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Questions and Answers
Which of the following is NOT an external factor that can influence a business?
Which of the following is NOT an external factor that can influence a business?
- Competitors
- Local communities
- Suppliers
- Employees (correct)
What is one of the learning outcomes of this unit?
What is one of the learning outcomes of this unit?
- Understand how businesses can respond to external factors
- Understand the reasons why particular decisions are made
- Understand how financial and performance information can help a business plan for success (correct)
- Understand how businesses are structured
What is the purpose of this unit?
What is the purpose of this unit?
- To learn about different types of businesses
- To understand how different functions work together within a business
- To learn about the reasons why particular decisions are made (correct)
- To understand how businesses are run
What is one of the topics covered in this unit?
What is one of the topics covered in this unit?
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What is one of the ways businesses can remain competitive?
What is one of the ways businesses can remain competitive?
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Study Notes
External Factors Influencing Business
- Government policies and regulations are external factors that can influence a business.
- Economic conditions, such as inflation and unemployment, are external factors that can influence a business.
- Social and cultural changes, such as shifts in consumer behavior, are external factors that can influence a business.
- Technology advancements, such as digital transformations, are external factors that can influence a business.
- The option not listed is NOT an external factor that can influence a business.
Learning Outcomes
- One of the learning outcomes of this unit is to understand the external factors that can influence a business.
Unit Purpose
- The purpose of this unit is to understand the external factors that impact business operations and decision-making.
Unit Topics
- One of the topics covered in this unit is the analysis of external factors that influence business.
Remain Competitive
- One of the ways businesses can remain competitive is by adapting to changes in the external environment.
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Description
Test your knowledge on the business environment and how it influences decision-making in this quiz. Learn about the various factors that impact businesses, including suppliers, competitors, government, and more.
