This factor makes it cheaper to do this kind of exchange of other countries to Colombia. TheGlobalEconomycom. TheGlobalEconomycom. Analyzing the tendencies of each factor, will … (2016). Oecdorg. The country has a strategic location and is positioned to capture the growth of its exports through its trade agreements". Eco-finanzascom.  Theglobaleconomycom. For example, one is that the demand for foreign goods decreases, while the products and services offered in Colombia become more attractive to the consumer because of the price difference , generating further economic growth and competitive organizations, boosting exports again. Economic forces refer to the nature and direction of the economy in which business operates. (2015). in Colombia there are two interest rate or passive uptake, is the rate paid by financial intermediaries to providers of resources attracted by money and short words represents the risk or the potential gain for the creditor, for our business as either it is essential to have in mind as they consider this factor as the value of money to be deposited to the creditor of that government tax. Retrieved 8 February, 2016, from http://www.tradingeconomics.com/colombia/gdp-growth , The services sector has had a growing progress in the economy not only in Colombia but in general all over the world, last century and beginning of this, the sector has been rising in the growth of the world economy basing on a simple concept that is to understand the point of view of the user, taking it as a key point to innovate and go continually growing as organization. The 10 most competitive Latin American economies, what we can infer from the chart is that the effectiveness of workers in Colombia is lower in comparison with other countries and that affects the competitiveness of the country. Of course, excessive lending and borrowing usually end up in financial crises but, in principle, credit availability is good for economic development”, have an availability of credit gives the engine to move forward, but we must use it by establishing a constant desire for savings. recovery, or prosperity), interest rate, stage of the “Colombia Bank credit to the private sector as percent of GDP: For that indicator, The World Bank provides data for Colombia from 1960 to 2014. (these graphics were taken from the web page of the Ministry of commerce, industry and tourism of Colombia: http://www.mincit.gov.co/publicaciones.php?id=47, Despite the fall in exports , on the side of Puerto Antioquia is expected that by 2019 Urabá will be a great attraction for investors, since the construction of the port will receive larger vessels, allowing the growth of the Colombian economy in terms export and import. The IPC (Índice de precio al consumidor) Concumer Price Index is the method how in Colombia the governmet is able to know the price fluctuation in services and goods. (2016). EXTERNAL ASSESSMENT:The Nature of an External Audit, Economic Forces, NATURE OF STRATEGIC MANAGEMENT:Interpretation, Strategy evaluation, KEY TERMS IN STRATEGIC MANAGEMENT:Adapting to change, Mission Statements, INTERNAL FACTORS & LONG TERM GOALS:Strategies, Annual Objectives, BENEFITS OF STRATEGIC MANAGEMENT:Non- financial Benefits, Nature of global competition. the economy in which business operates. Investopedia. As seen in the chart the dollar has been increasing its value against the Colombian peso since July of 2014, and is possible to predict that it will not be lower for at least one more year. Tradingeconomicscom. Tomado de: World economic fórum, http://reports.weforum.org/global-competitiveness-report-2015-2016/top-10-infographics/. Retrieved 8 February, 2016, from http://www.theglobaleconomy.com/Colombia/Bank_credit_to_the_private_sector/,  Root. Consumption patterns are one of the most important drivers of development patterns in the industrialized world and will serve as case for the study of scenarios and transition management. Income can be defined as a net increase of wealth, is any income that a person receives without diminishing its heritage and is used improperly to define my total income. Dinerocom. economic cycle, balance of payments, monetary policy, (2016). The shift to a service economy assumes that the set of processes in the integrated systems of an organization will be more personalized, contextual and participatory clearly defined customer preferences, using good strategies that create a link between the user and the organization. (2016). We would say these is the objective of any industry nowadays, due to the high competitiveness which had come, and which could come during the next years. However , for the year 2016, although the increase was 7% ( $ 589,454 ), the infalción was even greater with a percentage of 7.26 %. (these graphics were taken from the web page of the Ministry of commerce, industry and tourism of Colombia: Figura 1. It is the biggest growth rate in six periods. Oecdorg. For years and pronunciante in 2015 , FDI had dramatic falls of up to 42% because other countries do not see attractive trade due to lack of confidence in the market, avoiding investment, even in cases where the money is withdraw. Are those factors that are at the scenario where the organization performs, and affect either directly or indirectly the firm. The general Retrieved 8 February, 2016, from http://www.euromonitor.com/income-and-expenditure-colombia/report. local situation, an organization might seek information Retrieved 8 February, 2016, from,  Theglobaleconomycom. Retrieved 8 February, 2016, from http://www.inviertaencolombia.com.co/sectores/servicios.html,  Dinero. For the last 5 years the percentage change between each evaluated period has increased, leaving 2015 with a cumulative 6.77%. Involvement in the strategic-management … The general state of the economy (e.g., … Is clear that in the healthy industry is essential to know what are the tendencies of spending that people have, because we're talking about the body who are involved sociocultural traditions and trends in the habits of each person, and that in some cultures there are impediments regarding sociocultural factors. Are those factors that are at the scenario where the organization performs, and affect either directly or indirectly the firm. GDP Growth Rate in Colombia averaged 1.08 percent from 2001 until 2015, reaching an all time high of 3.50 percent in the second quarter of 2002 and a record low of -0.90 percent in the first quarter of 2002. It is about understanding the consumer need and desires, so that take a decision which will influence positively in the selling and production. The dollar has a high value in the Colombian market, what makes more complex for Colombians to work with imported goods and services, according to Trading Economics, during the last 12 months the dollar has gained 42.76, one year 1 dollar was about 2,378.10 Colombian pesos, now has reached 3.394,97. The impact of growth What the government raises are the taxes in order to do things that benefit (always) the community. Also, credits to individuals and businesses began to slow their growth, especially the one to households, which is what has prevented a further slowdown of the economy, while real rates of these loans were in constant decline. income, unemployment, and the transportation and Retrieved 8 February, 2016, from http://www.theglobaleconomy.com/Colombia/Bank_credit_to_the_private_sector/,  Theglobaleconomycom. It is measured in terms of perecentage and is very close related with the inflation. Figura 3.US dollar/Colombian pesos, interday chart, review of the last 5 years, update to February of 2016 taken in: Trading Economics, http://www.tradingeconomics.com/colombia/currency, how the dollar has increased its value in the Colombian market. have a tremendous impact on business firms. Healthy care's mission, apart of contributing on the health of the collage community of Bogota, is also to increase as much production as we can, in order to generate employment, increase de consumption, and finally obtaining profits. (2014). (2016). the effects of this outlook on wage rates, disposable IPC is the weighted sum of variation of the items. The state of world economy is most Portafoliocomco. What we want to achieve is to reach beyond what makes these people sedentary and have a kind of unhealthy lifestyle. state of the economy (e.g., depression, recession, Invierta en Colombia. (2016). concerning the economic base and future of the region and This situation should adjust the government, since for the lower social strata (1,2,3), which in some cases do not receive the minimum wage, prices of goods and services are unreachable. Such as Balanced Scorecard, Strategy Map, SWOT Analysis, PEST Model, Gap Planning, Red-Blue Ocean Strategy, Porter’s Five Forces Model, … Similarly, imports have decreased, but the relationship between imports and exports was broadly the same, greater imports than exports of products due the devaluation of the Colombian peso. Natalie McCullough. In Colombia 's minimum wage is set, is that certain amount of money received by people when a definite or indefinite contract is concluded. External forces affect the types of products developed, the nature of positioning and. Dinerocom. Looking forward, they estimated Inflation Rate in Colombia to stand at 5.17 in 12 months time. firstname.lastname@example.org | Av. profitability refers to my profit and like considers the remuneration of the money received by me or my organization, “This indicator also corresponds to the sum of wages and salaries, mixed income, net property income, net current transfers and social benefits other than social transfers in kind”. Taking into account the economy is changing, taxes, normally will be reduced. Even so, for others investors Colombia is one of the most atractive country in Latin America. Economic factors have a tremendous impact on business firms. For years and pronunciante in 2015 , FDI had dramatic falls of up to 42% because other countries do not see attractive trade due to lack of confidence in the market, avoiding investment, even in cases where the money is withdraw. Devaluation is a factor that influences various economic aspects, one of which is in foreign direct and portfolio investment. Retrieved 8 February, 2016, from,  Procolombia. The 10 most competitive Latin American economies, what we can infer from the chart is that the effectiveness of workers in Colombia is lower in comparison with other countries and that affects the competitiveness of the country.
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