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EDEXCEL GCSE BUSINESS Topic 1.5 Understanding external influences on business COMPLETE 5 LESSON BUNDLE

This is a complete 5 lesson bundle to help teach the 1.5 GCSE Edexcel unit Topic 1.5 Understanding external influences on business. All 5 lessons are written by Sarah Hilton for Revisionstation and includes the following topics: 1.5.1 Business stakeholders Who business stakeholders are and their different objectives: ● shareholders (owners), employees, customers, managers, suppliers, local community, pressure groups, the government. Stakeholders and businesses: ● how stakeholders are affected by business activity ● how stakeholders impact business activity ● possible conflicts between stakeholder groups. 1.5.2 Technology and business Different types of technology used by business: ● e-commerce ● social media ● digital communication ● payment systems. How technology influences business activity in terms of: ● sales ● costs ● marketing mix. 1.5.3 Legislation and business The purpose of legislation: ● principles of consumer law: quality and consumer rights ● principles of employment law: recruitment, pay, discrimination and health and safety. The impact of legislation on businesses: ● cost ● consequences of meeting and not meeting these obligations. 1.5.4 The economy and business The impact of the economic climate on businesses: ● unemployment, changing levels of consumer income, inflation, changes in interest rates, government taxation, changes in exchange rates. 1.5.5 External influences The importance of external influences on business: ● possible responses by the business to changes in: technology, legislation, the economic climate.