nature of business Flashcards
1
Q
How will technological change effect a business?
A
The rapid changing of tech (eg changing the way we shop/buy - Airbnb)
2
Q
How will economic change effect a business?
A
the costs of borrowing money from banks (interest rate) going up due to inflation. Any economic changes that will effect the way a business is run
3
Q
How will legal change effect a business?
A
New laws and legislations may effect costs (eg insisting on a minimum wage for employees) or demand for products (banning of tobacco advertising)
4
Q
How will environmental change effect a business?
A
market constantly interested in impact of businesses on the environment. business find ways to be renewable and eco-friendly to appeal to market
