1.5 Understanding external infl Flashcards
Stakeholders
All groups with an interest in the success or failure of a business
Pressure groups
Organisations formed to put forward a point of view, such as organic farming
E-commerce
Selling online rather than a physical one-to-one transaction. Includes M-commerce – selling using apps and mobile phones rather than websites/PCs
Social meadia
Interactive channels of communication, via words, photos or videos, such as blogs, Facebook and Instagram
Digital communication
Messages or conversations conducted via email, text or social media
Payment systems
Ways of paying electronically such as PayPal
Legislation
Laws passed aby acts of parliament; breaking these laws may result in a fine or even a prison sentence
Consumer law
Acts of Parliament that are intended to protect customers from misleading or dangerous practices by companies
Consumer rights
Laws that empower the consumer to demand certain minimum standards from every business supplier
Consumer spending
The total spent by all shoppers throughout the country
Exports
Goods produced in one country but sold overseas, for example, a British –made Mini sold in France
Economic climate
the measure of the current economic outlook, which might be promising or worrying
Consumer incomes
The amount households have available to spend after incomes taxes have been deducted
Taxation
Charges places on goods and the incomes of individual and companies
Inflation
The rate of increase in the average price level
