3.3 External influences - Political, institutional, technological, competitive situation, markets

Question 1

What are political influences

Answer 1

Political influences refer to the decisions made by governments at all levels in Australia

Question 2

What are institutional influences

Answer 2

Institutional influences refer to the organisations that regulate business activity

Question 3

What are the three main institutional influences

Answer 3

• Government (federal state local)
• regulatory bodies (ACCC, EPA, ASIC)
• other groups (e.g. trade unions, ASX)