XBS Business Factors and Stakeholders

Vocabulary flashcards covering internal factors, stakeholder interests, and external factors impacting XBS.

Employees (Internal Factor)

An internal factor where XBS needs to make sure it has enough skilled and qualified staff to complete a new contract.

Finance (Internal Factor)

An internal factor where XBS should check that it has enough money to cover the costs of completing a new contract.

Resources (Internal Factor)

An internal factor where XBS needs to make sure it has the equipment and technology needed to complete the work for a new contract.

Employees (Stakeholder Interest)

As stakeholders, employees are interested in getting paid and having secure employment.

Customers/clients (Stakeholder Interest)

As stakeholders, customers/clients are interested in receiving a high-quality service that meets their needs.

Competition (External Factor)

An external factor where more competitors may mean XBS has to improve its services to attract customers, which means XBS may have to spend more money to stay competitive.

Technology (External Factor)

An external factor where new technology could help XBS work faster and provide better services, which means XBS may need to buy new equipment, increasing costs.

Economic factors (External Factor)

An external factor where if prices increase, XBS will have higher costs, which means XBS could make less profit.