Podcast
Questions and Answers
Which of the following factors are included under the Social category affecting consumer behavior?
Which of the following factors are included under the Social category affecting consumer behavior?
Technological trends only focus on R&D and do not include automation.
Technological trends only focus on R&D and do not include automation.
False
What impact do political factors have on the business environment?
What impact do political factors have on the business environment?
Political factors influence regulations, policies, and the overall operating environment for businesses.
GDP growth is an important factor in the ______ category of the business environment.
GDP growth is an important factor in the ______ category of the business environment.
Signup and view all the answers
Match the following environmental categories with their descriptions:
Match the following environmental categories with their descriptions:
Signup and view all the answers
Which of the following is NOT a key political institution that may influence business?
Which of the following is NOT a key political institution that may influence business?
Signup and view all the answers
Environmental protection laws fall under the Economic category of the business environment.
Environmental protection laws fall under the Economic category of the business environment.
Signup and view all the answers
Name one way businesses can influence the political environment.
Name one way businesses can influence the political environment.
Signup and view all the answers
What does the 'E' in STEEP analysis stand for?
What does the 'E' in STEEP analysis stand for?
Signup and view all the answers
Students are encouraged to use their phones during class for any reason.
Students are encouraged to use their phones during class for any reason.
Signup and view all the answers
What should students do if they arrive more than 5 minutes late to class?
What should students do if they arrive more than 5 minutes late to class?
Signup and view all the answers
STEEP analysis is used to assess the _____ environment in a country.
STEEP analysis is used to assess the _____ environment in a country.
Signup and view all the answers
Match the following aspects of STEEP analysis with their definitions:
Match the following aspects of STEEP analysis with their definitions:
Signup and view all the answers
Why is it important to understand economics for international trade?
Why is it important to understand economics for international trade?
Signup and view all the answers
Taking notes in groups is encouraged during the Economics lesson.
Taking notes in groups is encouraged during the Economics lesson.
Signup and view all the answers
What does it mean to know how to 'decode the real tea' behind economic headlines?
What does it mean to know how to 'decode the real tea' behind economic headlines?
Signup and view all the answers
Which function of government is responsible for making, amending, or replacing laws?
Which function of government is responsible for making, amending, or replacing laws?
Signup and view all the answers
The main goal of business is to ensure stability and growth.
The main goal of business is to ensure stability and growth.
Signup and view all the answers
What is a key characteristic of a democratic political system regarding lobbying?
What is a key characteristic of a democratic political system regarding lobbying?
Signup and view all the answers
The ___ function of government puts decisions into effect.
The ___ function of government puts decisions into effect.
Signup and view all the answers
Match the following terms with their definitions:
Match the following terms with their definitions:
Signup and view all the answers
Why do governments express concern over professional lobby organisations?
Why do governments express concern over professional lobby organisations?
Signup and view all the answers
Most lobbying is done overtly and openly in all countries.
Most lobbying is done overtly and openly in all countries.
Signup and view all the answers
What is the relationship between business and politics?
What is the relationship between business and politics?
Signup and view all the answers
What is a key feature of a democratic electoral system?
What is a key feature of a democratic electoral system?
Signup and view all the answers
Authoritarian political systems often involve regular and fair elections.
Authoritarian political systems often involve regular and fair elections.
Signup and view all the answers
Name one example of a country that operates under a democratic system.
Name one example of a country that operates under a democratic system.
Signup and view all the answers
In a democratic system, turnout in elections is based on __________ adult suffrage.
In a democratic system, turnout in elections is based on __________ adult suffrage.
Signup and view all the answers
Which of the following is NOT a feature of an electoral system?
Which of the following is NOT a feature of an electoral system?
Signup and view all the answers
Deregulation and privatization can contribute to political stability.
Deregulation and privatization can contribute to political stability.
Signup and view all the answers
What is the main purpose of a pressure group?
What is the main purpose of a pressure group?
Signup and view all the answers
Study Notes
International Business Awareness: Year 1 Block 2 - The Political Environment
- The course is about the political environment in International Business Awareness (IBA) Year 1 Block 2.
- The course utilizes a model called STEEP Analysis to assess the macro-economic environment in a country or region.
- STEEP analysis assesses five key factors influencing macro-economics, Social, Technological, Economic, Environmental and Political.
- Social factors include trends in society, demographics, lifestyles, education, cultural attitudes affecting consumer behavior.
- Technological factors include technological trends, improvements, automation, and research and development (R&D).
- Economic factors include GDP growth, GDP per capita, inflation, money printing, taxation, government spending and consumption.
- Environmental factors cover environmental protection laws and sustainability.
- Political factors include government policies, regulations, tax policies, and corruption.
Introductions
- Students are asked to work in groups of 3-4 to discuss their biggest concerns regarding the economy.
- One student is assigned to take notes and share the findings later.
Your Teacher
- Covers the teacher's qualifications and reasons for becoming a teacher.
- Includes the teacher's concerns regarding the economy.
Ground Rules
- The learning environment is serious, and not a high school.
- Punctuality is essential, students should arrive on time or during a designated break to avoid dismissal.
- Use of phones should be limited, only to lesson activities and a laptop is recommended
- Online chatting is not allowed.
- Students are free to leave if they do not want to participate.
Why Economics?
- Businesses operate in an interconnected world: requires understanding of economics for international exchange, rates, investment decisions, effects of fiscal and monetary policies.
- Requires understanding to make smart money moves and be successful in business.
- Includes understanding of production, consumption, inflation, price changes, and how these relate to headlines.
Weekly Overview
-
The course is structured by weeks with different political and economic topics (e.g., Political Environment, Economic Environment, Social Environment).
-
Listed are the specific chapters covered and the books used to support theoretical knowledge.
Model used in this block: STEEP Analysis
- This is a tool to assess the socio-political and economic factors.
- Each letter represents an important aspect of the environment.
Contents
- Course content includes assessment details, literature requirements, week 1 learning objectives, political environment and recap.
- An exam is case-based, combining multiple choice and open-ended questions related to operations and supply chain management (OPS & SCM) and International Business Awareness (IBA).
- The exam aims to asses elements needed for critical thinking and Business Economics (BEC) courses
Literature
- The course uses "The Business Environment: A Global Perspective (8th Edition)" by lan Worthington, Chris Britton, and Ed Thompson and other required interactive content.
- The text includes the relevant chapter numbers for both the customized textbook and the 8th edition of the main text, if necessary.
Week 1: Learning Objectives
- Explain the political context where businesses operate.
- Demonstrate the relevance of political values to business activities.
- Identify and discuss political institutions and processes across varying spatial events.
- Illustrate how business influences and is influenced by the political environment..
What is Politics?
- Defining politics as a set of processes in determining how conflicts are resolved and handled.
- Politicians focus on the needs of stakeholders (e.g., companies, voters, NGOs).
How do political factors affect business environment?
- Covers political stability, tax impact, laws, corruption, trade controls, and deregulation/privatization.
Political systems
- Explains different electoral and party systems, the role of government, types of political systems: democratic and authoritarian and the roles of each part of a democratic system
The electoral system
- A system of regular elections, often every 4-5 years.
- Based on universal adult suffrage (all adults have the right to vote.)
- Includes some freedom of speech, movement, assembly.
A system for articulating sectional interests
- The ways politically active groups can be organised: pressure groups or lobbying organisations.
The three branches, arms or functions of government
- Provides three key functions for a government: legislative, executive and judicial.
Relationship between business and politics
- Business and politics needs are interwoven and mutually dependent.
- Business pursues profit; government seeks stability and growth.
The business of lobbying
- Businesses engage in lobbying.
- Different kinds of ways to reach out to representatives, like through organisations in specific fields or professional lobbyists.
The business of lobbying (Discussion questions)
- Discusses why governments may have concerns over professional lobbying organizations.
- Explores why some industries and businesses resort to lobbying organizations.
Corruption
- A form of unethical behavior involving tangible or intangible gifts, that impacts global business dealings.
- More pervasive in certain countries.
Recap
- Politics significantly influences the business environment.
- Businesses and governments interact to achieve individual goals.
- Politicians and business can take advantage and exploit, and this negatively impacts consumers.
- Corruption presents a significant challenge to international trade.
Article
- Students should read an article about a specific political figure's guilty conviction of bribery.
- Specific questions about the article and political figures are provided
Survey quality of education
- Details the survey about course quality and deadlines.
- Includes a reminder that students need to know their class and language group number to evaluate their specific courses.
Quiz week 1
- Students are informed about the 1st week quiz and are instructed on where to see the questions.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Explore the political environment of International Business Awareness in Year 1 Block 2. This quiz utilizes STEEP Analysis to evaluate the macro-economic factors affecting international business, including social, technological, economic, environmental, and political aspects. Test your understanding of how these factors influence business strategies globally.
