Homepage Accessibility links
BBC Account Notifications
More menu Search Bitesize Search Bitesize
BITESIZE
National 5 External factorsBusinesses can’t control external factors but must respond to them. These political, economic, social, technological, environmental and competitive factors are represented by the acronym PESTEC. Part of Business management Understanding business
video Videoquiz Test
External factorsBusinesses operate in an ever changing world. External factors are things outside a business that will have an impact on its success. Their impact can be positive or negative. A business cannot control external factors. All it can do is react to them and make decisions to help it remain successful. The acronym PESTEC is used to help remember the different types of external factors. These are:
Each of the external factors can affect a business positively or negatively. In some cases it can even be both.
National 5 Subjects
|