influences in the Business environment(external)

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Created by
Renika

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Cards (42)

  • External Environments → includes those factors over which the business has little control over
  •  Economic Cycle: refers to periods of economic growth (boom) and low growth (recession) in the economy (this cycle affects a consumers willingness and ability to spend)
    → Aggregate Demand: refers to total spending of all consumers in the economy 
  • diagram
  • CASE STUDY: COVID-19 RECESSION
    Businesses Negatively Affected:
    → Services                                  → Tourism
    → Transport services                  → Recreational + Cultural
    → Accommodation                        → Sporting Events
    → Performances                         → Cinema
    Businesses Positively Affected:
    → Online Retailers                     → Fitness Equipment 
    → Delivery Services                   → Cleaning Products
    → Streaming Services                  → Gaming
    → Online Platforms                    → Health Services 
    Streaming
  • Recessionary Cycle
  • boom cycle: