INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
Question
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These factors determine the extent to which a government may influence the economy or a certain industry. For example, a government may impose a new tax or duty due to which entire revenue generating structures of organizations might change.
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Political
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Technological
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Globalization
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Socialization
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Explanation:
Detailed explanation-1: -Broadly speaking, political factors are those driven by government actions and policies.
Detailed explanation-2: -ECONOMIC: Economic factors will include exchange rates, economic growth or decline, globalisation, inflation, interest rates and the cost of living, labour costs and consumer spending.
Detailed explanation-3: -A PESTEL analysis is used to identify threats and weaknesses which are used in a SWOT analysis. Political factors include government policies, leadership, and change; foreign trade policies; internal political issues and trends; tax policy; regulation and de-regulation trends.
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