External Factors

Question 1

What are the 6 external factors

Answer 1

Political
Economic
Social
Technological
Environmental
Competitive

Question 2

Political

Answer 2

Any changes made by the government
For example increases national living wage

Question 3

Economic

Answer 3

Any changes in the economy
For example a recession or boom

Question 4

Social

Answer 4

Any changes in taste of fashion
For example more people becoming vegan

Question 6

Technological

Answer 6

Any changes in technology
For example self service checkouts

Question 7

Environmental

Answer 7

Any changes in the environment
For example weather

Question 8

Competitive

Answer 8

Any changes made by competitors
For example decreasing their prices