Organisations that support businesses through the provision of training and education programs, advice and information

The surrounding conditions in which the business operates. It can be divided into two broad categories: internal and external.

The ability of a business to develop strategies that ensure it has an ‘edge’ over competitors

Other businesses or individuals who offer rival, or competing, goods or services to the ones offered by the business

Managing a business in such a way that the broader social welfare of the community, including its employees, customers, suppliers and the environment, is taken into consideration when making business decisions

The people who purchase goods and services from a business, expecting high quality at competitive prices

The set of influences that relate to economic activity, including interest rates, wages, unemployment, exchange rates and inflation

Special interest groups that promote environmental issues to the public, government and businesses

The price of one country’s currency expressed in terms of another country’s currency

Those factors over which the business has little control. It may be further divided into two categories: operating and macro.

The effect of hi-tech communications, lower transport costs and unrestricted trade and financial flows turning the whole world into a single market, producing a more integrated global economic system

A broad-based tax of 10 per cent on the supply of most goods and services consumed in Australia

The price charged or paid for the use of money that has been deposited or borrowed

Sometimes called the micro environment, includes those factors over which the business has some degree of control

The broad conditions and trends in the economy and society within which a business operates

The practice of moving some of a business’s processes or services to the same or another business located overseas

Sometimes called the task environment, refers to the specific outside stakeholders with whom the business interacts in conducting its business

The groups of people who attempt to directly influence or persuade a business to adopt particular policies or procedures

Those businesses or individuals that supply the materials and other resources that the business needs to conduct its operations

The range of suppliers from which the business purchases materials and resources

The percentage of income or the value of a good, service or asset paid as tax

The economic, environmental and social performance of a business

Organisations formed by employees in an industry, trade or occupation to represent them in efforts to improve wages and working conditions

The multitude of individual differences that exist among people in the workplace