AP Business w/personal finance Unit 1 review

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9 Terms

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Business factor

External conditions and forces that affect how business compete and operate.

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Viability

the ability of a business to sustain itself and grow.

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PESTEL factors

are a framework for analyzing the external macro-environmental factors that impact an organization, including Political, Economic, Social, Technological, Environmental, and Legal aspects.

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Political factors

Government actions, policies, and priorities that influence businesses.

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Economic factors

Conditions related to the overall performance of the economy

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Social Factors

Cultural trends, demographics, and societal attitudes that influence customer behavior

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Technological factors

Changes in technology that effect production, distribution, communication, or innovation.

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Environmental factors

Natural conditions and environmental concerns that influence how businesses operate

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Legal factors

Legal laws and regulation businesses must follow