Lesson 1 -infuences Flashcards
1
Q
What 4 things make up the internal environment
A
Marketing
Finance
Operations
Human resources
2
Q
What happens within the internal environment?
A
Businesses are divided into different functional areas so that specialists can work together
3
Q
What 6 things make up the external environment?
A
Technology
Globalisation
Legislation
The competitive environment
The economic climate
Ethical and environmental considerations
4
Q
What is the external environment?
A
Factors that affect a business and the decisions it makes that occur outside of the businesses control
5
Q
Can businesses influence their external environment?
A
No
6
Q
What does TELE stand for ?
A
Technological
Environmental
Legal
Economic
