Business 1.5 Flashcards
What is a stakeholder
Pople with interest in the success or failure of an organisation
Examples of stakeholders
Owners
Shareholders
Staff
Local community
Government
Pressure groups
Competitors
Suppliers
What can often happen between stakeholders
Stakeholder conflict
Examples of technology used in business
E commerce
Social media
Digital communication
Payment system
3 examples of legislation
Trade description act
Consumer rights act
Equality act
Minimum wage
Date of trade descriptions act
1968
Date of consumer rights act
2015
Date of equality act
2010
4 stages of the economy
Boom
Recession
Slump
Recovery
What does the economy depend on
Supply and demand
Consumer confidence
Government
Global economy
Inflation
What do exchange rates effect
Weaker currency - Cheaper exports
Stronger currency - More expensive exports
Effect of interest rates increasing
Borrowing is more expensive
Saving gets more effective
External influences on business
Changes in technology
Changes in legislation
Changes in the economic climate
