Business Essentials (Unit 2)

1. External Environment of a Business

1.1. 1) Changes to the economy

1.2. 2) Threats from competitors

1.3. 3) Political factors

1.4. 4) Government regulations

1.5. 5) The industry itself

2. SWOT Analysis

2.1. S: Strength

2.2. W: Weakness

2.3. O: Opportunities

2.4. T: Threats

3. Globalisation

3.1. Positive Effects

3.1.1. 1) Better Products

3.1.2. 2) Security

3.2. Negative Effects

3.2.1. 1) Environmental Damage

3.2.2. 2) Fluctuation in prices

3.2.3. 3) Job insecurity

4. Internal Environment of a Business

4.1. 1) Owners and Shareholders

4.2. 2) Board of Directors

4.3. 3)Employees

4.4. 4)Organisational Culture

4.5. 5)Resources of Organization

4.6. 6) Organization's image/goodwill

5. PEST Analysis

5.1. P: Political

5.2. E: Economic

5.3. S: Social

5.4. T: Technological

6. Key Agencies Impacting Business Environment

6.1. 1) Economic Development Board (EDB)

6.2. 2) Monetary Authority of Singapore (MAS)

6.3. 3) Ministry of Trade and Industry (MTI)