Verfügbarkeit: The business environment

The business environment: themes and issues in a globalizing world

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Bibliographische Detailangaben
Hauptverfasser:	Wetherly, Paul (VerfasserIn), Otter, Dorron (VerfasserIn)
Format:	Buch
Sprache:	English
Veröffentlicht:	Oxford Oxford Univ. Press 2014
Ausgabe:	3. ed.
Schlagworte:	Umwelt Unternehmen Einführung
Online-Zugang:	Inhaltsverzeichnis
Beschreibung:	XXVII, 477 S. Ill., graph. Darst.
ISBN:	9780199661381 0199661383

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adam_text	Titel: The business environment Autor: Wetherly, Paul Jahr: 2014 List of cases.................................................................xvi About the authors.......................................................xix About the book..........................................................xxii How to use this book................................................xxiv How to use the Online Resource Centre..................xxvi Acknowledgements.................................................xxviii 1 Introduction: Business and its environment in a globalizing world ..........................................................1 Paul Wetherly and Dorron Otter The approach of this book-themes and issues.......................3 What is business?.....................................................................................6 A globalizing world.................................................................................6 What is business? Broad and narrow definitions....................7 Dealing with the problem of scarcity..................................................9 The private sector of business.........................................................11 Free market vs. regulation?..................................................................12 Further reading.......................................................................................28 Useful websites........................................................................................29 References..................................................................................................29 PART ONE Environments...........................31 2 The economic environment.....................33 Dorron Otter Themes........................................................................................................33 Introduction..............................................................................................34 Describing the economic environment.....................................34 Labour.......................................................................................................35 Land...........................................................................................................35 Capital.......................................................................................................35 Enterprise..................................................................................................35 Business and the economic problem..........................................35 Commodities............................................................................................35 36 36 37 37 38 .40 .41 .43 .43 .44 .44 .44 .44 .45 .45 45 .46 .46 .46 .47 .47 Competition vs. market power?.........................................................16 Profit vs. social responsibility?.............................................................16 Other sectors of business-the public sector and the third sector...............................................................................17 Differences between the private and public sectors......................18 Conceptualizing the environment of business......................20 Spatial level-local to global...............................................................20 Immediate and general environments.............................................20 Environmental uniqueness...................................................................21 Interaction between business and the environment- responding, influencing, and choosing......................................21 Responsiveness........................................................................................21 Influence...................................................................................................21 Choice of environment.........................................................................22 Environmental analysis....................................................................23 Markets and uncertainty......................................................................23 PEST...........................................................................................................24 SWOT.........................................................................................................24 Stakeholder analysis..............................................................................24 Summary....................................................................................................26 Case Study: Tax avoidance in a globalizing world- managing costs efficiently or acting immorally?...................26 Review and discussion questions..................................................28 Assignments..............................................................................................28 What makes for an efficient economic environment?...... The allocation problem....................................................... The production problem.................................................... The distribution problem................................................... Perspectives on the economic environment................ The ebbs and flows of the modern economic environment-capitalism and shifting currents of opinion......................................................................................... Adam Smith and the birth of classical political economy How do market systems work?................................................. Specialization and the division of labour....................... The price mechanism.................................................................. Allocative efficiency............................................................... Productive efficiency............................................................. Distributive efficiency........................................................... Neoclassical economics.............................................................. When do markets not work? Market failures and the case for government intervention.................... Allocation....................................................................................... Production...................................................................................... Degrees of competition....................................................... Natural Monopoly................................................................. Destructive competition...................................................... Microeconomic instability—price elasticity and income elasticity of demand.............................................. The three degrees of price elasticity of demand...................47 Income elasticity of demand........................................................48 Macroeconomic Instability...........................................................49 Distribution..............................................................................................49 Competing perspectives-social reform and socialism............................................................................................50 The development of global capitalism in the 20th century..............................................................................................51 The domestic business environment..................................................51 The global business environment-one world economy or three?................................................................................52 The rise of the neoclassical (neoliberal) perspective- from three worlds to one?....................................................................54 Looking ahead.........................................................................................56 Summary....................................................................................................56 Case Study: The 2008 credit crunch and the future of capitalism.......................................................................57 Review and discussion questions..................................................58 Assignments..............................................................................................58 Further reading.......................................................................................59 Useful websites........................................................................................59 References..................................................................................................59 3 The technological environment...............61 Dorron Otter Themes........................................................................................................61 Introduction..............................................................................................62 What is technology?.............................................................................62 The impact of technology on business and the implications for business strategy.................................................64 Technology strategy..............................................................................65 The evolution of technological change......................................67 Perspectives on the creation of favourable technological environments............................................................69 Is the world becoming flat?...............................................................72 The great innovation debate............................................................76 Looking ahead.........................................................................................78 Summary....................................................................................................80 Case Study: Just Google it!.................................................................80 Review and discussion questions..................................................82 Assignments..............................................................................................82 Further reading.......................................................................................82 Useful websites........................................................................................83 References..................................................................................................83 4 The political environment........................85 Paul Wetherly Themes........................................................................................................85 Introduction: what is politics? What has politics got to do with business?.....................................................................86 Creating the best place to do business .....................................89 The interdependence of business and government............90 Regulation................................................................................................91 Taxation....................................................................................................91 Public services..........................................................................................93 Government as customer.....................................................................93 Managing the economy.......................................................................93 The international dimension...............................................................94 Types of political system....................................................................94 Liberal democracy..................................................................................95 Variants of liberal democracy.............................................................96 Models of capitalism............................................................................97 Economic and political differences in a globalizing world.............................................................................101 Is democracy linked to economic success?...................................103 Multi-level governance....................................................................104 Supra-national governance-the European Union....................105 Reluctant Europeans?..................................................................106 Looking ahead......................................................................................106 Summary.................................................................................................107 Case Study: The rise (and fall?) of Big Government..........108 Review and discussion questions...............................................110 Assignments...........................................................................................110 Further reading.....................................................111 Useful websites.....................................................................................111 References...............................................................................................111 5 The legal environment...........................113 David Amos The legal environment and the themes of the book........113 Introduction...........................................................................................114 What is the law?...................................................................................115 Sources of the law...............................................................................116 Case law/precedent............................................................................116 Codes.................................................................................................116 Legislation.............................................................................................116 Constitution....................................................................................117 Structure of the courts........................................................................117 Criminal cases......................................................................................118 Civil claims............................................................................................118 The European Court of Justice.........................................................119 Tribunals and alternative dispute resolution...............................119 Comparison of court systems....................................................119 The European Union.........................................................................119 Sources of European law...................................................................120 Primary sources..............................................................................120 Secondary sources........................................................................120 Who makes European law?..............................................................121 Who enforces European law?...........................................................121 Business organizations.....................................................................123 Sole traders............................................................................................124 Partnership............................................................................................124 Limited liability partnerships............................................................125 Companies............................................................................................125 Public vs. private companies.....................................................125 Separate legal personality................................................................126 Effect of separate legal personality............................................127 Shareholders/members...................................................................127 Directors.................................................................................................128 Directors legal duties.........................................................................129 Company secretary/auditor.............................................................129 General Meetings and written resolutions....................................130 Legal action by shareholders............................................................130 What is the company for?................................................................131 How far should the law intervene-regulation v deregulation...........................................................................................132 Deregulation?.......................................................................................132 Regulation?...........................................................................................133 Alternatives to regulation?................................................................135 Looking ahead......................................................................................136 Summary.................................................................................................137 Case Study: The Working Time Directive...............................138 Review and discussion questions...............................................139 Assignments...........................................................................................139 Further reading....................................................................................139 Useful websites.....................................................................................140 References...............................................................................................140 Case law....................................................................................................142 6 The social and cultural environment..........................................143 Paul Wetherly Themes.....................................................................................................143 Introduction: what is the social and cultural environment?......................................................................144 Demographic trends-a growing and ageing population...............................................................................144 An ageing population........................................................................147 Implications of ageing for business and society.................150 Immigration and multiculturalism.............................................154 Implications of immigration for business and society...............155 Class structure.......................................................................................157 The meaning of class..........................................................................157 Capitalism and class...........................................................................158 The occupational order......................................................................159 Relevance of the class structure to business.................................161 Inequality................................................................................................162 Equality of opportunity versus equality of outcome..................162 The earnings distribution..................................................................163 Executive pay........................................................................................164 What has inequality got to do with business?.............................165 Incentives.........................................................................................165 The going rate.................................................................................166 Trickle down....................................................................................166 Social cohesion..............................................................................166 Morale...............................................................................................167 Greed and social responsibility................................................167 Reputation.......................................................................................167 Looking ahead......................................................................................168 Summary.................................................................................................168 Case Study: Social mobility-Is Britain a mobile society? How do we compare to other rich countries?.....................169 Review and discussion questions...............................................170 Assignments...........................................................................................170 Further reading....................................................................................171 Useful websites.....................................................................................171 References...............................................................................................171 7 Can the marketplace be ethical? Corporate responsibility.......................173 Simon Robinson Themes.....................................................................................................173 Introduction...........................................................................................174 The emergence of the CR agenda..............................................175 Key terms in the discussion of corporate responsibility 177 Corporate responsibility.....................................................................177 Corporate citizenship.........................................................................178 Business ethics......................................................................................128 Justifying CR...........................................................................................179 The free market view of CR..............................................................179 Stakeholder theory and CR............................................................181 The nature of responsibility and motivations for pursuing a CR policy..................................................................184 Self-interest...........................................................................................185 Mutual interest.....................................................................................185 Shared responsibility...........................................................................185 An overview of CR policy and process using Petrobras as a case study.................................................................186 The process and practice of CR....................................................186 Data gathering....................................................................................187 Value clarification and management............................................189 Responsibility negotiation and planning......................................191 Audit.......................................................................................................^ Looking ahead-beyond the triple bottom line..................193 Summary.................................................................................................194 Case Study: Caterpillar.....................................................................195 Review and discussion questions...............................................196 Assignments...........................................................................................197 Further reading....................................................................................197 Useful websites.....................................................................................197 References...............................................................................................198 8 The natural environment: global warming, pollution, resource depletion, and sustainable development..........................................199 Eamonn Judge Themes.....................................................................................................199 Introduction: the natural environment of business..........200 Historical context.................................................................................200 Moving from history to the present day.......................................200 The current global environmental problem and business, and the international response........................................................201 Global warming..............................................................................201 Pollution and resource depletion............................................202 International responses: the Earth Summit and after...................................................................................................205 The Rio Declaration............................................................................205 Agenda 21 -Global programme of action on sustainable development..................................................................205 UN Framework Convention on Climate Change.......................206 From Rio 1992 to Doha 2012..........................................................206 The application of sustainable development frameworks to environmental issues.......................................208 Conventional frameworks for dealing with environmental issues..........................................................................208 The concept of sustainable development (SD)...................209 Definitions of sustainable development........................................209 Development of sustainable development initiatives...............210 Types of approaches for dealing with environmental problems................................................................................................211 Market based policy measures................................................211 Non-market based policy measures.....................................211 Policy frameworks...............................................................................211 Sustainable development and business..................................212 Defining sustainability in relation to business.............................212 Site history.......................................................................................213 The production process..............................................................213 Product and communications..................................................214 The external environment..........................................................215 The significance of sustainable development for business............................................................................................217 The difficult part..................................................................................219 Looking ahead......................................................................................220 Summary.................................................................................................221 Case Study: Sustainable transport for a large business: the case of Leeds Metropolitan University............................221 Review and discussion questions...............................................224 Assignments...........................................................................................224 Further reading....................................................................................224 Useful websites.....................................................................................225 References...............................................................................................225 PART TWO Issues......................................227 9 Growth versus austerity: The macroeconomy in a globalizing world................................... 229 John Meehan and Chris Mulhearn Themes.....................................................................................................229 Introduction: the economy, macroeconomic policy, and globalization.................................................................................229 The objectives of macroeconomic policy......................................230 Macroeconomic objective 1: a stable and satisfactory rate of economic growth...................................................................231 Long-term growth...............................................................................234 Short-term growth..............................................................................235 Macroeconomic objective 2: a high and stable level of employment, and a consistently low level of unemployment.....................................................................................237 Macroeconomic objective 3: a low and stable rate of inflation.............................................................................................241 The case for stabilizing the economy.......................................242 Questioning the need to stabilize output and employment.................................................................................247 From stabilization policy to controlling inflation.......................249 Domestic macroeconomic policy in a globalized world..................................................................................251 Globalization s impact on domestic growth policy....................252 Globalization s impact on the pursuit of a high and stable level of employment...............................................................253 Globalization s impact on achieving a low and stable rate of inflation....................................................................................254 Global influences on domestic macroeconomic policy.............255 Looking ahead......................................................................................255 Summary.................................................................................................256 Case Study: Austerity in and out of the euro area, a necessity or a choice?....................................................................256 Review and discussion questions...............................................258 Assignments...........................................................................................259 Further reading....................................................................................259 Useful websites.....................................................................................259 References...............................................................................................259 10 Globalization of business: Good or bad?..........................................261 Dorron Otter Themes.....................................................................................................261 Introduction: the impact of sustainable development issues on the business environment...........262 What is globalization?.......................................................................263 International trade and the creation of the global marketplace.............................................................................263 Globally organized production and investment flows..............264 Migration...............................................................................................264 Communication flows........................................................................265 Cultural flows.......................................................................................265 Rapid technological change.............................................................265 The growth of globalization..........................................................265 Perspectives on globalization.......................................................266 Neoclassical/neoliberal views..........................................................266 Ricardo and comparative advantage............................................267 Socialist/Marxist views: globalization is bad-the dependency tradition.........................................................................269 Structuralist writers-globalization could be good if..................270 The 2008 global crisis and the end of the Washington Consensus....................................................................273 Globalization and the newly industrialized countries..................................................................................................276 Global ethics for the global business?......................................278 Employment practices........................................................................278 Human rights.......................................................................................279 Environment.........................................................................................279 Abuse of market power......................................................................280 Attitudes to graft and corruption....................................................280 Looking ahead......................................................................................280 Summary.................................................................................................281 Case Study: Is trade the engine of growth?............................281 Review and discussion questions...............................................283 Assignments...........................................................................................283 Further reading....................................................................................283 Useful websites.....................................................................................284 References...............................................................................................284 11 Does business have too much power?.. 286 Paul Wetherly Themes.....................................................................................................286 Introduction...........................................................................................287 What is power? What s it got to do with business?............287 Corporate power.................................................................................289 Political power and corporate power.......................................290 Stakeholders and the play of power .......................................293 Bargaining power................................................................................293 Consumer sovereignty?...............................................................294 Industrial relations........................................................................296 Buyer power in the supply chain.............................................297 Engagement with civil society organizations..............................297 Business in the political arena......................................................299 Does business enjoy a privileged position in the political process?..................................................................................300 The representation of business interests........................................302 Control without trying........................................................................304 The consequences of globalization...........................................305 The ups and downs of business influence over policy-making............................................................................306 Business influence- nothing special or unique ?.............306 Is business influence in the political process a good thing?.......................................................................307 Looking ahead......................................................................................307 Summary.................................................................................................308 Case Study: The political influence of the car industry....................................................................................308 Review and discussion questions...............................................310 Assignments...........................................................................................310 Further reading....................................................................................311 Useful websites.....................................................................................311 References...............................................................................................311 12 Are opportunities in business equal?,... 313 Stephen Taylor and Paul Wetherly Themes.....................................................................................................313 Introduction...........................................................................................315 Some preliminary definitions.......................................................315 Why has equality of opportunity moved up the agenda?............................................................................................318 A woman s place?................................................................................320 Flexible work.........................................................................................321 Flexibility and parenthood.........................................................321 Occupational segregation.................................................................322 The gender pay gap...........................................................................323 Why is work-life balance moving up the agenda?............326 Social trends..........................................................................................326 The intensification of work...............................................................326 Labour market trends.........................................................................327 Government initiatives.....................................................................327 Working time regulations.................................................................328 Part-time workers regulations............... Time off for family emergencies........... Maternity and paternity leave.............. Adoption leave......................................... Parental leave............................................ The right to request flexible working.. Stress checks............................................... .329 .329 .329 .330 .330 .330 .331 Employer initiatives...........................................................................331 Summary-Does it matter? Is business responsible?........333 .............................335 .............................336 .............................337 .............................338 ............................338 .............................338 .............................339 Looking ahead............................................... Case Study: McDonald s restaurants.. Review and discussion questions........ Assignments.................................................... Further reading............................................. Useful websites.............................................. References........................................................ 13 Creating effective trading blocs: What lessons does the European Union provide?........................................................340 Stratis Koutsoukos and Dorron Otter ..................340 ..................341 ..................342 ..................346 Themes........................................................................ Introduction.............................................................. Forms of Integration and trade in theory.. Trading biocs in reality........................................ The European Union: a deepening, widening, or fragmenting union?.....................................................................348 Enlargement.........................................................................................350 Institutions and decision-making in the EU.................................351 Council of Ministers of the European Union.......................351 European Parliament....................................................................352 European Commission................................................................352 Decision-making in the EU........................................................352 Cultural diversity and business implications................................354 The euro and business-One step too far or one step short of a full ladder?........................................ The performance of the euro........................................... Doing business in Europe................................................... Stakeholder management in the EU.................................. Competition and industry policy......................................... Industry policy.......................................................................... Looking ahead.......................................................................... Summary..................................................................................... .354 .355 .357 .357 .358 .359 .361 .362 Case Study: The development of the ASEAN trading bloc............................................................................................362 Review and discussion questions...............................................363 Assignments...........................................................................................363 Further reading....................................................................................364 Useful websites.....................................................................................364 References...............................................................................................365 14 The public sector: becoming more business-like in a globalizing world?.............................-....................... 366 Richard Rooke Themes.....................................................................................................366 Introduction...........................................................................................367 Management: public sector management in the globalizing era..............................................................................370 The changing public sector in a global age.................................372 Privatization.........................................................................................372 New public management.................................................................373 Partnerships: the public and the private sectors and the building of partnerships................................374 Public services.......................................................................................374 Public private partnerships (PPPs)..................................................377 Private finance initiative (PFI).........................................................379 The increasing complexity of public service provision: the voluntary sector, NGPBs, and agencification .....................379 The voluntary sector...........................................................................381 Agencification or distributed governance...................................382 Performance and accountability: the importance of data collection and the auditing of public services, its impact on the public-private partnerships, and public service delivery............................................................383 New debates: the changing public sector in a digital age-digital era governance (DEC) a new hypothesis?.............................................................................................384 Looking ahead......................................................................................386 Summary.................................................................................................387 Case Study: The information economy and the digital age: cyberspace and cyber-crime and the reaction of agencies through private and public partnerships in the European Union. The way forward?.........................................................................................387 Review and discussion questions...............................................390 Assignments...........................................................................................390 Further reading....................................................................................390 Useful websites.....................................................................................391 References...............................................................................................391 Acknowledgements...........................................................................392 15 Small and medium-sized enterprises (SMEs): A larger role in driving economic progress?............................... 393 Martyn Robertson, Carol Langston, and Alison Price Themes.....................................................................................................393 Introduction...........................................................................................394 Understanding enterprise and entrepreneurship.............394 What is an enterprise or SME?......................................................396 Who is an entrepreneur?...................................................................397 Defining the entrepreneur as social, serial, or an intrapreneur..........................................................................................397 A serial entrepreneur..................................................................398 What is an intrapreneur?...........................................................398 What makes an entrepreneur?........................................................399 Key dimensions in the development of small business.......................................................................................400 Stage of growth....................................................................................400 Sector......................................................................................................402 General building contractors.....................................................405 Restaurants and cafés...................................................................405 Retailing and the rise of supermarkets...................................405 Technology and knowledge intensive services....................406 Values of enterprise.............................................................................406 The importance of SMEs within the overall economic activity................................................................409 UK business population and their associated employment and turnover................................................................410 Registered and unregistered businesses.........................................412 UK entrepreneurial performance and activity............................413 Strengths and weaknesses of small businesses...................414 Widening participation in entrepreneurship.......................416 Female entrepreneurs.........................................................................416 Why fewer women than men start businesses: A summary.......................................................................................420 Black and minority ethnic (BME) entrepreneurs........................421 Graduate entrepreneurs.....................................................................421 A view from the UK: the NCEE..................................................421 A view from the UK: graduates given a flying start ...........422 Family firms are important...............................................................422 Looking ahead......................................................................................423 Politically how will the various governments cope?..................423 Will appropriate support, advice and funding be provided?..........................................................................................424 Summary.................................................................................................425 Case Study: The female entrepreneur (interview).............426 Review and discussion questions...............................................428 Assignments...........................................................................................428 Further reading....................................................................................428 Useful websites.....................................................................................429 References...............................................................................................429 16 Conclusion: Looking ahead—managing in a dynamic environment.................... 433 Dorron Otter and Paul Wetherly Themes.....................................................................................................433 Introduction...........................................................................................434 Looking ahead: the global political environment..............435 Challenges for the future global political environment.......................................................................437 Global and national governance....................................................437 Global power of big business...........................................................438 Global climate change.......................................................................440 Global inequality and political instability....................................441 Looking ahead: the economic environment........................443 Trade, development, and growth in a rebalanced global economy...................................................................................443 Looking ahead: the social environment..................................445 Social inequality and relative affluence........................................445 Migration...............................................................................................447 Demographic changes.......................................................................447 Looking ahead: the technoiogicai environment................448 Summary.................................................................................................450 Case Study: The football business-the state of play in 2013......................................................................................450 Review and discussion questions...............................................452 Assignments...........................................................................................452 Useful websites.....................................................................................452 References...............................................................................................453 Glossary.....................................................................455 Index..........................................................................469
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genre_facet	Einführung
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indexdate	2025-02-20T06:43:23Z
institution	BVB
isbn	9780199661381 0199661383
language	English
oai_aleph_id	oai:aleph.bib-bvb.de:BVB01-027139247
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spellingShingle	Wetherly, Paul Otter, Dorron The business environment themes and issues in a globalizing world Umwelt (DE-588)4061616-2 gnd Unternehmen (DE-588)4061963-1 gnd
subject_GND	(DE-588)4061616-2 (DE-588)4061963-1 (DE-588)4151278-9
title	The business environment themes and issues in a globalizing world
title_auth	The business environment themes and issues in a globalizing world
title_exact_search	The business environment themes and issues in a globalizing world
title_full	The business environment themes and issues in a globalizing world Paul Wetherly and Dorron Otter
title_fullStr	The business environment themes and issues in a globalizing world Paul Wetherly and Dorron Otter
title_full_unstemmed	The business environment themes and issues in a globalizing world Paul Wetherly and Dorron Otter
title_short	The business environment
title_sort	the business environment themes and issues in a globalizing world
title_sub	themes and issues in a globalizing world
topic	Umwelt (DE-588)4061616-2 gnd Unternehmen (DE-588)4061963-1 gnd
topic_facet	Umwelt Unternehmen Einführung
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027139247&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
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