Factors Affecting Businesses

What factors do you think affect businesses?

• Economic conditions

• Government regulations

• Market demand

• Technological advances

Think about how businesses operate, advances in technology and the way we live our lives. Can you separate these factors into different categories?

• Yes, into economic, technological, and lifestyle categories

• No, they are all interconnected and cannot be separated

• Yes, but only into two categories: technology and lifestyle

• No, because businesses do not influence technology or lifestyle

What do they have in common?

• They are all prime numbers

• They are all European countries

• They all won Nobel Prizes

• They are all elements on the periodic table

PESTLE: Can you identify TWO factors for each of the PESTLE external factors?

• Political: Government policies, Political stability; Economic: Economic growth, Interest rates

• Social: Cultural aspects, Health consciousness; Technological: Innovation, Automation

• Legal: Employment laws, Consumer protection; Environmental: Climate, Recycling policies

• All of the above

What external changes have seen in the past few years that have affected businesses?

• Technological advancements

• Global economic fluctuations

• Changes in consumer behavior

• All of the above

Why do you think these changes have occurred?

• Due to technological advancements

• Changes in consumer behavior

• Economic shifts

• All of the above

How have these changes affected you?

• Positively

• Negatively

• No change

• Not sure

What are the aims of the current government?

• To improve healthcare and education

• To reduce taxes

• To increase military spending

• None of the above

Is there likely to be a general election or local election in the future?

• Yes, within the next year

• Yes, within the next two years

• Yes, but in more than two years

• No, there are no elections planned

What impact will a change in local and national government have on businesses?

• Positive impact, leading to more favorable business policies

• Negative impact, leading to stricter regulations

• No significant impact

• Varies depending on the nature of the business and the specific changes in government