Introduction to Business Lecture 02

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Presentation transcript:

Introduction to Business Lecture 02 MGT211 Introduction to Business Lecture 02

External Factors Economy of the country Per capita income of the country General employment or unemployment Economic Growth Exchange rate Inflation rate

Demographic factors Demographic factor is a study of population Population brings customers. Population tells the size of market and nature of customers.

Demographic factors Total Population Population Distribution Distribution on the basis of gender In Pakistan female population is further divided into two categories: Household Women Working Women

Demographic factors Population growth rate The rate at which population of an area increases/decreases.

Political and Legal factors Political Factors Preference and priorities of the Government Attitude of the Government towards Exports Government taxation policy

Political and Legal factors Laws related to Health Laws related to Imports and Exports Laws related to Taxation Laws related to Packing Laws related to Child Labor Laws related to Labor Union

Technological Factors Business people have to pace with the technological advancements.

Sociocultural Factors Religion Followers of one religion have influence over the buying behavior of the society.

Natural Factors Act of God Natural factors are out of our control Business people will develop product considering natural resources