What you will be learning next

Next week, you will explore the effect of the external environment on a business and examine how political, economic, social and technological factors might influence a firm’s strategy.

We will look at:

• The PEST model
• The drivers for globalisation
• The two types of institutions: informal and formal

Your task

To prepare for next week’s learning, reflect on your own practice and make some notes on how these topics relate to your own experiences.