Adapting to External Influences: How Businesses Respond to Change

The video discusses how external influences such as technological, legislative, and economic changes impact businesses. It highlights the need for businesses to adapt to these changes, using examples like Uber, BBC, and Tesla. The video concludes by emphasizing that change, while often seen as negative, can also create opportunities for growth and evolution.

What are external influences and how do they affect businesses?

How did the COVID-19 pandemic serve as an external influence on businesses?

Discuss the impact of technological change on traditional cab companies due to the arrival of Uber.

What are some examples of external influences that can affect business strategy?

What strategic responses did businesses like the BBC and ITV have to make in response to streaming services?

Describe how Zoom had to adapt during the COVID-19 pandemic.

Explain how legislative changes, such as minimum wage laws, can force businesses to adapt.

How do changes in corporation tax rates influence business location decisions?

What economic changes did Tesla respond to by opening a factory in China?

In what ways can change be perceived as both a threat and an opportunity for businesses?