Analysis of the social economic climate|Legit essays

Posted: January 22nd, 2023

This week, you will continue to compile Section 1 of your playbook. Be sure to address the requirements for Part 2 and include specific examples (where appropriate) and relevant citations from the Learning Resources or from others throughout the program, the Walden Library, and/or other appropriate academic sources to support your work.

Submit your 3- to 4-page analysis of the social economic climate, to include the following: Please use Tesla Motors as the organization. I have included last week completed assignment to help. This is a continuation to do Part 2 Only. Use Assignment Template that’s attached.

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Part 2: Analyzing the Social and Economic Climate

· Identify the external social and economic impacts of the organization.

· Examine how the  social environment can influence the organization’s business strategy. Be specific, including what factors are most conducive to influencing.

· To support your assertions, research and locate at least two organizational examples of business practices that have shown success factors. For each example, do the following:

· Briefly describe each organization (including what type of company it is, what sector/industry it is in, etc.).

· Provide at least one specific example of how each organization employs (or employed) these factors in its business practices.

References:

Imagine a small town in which a new factory is built. Then think about how that business might impact its local community. You may consider the possible job opportunities that the factory will provide to people living in the area, or perhaps you might think of the potential impact to the environment of gases or other chemicals introduced into the air or water supply as a result of production. Or perhaps, that factory, through its corporate social responsibility practices, can provide services that benefit the neighborhoods and families in its local or even global community. No business operates in a vacuum, and whether positive or negative, it is likely to have some kind of impact based on its business practices. Using these resources, you will consider the social and economic impacts of organizations.

· Lumen Learning. (n.d.).  The business environment Links to an external site. . In  Boundless business. https://courses.lumenlearning.com/boundless-business/chapter/the-business-environment/#:~:text=The%20Social%20Environment Note: You are only required to read the section titled “The Social Environment.” The time estimate is based on this section only.

In addition to understanding how a business influences the environment in which it operates, it is critical to understand how that environment influences the stability and success of a business. The outside business climate includes financial, political, regulatory, social, and other environmental factors that can have a significant impact on how a business operates and engages with its customers and stakeholders. Remaining aware of the ever-changing needs and influences of society is critical for business leaders so that they can remain competitive in the market while also advancing the organization’s strategic initiatives.

· Duro, K. (2018, March 26).  The effects of social environment on business  Links to an external site. . Imperium Apps. https://imperiumapps.com/the-effects-of-social-environment-on-business/

Gitman, L. J., McDaniel, C., Shah, A., Reece, M., Koffel, L., Talsma, B., & Hyatt, J. C. (2018).  1.2 understanding the business environment  Links to an external site. . In  Introduction to business. OpenStax. https://openstax.org/books/introduction-business/pages/1-2-understanding-the-business-environment

SOLUTION

The social and economic climate refers to the current state of society and the economy. This can include factors such as unemployment rates, GDP, inflation, consumer sentiment, and social issues. A thorough analysis of the social and economic climate would involve studying data and trends in these areas, as well as considering the potential impact of current events and government policies. The social and economic climate can have a significant impact on individuals and businesses, and can change rapidly in response to events such as natural disasters, pandemics and political changes