Applied Economics Module 1, Lecture notes of English

Download Applied Economics Module 1 and more Lecture notes English in PDF only on Docsity! SENIOR HIGH SCHOOL Applied Economics Business Environment Self-Learning Module 1 666 Quarter 4 www.shsph.blogspot.com Applied Economics Quarter 4 – Self-Learning Module 1: Business Environment First Edition, 2020 Republic Act 8293, Section 176 states that no copyright shall subsist in any work of the Government of the Philippines. However, prior approval of the government agency or office wherein the work is created shall be necessary for exploitation of such work for profit. Such agency or office may, among other things, impose as a condition the payment of royalties. Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names, trademarks, etc.) included in this module are owned by their respective copyright holders. Every effort has been exerted to locate and seek permission to use these materials from their respective copyright owners. The publisher and authors do not represent nor claim ownership over them. Published by the Department of Education - Schools Division of Pasig City Printed in the Philippines by Department of Education – Schools Division of Pasig City Development Team of the Self-Learning Module Writer: Emmanuel B. Penetrante Editor: Edna D. Camarao, PhD Reviewers: Content/Language: Edna D. Camarao, PhD, Dennis T. Alex Technical: Emmanuel B. Penetrante Illustrator: Layout Artist: Clifchard D. Valente Management Team: Ma. Evalou Concepcion A. Agustin OIC-Schools Division Superintendent Aurelio G. Alfonso EdD OIC-Assistant Schools Division Superintendent Victor M. Javeña EdD Chief, School Governance and Operations Division and OIC-Chief, Curriculum Implementation Division Education Program Supervisors Librada L. Agon EdD (EPP/TLE/TVL/TVE) Liza A. Alvarez (Science/STEM/SSP) Bernard R. Balitao (AP/HUMSS) Joselito E. Calios (English/SPFL/GAS) Norlyn D. Conde EdD (MAPEH/SPA/SPS/HOPE/A&D/Sports) Wilma Q. Del Rosario (LRMS/ADM) Ma. Teresita E. Herrera EdD (Filipino/GAS/Piling Larang) Perlita M. Ignacio PhD (EsP) Dulce O. Santos PhD (Kindergarten/MTB-MLE) Teresita P. Tagulao EdD (Mathematics/ABM) www.shsph.blogspot.com For the learner: Welcome to the Applied Economics Self Learning Module on Business Environment! This module was designed to provide you with fun and meaningful opportunities for guided and independent learning at your own pace and time. You will be enabled to process the contents of the learning material while being an active learner. This module has the following parts and corresponding icons: Expectations - This points to the set of knowledge and skills that you will learn after completing the module. Pretest - This measures your prior knowledge about the lesson at hand. Recap - This part of the module provides a review of concepts and skills that you already know about a previous lesson. Lesson - This section discusses the topic in the module. Activities - This is a set of activities that you need to perform. Wrap-Up - This section summarizes the concepts and application of the lesson. Valuing - This part integrates a desirable moral value in the lesson. Posttest - This measures how much you have learned from the entire module. www.shsph.blogspot.com After going through this module, you are expected to: 1. define environmental scanning; 2. differentiate internal and external environment; and 3. discuss the micro and macro environment factors. Directions: Read each statement carefully. Choose the letter of the best answer and write it on a separate sheet of paper. 1. It is a process of identifying the internal and external elements that affect the organization’s performance. A. Business Analysis B. Business Environment C. Environmental Analysis D. Environmental Scanning 2. It includes all internal and external factors that affect the performance of the company. A. Environmental Analysis B. Environmental Scanning C. Business Analysis D. Business Environment 3. These factors are controllable by the management. A. Micro Environment B. Macro Environment C. Internal Environment D. External Environment EXPECTATIONS PRETEST www.shsph.blogspot.com 4. These factors are beyond the control of the management however, have a great impact on the performance, decision making, and strategy of the business. A. External Environment B. Internal Environment C. Macro Environment D. Micro Environment 5. It is a strategic tool to identify the external and internal environment. A. Environmental Analysis B. Environmental Scanning C. Business Analysis D. Business Environment Directions: Describe the effects of taxation on income, indirect tax, and inflation. 1. ______________________________________________________________________________. 2. ______________________________________________________________________________. 3. ______________________________________________________________________________. Business Environment It includes all internal and external factors that affect the company’s performance and functions. It includes employees, customers, management, supply and demand, business regulations, and competition. LESSON RECAP www.shsph.blogspot.com 4. Technological Factors Technological factors affect the management and marketing in three ways: new ways of producing goods and services, new ways of distributing goods and services, and new ways of communicating with target markets. 5. Environmental Factors These factors have become important due to the increasing scarcity of raw materials, pollution targets, doing business as an ethical and sustainable company. 6. Legal Factors It includes health and safety, equal opportunities, advertising standards, consumer rights and laws, product labeling, and product safety. It is clear that companies need to know what is and what is not legal in order to trade successfully. Activity: Environmental Scanning Directions: Think of one (1) business establishment nearby. Identify the micro and macro environment factors that affect the business establishment. Micro Environment Factors 1. Suppliers 2. Resellers 3. Customers 4. Competitors Macro Environment Factors 1. Political 2. Economic 3. Social 4. Technological 5. Environmental 6. Legal ACTIVITIES www.shsph.blogspot.com To summarize what you have learned in the lesson, answer the following questions: 1. What is environmental scanning? 2. What is the difference between the internal and external environments? 3. What are the micro and macro environment factors? Reflect on this! “You cannot get through a single day without having an impact on the world around you. What you do makes a difference and you have to decide what kind of a difference you want to make.” —Jane Goodall Directions: Read each statement carefully. Write T if the statement is correct, otherwise write F. ____________1. Economic factors include economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses. ____________2. The presence of one or more competitors can reduce the prices of goods and services as the companies attempt to gain a larger market share. ____________3. Environmental analysis is a process used by organizations to monitor their external and internal environments. ____________4. A customer is an individual or business that purchases products. ____________5. Environmental scanning is a strategic tool in assessing the level of threat or opportunity the factors might affect the business. WRAP-UP VALUING POSTTEST www.shsph.blogspot.com References Academy, Professional. "Marketing Theories – PESTEL Analysis." Professional Academy. Accessed August 13, 2020. https://www.professionalacademy.com/blogs-and-advice/marketing- theories---pestel-analysis. Bloomenthal, Andrew. "Cashing in on Customers." Investopedia. February 05, 2020. Accessed August 13, 2020. https://www.investopedia.com/terms/c/customer.asp. "Environmental Scanning: Explanation, Components and Factors." Toppr. December 09, 2019. Accessed August 13, 2020. https://www.toppr.com/guides/commercial-knowledge/business- environment/environmental-scanning/. "What Is Competitor? Definition and Meaning." BusinessDictionary.com. Accessed August 13, 2020. http://www.businessdictionary.com/definition/competitor.html. Brian BrassawBrian Formerly Managed the Earth911 Recycling Search and Shared Green Living Tips and Tricks on Earth911’s Instagram, Manojweb, and Venkanna. "Earth Day: 23 of the Greatest Environmental Quotes." Earth 911. July 24, 2020. Accessed August 13, 2020. https://earth911.com/inspire/earth-day-23-quotes/. KEY TO CORRECTION PRETEST 1.D 2.D 3.C 4.A 5.A POSTTEST: 1. T 2. T 3. F 4. T 5. F www.shsph.blogspot.com