Question

Question 1:- Which elements of the General Environment are significant to the future of the German luxury car industry ?

Answer 1

Hope so this helps you!

Answer 2

The following elements of the General Environment are significant to the future of the German luxury car industry:

Explanation:

1) Political factors

• Political factors comprise goods and services which the government wants to be provided and those that the government doesn’t want to be provided. For example, incentives and trade barriers to the public to buy new cars.  

2) Economic factors

• Economic factors include disposable income, interest rates, unemployment rates, inflation, exchange rates, and gross domestic product. These factors have chief impacts on how businesses function and make decisions and the automotive industry has an enormous impact on every country’s economy.  

3) Social factors

• Social factors include the cultural facets and comprise population growth rate, awareness, age distribution, emphasis on safety, and carrier attitudes. Trends in social factors influence the demand for an organization’s products and how it operates. Besides, companies may change various management tactics to adjust to these social trends.

4) Technological factors

• Technological factors include environmental and ecological aspects, such as R&D activity, automation, the rate of technological change, and technology incentives. Additionally, technological shifts can affect quality, costs, and lead to innovation.