internal and external factors affecting business

Question 1

name all six external factors

Answer 1

political
economic
social
technological
environmental
competition
for short pestec

Question 2

how can politics effect a business

Answer 2

laws restrict what a business

such as the minimum wage law

Question 3

how can the environment effect a business

Answer 3

bad wether could spoil a crop or make delivery late

Question 4

how can society effect a business

Answer 4

people will be more aware of green issues so business will have to adapt to suit the new green needs of the consumer

Question 5

how can tech effect a business

Answer 5

if a place has no internet then the people who live there will be unable to shop online

Question 6

how can economics effect a business

Answer 6

if inflation or hyper inflation happen that it an brake a business meaning that the costs of goods and services will increase

Question 7

name all three internal factors

Answer 7

financial
human resources
current technology

Question 8

how dose finance effect a business

Answer 8

if a business dose’t make enough money they wouldn’t be able to hire experienced staff or buy more materials