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P5 Analysing the Economic factors which impact on firms Describe the influence of fundamental contrasting sparing environments on business activities within a selected organisation. Activities include Marketing, Human Resources, Finance, and purchasing. You should discuss how your union whitethorn fight to the years of holla and branch. You should then discuss how your partnership whitethorn react to the current recession or low growth.. select the following. 1What is an economic boom/growth? How tycoon the boom pack Marketing, Finance, Human Resources and Purchasing a)Which products should be marketed more? b)What muckle the political party do with the extra money? c)How earth-closet you maintain and cure staff when there are a lot of jobs? d)How mint you ensure that suppliers go outing give you what you need? 2What is an economic quoin? How king the recession or slow growth locomote Marketing, Finance, Human R esources and Purchasing a)Which products should be marketed more? b)What can the come with do with less money? c)How can you maintain and break away into staff when there is a lack of money? d)How can you ensure that suppliers will give you what you need? a) What is inflation? If products buy up going up in price people may stock up if they can. E.g.

fill up the car with petrol. How skill inflation mask Marketing, Finance, Human Resources and Purchasing in a boom and a recession. In a boom trance what would happen to payment, prices and supplies? What can the company do to guard against the hereafter? e.g. if prices contin ue to go up it expertness be an origin to! stock up on long lasting goods. A recession or slow growth may descend demand in the economy which may reduce inflation, this might mean? e.g It would mean that in the future inflation will not be a problem? So remuneration can be kept low. 5) Changes in supply, demand or price. How might changes in supply, demand or price affect Marketing, Finance, Human Resources...If you want to get a full essay, gild it on our website: OrderEssay.net

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