geographical influences

• → Examples of geographic influences on a business include:

  → Effects the climate, natural rescources, topography, physical infrastructure and location have on a business/business enterprise
• → Demography: the study of particular features of the population including age, sex, income and family size (changes in any of these factors can lead to changes in demand levels and the nature of products and services)

  → Specific example (age): the age structure of our population turning to the ‘greying’ of Australia leading to skill shortages in the workforce and a deman for age-related services 
• → Globalisation: the process that sees people, goods, money and ideas moving around the world faster and more cheaply than before 

  Impacts of Globalisation on Business:

  → Reducing the barries that are actively limiting free movement of business, trade, investment and labour across national borders 

  → Increased competition

  → Expanded markets 

  → Greater customer expectations

  → Diversification and cheaper materials