Many political factors have an influence on the business community, ranging from the philosophy of the governing party to political responses to economic trends. When government leaders and agencies set policies, they start trends that often have a powerful influence on the legal structure within which businesses either thrive or start to atrophy, as well as financial market conditions affecting consumer attitudes and the level of assistance that the government offers to businesses. Being able to read the political winds is a crucial part of strategic planning for a business.Know More
One area in which political parties often differ is the degree of regulation that the business community needs to face. When the party permitting a more hands-off approach to regulating businesses is in power, then businesses do not have to worry about oversight in the areas of safety and environmental protection as much as they do when the party that favors more regulation is in the majority.
Political parties also differ in the way they view business tax structure. More conservative parties tend to want lower taxes on businesses, with the idea that less taxation brings in more business. More liberal parties tend to raise taxes, making it costlier for businesses to operate.Learn more about Business Resources
Founded in 1912, the Better Business Bureau, or BBB, is a nonprofit organization that aims to promote ethical business practices across the United States and Canada. The motto of the organization is "Start with Trust."Full Answer >
International business is important because it gives domestic companies access to new markets, potentially increasing sales and profitability. Operating internationally can also help a company lower expenses through direct access to cheaper materials and labor.Full Answer >
The physical resources of a business include all the tangible resources owned and used by a company such as land, manufacturing equipment and office equipment. Information technology and its attendant equipment, computers, networks, servers and others, are included in the category of physical resources.Full Answer >
Some business models divide the functions into three main categories: producing, selling and supporting. Lesser functions are placed into these larger categories.Full Answer >