• Socioeconomic Factors are

characteristics that define the quality

of life in a society. They influence the
behaviors, attitudes, trends, taste and
lifestyles of individuals. In fact the
different class segments of the society-
that is, upper class, middle class and
lower class-are attribute to the
socioeconomic factors.
 Income

•Income is the amount of

money individuals earn from
their daily economic
activities, be it employment,
business or investments.
 Education
• Education equips members of the
society with the skills and
knowledge they require to be
employed in different jobs and
professions. The standards of
education in your society depend
on the availability and
accessibility of educational
amenities.
 Occupation
• Occupation refers to the type of jobs
people perform by virtue of their skills,
experiences or choice. You may be
self-employed or work as an employee
of an individual or organizational
entity.
• The different types of occupation
dedicate the income earned by
people in the society. And they are:
High-salaried individuals, and Self-
employed individuals.
 OTHER FACTORS:

1. ECONOMIC CONDITIONS
2. SOCIAL ENVIRONMENT
3. GOVERNMENT
4. ECONOMIC CHANGES
5. POLITICAL CHANGES
6. CHANGES IN TECHNOLOGY
7. ENVIRONMENTAL FACTORS
 Business Viability and Its Effect to the
Community

Viability is defined as the ability to survive

which in business sense is the financial
performance and position.
 A viable business has great effect to the
community. Some of these are:
• It provides a community jobs in the business
sector.
• It produces taxable income for the
community.
• Government continuously makes
Improvement in community infrastructure.
• It contributes more opportunities for the
people in terms of services.
• It helps in the establishments.
• It leads to improved business sevices to
community.
• It improves community life.
 Recommendations in Maximizing Positive Impact to
Community

* Divert a proportion of revenues to a good and

worthy cause for community development and
outreach programs.
* Find creative ways to improve the life of firms'
employees and community.
* Establishments of linkage between business and
community.
* Establishment of scholarship grants.
* Help build customer attraction, satisfaction and
loyalty.
* Reduce risks of negative publicity, boycotts, and a
tarnished public image.
* Improve product image, brand name and
reputation.
 Minimizing the Negative Impact on Business

1. First Things First: Get Your Act Together

- Identify the problem and correct it at an
operational or product development level.
2. Follow Up, Speak Up, Engage
- Engaging the aggrieved customer with a
timely, relevant, and contextual response that
seeks to provide the individual with both an
explanation and a resolution.
- Taking into account both spoken and
unspoken concerns of the user who provided
the feedback.
3. Let Time Runs Its Course
- Relying on the rules of recency
and encourage new customers
who have experienced
outstanding service or received
superior products to provide
their feedback.