BTEC - Internal / External factors

What can an enterprise do to try and manage external factors?

• Have a contingency plan

• Increase their price

• Go into liquidation

• Report the external factors to the police

Costs can go up or down – this is referred to as a _____

• start up cost

• fixed cost

• gross profit

• fluctuation.

_____ are all the elements that go into making products or offering services.

• External factors

• Raw materials

• Internal factors

• Economic conditions

When an enterprise borrows money, they will pay _____.

• VAT.

• corporation tax.

• an interest charge.

• the minimum wage.

If the interest rate goes up, an enterprise must _____

• pay more interest.

• pay higher VAT rates

• pay higher corporation tax rates.

• pay less interest.

The UK government often makes changes that have a _____________.

• minuscule impact on enterprises.

• positive impact on enterprises.

• negative impact on enterprises.

• positive or negative impact on enterprises.

What does the S in SWOT analysis stand for?

• Sales

• Strengths

• Service

• Sector

What does the W in SWOT analysis stand for?

• Weaknesses

• Wages

• Weighted

• Withdrawal

What does the O in SWOT analysis stand for?

• Optimistic

• Optional

• Opportunities

• Openness

What does the T in SWOT analysis stand for?

• Tastes

• Taxation

• Technological

• Threats