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The Business Environment
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The Business Environment
fifth edition
Ian Worthington and Chris Britton
Additional student support at
An imprint of www.pearsoned.co.uk/worthington
Additional student support at
www.pearsoned.co.uk/worthington
Key Features
Learn about the latest issues in business: technology
and e-business, corporate responsibility, and sociocultural influences
Apply theory to practice through diverse cases and
examples, such as Amazon, Toyota and the mobile
phone market
Study online! Test your knowledge through self-assessment
questions, and find useful weblinks at
www.pearsoned.co.uk/worthington.
What roles do culture, diversity and ethics play in the dynamic world of business
today? How do unpredictable political and economic conditions affect an
organisation? What are the impacts of globalisation, social and technological change on
business decisions?
Using well-known examples and case studies from the public and private sectors, this fifth
edition of The Business Environment addresses these key questions and many more.
Encouraging students to consider the challenges and opportunities that managers face in the
business environment, it provides a strong basis from which to build an overall understanding of
the context of business.
ISBN 0-273-70424-9
9 780273 704249
www.pearson-books.com
Ian Worthington is a Reader and Chris Britton a Principal
Lecturer in the Department of Strategy and Management at
Leicester Business School, De Montfort University.
The Business Environment
fifth
edition
The Business Environment
fifth edition
Ian Worthington and Chris Britton
and
Worthington
Britton
A vibrant and contemporary introduction to the
business environment, Worthington and Britton
comprehensively examine how external influences affect
the decisions and operations of today’s organisations.
0273704249_COVER.qxd 18/4/06 08:46 Page 1
The Business Environment
Visit the The Business Environment, fifth edition, Companion Website at
www.pearsoned.co.uk/worthington to find valuable student learning
material including:
● Self-test questions for every chapter
● Links to articles and resources on the Internet
● Searchable online glossary
BUEN_A01.QXD 4/4/06 2:58 pm Page i
We work with leading authors to develop the
strongest educational materials in business,
bringing cutting-edge thinking and best learning
practice to a global market.
Under a range of well-known imprints, including
Financial Times Prentice Hall, we craft high quality
print and electronic publications which help readers
to understand and apply their content, whether
studying or at work.
To find out more about the complete range of our
publishing please visit us on the World Wide Web at:
www.pearsoned.co.uk
BUEN_A01.QXD 24/4/06 1:46 pm Page ii
fifth edition
Ian Worthington and Chris Britton
Leicester Business School, De Monfort University, Leicester
The Business Environment
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Pearson Education Limited
Edinburgh Gate
Harlow
Essex CM20 2JE
United Kingdom
and Associated Companies around the world
Visit us on the World Wide Web at:
www.pearsoned.co.uk
First published in Great Britain in 1994
Second edition 1997
Third edition 2000
Fourth edition 2003
Fifth edition 2006
© Ian Worthington and Chris Britton 1994, 1997, 2000, 2003, 2006
The right of Ian Worthington and Chris Britton to be identified as authors of
this work has been asserted by them in accordance with the Copyright,
Designs, and Patents Act 1988.
All rights reserved. No part of this publication may be reproduced, stored in
a retrieval system, or transmitted in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise without either the prior
written permission of the Publishers or a licence permitting restricted copying
in the United Kingdom issued by the Copyright Licensing Agency Ltd,
90 Tottenham Court Road, London W1P 0LP.
ISBN-13: 978-0-273-70424-9
ISBN-10: 0-273-70424-9
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library.
Library of Congress Cataloguing-in-Publication Data
A catalogue record for this book is available from the Library of Congress.
10 9 8 7 6 5 4 3 2 1
10 09 08 07 06
Typeset in 9.5/13 pt Stone Serif by 30.
Printed and bound by Mateu Cromo Artes Graficas, Spain.
The publisher’s policy is to use paper manufactured from sustainable forests.
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For Lindsey, Tom and Georgina and for
Rachael, Philip, Nick and Megan, with our love
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BUEN_A01.QXD 4/4/06 2:58 pm Page vi
Full contents ix
Contributors xviii
Preface to the first edition xix
Preface to the second edition xx
Preface to the third edition xxi
Preface to the fourth edition xxi
Preface to the fifth edition xxii
Guided tour xxiv
Part One INTRODUCTION 1
1 Business organisations: the external environment 3
2 Business organisations: the internal environment 18
Part Two CONTEXTS 39
3 The political environment 41
4 The macroeconomic environment 80
5 The demographic, social and cultural context of business 120
6 The resource context 145
7 The legal environment 171
Part Three FIRMS 197
8 Legal structures 199
9 Size structure of firms 231
10 Industrial structure 262
11 Government and business 289
Part Four MARKETS 313
12 The market system 315
13 Market structure 341
14 International markets and globalisation 367
15 Governments and markets 402
Part Five ISSUES 429
16 The technological environment: e-business 431
17 Corporate responsibility and the environment 447
18 Monitoring change 471
Glossary 496
Index 513
Brief contents
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Contributors xviii
Preface to the first edition xix
Preface to the second edition xx
Preface to the third edition xxi
Preface to the fourth edition xxi
Preface to the fifth edition xxii
Guided tour xxiv
1 Business organisations: the external environment 3
Ian Worthington
Learning outcomes and key terms 3
Introduction 4
The business organisation and its environment 4
The general or contextual environment 7
Mini case: A healthy business? 7
The immediate or operational environment 9
Analysing the business environment 10
Mini case: Levi Strauss: jean therapy? 10
Central themes 13
Synopsis 14
Summary of key points 14
Case study: A shock to the system 15
Review and discussion questions 16
Assignments 16
Further reading 17
2 Business organisations: the internal environment 18
Ian Worthington and Zena Cumberpatch
Learning outcomes and key terms 18
Introduction 19
Approaches to organisation and management 19
Organisation structures 23
Mini case: Change at Deutsche Bank? 23
Mini case: Royal Dutch Shell 28
Contents
Part One INTRODUCTION
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The virtual organisation 29
Structural change 30
Aspects of functional management 30
Synopsis 35
Summary of key points 35
Case study: Structuring global companies 36
Review and discussion questions 37
Assignments 38
Notes and references 38
Further reading 38
3 The political environment 41
Ian Worthington
Learning outcomes and key terms 41
Introduction 42
Political systems 44
Government in democratic states 46
Mini case: Action on the environment 50
The three branches or functions of government 52
Mini case: Supranational lobbying 54
Checks and balances in democracies 57
A model of the policy process 58
Synopsis 60
Summary of key points 60
Appendix 3.1: A democratic political system in action:
UK national government 60
Appendix 3.2: Subnational government: UK local authorities 68
Appendix 3.3: Supranational government: the European Union 71
Case study: Left out in the cold 77
Review and discussion questions 78
Assignments 78
Notes and references 79
Further reading 79
4 The macroeconomic environment 80
Ian Worthington
Learning outcomes and key terms 80
Introduction 81
Economic systems 82
Eastern Europe: economies in transition 86
Politico-economic synthesis 88
The macroeconomy 90
x Contents
Part Two CONTEXTS
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Mini case: Global economic crisis 96
Government and the macroeconomy: objectives 97
Mini case: Indicators of success 103
Government and the macroeconomy: policies 104
The role of financial institutions 109
International economic institutions and organisations 111
Synopsis 114
Summary of key points 115
Case study: Toyota UK 116
Review and discussion questions 118
Assignments 118
Notes and references 118
Further reading 119
5 The demographic, social and cultural context of
business 120
Ian Worthington
Learning outcomes and key terms 120
Introduction 121
The demographic environment of business 121
The social context 126
Mini case: Fit for purpose? 131
The cultural environment 133
Mini case: National cultures 134
Application: market segmentation 136
Synopsis 138
Summary of key points 138
Case study: The effects of an ageing population 138
Review and discussion questions 143
Assignments 144
Notes and references 144
Further reading 144
6 The resource context 145
Chris Britton
Learning outcomes and key terms 145
Introduction 146
People 146
Mini case: The minimum wage 151
Technology 156
Mini case: Call centres 158
Natural resources 164
Synopsis 167
Summary of key points 167
Case study: Resource prices 168
Review and discussion questions 169
Assignments 169
Contents xi
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Notes and references 170
Further reading 170
7 The legal environment 171
Diane Belfitt and Martin Taylor
Learning outcomes and key terms 171
Introduction 172
Classification of law 172
Mini case: Banking on advice 173
Sources of law 174
The legal system: the courts 176
Mini case: Jean-Marc Bosman – a case of foul play? 178
Business organisations and the law 179
Contract law: the essentials 180
Agency 183
Law and the consumer 184
Codes of practice 190
Synopsis 190
Summary of key points 191
Case study: The sale of goods and the Internet 191
Review and discussion questions 194
Assignments 194
Notes and references 195
Further reading 195
8 Legal structures 199
Ian Worthington
Learning outcomes and key terms 199
Introduction 200
Private sector organisations in the UK 200
Mini case: Daimler-Benz under pressure 206
Public sector business organisations in the UK 209
Business organisations in mainland Europe 212
The public sector in mainland Europe 216
Legal structure: some implications 217
Mini case: Big Mac gets bigger 222
Franchising, licensing and joint ventures 222
Synopsis 225
Summary of key points 225
Case study: The entrepreneurial spirit 226
Review and discussion questions 229
xii Contents
Part Three FIRMS
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Assignments 229
Notes and references 229
Further reading 230
9 Size structure of firms 231
Chris Britton
Learning outcomes and key terms 231
Introduction 232
The size structure of UK industry 232
Organisational growth 234
Mini case: Mergers in commercial radio 235
Methods of growth 236
Finance for growth 239
Small firms 245
Mini case: The small-firm sector 251
Multinationals 254
Synopsis 255
Summary of key points 255
Case study: Executive search 256
Review and discussion questions 260
Assignments 260
Notes and references 260
Further reading 260
10 Industrial structure 262
Chris Britton
Learning outcomes and key terms 262
Introduction 263
The structure of industry 263
Mini case: The life cycle model 274
Deindustrialisation 278
Mini case: Productivity 279
Synopsis 282
Summary of key points 283
Case study: Spending on leisure services 283
Review and discussion questions 286
Assignments 287
Notes and references 287
Further reading 287
Appendix 10.1: The Standard Industrial Classification (SIC), 2003 288
11 Government and business 289
Ian Worthington
Learning outcomes and key terms 289
Introduction 290
Government and business: an overview 290
Contents xiii
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Regional policy 291
Regional aid within the European Union 294
Mini case: Attracting foreign inward investment 296
UK urban policy 297
Selected urban policy instruments 299
More recent developments in urban policy 301
Local government and business in the UK 302
Business as an influence on government 303
Mini case: Oiling the wheels? 303
Synopsis 309
Summary of key points 310
Case study: Government and business – friend or foe? 310
Review and discussion questions 311
Assignments 312
Notes and references 312
Further reading 312
12 The market system 315
Chris Britton
Learning outcomes and key terms 315
Introduction 316
The market mechanism 316
Demand 316
Supply 319
Price determination 322
Mini case: Branston Pickle 324
Price controls 326
Mini case: Pollution 328
Elasticity of demand 329
Elasticity of supply 333
The importance of the market to business 334
Synopsis 335
Summary of key points 335
Case study: The Common Agricultural Policy of the European Union 335
Review and discussion questions 338
Assignments 338
Notes and references 339
Further reading 339
13 Market structure 341
Chris Britton
Learning outcomes and key terms 341
xiv Contents
Part Four MARKETS
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