Environmental Factors Supporting the Business Essay

Environmental Factors Supporting the Business - Essay Example The term strategy refers to the long term or short term business methodology which is adopted by the company for its benefit. The business strategy itself includes hundreds of different elements which can help a company increase its market share while taking customers away from the competition. While looking at South China Electric, it can be seen that their strategy is about to undergo a change since the company has come out of its start-up phase and is ready to compete within the market with other companies namely, Fujian Light & Power and Fuzhou Electric. This also demonstrates a key aspect of strategy since it is one element of the company which often changes with the environment. Â  Culture is a term used to express the way of work at a particular company. This term also ties into the system of management which is used at a particular office or at a particular organization depending on how open or closed the company is to its workers. From the case study, it seems that the culture of the South China Electric will come from the culture of the owner company i.e. Hong Kong Power since the parent company has sent a management team to work at SCE. The culture of the company is often defined, designed and setup but the people at the top therefore whatever shape or form they give to the company will be the culture likely to come up in the company. Â  A business is an enterprise that brings people together for a common purpose which is usually to generate revenue. To bring people together and to see how revenue is being generated as well to expedite the opportunities by which revenue can be created for the company, a business can invest in and used use technology to its advantage. Business technology can be anything from a mechanical pencil used to take notes in a meeting to something as complex as an electron microscope used for commercial medical research.