business environments Flashcards
1
Q
external environment - macro factors
A
ever changing, no control over
eg. politics, legal, social, economical, technological
2
Q
internal environment- internal factors
A
some control
eg. employees
3
Q
external environment - operating factors
A
customers, supplies, competitors, interest groups
4
Q
importance of business planning
A
provides a clear direction, the environment is unpredictable and ever changing. important to understand the impacts of conditions as they can negatively or positively effect a business.
