What are the four types of facilities managments
People, Place, Process, and Productivity
Why is the macro environment important?
It influences business performance, decisions, and competitiveness.
Can businesses control macro environment factors?
No, but they must manage their impact.
What does STEEPLE stand for?
Socio-cultural, Technological, Economic, Environmental, Political, Legal, Ethical.
What do socio-cultural factors include
Consumer trends, tastes, demographics, and behaviours.
How does technology give businesses an advantage?
It improves efficiency, productivity, communication, and reduces costs.
What are two key ways technology improves operations?
Automation and research & development.
What do economic factors include?
Consumer confidence, interest rates, and inflation.
What are examples of environmental factors?
Climate change, waste disposal, recycling, power use, sustainability.
What do political factors involve?
Government policy, taxation, legislation, and regulation.
What do legal factors cover?
Consumer protection and employment laws.
What is a business code of ethics?
A set of values guiding how a business operates.
