Business Chapter 13 External Factors

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