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TMA 01 - B207 - Coggle Diagram
TMA 01 - B207
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Offshoring
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Unreliable due to basic supply shortages and business's incapability of resolving issues directly caused by distance.
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The Micro-environment
Competitors
The pandemic caused competition between vendors when customers shop online. Organisations will have to assess the market to prevent them from losing customers.
Suppliers
Relationships can be tested by power imbalances, disruptions, supply shortages and cost increases.
The business cycle
Recession - employment raising, decrease in customer spending, sales and profit decreasing, etc.
Trough - Businesses operating below full capacity, wages and salaries at low levels, high level of unemployment, etc.
The Macro-environment
STEEPLE
Social factors; lifestyle changes - isolation due to covid. Attitudes of consumers have changed - online shopping for non-essential items.
Economic factors - Unemployment is rising, inflation rates are rising and there's a decrease in purchasing power.