business 1.5 Flashcards
Social factors
Demographic changes are classified as a social factor.
Technological factors
The increasing use of mobile devices and internet technologies provides huge opportunities for businesses engaged in e-commerce.
Economic factors
The level of consumer confidence influences the level of demand in an economy.
Environmental factors
The depletion of renewable resource raises concerns about the sustainability of the business activity.
Political factors
Political instability due to regional conflict can be a major threat to business activity.
Legal factors
Businesses must meet certain legal standards that help to reduce any adverse effects from a company’s operations, corporate image and profits.
Ethical factors
Businesses need to consider the impact of their activity on society and the environment.
