Intro to Business › Section A · Economic systems and business › Topic A.2
The business environment
No business operates in a vacuum. Interest rates, new laws, an ageing population, changing tastes, new technology, foreign rivals and natural disasters all reshape what a firm can do, so managers must keep reading the world around them and adapting.
In this topic
- Inside and outside the firm
- Seven sectors to watch
- Adapters, not usually agents
- Economic influences
- Political and legal influences
- Demographic factors
- Social factors
- Technology and productivity
- Worked example: measuring a productivity gain
- Worked example: scanning an e-bike maker's environment
- Common mistakes to avoid
- Key takeaways
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