Explore BrainMass
Share

The Five Elements in the Business Environment

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Identify and discuss each of the five elements in the business environment. Please be very specific/detailed.

© BrainMass Inc. brainmass.com October 25, 2018, 12:11 am ad1c9bdddf
https://brainmass.com/business/the-product-lifecycle/five-elements-business-environment-219595

Solution Preview

1. Identify and discuss each of the five elements in the business environment. Please be very specific/detailed.

By definition, a business environment " encompasses all those factors that affect a company's operations, and includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors, and technological developments." (1)

Business functions could be analogically classified in terms of the five elements. Wang (2002) has endeavored to assign the business functions to the five elements by analogy: the research and development function as Wood, the marketing function as Fire, the operations and human resources functions as Earth, the financial, accounting and purchasing functions as Metal, and the innovation as well as information functions as Water. The interactions of business functions could also be represented by the nourishing and controlling ...

Solution Summary

This solution identifies and discusses in detail each of the five elements in the business environment.

$2.19
See Also This Related BrainMass Solution

Marketing Audit: Starbucks Coffee Shops, Environmental Aspect Section

3 elements for The Starbucks Coffee are:
I need each element and each question in the element answered (using at least 5 references) This is about Starbucks Coffee Shops and their Environmental Aspect section of a marketing audit. Conclusion.

1) Culture---how have attitudes towards business in general, the industry, and the organization changed? Have attitudes toward environmental protection had either a positive or negative impact on the organization or brand? What other cultural phenomena had an impact? What adjustments have been made? Have they succeeded? What additional adjustments are being contemplated? Why?

2) Customers----how do customers view the organization or brand? How do they view the competition? Has the purchasing process changed? Is there a clear understanding of customer wants and needs? Are there different market segments? Are there emerging market segments? What adjustments have been made? Have they succeeded? What other changes are being contemplated? Why?

3) Competition---who are the companies or brands with which the organizationor brand competes? What are their sales and market share trends? How do their approaches to the market differ from the organizations, and from each other? Are there any specific strengths that are major threats? What adjustments have been made? Have they succeeded? What other changes are being contemplated? Why?

View Full Posting Details