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The Economic Environment - Amazon Ring Camera Scandal - Coggle Diagram
The Economic Environment - Amazon Ring Camera Scandal
Market forces
Competitors
Inflation for Amazon's products
Price fluctuation in Amazon's products
Increased option of similar products available in market
New product Launch
Better quality and safety features
Better Warranty
Source of Finance
Expensive - Increased rate of interest
Share Market
Decrease in share price
Businesses
External Entrepreneurs- Competitors
Introduction of similar product with high quality
Advertise product with better security features
Provide discounts on existing or similar products
Resources
Suppliers and third party manufacturers
Strict Policy and agreement
Switch to alternative company
Increased supply price
Social media advertising - poor product reviews
Media and advertising platforms - poor rating and adverse feedback
Knowledge
External IT support
Legal advisors and lawyers
Legal action
Management
Attentiveness and strict policy while selecting supplier
Product quality, IT and security checks
Government
Federal
Strict laws against security breach
Penalty to Government
Compensation to buyer
Ban the sale of product or put conditions
Regulate Economy
Interest rate control
Restricted flow of money
International trade restrictions
Taxation policy
Increased taxes on Unsecure products
Judicial
Appeals and Judgement in legal suit against Amazon
Individuals/Customers
Opportunity Cost
Prefer Competitors' product
Purchasing Power
Decrease in demand
Cultural belief
Sensitiveness against sexual harrasement
Law suit - Devastating Amazon's Goodwill
Knowledge
Legal Action against security breach