Discuss how the various segments of the General External Environment can influence business.

Demographic- composition of marketplace, expected changes, population changes, income distribution, age structure, etc.

Economic- standard of living, inflation, interest rates, energy prices, growth rate (GDP), threat of recession, job market, etc.

Political and Legal- laws, regulations, trade agreements, possible new regulations, outside group pressure on politicians (lobbyists)

Social and Cultural- social beliefs, values, customs, cultural groups, labor force participation rate,

Technological- rate of technological change, availability of technology, the impact of automation on workers and profits

Global- developing markets, global competition, cultures in other countries, unstable governments, war, terrorists

Sustainable Physical- what are the potential and actual changes in the physical environment, ecological, social, and economic systems and business practices (CSR)