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Generally speaking an environment includes the air we breathe, the water we drink, the available business, social and educational infrastructure in the locality, state and country etc. In the context of business the environment refers to the sum of internal and external forces operating on an organization. The managers must perforce recognize the elements, severity and impact of these forces on the organization. They must identify, evaluate and react to the forces triggered by the external environment. The economic environment consists of factors that affect consumer purchasing power and spending patterns. Economic factors include business cycles, inflation, unemployment, interest rates, and income. Changes in major economic variables have a significant impact on the marketplace. For example, income affects consumer spending which affects sales for organizations. According to Engel's Laws, as income rises, the percentage of income spent on food decreases, while the percentage spent on housing remains constant. Information Technology lies at the very heart of today’s organizations and many companies are now so dependent on their networks that they take them for granted. In today’s 24/7 digital economy, just imagine the business implications of critical data being lost, internet and email access being unavailable or your internal network going down. True business resilience can only be attained when network capability is fused with a high level of consultative input at the stage of designing new network infrastructures. Until now, the legacy practice has been to keep customers at arm’s length from the services they use and act as merely a circuit provider, rather than responding to customers’ requirements. The next generation of telecoms provider need to invest in their service delivery, and not solely their network, ensuring that their customers feel connected to their teams as well as their network. The author has been writing articles online for nearly 1 year now. Not only does this author specialize in modern art, fitness and weight loss, you can also check out the author's latest website on replica watches and replica watches uk.
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