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Business BTEC Level 3 Unit 1 D2
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Business BTEC Level 3 Unit 1 D2
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BTEC Business unit 1 (Shahid Zaman)For this task I am going to evaluate how future changes in economic,
political, legal and social factors may impact on the strategy of a specified
organisation.
First, I will talk about how economic factors may impact on the strategy of
a building society. At the stage of an economic boom, a building society
would benefit from it because they can employ more people who are
motivated to work and supply and demand will be high which means
making more sales. This will boost profits for the building society and help
them expand further because they would have more money in which they
can invest in. This would give the building society a good reputation.
There would also be tight competition between the building society and its
rivals so the building society would try and avoid this by reducing their
prices on their services.
At the stage of a recession, building societies would receive fewer
customers as people will have a low disposable income and they would
prefer to save rather than invest their money this is because people would
not be confident in investing their money also the building society would
have to cut jobs and make some redundancies. The building society would
have to increase their prices because of the increase in inflation and also
because of supply and demand being very low to still make their profit.
At the stage of a trough, a nation is doing very badly in terms of the
economy. This is because people do not have that much money and the
income that they do have is saved, at this time the building society will
have to make employees redundant due to the low demand and the
existing employees will have to work longer hours and harder
At the stage of a recovery, Tesco would have more products on the
shelves than they did in the recession or the slump stage. Production
levels and employment levels would start to increase. Tesco would not
want to make any big decisions such as plans for expansion because they
are still recovering from the economic downturn.
Second, I will talk about how political factors may impact on the strategy
of Tesco. If the government was to increase the tax rate then business
plans such as expansion probably wouldn’t go through because they will
have to pay even more money which would affect its profits. Because of
this, investors could lose interest in Tesco and purchase shares in other
companies. Increased tax will also lead to increased prices on products,
this could stop customers from spending as much as they used to.
Because of this, Tesco will lose profits and cut jobs to save their money.
Third, I will talk about how legal factors may impact on the strategy of
Tesco. If employees are unhappy with what Tesco is doing or if they are
being mistreated at work then they would have legal rights to take action.
A way in which to ensure that employees treated correctly at work is the
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