FACTORS
The manufacturing industry which …company name… belong to can be influenced by external or macro factors just like every other industry. …company name… have been able to leverage on its strength to ensure that the impact of macro factors on it are always positive while it has been able to consistently improve on its weakness to limit the impact of macro factors on it. SWOT which is the abbreviation for Strength, Weaknesses, Opportunities, and Threats.
The strength of ..company name…include that it has the capacity to produce quality products at the desired quantity of customers or distributors within the agreed time and it has been able to leverage on it strong technological investment in its physical resources to achieve this over the years. Also, the structure of the organisation is one which has been effective in implementing the processes, policies and procedures of the organisation. The weakness as noticed in the organisation is its positioning it the industry and this has been of a not too good effect on its brand. The organisation have been able to make use of rebranding and expansion to other branches and areas of the country to improve on its position and it is seen as a work in progress.
The organisation I am very much aware is one which like to make use of opportunities especially when and if it will contribute to its growth. It has therefore been able to recruit from different climes while also ensuring that the knowledge of people from these different areas about the business opportunities present in their states are used in improving the organisation and this have on several occasion led to expansion. There are threat which are capable of crippling the activities of a business if not well managed or addressed; for instance, inflation is one factor which can bring about the reduction or strength in the spending power of customers and once this happens; it can lead to drop in sales and therefore production for businesses. A business therefore need to be dynamic in handling perceived threats to its activities and sustainability. …company name.. is not an exception on this and it has been able to address threats like this by being proactive, always preparing its employees for change if there is need for it and also by sustaining competition through its productive policies for managing such situations.



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