Exploring Business Activity P5

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Exploring Business Activity P5

* Describe how three external factors are impacting upon the business activities of the selected organisations and their stakeholders.

I will see therefore that the businesses environment consists of all those things outside the businesses. The businesses need to keep a watchful eye on the environment because it is continually changing, to assist in this process they might use PEST analysis.

Political factors: Have a huge influence upon the regulation of businesses, and the spending power of consumers and other businesses. Political factors: include legal aspects (e.g. Microsoft copyright), the general political ethos.

Economic factors: Marketers need to consider the state of a trading economy in the short and long-terms. This is especially true when planning for international marketing. to look at: Economic factors include the effect of the economy (e.g. Interest rates) on individuals, and on organisations.

Social factors: The social and cultural influences on business vary from country to country. It is very important that such factors are considered. Factors include demographic change (e.g. Oxfam is concerned of changes in proportion of age groups and educational changes.), other changes in social habits (where people go to