External Factors in Business Management

What does the acronym PESTEC stand for?

• Political, Economic, Social, Technological, Environmental, Competitive

• Political, Environmental, Social, Technological, Economic, Competitive

• Political, Economic, Social, Technological, Environmental, Corporate

• Political, Economic, Social, Technological, Environmental, Commercial

Which of the following is an example of a political factor?

• Changes in taste and fashion

• Inflation

• Weather conditions

• New legislation

What is an example of an economic factor?

• Weather conditions

• Changes in taste and fashion

• Inflation

• New legislation

Which of the following is a social factor?

• Changes in taste and fashion

• Weather conditions

• Inflation

• New legislation

What is an example of a technological factor?

• Weather conditions

• Selling goods online

• Inflation

• New legislation

Which of the following is an environmental factor?

• New legislation

• Changes in taste and fashion

• Weather conditions

• Inflation

What is an example of a competitive factor?

• New legislation

• Inflation

• Changes in taste and fashion

• Impact of a rival firm

How can external factors affect a business?

• Positively

• Negatively

• Both positively and negatively

• None of the above