external factors Flashcards
what are the external factors
political
economic
social
technological
environment
competeitive
what is the abbreviation for the external factors
PESTEC
what external factor includes laws/legislation passed by the government which can influence a business
political
what external factor includes anything which affects how much people are spending
economic
what external factor includes people’s changing values, beliefs and lifestyles
social
what external factor includes the technology the business is currently not using
Technological
what external factor includes the weather conditions, natural disasters and extent to which a business is environmentally friendly
Envrionment
what external factor includes the activities carried out by businesses which provide similar goods or services to one another
Competitive
