The Wider Business Environment

Business decisions are influenced by what is going on in the wider economic environment In order to analyse changes taking place around businesses the following 4 factors are considered

Business decisions are influenced by what is going on in the wider economic environment

In order to analyse changes taking place around businesses the following 4 factors are considered

Political Factors The power of the government to bring in laws and regulations which will affect business eg the minimum wage

The power of the government to bring in laws and regulations which will affect business eg the minimum wage

Economic Changes The state of the economy of a country covering unemployment, inflation, taxation and interest rates

The state of the economy of a country covering unemployment, inflation, taxation and interest rates

Social Changes Changes which affect attitudes, lifestyles, fashions and values within a society

Changes which affect attitudes, lifestyles, fashions and values within a society

Technological Factors The way in which things are made and in the tools and equipment used eg the internet allows customers to shop worldwide

The way in which things are made and in the tools and equipment used eg the internet allows customers to shop worldwide