Question

1) How do firm strategy, technology, investment, ethics, supply networks, production, markets, geography, and government affect the emergence of the organic cosmetics industry?

Answer 1

In the emergence of any organic comestic industry the role of firm strategies is quintessential because without a strong foundation any buliding will fall and wither away. So having a firm strategy helps the organisation in taking decisions under pressure and knowing the way to the future path and formulating future plans. Technology and investment is also an equally important part of setting up the organic cosmetic industry. High end technology helps the industry to manufacture products with precision and it also increase the profits. The machinery is a one time capital investment and thus helps in saving the wages from workers. Ethics is important for gaining support from the customers and gathering their confidence. Productions are the most important component because they are what go in the market. And the feedback of customers is based on the production. Geography matters a lot because the raw materials that are needed and the customers that buy them change drastically with geographical locations and it is difficult for an emerging company to take care of these factors. Government formulated the laws and regulations of a business to run upon and many certifications are needed from the government to run an organic comestic industry. If the government does not gives permission there is no way the company function smoothly.