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Growth in economics refers to economic growth of a country and it means an increase in the market value of services and goods produced by a country over a period of time. Whatever the meaning is taken, both inflation and growth are closely related and dependent on each other and a proper balance should be established. When the money supply increases in the market then disposable income increases in the economy and demand for goods increases by customer. But due to
Jyotindra Zaveri (2011) ERP levels. Available at: http://www.ehow.com/about_5366970_types-erp-systems.html (Accessed: 16 June 2014). Bundit Wonglikphai (2011) Project Management in Enterprise Resource Planning (ERP) Implementation. Available at: http://www.umsl.edu/~sauterv/analysis/f06Papers/Wonglikphai/ (Accessed: 17 June 2014). Web (2008) Enterprise resource planning (ERP) – Concepts, Methods and Frameworks.
(2015). Role of Government in Business Ethics | Chron.com Retrieved from http://smallbusiness.chron.com/role-government-business-ethics-65128.html CIPS.org. (2007, August) Pdf. Retrieved from http://www.cips.org/Documents/About%20CIPS/Ethical_Bus_Prac%20printed.pdf Dineshbakshi.com. (n.d.) Stakeholders and their objectives Retrieved from http://www.dineshbakshi.com/igcse-business-studies/business-activity/revision-notes/1257-stakeholders-and-their-objectives Mack, S. (2015).
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It also indicates that the highest wages may contribute to an overall rise of costs for all firms. Secondly, import prices also cause the cost push inflation. When our value of money is devaluated, then the import prices from other country like United Kingdom, United State of America, Australia and New Zealand will become more expensive which will then further lead to an increase in inflation. Our country citizens have to pay more in order to buy the imported goods. Thirdly, the prices of raw material also will influenced the inflation.
Business ethics guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Examples of business ethics in the workplace may include abusive behaviour, sexual harassment, cheating the company, just to name a few. What is business sustainability? Business sustainability is the management and coordination of environmental, social and financial demands and concerns to ensure responsible, ethical and ongoing success.
Identifying Firm’s Strength and Weakness: Business environment helps to identify the individual strengths and weaknesses in view of the technological and global developments. NATURE OF A BUSINESS ENVIRONMENT: The nature of Business Environment is simply and better explained by the following approaches. Fig 1.2 Different approaches to the Nature of Business Environment (i) System Approach: In original, business is a system by which it produces goods and services for the satisfaction of wants, by using several inputs, such as, raw material, capital, labour etc. from the environment. (ii) Social Responsibility Approach: In this approach business should fulfil its responsibility towards several categories of the society such as consumers, stockholders, employees, government etc.