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Week 2 - Coggle Diagram
Week 2
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The Market
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Market growth
Causes for market growth include:
- Innovation
- Increased demand or population
- Changes in technology
Adapting to change
Business may need to adapt to change due to:
- Changes in the market trends
- Changes in technology
- Legislation
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Liquidity
Liquidity is the availablity of cash within a business - how easy a business can sell its assets in turn for cash
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Ways to improve liquidity:
- sales forecasting - allows for the business to see how much it needs to and can sell
- sell assets
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