- Published: August 30, 2022
- Updated: August 30, 2022
- University / College: George Mason University
- Language: English
- Downloads: 13
The impact that a change in Government Decisions will have on my business could be done through many ways, one of these is that it could change how customers of Apple act as they may need to follow certain laws such as taxes which would impact customer’s spending. Another way Apple can be impacted is that government would stop people of the country using certain technological services such as blocking of the internet and Wi-Fi, and this would then impact the sales of this in these countries. Lastly, another way Apple can be impacted by a government decision is that if government spending increases, then schools and colleges would look to spend this on improving the technology side of their institution and Apple products may be purchased for this. Apple will respond to the changes of customers and how they act by creating ways of increasing demand to make sure sales and profits levels remain, also an increase in prices and promotion would be needed for this. For Apple and reacting to government’s stopping technological services in certain countries would be to modify their services so that they are more user-friendly to these countries.
To finish, Apple would respond to a change in government spending with increasing prices and supplies, as the demand of their products would have increased and would have to make sure they take advantage of these potential sales. This change will have a big impact on my business because they have the power to make big decisions which could have a huge impact on things like the customers of Apple which are the main reason of the amount of sales or profit Apple make, this means these decisions could determine whether Apple are successful. The impact that a change in Government Policies will have on Apple is that any alterations to policies may mean that a business will have to change certain things they do in the business or risk negative impacts. One of these changes in government policies is competition policies which Apple may have to alter what they do and how they do it in terms of supplies, marketing and price, this is because the market would be shared equally, and these will be monitored regularly to ensure they’re not going away from this.
Another government policy which would impact Apple is a change in social policies which is to do with welfare and protection which means if this policy started changing and becoming non-existent then crime rates would increase, which would lead to Apple having to spend money on improving the security. Lastly, one more policy which would impact my business is transport policies as the accessibility of the store is important to Apple and if changes were to occur then they would find it harder to continue with large sales and profits as customers and suppliers would find it difficult going to the store and both are key maintaining these figures. In terms of how Apple would respond, for competition policies with changing certain prices in the business and lowering the amount of marketing they do in the business, as this would take a large percentage of customers away from other stores, also by lowering or increasing prices means customers have money to spend elsewhere or could go to other stores because prices are equal.
The way they will respond to social policies is that of making money available so they can improve on the areas to make sure that social policies do not become an issue. To finish with, Apple would respond to transport policies by investing and showing the local government why an improvement or changes in transport would help them and benefit everyone, and then invest in this so they can improve on and maintain the levels of sales and profits. This change will have a medium impact on the business as the government have policies in place that could affect the business in terms of customer levels and sales; however the impact would not be too big as there are ways of getting round it. The impact that a change in Government Spending will have on my business can be through many ways, the impacts I will talk about is through Public Services and spending money on training and education.
The way in which Public Services could impact Apple is that the government are able to put money into places such as schools and hospitals which means that these public services would be looking to improve their services as a whole and this would include technology in which Apple are right at the top for these, which means a whole new market would open for Apple if government spending was given the go ahead for these public services. With this, for spending money on training and education and if changes in this could impact Apple as when spending money to improve education and training for jobs then it means that people would be more qualified and that means Apple are able to employ more people as people have the capabilities of being able to work for them, and this leads to Apple opening more stores or new areas in the business for them to capitalise on these employees. My business will respond to these impacts of government spending in the same way, this would be to increase prices as they know the demand would be there for certain prices, and this increase in prices for these specific products almost guarantees Apple will have a raise in sales and profits.
This change will have a small impact on Apple medium impact on the business as the money they would receive from these sales would put their profits in a much better place, however the business would still be in a strong and healthy position financially without these sales. The impact that a change in Economic Management will have on my business is that an increase of interest rates may have a significant impact on the businesses net profit as interest rates outline the expenditure of people in an economy. One of these impacts is Interest Rates which means the economy would make changes in this depending on how they want people to react, this is seen as if they were to raise interest rates then they would want consumers to save more and have much less spending, and this impact on Apple means they would lose out on a number of sales and would have to make changes in terms of amount of marketing and prices of products.
Additionally on interest rates, the other change they would make is lowering the interest rates in order to for people to spend more, and this impact on Apple is huge as sales and profits would be high and they can do things such as raise prices, raise promotion and cut their losses. Another impact is to do with a change in Tax; this change can be lowering tax as it would mean people would have more money to spend and for Apple this means they will be able to spend their money elsewhere to improve the area, also there customers would spend more as they have more money. Additionally, it would be cheaper for businesses to set up; this means more businesses would start setting up in the area, which leads potential competitors for Apple. This change will have a very big impact on the business as these changes would impact on how successful they are in terms of the amount sales and profits they would make from this.