5 Questions
Which of the following is NOT an external factor that can influence a business?
Employees
What is one of the learning outcomes of this unit?
Understand how financial and performance information can help a business plan for success
What is the purpose of this unit?
To learn about the reasons why particular decisions are made
What is one of the topics covered in this unit?
How businesses are structured
What is one of the ways businesses can remain competitive?
By understanding how financial and performance information can help a business plan for success
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.
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.
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