Instructor's Teaching Manual for Business in Context 8th Edition

BUSINESS IN CONTEXT, 8th EDITION –
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TEACHING MANUAL CHAPTER ONE
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THE CONCEPT OF BUSINESS IN CONTEXT
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Thiscchaptercexplainscthec‘BusinesscincContext’cmodelcthatciscusedcthroughoutcthecboo
k.cAllcfourccontextscarecidentified;cenvironmental,corganizational,cstrategiccandcfunctio
nal,creferredctocasc‘activitiesclevel’ccontext.c Incaddition,ctwoctheoreticalcframeworkcou
tlinescarecoffered;csystemscandccontingency.c Bothcframeworkschavecbeenc usedctocdev
elopcthec‘BusinesscincContext’cmodel.

Thecmodelccancbecusedctocanalyzecindividualcfirmscandcentirecindustrialcorcbusinesscsec
tors.c Acusefulcexercisecforcstudentscisctocnominatecacparticularcsector,cfirmcorcorganiza
tioncknownctocthemc(itccouldcbectheirccollege,cuniversitycorctheirc department)candcgetcth
emctocdevelopcancanalysiscusingcthec‘BusinesscincContext’c model.

Discussion questions and answers
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Belowcyoucwillcfindcsuggestedcanswersctocthecdiscussioncquestionscsetcatcthecendcofcev
erycchapter.c Itcmustcbecstressedcthatcthesecanswerscoffercguidanceconlycandcarec notcinte
ndedcasc‘model’canswers.c Itciscimportantcthatcstudentscthinkcforcthemselvesc andcmany
cofcthecquestionscrequirecthemctocapplycthecknowledgectheychavecgainedc fromcthecboo

kctocacspecificccontext.c Wecrecognizecthatcsuchccontextscmaycvarycforc differentcgroupsco
fcstudents.c Itciscmorecimportantcthatcstudentscthinkcofcthecissuescincthecindustry,cbusin
esscorcevencnationalccontextcthatciscmostcrelevantctocthem.c Inc someccases,cacspecificca
nswerccannotcbecgivencbut,cwherecthischappens,csuggestionsc arecofferedcforctacklingct
hecquestion.



For use with Needle/Burns, Business in Context 8th edition (9781473786707)
© 2023 Cengage Learning EMEA

,1. Thecfivecenvironmentalcvariables,cfivecorganizationalcvariablescandcfivecbusi
c

nesscactivitieschavecbeencidentifiedcincthecmodel.c Bycnecessity,cthesecreprese
ntcbroadccategories.c Whatcarecthecpossiblecelementscthatcmightcbecconsider
edcundercthecvariouscheadingscusedcincourcmodelcofcbusiness?

Environmentalccontextc

Economy
(Thecnaturalcenvironmentcandcitscimpactconcthececonomyccouldcbecconsideredc
herecorcundercacseparatecheading,cincadditionctocthecfivecelementscidentifiedcinc
thecbook.cThisccouldcbecacusefulcstartingcpointctocgetc studentsctocthinkcaboutcth
ecutilitycofcthecmodel.)
 Levelcofcactivity
 Economiccstructure
 Economiccchange
 Internationalcfinancecandccurrencycexchange
 Naturecofclabourcmarkets
 Competitivecstructures
 Globalization
 Multinationals

Thecstate
 Politicalcideology
 Politicalcchange
 Governmentceconomiccpolicy
 Legislation
 Levelcofcinterventioncandctypescofcintervention
 Naturecandcrolecofcbureaucracy
 Interestcgroups
 Supranationalcorganizationscandcglobalization

Technology
 Productcandcprocessctechnology
 Changingcusecofctechnologycincorganizations
 Informationctechnology
 Digitalcandcsocialcmediactechnology
 Scalecandcnaturecofctechnologicalcchange
 Technologycandcthecglobalceconomy
 E-Commerce
 Impactconcorganizationcstructure
 Impactconclabourcmarketscandcjobs

Labour
 Behaviourcofclabourcmarkets
 Compositioncofctheclabourcforce

For use with Needle/Burns, Business in Context 8th edition (9781473786707)
© 2023 Cengage Learning EMEA

,  Changingcnaturecofcjobscandctheclabourcforce
 Rolecofctradecunions
 Alternativecformscofcemployeecrepresentation

Culturecandcinstitutions
 Nationalcdifferences
 Sub-nationalcandcsub-culturalcdifferences
 Globalization,cconvergencecandcculture
 Businesscpracticescandcmanagementcstylescincdifferentccultures
 Impactcofccultureconcbusinesscsuccess
 Transfercofcideascandcpracticescacrossccultures
 Non-
culturalcbasescofcnationalcdifferences,csuchcascthecnaturecofcgovern
ment,clegislation,ceducationcsystem,cfinancialcsystems,cstockcmarket
s,cetc.

Organizationalccontext

c Goals
 Typescofcgoals
 Missioncstatements
 Goalscandcstrategy,cgoalscandcoperations
 Goalcconflict
 Goalscandcperformance
 Businesscethics

Ownership
 Ownershipcandccontrol
 Thecnotioncofcagency
 Typescofcownership
 Ownershipcandcperformance
 Publiccversuscprivatecownership

Structure
 Typescofcstructure
 Influencesconcstructure
 Theclinkcbetweencstrategycandcstructure
 Structurecandcperformance
 Thecflexiblecfirm

Size
 Issuescrelatedctoclargecversuscsmallcfirms
 Sizecandcstructure
 Sizecandcbusinesscperformance
 Thecsmallcfirmscsectorcandcitscrolecincthececonomy

For use with Needle/Burns, Business in Context 8th edition (9781473786707)
© 2023 Cengage Learning EMEA

, Organizationalcculture
 Influencesconcculture
 Typescofcculture
 Influencesconcperformance
 Issuescofcculturalcchange
 Limitationscascacmanagementccontrolcdevice

Businesscactivities

Innovation
c


 Invention
 Researchcandcdevelopment
 Design
 Entrepreneurship

Operations
 Convertingcinputsc(information,cmaterials,cfinance,ctechnology,cpeople,c
etc.)cintocproductscandcservices
 Production
 Delivery
 Supplycchaincmanagement

Marketing
 Marketcresearch
 Productcdesign
 Creatingcdifferentcproductscforcspecificcmarkets
 Promotioncandcadvertising
 Pricing
 Distributioncandcmethodscofcreachingctheccustomer
 Thectransformationcincmarketingcresultingcfromcdigitalcandcsocialcmediact
echnologies

Humancresourcecmanagement
 Creatingcacstaffcprofilectocmeetcthecstrategiccneedscofcthecfirm
 Recruiting,cselecting,ctrainingcandcrewardingcstaff
 Retainingcstaff
 Howcpeoplecarecrewardedcandcmotivated
 Employmentcrelations
 Thecrolecofchumancrelationscincachievingcstrategiccgoals

Financecandcaccounting
 Raisingcfundsc(Financialcaccounting)
 Managingcincomecandcexpenditurec(Managementcaccounting)
 Financialcreporting


For use with Needle/Burns, Business in Context 8th edition (9781473786707)
© 2023 Cengage Learning EMEA