Why Context is Vitally Important to the Success

Running head: CONTEXT OF BUSINESS
CONTEXT OF BUSINESS
Name of the Student
Name of the University
Author Note

1CONTEXT OF BUSINESS

2CONTEXT OF BUSINESS
Table of Contents
Introduction.................................................................................................................................................4
External Audit.............................................................................................................................................5
PESTLE Analysis of Samsung................................................................................................................5
Political Factors.......................................................................................................................................5
Economic Factors....................................................................................................................................6
Social Factors..........................................................................................................................................6
Technological Factors..............................................................................................................................6
Ecological Factors...................................................................................................................................7
Legal Factors...........................................................................................................................................7
Internal Audit..............................................................................................................................................8
SWOT Analysis.......................................................................................................................................8
Micro Economic Factors.............................................................................................................................9
Supply and Demand................................................................................................................................9
Elasticity................................................................................................................................................10
Price Elasticity.......................................................................................................................................10
Fg Represents the price elasticity of smartphone...................................................................................11
Cross Elasticity......................................................................................................................................11
Fg Represents the cross elasticity of demand.........................................................................................12
Income Elasticity...................................................................................................................................12
Oligopoly Market or Competition.............................................................................................................13

3CONTEXT OF BUSINESS
Limitations of microeconomics.................................................................................................................13
Conclusion.................................................................................................................................................13
References.................................................................................................................................................14