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The external environment in which businesses operate can have a significant effect on their success. To what extent do you think that the external environments in markets are favorable for businesses at the moment? Justify your answer with reference to ex

The ‘external environment’ is the combination of factors that occur outside of the business. These include: political, economical, social, technological, legal and environmental factors. In terms of the exte...
AR
4326 Views

What is meant by organic growth of a business?

Organic growth is when a business is using its profits to expand naturally, without needing to turn to external forms of investment such as a bank loan.
MB
2758 Views

What is Customer Service and why is it important for a business?

Customer Service is a service given to customers before, during and after purchase to a standard thats meets customer needs. An example of good customer service is offerering advice pre sales, this would inv...
FF
8250 Views

What is the Supply?

The supply is the amount that sellers are willing and able to pay at different prices. The price is positively related to the quantity asked for the good. The supply curve is a graph of the relationship betw...
GG
3131 Views

What is a competitive market?

A competitive market is a market characterized by many buyers and many seller. The products sold by different producrs are homogeneous (similar) and therefore the buyers are "price takers": they mu...
GG
3031 Views