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THE ECONOMIC ENVIRONMENT
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World Financial Crisis (Credit Crunch) that started in 2008 affecting financial insitutions, consumers,
businesses and governments
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Unemployment rate increasing due to the credit crunch.
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Lloyds TSB acquires Halifax Bank of Scotland
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The collapse of Lehman Brothers ( One of the biggest US mortgage company send shock wave accross the
world)
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The collapse of MG Rovers and the taking over of the British Car Manufacturer by Chinese auto
company.
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US grants about $300billion rescue package to bailout its major financial institutions.
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The British Government comes to the aid of Bradford and Bingley - one of its key mortgage provides
with financial support to rescue it from going into administration
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The British Government also took steps to Nationalise Northern Rock and prevent the collapse of the
bank by pumping in money to save the bank.
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Major job cuts by businesses e.g. Lloyds TSB, IBM, etc.
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Fuel price increase
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Milions of households in Britain could be caught up in fuel poverty this winter.
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High inflation rate in Zimbabwe - inflation has skyrocketed to a record high.
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THE SOCIAL ENVIRONMENT
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Culture
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Demography
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Education
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Health
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Transportation
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World food crisis --- shortage of world food production. The world food demand is more than what its
capable of producing thereby laeding to scarcity.
THE TECHNOLOGICAL ENVIRONMENT
The advent of new technologies for example
Chip and Pin
Self service machines: for example in supermarkets, customers can scan and pay for their products.
At the petrol station, one can pump fuel and pay for it without needing any help etc
The Internet which facilitates communication, advertisement, etc
THE ECOLOGICAL ENVIRONMENT
THE LEGAL ENVIRONMENT
Smoking Ban
Drink driving law
Alcohol law
Health and Safety law
Equal opportunity law
Sunday closing law
Law of contract
Pollution law
STOP AND THINK
Carry out a research on the World Business Environment to find out the latest trends in world politics,
economic, social, technological, ecological and legal factors affecting global businesses.
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