Businesses and the external environment Flashcards
(4 cards)
1
Q
What tool could you use to analyse the external factors affecting a business?
A
PESTLE analysis.
2
Q
What is meant by market conditions?
A
A wide range of factors affecting the market.
3
Q
What is seasonality?
A
Variations in supply and demand throughout the year.
4
Q
What external factor is not part of PESTLE analysis?
A
Competition.
