The business environment

Cover......Page 1
The Business Environment......Page 2
Brief contents......Page 8
Contents......Page 10
Contributors......Page 19
Preface to the first edition......Page 20
Preface to the second edition......Page 21
Preface to the fourth edition......Page 22
Preface to the fifth edition......Page 23
Guided tour of the book......Page 25
Part One Introduction......Page 28
Learning outcomes and Key terms......Page 30
The business organisation and its environment......Page 31
Mini Case: A healthy business?......Page 34
The immediate or operational environment......Page 36
Mini case: Levi Strauss: jean therapy?......Page 37
Central themes......Page 40
Summary of key points......Page 41
Case Study: A Shock To The System......Page 42
Assignments......Page 43
Further reading......Page 44
Learning outcomes Key terms......Page 45
Approaches to organisation and management......Page 46
Mini Case: Change at Deutsche Bank?......Page 50
Mini Case: Royal Dutch Shell......Page 55
The virtual organisation......Page 56
Aspects of functional management......Page 57
Summary of key points......Page 62
Case study: Structuring Global Companies......Page 63
Review and discussion questions......Page 64
Further reading......Page 65
Part Two Contexts......Page 66
Learning outcomes and Key terms......Page 68
Introduction......Page 69
Political systems......Page 71
Government in democratic states......Page 73
Mini case: Action on the environment......Page 77
The three branches or functions of government......Page 79
Mini case: Supranational lobbying......Page 81
Checks and balances in democracies......Page 84
A model of the policy process......Page 85
Appendix 3.1: A democratic political system in action: UK national government......Page 87
Appendix 3.2: Subnational government: UK local authorities......Page 95
Appendix 3.3: Supranational government: the European Union......Page 98
Case study: Left out in the cold......Page 104
Assignments......Page 105
Further reading......Page 106
Learning outcomes and Key terms......Page 107
Introduction......Page 108
Economic systems......Page 109
Eastern Europe: economies in transition......Page 113
Politico-economic synthesis......Page 115
The macroeconomy......Page 117
Mini case: Global economic crisis......Page 123
Government and the macroeconomy: objectives......Page 124
Mini case: Indicators of success......Page 130
Government and the macroeconomy: policies......Page 131
The role of financial institutions......Page 136
International economic institutions and organisations......Page 138
Synopsis......Page 141
Summary of key points......Page 142
Case study: Toyota UK......Page 143
Notes and references......Page 145
Further reading......Page 146
Learning outcomes and Key terms......Page 147
The demographic environment of business......Page 148
The social context......Page 153
Mini case: Fit for purpose?......Page 158
The cultural environment......Page 160
Mini case: National cultures......Page 161
Application: market segmentation......Page 163
Case study: The effects of an ageing population......Page 165
Review and discussion questions......Page 170
Further reading......Page 171
Learning outcomes and Key terms......Page 172
People......Page 173
Mini case: The minimum wage......Page 178
Technology......Page 183
Mini case: Call centres......Page 185
Natural resources......Page 191
Summary of key points......Page 194
Case study: Resource prices......Page 195
Assignments......Page 196
Further reading......Page 197
Learning outcomes and Key terms......Page 198
Classification of law......Page 199
Mini case: Banking on advice......Page 200
Sources of law......Page 201
The legal system: the courts......Page 203
Mini case: Jean-Marc Bosman – a case of foul play?......Page 205
Business organisations and the law......Page 206
Contract law: the essentials......Page 207
Agency......Page 210
Law and the consumer......Page 211
Synopsis......Page 217
Case study: The sale of goods on the Internet......Page 218
Assignments......Page 221
Further reading......Page 222
Part Three Firms......Page 224
Learning outcomes Key and terms......Page 226
Introduction......Page 227
Public sector business organisations in the UK......Page 233
Business organisations in mainland Europe......Page 239
The public sector in mainland Europe......Page 243
Legal structure: some implications......Page 244
Franchising, licensing and joint ventures......Page 249
Summary of key points......Page 252
Case Study The entrepreneurial spirit......Page 253
Notes and references......Page 256
Further reading......Page 257
Size structure of firms......Page 258
The size structure of UK industry......Page 259
Organisational growth......Page 261
Mini case: Mergers in commercial radio......Page 262
Methods of growth......Page 263
Finance for growth......Page 266
Small firms......Page 272
Mini Case: The Small-Firm Sector......Page 278
Multinationals......Page 281
Summary of key points......Page 282
Case Study: Executive Search......Page 283
Further reading......Page 287
Learning outcomes and Key terms......Page 289
The structure of industry......Page 290
Mini Case: The Life Cycle Model......Page 301
Deindustrialisation......Page 305
Mini Case: Productivity......Page 306
Synopsis......Page 309
Case Study: Spending On Leisure Services......Page 310
Review and discussion questions......Page 313
Further reading......Page 314
Appendix 10.1 The Standard Industrial Classification (SIC), 2003......Page 315
Learning outcomes and Key terms......Page 316
Government and business: an overview......Page 317
Regional policy......Page 318
Regional aid within the European Union......Page 321
Mini Case Attracting Foreign Inward Investment......Page 323
UK urban policy......Page 324
Selected urban policy instruments......Page 326
More recent developments in urban policy......Page 328
Local government and business in the UK......Page 329
Mini case: oiling the wheels?......Page 334
Synopsis......Page 336
Case study: government and business – friend or foe?......Page 337
Review and discussion questions......Page 338
Further reading......Page 339
Part Four Markets......Page 340
Learning outcomes and Key terms......Page 342
Demand......Page 343
Supply......Page 346
Price determination......Page 349
Mini Case: Branston Pickle......Page 351
Price controls......Page 353
Mini case: Pollution......Page 355
Elasticity of demand......Page 356
Elasticity of supply......Page 360
The importance of the market to business......Page 361
Case study: The Common Agricultural Policy Of The European Union......Page 362
Assignments......Page 365
Further reading......Page 366
Learning outcomes and Key terms......Page 368
Introduction......Page 369
Market structures – in theory and practice......Page 370
Mini case: Price wars in the market for milk......Page 375
Porter’s five-forces model......Page 378
Measuring the degree of actual competition in the market......Page 383
Mini case: Concentration......Page 385
Summary of key points......Page 387
Case study: A Porter’s Five-Force Analysis Of The Market For Mobile Phones......Page 388
Review and discussion questions......Page 391
Notes and references......Page 392
Further reading......Page 393
Learning outcomes and Key terms......Page 394
International trade – why it takes place......Page 395
Restrictions to international trade......Page 396
Mini case: The World Trade talks......Page 397
The European Union (EU)......Page 398
The balance of payments......Page 400
The history of the balance of payments in the United Kingdom......Page 404
Mini case: The current account of the balance of payments......Page 406
Exchange rates......Page 409
The single European currency......Page 416
Exchange rates and business......Page 417
Globalisation......Page 418
Summary of key points......Page 424
Case Study: Multinationals And Fdi......Page 425
Review and discussion questions......Page 427
Further reading......Page 428
Learning outcomes and Key terms......Page 429
Privatisation policy......Page 430
Mini case: Privatising electricity in Poland and Portugal......Page 436
Competition policy......Page 439
Mini case: The ice cream war hots up......Page 442
Government and the labour market......Page 447
Synopsis......Page 451
Case Study: The End Of The Block Exemption......Page 452
Notes and references......Page 454
Further reading......Page 455
Part Five Issues......Page 456
Learning outcomes and Key terms......Page 458
Introduction......Page 459
Business applications 1: business-to-business (B2B) commerce......Page 461
Case Study: Dell Computers......Page 464
Business applications 2: business-to-consumer (B2C) commerce......Page 466
Summary of key points......Page 469
Case Study: Amazon.Com......Page 470
Assignments......Page 472
Further reading......Page 473
Learning outcomes and Key terms......Page 474
Introduction......Page 475
Stakeholder theory......Page 477
Environmental management: an issue of corporate responsibility......Page 478
Business response to environmental concerns......Page 479
The interaction of business and society......Page 481
Methods of encouraging environmental concern within business......Page 482
Mini case: Body Shop values report......Page 487
The benefits to business from the implementation of environmental policies......Page 488
Corporate responsibility without intervention?......Page 490
Summary of key points......Page 491
Case Study: The Braer Oil Tanker Disaster......Page 492
Notes and references......Page 496
Further reading......Page 497
Learning outcomes and Key terms......Page 498
Introduction......Page 499
The need to monitor change......Page 500
Analysing the business environment: broad approaches......Page 501
Mini case: Multinational inward investment: a PESTLE analysis......Page 502
Techniques......Page 504
Mini case: Scenario forecasting at Shell......Page 505
Sources of information......Page 509
Synopsis......Page 517
Case Study Scanning The Environment: East Midlands Electricity Plc......Page 518
Further reading......Page 521
Glossary......Page 523
Index......Page 540