Unit 1.2.1 Internal + External Enviro Flashcards
1
Q
External environment
A
- All elements outside a business
- That can impact a business
- Has minimal control over
2
Q
Macro environment includes:
A
- Legal + gov regulations
- Societal attitudes + behaviour
- Economic conditions
- Technological considerations
- Global considerations
- CSR
3
Q
Operating environment includes:
A
- Customer needs + expetations
- Competitor’s behaviour
- Suppliers + supply chain
- Special interest groups
4
Q
Operating environment
A
- Factors which the business interacts with in conducting the business
- Often on a day-to-day basis
5
Q
Internal environment
A
- Factors within a business
- That a business has control over
- Affects how it operates
6
Q
The internal environment includes
A
- Types of business
- Types of business models
- Resource needs
- Location
- Sources of finance
- Support services
- Planning
- CSR
- Purchasing v establishing a business
7
Q
Planning
A
- Allows a business to carefully consider any factors that may affect it
- Provides clear direction to business
8
Q
Macro factors
A
- Social, legal, technological, global + economic conditions
- That a business operates in
9
Q
Operating factors
A
- Primary external factors
- Impacting a business
- Some control over
