Английский язык. Горохов В.М. - 22 стр.

                                     Text 3

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       The Economic Environment

        Governments have four main macroeconomic objectives: full employment,
stable prices, steady economic growth and a satisfactory balance of payments. All
four aspects of the economy have significant implications for business activity.
        The economic environment consists of the many factors that influence and are
influenced by organizational decisions, such as population, market changes, public
pressure, labour market legislation and economic policy. So, the economic
environment is one of the external constraints in our decision-making framework.
        Not all firms will be affected in the same ways by the factors given. The small
local builder will often be powerless to respond to a reduction in the demand for
building services as a result of increased local unemployment. In contrast, a public
limited company moving to a new area may overcome shor-tages in the local labour
market by paying suitable employees to move with it.
        Organizations, especially in business, must identify and understand the nature
of the environment in which they operate. Failure to do so will leave the organization
uncertain of how to respond to any changes in the environment. In contrast, a clear
objective assessment of the organization's relationship with its environment will
allow proaction rather than reaction. Clearly, prevention is better than cure.
Understanding should also allow prioritization: that is, the identification of those
areas which need immediate attention and action.
        Each of the environmental factors will exert pressure on the organization. The
nature and extent of the pressure will change over time, depending on the response of
the organization. Ignoring important changes may severely restrict the attainment of
objectives.
        One of the central requirements of our decision-making framework is
information, including information about the economy in its role as an external
constraint. In gaining a better understanding of the way the economy works, the
decision-making framework becomes more powerful, and the quality of decisions
made should improve accordingly. To provide this understanding, we must start at
the beginning.
        The function of any economy is to allocate the scarce resources at its disposal
between the unlimited and competing wants of its population all the goods and
services demanded by individuals, organizations and the government.




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