7. Political Factors LO.docx - Lecture 7 Political Factors Learning Objectives 1 Understand the impact that the government has The government plays many

7. Political Factors LO.docx - Lecture 7 Political Factors...

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Lecture 7: Political Factors Learning Objectives 1 Understand the impact that the government has The government plays many different roles including: - Taxation Agent: This includes collecting tax on three levels: o Progression: The greater the income the greater your tax is o Regression: The lower your income the greater the tax takes up of your income o Restrictive: Meant to restrict purchases - Incentive/Financial Support: The government can provide support as they can: o Bail outs o Tax breaks o Subsidies o Support services - Provider of essential services: You don’t want your army being run by a company as then it will have to suit their personal needs. You want a service without bias - Regulator/Law Maker: Creates laws that will o Protect customers o Promote innovation o Promote competition o Protect environment o Achieve social goals Explain how government influences business – link these roles to Porter’s Five forces The government can act as two roles on the government: - Customer: o Buyer: The government can purchase products/services from customers which can help companies be successful o Suppliers: The government can supply products/services for customers which can help companies be successful - Competition: o Substitutes: The government can provide a substitute product/service which means that people are more likely to shift towards them increasing competition o Rivalry: If the government acts like a company this increases the rivalry as customers will be split on which product/service to go for The government can directly compete with your firm by regulating the prices you charge Explain how government influences the other three PEST factors Explain how government decisions are linked to the critical success factors
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Describe the various forms of intellectual property protection and provide an example Understand what each one protects and in what way it protects There are three types of intellectual property protection: - Trademarks: Used to protect logos/symbols of a company. This is important because
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  • Fall '18
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