External enviroment Flashcards
PESTEL
Politics - taxation
Economics - interest rates/ economic grown
Social and demographic - Attitudes tastes, income distr
Technology
Enviroment
Legal - regulation/ employement
Impact the external enviroment has on an industry
Porters Diamond
Factor conditions - staff, knowledge, physical resources, infrastrcuture, capital
Demand conditions - How firms are perceived
Supporting industries - related industries create clusters which facilitate knowledge
Strategy - access to capital. ST/ LT investment
Structure - national culture
Rivalry - domestic competition leads to innovation
Females dont really suck sexy sausages
Feature of a country that provide a bsuiness with a competive advantage
Chinese manufactoring/ German card
Porter 5 forces
Barriers to entry
Supplier power
Customer power
substitutes
Looks at how competitve an industry is
