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Environmental Scan - Report

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Added on  2021-04-16

Environmental Scan - Report

   Added on 2021-04-16

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Running Head: Environmental scan 1Environmental scan Report
Environmental Scan - Report_1
Environmental scan 2ContentsTypes of factors affecting environment...........................................................................................3Environmental factors affecting Australian business......................................................................3Environment exerting pressure........................................................................................................4Components of external business environment...............................................................................5References........................................................................................................................................6
Environmental Scan - Report_2
Environmental scan 3Types of factors affecting environment There are various factors that impact the environment in which the businesses operate. Those factors are as follows:Economic factors-These factors include economic policies and economic conditions that make economic environment of a country. These factors basically comprise of inflation, growth rate and restrictive trade practices etc. that have significant impact on the business (Qureshi, 2014).Social factors-These factors basically include the society including priorities and preferences of people. The choices and preferences comprise of buying and consumption pattern, purchasing power, educational background and beliefs of people etc. Political factors-Next factor is political factor which is related to the management of public affairs. These factors have significant impact on the business process in a country. There should be political stability in the country in order maintain sustainability in the trading process (PayPerVids, 2016).Technological factors-New trends in the technology are helpful in enhancing the marketability of the products. Along with this, it is also helpful in making the products and services more customers friendly. So, it is crucial for every business to keep in touch with the emerging technologies for sustaining the business in the long run. Environmental factors affecting Australian business In case of Australia, there are various external environmental factors that impact the business process in the country. It is crucial to analyze the environmental factors while doing the business in Australia. Those factors are discussed below:
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