Explain how external stakeholder objectives may conflict with the business objectives

Describe each stage of the business cycle

Describe how consumer confidence links to the business cycle

Explain how changes in consumer confidence can impact the business

Explain how a business can respond to changing consumer confidence

Define business confidence

Describe how business confidence links to the business cycle and consumer confidence

Explain the impact of changing interest rates on the business

Explain how the business can respond to the changing rates of interest

Describe the purpose of the Fair Trading Act

Explain the consequences for the business if they breach The Fair Trading Act

Explain what the business should do to comply with the Fair Trading Act

Explain the benefits of complying with the Consumer Guarantees Act

Explain the costs of complying with the Consumer Guarantees Act

Explain the short term impact of an environment influence on a buisness.

Explain the Maori business concept of Kaitiakitanga and how it relates to business

Describe competition

Define the term ‘market share’

Explain consequences of increased competition on a business

Explain the consequences of increased competition on the customer

Explain how a business can respond to increased competition

Explain how a business can differentiate themselves using a non price competition strategy.