TryIT - The external environment for Maze Green Yachts
Now that you have considered the way in which the external environment affects businesses, you may like to see how effectively you can take account of it while trying to run a major yacht manufacturer.
In the window below is the Maze Green Yachts online business simulation. In this, you get to see how well you can run a major international yacht manufacturer.
To test how well you can manage the company with changes taking place in the external environment, go to the Maze Green business simulation (you can either do this in the window below or you can open it in a separate window by following the previous link).
In the simulation the firm will be affected by changes in both the national and international economy. Try running the simulation for a few quarters to assess how Maze Green are affected by the external environment and then consider the following questions.
Identify three changes in the economy that would lead to an increase in demand for yachts.
A government budget is approaching. Suggest changes in government policy for which Maze Green Yachts are likely to be lobbying.
Maze Green Yachts are considering publishing a Corporate Social Responsibility Report for their stakeholders. Discuss the areas that they should consider in this report.
Analyse the impact that a reduction in interest rates is likely to have on Maze Green Yachts.
Discuss the impact on Maze Green Yachts of a competitor making a major technological breakthrough in the materials used to manufacture yachts. What policies could they adopt to minimise the effect of this?