Internal and External Influences (AQA A-Level Business): Flashcards
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Practise the cards
10 cards from this deck
External influences definition
External influences definition
Factors outside business control affecting financial targets
Response to external influences
Response to external influences
Monitor and respond to them
HMV & Blockbuster failure example
HMV & Blockbuster failure example
Failed to adapt to downloading/streaming services
Recession impact on consumer spending
Recession impact on consumer spending
Consumer spending typically falls
Rising interest rates affect which businesses most?
Rising interest rates affect which businesses most?
High debt businesses & luxury item sellers
Political factor examples
Political factor examples
Min wage, legislation, environmental regs, tax changes
Technology's short vs long-term impact
Technology's short vs long-term impact
Substantial short-term costs, long-term benefits
Internal influences characteristic
Internal influences characteristic
More controllable than external factors
Financial objectives must align with
Financial objectives must align with
Corporate objectives
Operational capacity constraint effect
Operational capacity constraint effect
Creates ceiling on short-term achievement