AOS 3 BUSINESS - external environment

Macro factors abriviation

LSETGC

macro LSETGC factors

• legal/government regulations

• societal attitudes

• economic conditions

• technological considerations

• global considerations

• corporate social responsibility

Operating factors abriviation

CCSI

Operating CCSI factors

• customers

• competitors

• suppliers

• interest groups

How much control does a business have over macro factors?

No control

How much control does a business have over operating factors?

little control

external environment

the macro and operating factors that a business has little to no control over

environmental legislation

laws in place to protect the environment from actions a business may take

council regulations

laws relating to businesses in their local area

industry regulations

particular laws and regulations relating to the specific industry the business is in

industry regulations examples

• Australia securities and investments commission (ASIC)

• Australian business number (ABN)

• Australian business license and information service

employment laws and regulations

laws in place to govern the relationship between employers and employees

examples of employment law issues

• correct pay

• break times

• break areas

• health and safety

an employment law act

the equal opportunity act 2010

taxation requirements

the payments to the government a businesses must adhere to

taxation requirements examples

goods and service tax (GST)

societal attitudes

the shared ideas and beliefs that a community hold

Trend

what is popular at a certain point in time

interest rates

the cost of borrowing money displayed in a percentage

employment levels

the number of people working in the economy

tax rates

the amount of money that the government collects from a business as a percentage of its income or value of a good, service or asset

key taxes for businesses

• income tax

• company tax

• goods and service tax

• payroll tax

consumer confidence

the degree of optimism or pessimism consumers have about the economy or their own financial situation