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Businesses need to be aware of their stakeholders. The activities of a business will affect many of their stakeholders. The stakeholders can also influence the decisions that a business makes.

The speed at which technology advances is getting faster. Businesses need to be aware of the technology that is available to them, and how it might influence their sales, costs and marketing.

The government uses legislation to regulate businesses’ behaviour and prevent them from exploiting people. There are laws to protect consumers who buy from businesses and workers employed by businesses.

The economic climate has a big impact on businesses. The level of consumer spending affects prices, investment decisions and the number of workers that businesses employ.

The world is an ever-changing place. While businesses may not be able to control changes in technology, laws or the economic climate, they do need to be aware that any such changes will affect them.