BU111 Lecture 23: BU 111 - Lecture 23 - Political Factors
19
BU111 Full Course Notes
Verified Note
19 documents
Document Summary
Business implication: affects uncertainty, risk, and constraints/costs faced by firm. The p of pest is something that businesses can actually influence (lobbyists, voting) Customer - buys products & services (need to buy paper, pens, photocopiers, computers because they have functional needs like any organization. Also have unique purchases like army boots to accommodate our soldiers) Competitor - canada post, cbc (lots covered by government, but some things still aren"t. Public vs private nursing homes, public schools vs. Still offer services, even at a loss. Regulates business activity; influences technology standards - crtc. Promotes competition - competition act, small business support (help more entrants come into the industry) Promotes innovation - intellectual property rights (sometimes through actual funding, and protect innovations through property rights and patents. If i know i"m going to invent something and somebody can easily copy me, it is not worth an expensive investment. Protects consumers - i. e. hazardous products act (sometimes as consumers, we make bad choices.
