External environment

Social, technological, economic, environmental, political, legal and ethical external factors.

• SWOT

• PEST

• STEEPLE

• PESTLE

Increase in the level of a country's Gross Domestic Product

• Geographical growth

• Ethics

• Political issue

• Economic growth

Six months (two quarters) of falling GDP (negative growth)

• Recession

• Economic growth

• Unemployment

• Exchange rate

The number of people in an economy willing and able to work who cannot find employment

• Recession

• Exchange rate

• Unemployment

• Economic Growth

The value of one currency in terms of another currency

• Money

• Exchange interest

• Economic growth

• Exchange rate

The use of electronic technology to gather, store, process and communicate information

• Information technology (IT)

• Information

• Technology

• Data

Changes in government spending levels and taxes rates

• inflation

• fiscal policy

• cost-push inflation

• demand-pull inflation

The rate of change in the average level of prices

• Inflation

• Cost-push inflation

• Demand-pull inflation

• Fiscal policy

Changes in the level of interest rates which make loan capital more or less expensive.

• Fiscal Policy

• Economic policy

• Monetary policy

• Environmental policy

If the government is constantly changing then this could lead to frequent changes in laws

• Government stability

• Political influences

• Ethical influences

• Government instability