How businesses may respond to changes in external environment

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Laws
Make sure they are following the laws so they do not get in trouble
1 of 5
Weather/climate
Invest in protective systems e.g. flood defense during heavy rain
2 of 5
Population
If the population in their area decreases they could relocate or open an online store to ensure they can reach lots of customers
3 of 5
Consumer trends
Keep up to date with trends and follow them to ensure they attract customers
4 of 5
Competitors
Keep up to date with what competitors are doing and try to create better products/services to attract more customers than their competitors
5 of 5

Other cards in this set

Card 2

Front

Invest in protective systems e.g. flood defense during heavy rain

Back

Weather/climate

Card 3

Front

If the population in their area decreases they could relocate or open an online store to ensure they can reach lots of customers

Back

Preview of the back of card 3

Card 4

Front

Keep up to date with trends and follow them to ensure they attract customers

Back

Preview of the back of card 4

Card 5

Front

Keep up to date with what competitors are doing and try to create better products/services to attract more customers than their competitors

Back

Preview of the back of card 5

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