7.1.1.1 Taxation
External Influences on Business and Enterprise include taxes that businesses are required to pay. These taxes have a significant impact …
7.1.1.2 Economics
Gross Domestic Product (GDP) GDP is a measure of the economy in monetary value. It is a snapshot or capture …
7.1.1.3 Legislation
Changes to legislation (laws) can have a positive or negative impact on businesses. Employment Legislation Employment legislation governs the relationship …
7.1.1.4 Social
Changes in Fashions and Trends Businesses need to keep an eye of what is happening in terms of fashion and …
7.1.1.5 Technology
In today’s fast-paced world, technological advancements are a driving force that shapes the business landscape. Technology is frequently updated and …
7.1.1.6 Environmental
Business Impact on Climate Change Businesses play a significant role in shaping climate change through their operations, decisions, and practices. …
7.1.1.7 Competitive Environment
An important external influence that businesses must navigate is the competitive environment. This is the number of companies that operate …