734172
Descrição
Mapa Mental por Callum McCadden, atualizado more than 1 year ago
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Criado por Callum McCadden
quase 11 anos atrás
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Business Influences
- External Factors:
PESTEC
- Politcal
- Influenced by the government
- VAT
- Minimum Wage
- Health and Safety regulations
- VAT
- Influenced by the government
- Economic
- Influenced by how well the economy is doing
- Levels of employment
- If many are unemployed they will have less
expendable income meaning they will buy
cheap commodities instead of luxury ones
- If many are unemployed they will have less
expendable income meaning they will buy
cheap commodities instead of luxury ones
- Recession
- When a country has a low amount of money being spent on goods
and services. People spend less meaning less business.
- When a country has a low amount of money being spent on goods
and services. People spend less meaning less business.
- Interest Rates
- Set by Bank of England on how much it costs
to borrow money.
- Low encourages borrowing, spending and improves the economy
- High puts people off spending and encourages saving.
- Low encourages borrowing, spending and improves the economy
- Set by Bank of England on how much it costs
to borrow money.
- Levels of employment
- Influenced by how well the economy is doing
- Socio-cultural
- People's opinions, beliefs and
values influencing their purchasing
habits and power.
- Fashion can change very quickly affected related business.
- Business want to be seen to offer flexible working practices.
- People's opinions, beliefs and
values influencing their purchasing
habits and power.
- Envrionmental
- Weather affects business: Hot is good for ice cream parlours, Cold is good for warm clothing suppliers
- Business need to be environmentally
friendly to have a good repututation
- Increase recycling of waste products
- Reducing their carbon footprint
- Increase use of environmentally-friendly products
- Decreasing pollution
- Increase recycling of waste products
- Weather affects business: Hot is good for ice cream parlours, Cold is good for warm clothing suppliers
- Competetive
- Businesses need to consider competitors
- Competitors may be cheaper
- May offer a better quality product
- May be located better
- May offer more promotions
- Competitors may be cheaper
- Businesses need to consider competitors
- Technological
- Business must stick with the times
- Must purchase new technology or face being outdated: bad for reputation and business
- Business must stick with the times
- Politcal
- Internal Factors
- Financial
- Businesses need money to grow
- A wanted machine may not be affordable
- Staff can not be paid or more staff employed
- Advertising campaign can't be carried out
- Loans needed from a bank
- Raw materials can not be afforded
- A wanted machine may not be affordable
- Businesses need money to grow
- Human resources
- Poorly trained staff will not will not perform well
- Underpaid workers may take industrial action
- Motivated workers will work harder for longer
- Poorly trained staff will not will not perform well
- Current technology
- Investing money into current technology can give
business the edge over competitors
- Investing money into current technology can give
business the edge over competitors
- Financial
- Stakeholders
- Internal
- Owners
- Shareholders
- Employees
- Owners
- External
- Suppliers
- Local Community
- Local Government
- National Government
- Customers
- Banks
- Pressure Groups
- Suppliers
- Internal
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