Topic 1 influences in the bussiness enviroment Flashcards
business prelims
what is an external influence
influences outside the control and operations of a bussiness
what is an internal influence
influences within the bussiness
list examples of external influences(3)
geographical
legal
technological
list examples of internal influences(3)
types of products sold
location
staffing
what do geographical factors refer to
the characteristics of the population
how do legal factors influence a bussiness
legal factors outline the rules and regulations that every business must follow.
how do technological factors influence a bussiness
can determine how your business is run and how efficient it is due to technology
how does the type of product sold influence the bussiness
what your business offers to the market
what does the location refer to
characteristics of an area
what does staffing determine
who is employed,how many are employed, training
what is a stakeholder
a stakeholder is someone who is affected by your bussiness
list some examples of stakeholders
competitors
shareholders
customers
