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Such external factors usually are beyond the firms control and sometimes present themselves as threats. I have chosen for my main focus the economical environment.
Economical
All businesses are affected by economical factors nationally and globally. Interest rate policy and fiscal policy will have to be set accordingly. Within the UK the climate of the economy dictates how consumer may behave within society. Whether an economy is in a boom, recession or recovery will also affect consumer confidence and behavior.
An economy which is booming is characterized by certain variables. Unemployment is low, job confidence is high, and because of this confidence spending by consumers is also high...
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