external factors Flashcards
1
Q
political
A
Legislation and regulations will ensure that a business needs to comply with the laws.
2
Q
economic
A
Factors such as inflation, recession/boom periods, along with changes to interest rates can affect organisations
3
Q
social
A
Social factors are the things that influence the habits and spending of customers.
4
Q
technological
A
Technological factors refer to the ways new practices and technology can affect businesses.
5
Q
Environmental
A
Environmental factors cover physical conditions such as climate change and weather. It also covers eco-friendly or ‘green’ objectives
6
Q
Competitive
A
Competitive factors cover how businesses who offer similar products or services affect each other.
