Social Influences
Section 1: Understanding Social Influences
-
Social influences refer to societal trends, barriers, norms, and behaviour that affect the operations and strategic decisions of a business.
-
These influences stem from the attitudes, beliefs, opinions, and lifestyle choices of individuals and groups within society.
-
Understanding and reacting to these social forces is key to successful business planning and customer engagement.
Section 2: Cultural Norms and Values
-
Cultural norms and values greatly shape consumers’ behaviour, which ultimately determines the demand for a business’s products or services.
-
By understanding and respecting such norms and values, businesses can identify customer needs, cater to them effectively, and foster customer loyalty.
-
An example of this is how food companies adjust their recipes and menus to local dietary preferences when they expand into new regions or countries.
Section 3: Societal Trends
-
Societal trends are patterns of behaviour observed over an extended period of time within society.
-
These trends can influence consumer behaviour and preferences, impacting the market demand for certain products or services.
-
For example, the increasing focus on health and fitness in society might lead to more demand for healthy food products and fitness-related services.
Section 4: Social Barriers
-
Social barriers are societal attitudes, beliefs or norms that may prevent or restrict business activities or decision-making.
-
These barriers can include stigma against certain products or services, resistance to change, gender or racial biases, or even digital divide.
-
For instance, a business offering products or services that are controversial or unfamiliar might face resistance or backlash from society.
Section 5: Responding to Social Influences
-
Taking active measures to understand and engage with social influences can position a business favourably within its societal context.
-
Businesses should regularly perform social scanning to monitor societal attitudes, norms, and trends, enabling them to identify and seize new opportunities or manage potential threats.
-
For instance, assessing public opinion via online platforms and adjusting business practices accordingly can be beneficial.
Section 6: Ethical Considerations
-
Ethical considerations reflect the moral principles and values in society, influencing business decisions and conduct.
-
Accounting for societal ethics can enhance relationships with consumers, employees, and stakeholders, improving business image and reputation.
-
For example, a business seen as contributing to society, whether through philanthropy or sustainable practices, is often well-received by the public.