Includes all the factors that are not business specific but they affect all business irrespective of their nature of operations however, their impact unusually depends on the nature of policy making activities and the personality of the different stakeholders.
The general environmental factors include the following
- Demographic changes
- Physical changes
- International factors
- Economical factors
There are a few challenges especially when managers are formulating policies
1. Global dynamics where nobody takes responsibility and nobody
2. Cost associates with scanning activities
3. Diversity and the nature of the stakeholders, variables considered
4. Problems associated with its impact on the business
5. Difficulties in developing equilibrium between business policies and general environment dynamics.
Titany answered the question on November 29, 2021 at 13:02
-
Classification of Business Environments
(Solved)
Classification of Business Environments
Date posted: November 29, 2021. Answers (1)
- Challenges encountered when scanning environment(Solved)
Challenges encountered when scanning environment
Date posted: November 29, 2021. Answers (1)
- Importance of environmental dynamics (Solved)
Importance of environmental dynamics
Date posted: November 29, 2021. Answers (1)
- Causes of Environmental Dynamics(Solved)
Causes of Environmental Dynamics
Date posted: November 29, 2021. Answers (1)
- Define environmental dynamics(Solved)
Define environmental dynamics
Date posted: November 29, 2021. Answers (1)
- What does environmental scanning involve?(Solved)
What does environmental scanning involve?
Date posted: November 29, 2021. Answers (1)
- Trends / Issues Relating to Business Policies(Solved)
Trends / issues Relating to Business Policies
Date posted: November 29, 2021. Answers (1)
-
Why study business Policy?
(Solved)
Why study business Policy?
Date posted: November 29, 2021. Answers (1)
- Elements of business policy framework(Solved)
Elements of business policy framework
Date posted: November 29, 2021. Answers (1)
- Define a business policy framework
(Solved)
Define a business policy framework
Date posted: November 29, 2021. Answers (1)
- Define the term environment scanning while developing business policies(Solved)
Define the term environment scanning while developing business policies
Date posted: November 29, 2021. Answers (1)
- Highlight the Stages of Business Policy Development Process(Solved)
Highlight the Stages of Business Policy Development Process
Date posted: November 29, 2021. Answers (1)
- Discuss business policy as an area of study(Solved)
Discuss business policy as an area of study
Date posted: November 29, 2021. Answers (1)
- What are business policies?(Solved)
What are business policies?
Date posted: November 29, 2021. Answers (1)