Shaofan Sun, Eric Love, Gabe Schembri.

What This includes Banks/Credit Unions Stock Brokers Financial Advisors

Global Role As it is a service, banks, and stockbrokers do not have trade regulations, usually. However, Stockbrokers must know about stocks all over the world as people invest internationally. Also, recently, people have begun to invest in currencies rather than gold so banks are incorporating global policies.

Legal and Government Role People are protected and insured by the government from bank bankruptcies/robberies. Stockbrokers still trick peoples’ money sometimes. Financial advisors and all other people can be taxed on income. Governments can impose regulations on Financial Service firms in order to promote fair trade practices, boost the economy, encourage competition, and more. President Barrack Obama is known for liking to impose restrictive policies on large banks.

More on Government They have to regulate business practices to make sure they are ethical and economically sustainable.

Social and Cultural Environments Financial Advisors tend to be monochromic in that they accomplish single tasks at a time and Stock Brokers are more polychromic, accomplishing a multitude of tasks at once. Both of these services are high context. The target market of financial services are middle to high class individuals who seek money management.

Ethics Banks must be ethical. Economic downturns can be caused when Banks decide to loan more than they have to sustain. This would require the government to bail them out.

Technology Computerized bank transactions. Online stock brokerage sights such as E*TRADE.

Business Trends Only some business trends effect the finical advice industry. There not selling a product or item so the need for advertising is not as great. They still need to focus on topics and trends like functions and quality of not only there product but also there business. They also have to be in constant reaction to where how old and when there market is at its best. Weather its teenagers and TV shows, or seniors and newspapers. The economy also impacts there business in more people seek advice and peace of mind from others in harder times. In the economy now a lot of people are seeking a second opinion from a financial advisor s to either confirm stock trading or money management like bankers.

Business Trends Culture has a big impact on what trends a business sets. There target market might have certain cultural values that others might not. Financial advisors have some restrictions in that some cultures don’t have large economies. They must set these trends to have maximum benefit from the large or small economy

Adaption1 All businesses need to adapt to the changing outside environment in order to maintain success. As the stock market is constantly changing, stock brokers must continually watch it and buy or sell accordingly. Financial advisors must also look at the economy and stocks in order to wisely advise people what to do with their money.

Adaptation 2 Services may also change or expand target markets to adapt to environment changes. Banks that usually lend to families may change and lend to entrepreneurs or young people. If new competition arrives, Financial service businesses may need to lower price, change targets, or advertise more. Many times, when a bank with high profit rates due to unethical practices moves into the business area of a bank with ethical practices, the ethical bank can be either pressured into unethical practices, or be forced to sell their business.

Possibly the End! Depending if more slides are needed!