2760979
Description
Mind Map by aneesak1999, updated more than 1 year ago
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Created by aneesak1999
over 9 years ago
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External influences of a business
success
- business rivals
- can be a threat if their prices are lower
- can help to boost trade for everyone
- prices and quality to compete with
- can be a threat if their prices are lower
- industry
- may set out guidelines eg pollution
- may promote products for all businesses
- voluntary codes to abide by
- may set out guidelines eg pollution
- Government
- legislation may affect business costs
- can help to raise business confidence
- laws to abide by, agencies to
satisfy
- legislation may affect business costs
- global economy
- overseas markets more accessible via internet
- ups and downs in trade in a big economy can affect
everyone
- overseas markets more accessible via internet
- pressure groups
- can be a threat if they gain publicity
- demands for goods practice
- can be a boost if products seen to be good
- demands for goods practice
- can be a threat if they gain publicity
- customers
- demands for choice and quality to fulfil
- consumer tastes may change
- can stay loyal to a brand
- demands for choice and quality to fulfil
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