Business Chapter 13 External Factors

Last updated about 1 year ago

1 question

Draggable item		Corresponding Item
Sustainable development		Features of a business environment that are outside the control of a business
Environmental factors		Process of constructing more and more buildings on rural land
Technological factors		Use of more machinery than labour during the production process
Social factors		These are influenced by changes in society e.g. increased consumer awareness, consumer tastes and fashions, changing lifestyles, women at work, part time worker
Political factors		These are influenced by changes in technology e.g. disruptive technologies like AI, new production processes, adoption of mobile technology
External factors		These are influenced by the government e.g. competition policy, industry regulation, government spending, taxation
Capital intensive		These are influenced by changes in the environment e.g. global warming, resource depletion, habitat destruction
Urbanisation		Meets the needs of the present without compromising the needs of future generations