The document discusses various factors that affect businesses and industries, including socioeconomic factors. It mentions that an HHI below 100 indicates a highly competitive market, while an HHI above 1800 indicates a highly concentrated market. It also discusses the importance of scanning the external environment before creating or evaluating business plans. Social factors relate to patterns of behavior, tastes, and lifestyles that can influence consumers.
The document discusses various factors that affect businesses and industries, including socioeconomic factors. It mentions that an HHI below 100 indicates a highly competitive market, while an HHI above 1800 indicates a highly concentrated market. It also discusses the importance of scanning the external environment before creating or evaluating business plans. Social factors relate to patterns of behavior, tastes, and lifestyles that can influence consumers.
The document discusses various factors that affect businesses and industries, including socioeconomic factors. It mentions that an HHI below 100 indicates a highly competitive market, while an HHI above 1800 indicates a highly concentrated market. It also discusses the importance of scanning the external environment before creating or evaluating business plans. Social factors relate to patterns of behavior, tastes, and lifestyles that can influence consumers.
present without compromising the ability of future generations to meet their needs. IDENTIFICATION
5. It helps the proponent identify
markets are highly competitive and saturated and those markets with high market concentration. IDENTIFICATION
6. Define the quality of life in a
society. IDENTIFICATION
7. These relate to changes in government
influence. IDENTIFICATION
8. They influence the behaviours,
attitudes, trends, tastes and lifestyles of individuals. IDENTIFICATION
9. Social factors relate to pattern of behavior,
tastes, and lifestyles. IDENTIFICATION
10. Before creating business plans or
when evaluating existing ones it is important to ‘scan’ the external environment. IDENTIFICATION
11. Refers to the type of jobs people
perform by virtue of their skills, experiences or choices IDENTIFICATION 12. This is continually updating laws in a wide range of areas, such as consumer protection legislation, environmental legislation, health and safety and employment law, etc. IDENTIFICATION
13. This is particularly true in terms of
modern communication technologies. IDENTIFICATION
14. These include geographical location, the
climate, weather and other such factors that are not just limited to climatic conditions. IDENTIFICATION
15. The amount of money individuals earn
from their daily economic activities, be it employment, business or investments. ENUMERATION