The paper "Ford and Wal-Mart Businesses" is a perfect example of a business assignment. The four external factors that affect business include the government, economy, consumer trends and public pressure to act as good corporate citizens. For Walmart and Ford, the change in the economy would mean that the purchasing power of consumers reduces and thus low-profit margins. This effect will be brought especially by inflation which means higher pricing keeping off most consumers. Government regulations have to adhere too, when these regulations are not well met Walmart as well as Ford will have to lose money in funding legal fines.
When the consumer trends negatively shift from a product would result in losses on the goods already stocked. The seasonality of the computer trends will define the market share of the goods in question. Lastly, the industry in which Ford and Wal-Mart operate make decisions depending on the desire to be a good corporate citizen. The two organizations will have to iron out all issues that have attracted the attention of the consumers so as to attract their loyalty. 1.2.1 The factors of production include land or any other natural resource required, labour, capital and entrepreneurship.
The land could be leased or bought so as it set up the factory. For the necessary materials, they can either be imported or sourced in the local market from various manufacturers. For labour, the source would definitely be the local population as well as the importation of experts in case they are not locally available. Capital can be through very many channels such as loans, savings, and equities among others. Lastly, for entrepreneurship, the source would be the people charged with running the company. in matters relating to the necessary technology, the best way would be through leasing then as the firm progresses the management considers making a purchase.
As mentioned the source of money could be through sponsors, loans, grants from the government and savings among others. 1.2.2 The first question is, what are the goods and services that should be produced to meet the needs of the consumers? This covers the quantity and the time utility as well.
Foundation of Business, 1st edn., The Faculty of Business, Government & Law at
The University of Canberra