- Political, e.g. government support, membership of trading communities such as the European Union.
- Economic, fiscal, monetary and other government policies, e.g. supply side policy, economic growth, exchange rates.
- Social attitudes to saving, spending and debt; social responsibility requirements; change, e.g. to demographic trends, consumers’ tastes/preferences. Technological change, e.g. automation, improved communications. Environmental factors and ethical trends, e.g. carbon emissions, waste, recycling, D1 Different market structures pollution.
- Legal environment, e.g. partnership legislation, companies acts, charities legislation, competition legislation, UK Corporate Governance Code, financial services regulation, industry regulators, government departments.
(Statutes and regulations current at the time of teaching should be used. Outline understanding only is expected.)
Online resources: PESTLE - Power-point-presentation
Online resources: External Environment - Power-point-presentation
- Corporate culture.
- Corporate social responsibility (CSR).
- Ethics.
Online resources:: Internal Environment -Power-point-presentation
Online resources: Internal Environment -SWOT -Power-point-presentation
- Competition (local, national and international).
- Factors influencing competitive advantage, e.g. differentiation, pricing policies, market leadership, reputation, market share, cost control, technology relationships with customers, suppliers, employees.
- Benefits and importance of establishing and maintaining a competitive advantage.
Online resources: Competitive environment- Power-point-presentation
Online resources: Competitive environment- Porter 5 Forces - Power-point-presentation
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