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External Influences

External Influences. Technology and Changing Social Attitudes. External Influences. New Technology: New business opportunities Creation of substitutes Opening up of new markets Technical progress in foreign countries Productivity Ways of working Communication

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External Influences

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  1. External Influences Technology and Changing Social Attitudes

  2. External Influences • New Technology: • New business opportunities • Creation of substitutes • Opening up of new markets • Technical progress in foreign countries • Productivity • Ways of working • Communication • Cost of investment versus return

  3. External Influences • New business opportunities: • Within the same industry? (Core business) • Totally new markets/opportunities • Amount of investment needed • Market research – do consumers need the product?

  4. External Influences • e.g. Canon – core business, optical technologies: • cameras, photocopiers, scanners, projectors, calculators, binoculars, digital cameras, printers, projectors • New markets – Discmans? DVD players? Flat Screen TVs? Plasma TVs? • Risk versus gain

  5. External Influences • Threats: • Cheaper alternatives from abroad – CFC technology, bio-technology, computer and micro-processor technology (especially China?) • Rivals producing substitutes – PS2, X-Box and Game Cube • How to react?

  6. External Influences • Working practices: • Technology and productivity – impact on workers, morale, motivation? • Implications for ‘old’ plants (e.g. Longbridge versus Sunderland? • Flexible working – working from home, hot desking, mobile computing (wireless networks) video-conferencing

  7. External Influences • Communication: • Faster? • More efficient? – if so why have some firms banned the use of e-mail at work for any purpose? • Impact on motivation, morale and worker attitudes • To what extent does the message get through?

  8. External Influences • Changing Social Attitudes: • Social ‘class’ – changing socio–economic groupings • Links with behaviour and demand (e.g. growing number of pensioners; those who smoke or drink certain types of alcohol) • Changing tastes – concern for ‘green’ production, attitudes to fur, wine versus beer, vegetarians (long term or short term?) • Changing lifestyles – convenience andfast foods, use of freezers, use of cars, amount of leisure time and how it is used, etc.

  9. External Influences • Changing income structures • Distribution of income • Regional distribution of income • Impact of government taxation on disposable incomes • Relative income elasticity of demand for different goods and services

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