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1.2 Key factors influencing the business environment - Coggle Diagram
1.2 Key factors influencing the business environment
Political
Tax
If a government decides to increase taxes for businesses this may have a negative effect on a company's finances. This may lead to the company having less money to spend on new technology to help improve the business productivity, leading to lower wages for employees and may even lead to a company moving its headquarters.
War
Trade union strikes
Retirement Age
Emargo
Social
Religion
Social trends
Cultural trends
Cultural
Lifestyle
Environmental
Climate
Environmental policy
Climate change
Weather
Resource decline
Legal
GDPR
The GDPR (General Data Protection Regulations) affects every business that operates within the EU or has any customers in the EU. This regulation affects how businesses use, store, and update personal information. If any company is in breach of GDPR they could receive a fine from the authorities of the EU.
DPA
Health and Safety
WEEE
Minimum Wage
Technological
E-commerce
3D printing
Automation
VR
AI
Economical
Interest rates
Exchange rates
Inflation
Cost of living
Growth/decline