BU111 Lecture Notes - Lecture 4: Corporate Social Responsibility, Information Technology, Outsourcing
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Significance: affect economic stability, employment, economic growth (measures: aggregate output, gdp, gnp) Attitudes (eg. canada"s attitude towards smoking - negative) Significance: affect customer preferences and worker attitudes and behaviour, standards of business conduct, and corporate social responsibility. Significance: demands constant scanning and learning; legacies/compatibility make change challenging. Lo-6, p. 23-24 in text: outsourcing, social media and viral marketing, business process management. Make notes and identify challenges/opportunities and their implications. Substitutes do the same job as a product just not as well at a cheaper price. Potential entrance refers to companies that are not in the industry yet but are soon to enter it eg. tesla) Suppliers have an impact on the price. Suppliers are any organization that have a key input on what you produce. Every single industries porter"s 5 forces looks different. Potential entrants, buyers and competitors affect volume. Lots of substitutes will affect marketing cots.
