3.13 Flashcards

1
Q

change caused by internal factors

A
  • change in leadership/management often leads to further changes
  • better than expected performance could lead to a decision to expand
  • business growth can lead to other changes (expanding to international markets)
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2
Q

change caused by external factors

A
  • new technology means production can be faster or cheaper
  • change is consumer taste = change in product range
  • changes in competition could result in losing lots of market share
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