COMM101 Lecture 4: Lecture 4.docx

• School: University of Waterloo
• Department: Commerce
• Course: COMM101
• Professor: Sofy Carayannopoulos

Document Summary

Laws, regulations: taxes, trade agreements or conditions (toyota build cambridge factry because of tariffs, political system, political stability. Goals: protection of consumers, support for and protection of domestic businesses, opportunity creation in foreign markets. Government can create incentives, constraints, or support/bail out when needed. Affects uncertainty, risk, and constraints/costs faced by firm. Economic elements that affect business: balance of trade, exchange rates, productivity. Government uses regulations to control economic factors (p affects e) Elements: customs, values (influence what we do, how we vote) , sweden values social support, environment, etc. High taxes, social support, regulations: attitudes, demographic characteristics (aging population, baby boomers, millennial) Read canadian demographics in lab manual for projects. Influence: customer preferences, worker attitudes and behaviours, standards of business conduct, ethics, corporate social responsibility, affects how we live, work, consume, and produce. Unions used to focus on wages now focus on benefits, quality of work life.