What's Wrong With The Way Business Is Taught?

The Things You Can Control vs. The Things You Can't Control

Learning Objectivess

The objectives for this unit are to help the reader understand:

  • the role played by each of the 6 environments in business
  • that these 6 environments can in turn influence each other
  • that being aware of changes in the environments can help one do business effectively

When the reader has completed this unit it would expected that they could read information about a marketing, business or international business situation and analyze this in terms of what environments are involved and how they exerted influence

The Ten Fingers of Marketing

What's Wrong With The Way Business Is Taught?

A basic education in business and marketing at the college or university level gives the student an understanding of the 4P’s - things you can do something about and the 6 environment - things you cannot do anything about.

The 4P’s are things you can change - you can adapt the product, change the price, modify your promotion and move your place; but the 6 environments that effect business are not things you can change they are things you react to:

  • Competitive Environment
  • Economic / Financial
  • Physical / Geographic
  • Political / Legal / Regulatory
  • Sociocultural / Ethnic / Linguistic
  • Technological

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The Fourth Industrial MBA