Transcript Lesson 6 - Moodle 2 Help

Assignment 1 – Leaflet (part 1)
• In your leaflet, you need to explain what the
following trends (changes) mean and how they
can/have affected a business:
- Social trends
- Technology trends
- Ethical trends
- Environmental trends
* Always use your source list to show where you found
your information.
Assignment 1 – Leaflet (part 2)
• In your leaflet, you will then have to show how
any TWO of those trends will affect your startup
business, as they have done with other
businesses.
• To do this you will need to identify the
similarities between the influence of the trends
as well as the differences. You can use the
following tables…….
Assignment 1 – Leaflet (part 2)
TREND 1
DIFFERENCES
SIMILARITIES
Business 1
Business 2
Assignment 1 – Leaflet (part 2)
TREND 2
DIFFERENCES
SIMILARITIES
Business 1
Business 2
Assignment 1 – Leaflet (part 3)
• Finally, you need to summarize your leaflet
by rounding up the current risks,
opportunities, trends & environment
(factors) that will affect your business.
So......
Social Trends
• Social trends include the cultural aspects and include health
consciousness, population growth rate, age distribution, career
attitudes, etc. Social trends affect the demand for a company's
products and how a company operates.
For example, an aging population may imply a smaller and less-willing
workforce (thus increasing the cost of labor and products). The best
watch makers (Rolex, Breitling, Omega) in the world are in their 70’s.
Technological Trends
• Technological trends is mainly concerned with how technology has
evolved and it’s effect on our lifestyle and daily routines. Many
technological revolutions have now impacted on the way we do business.
For example, Facebook/Twitter for sharing & Advertising, Voice over
internet calls, Mobile Payment and transactions, Cloud computing, etc.
Ethical Trends
• Ethical trends is mainly concerned with the treatment of workers and
the environment in less developed countries who may be the suppliers.
Ethical behaviour can benefit firms by attracting more customers, high
quality employees and additional investors (organic food companies).
However, behaving ethically can have its drawbacks.
For example, additional costs may be incurred. An ethical audit is a
routine check of the ethical behaviour of the organisation, but
necessary, especially for Primark after Panorama on BBC.
Environmental Trends
• Environmental trends include aspects such as weather and climate
change, which may especially affect industries such as tourism, farming,
and insurance. Growing awareness of the potential impacts of climate
change is affecting how businesses operate and the products they offer.
For example, Supermarket carrier bags, Greener car manufacturers.
Most companies now have some sort of recycling initative incorporated
in the business.