2a) Business planning & The business environment Flashcards
1
Q
What is the external environment?
A
The external environment consists of surrounding factors that can impact a business which a business has minimal control over.
2
Q
What are macro factors?
A
Macro factors are social, global, legal, technological and economic conditions that a business works within and has no control over
3
Q
What are operating factors?
A
Operating factors are the immediate external factors impacting a business which a business has some control over
4
Q
What is the internal environment?
A
The internal environment consists of factors within a business which a business has control over
