Transcript Task 1 PEST Factors - Economic - School

People in Business
PEST - Economic Factors
Economic Factors – Video Starter
Watch the following video clip:
http://www.tutor2u.net/blog/index.php/busines
s-studies/comments/a-beginners-guide-togdp#extended
Now answer the following questions:What do the letters GDP stand for?
What is GDP?
How is GDP measured?
Lesson Objectives
• To identify and analyse economic
factors that affect Marks and
Spencer.
• To apply and analyse the effects of
economic factors that affect
workforce planning at Marks and
Spencer
What is a
trend?
How do you
measure a trend?
Describe the
trend in GDP
Wipeout
• On the board on the following slide are 12
features of the U.K. economy.
• 8 of them are when we are in a slump and 4 are
not.?
• How many can you correctly identify?
• Select 2 players, who will make a bid for the
number of correct answers they can identify.
• The highest bidder who gets their answers correct
is the winner
Wipeout
Decrease in
demand
Increasing
Decrease in
employment business
failures
Low/negative
levels of
economic
growth
Increasing
Fall in
unemployment profits
Decrease in
capital
spending
Increase in
disposable
income
Lower stock Increase
levels &
inflation
price
discounting
Loss of
consumer
confidence
Increase in
business
failures
Economic Factors – What happened next?
Study the following sentences and add what
happened next and then link it to the effect it
will have on the workforce at Marks and
Spencer. In both cases use connectives.
• Low growth in GDP affects sales
• Low growth affects consumer confidence
• Low growth affects unemployment
Task 1d
•
•
•
•
Produce a newspaper article for the Harrogate Advertiser, which
explains how external factors have affected the recruitment
decisions of the local store. You should include reference to
political; economic; social and technological factors.
Now add a paragraph which explains the impact of the
changes to GDP on the workforce plan. Explain what is
meant by GDP and briefly describe the recent
trend. Then explain the impact by:
Point – make your basic point
Explain – write in greater detail what it means
Effects – explain the effect of that point on Marks and
Spencer work force plan.
Inflation Video
Watch the following video clip
http://www.bbc.co.uk/news/business-15733539
Now answer the following questions:What is inflation?
How is it measured?
What is the difference
between RPI & CPI?
Describe the trend in inflation
Inflation – What Happened Next
Study the following sentences and add what
happened next and then link it to the effect it will
have on the workforce at Marks and Spencer. In
both cases use connectives.
•
•
Increasing inflation leads to money losing value
Increasing inflation means that wage demands
•
Increasing inflation impacts on income levels
•
Increasing inflation affects costs
Task 1d
•
•
•
•
•
Produce a newspaper article for the Harrogate Advertiser,
which explains how external factors have affected the
recruitment decisions of the local store. You should include
reference to political; economic; social and technological
factors.
Now add a paragraph which explains the impact of the
changes in inflation on the workforce plan. Explain what is
meant by inflation and briefly describe the recent
trend. Then explain the impact by:
Point – make your basic point
Explain – write in greater detail what it means
Effects – explain the effect of that point on Marks and
Spencer work force plan.