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TYPES OF BUSINESS ENVIRONMENT
Type of Business Environment
Company Image and Brand Values
an image that people hold in their mind about the company, its products, and its services.
When a company has a good corporate image, it means that the consumer is giving value to its products or services. age,
it means Consumer will also be willing to pay more for what you offer.
Physical Assets and Facilities
tangible assets and can be seen, touched and held, with a very identifiable physical existence.
Physical assets include land, machinery, buildings, tools, equipment, vehicles, gold, silver, or any other form of material economic resource.
Research and Development
• when businesses gather knowledge to create new products or discover new ways to improve their existing products and services.
Larger companies may have their own research and development team that will test and refine products or processes before commercial use.
Intangibles
Affect company's decisions but cannot measured in terms of money Environment effect, employee morale, motivation, leadership, goodwill of the company, patent, trademarks, copyright etc.
Competitive Advantage
• factors that allow a company to produce goods or services better or more cheaply than its rivals.
• Cost based advantage,
First mover advantage.
Time based.
technology based etc.
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