ap busi 1.3

business environment

the external conditions and forces that affect how businesses operate and complete

viability

a business’s ability to operate successfully sustainably over time

political factors

government actions, policies, and priorities that influence business activity

economic factors

conditions related to the overall performance of the economy that affect spending and business activity

social factors

culture trends, demographics, and societal attitudes that influence consumer behavior.

technological factors

change in technology that affect production, distribution, communication, or innovation

environmental factors

natural conditions and environmental concerns that influence business operations and demand

legal factors

laws and regulations that business must follow

demographics

statistical characteristics of a population such as age, income, education level, and location

automation

the use of technology to perform tasks with minimal human labor

intellectual property

legal protection for original ideas, inventions, and creative works