2. political and legal

1. 
   Explain the importance of the economic environment to business and identify the factors used to evaluate the performance of an economic system.
   

Every person who is going to start business regardless its type or size should have knowledge about economic environment that has important effect to business. Understanding the importance of the business environment will help to seek more business opportunities. there is a close and continuous interaction between the business and its environment. Also, it is this interaction which helps strengthen the firm and use its resources effectively.
Businesses cannot be operated in a vacuum but rather in a dynamic environment that has a direct influence on how they operate and whether they will achieve their objectives. This external business environment is composed of numerous outside organizations and forces that we can group into seven key subenvironments:
1.economic;
2.political and legal;
3.demographic;
4.social;
5.competitiv;
6.global;
7.technological.
Each of these sectors creates a unique set of challenges and opportunities for businesses.

2. 
   Identify a business which you would like to start in Uzbekistan and describe max.5 positive and 5 challenging aspects of the overall business environment which you see for this specific business.
   

If I have opportunity I would start business with perfumery and cosmetics.
5 positive aspects:

• 
  Most consumers are women and they change their perfumes and cosmetics rapidly
  
• 
  It can be produced in an affordable price for everyone
  
• 
  It can cover not only women but also men, children and people with old age.
  
• 
  It can be beneficial to develop our local market
  
• 
  The factory can provide people with job
  

5 challenging aspects:

• 
  Entering the market with own product
  
• 
  Compete with another brands
  
• 
  Chemicals that are used in production can damage environment
  
• 
  Getting high quality in production
  
• 
  Attracting consumers with product and introducing them
  

3. 
   How could Digitalization support your business idea? Discuss about three aspects.
   

• 
  makes it easier to advertise the products and attract with consumers for example on Internet;
  
• 
  Improvement of the product (or service): its quality, attractiveness, ease of use, delivery;
  
• 
  new ways of communicating with customers. Email, apps, social networks…
  

4. 
   List the three messages of the Session 1 which you see as the most interesting for yourself
   

• 
  Digitalization of business is the requirement of global market
  
• 
  Degrees of competition and conditions for perfect competition
  
• 
  Factors of economic environment and its importance