What you’ll learn7 learning objectivesChoose one objective for a focused lesson, or study the complete topic.6.1.1Political and legal• Political and legal- the advantages and disadvantages of privatisation in a given situation- the advantages and disadvantages of nationalisation in a given situation- how a government might use the law to seek to control: employment practices, conditions of work (including health and safety), wage levels, marketing behaviour, competition, location decisions, particular goods and services- the impact of changes in political and legal factors on business and business decisionsSyllabus objective6.1.2Economic• Economic- how government might intervene to help businesses and encourage enterprise- how government might intervene to constrain business activity- how government might deal with market failure- the key macroeconomic objectives of governments: low unemployment, low inflation, economic growth- how macroeconomic objectives and performance of an economy can have an impact on business activity- government policies used to achieve macroeconomic objectives: monetary, fiscal, supply-side and exchange rate policies- the impact of changes in these government policies on business and business decisionsSyllabus objective6.1.3Social and demographic• Social and demographic- the impact of and issues associated with corporate social responsibility (CSR), e.g. accounting practices, paying incentives for the award of contracts, social auditing- why businesses need to consider the needs of the community including pressure groups- demographic changes at a local, national and global level- the impact of social and demographic change on business and business decisionsSyllabus objective6.1.4Technological• Technological- the impact of technological change on business and business decisionsSyllabus objective6.1.5Competitors and suppliers• Competitors and suppliers- the impact of competitors and suppliers on business and business decisionsSyllabus objective6.1.6International• International- the importance of international trading links and their impact on business and business decisions- how international trade agreements might have an impact on businesses- the role of technology in international trade- the advantages and disadvantages that a multinational might bring to a country- relationships between multinationals and governmentsSyllabus objective6.1.7Environmental• Environmental- how physical environmental issues might influence business behaviour- how a business and its stakeholders may use an environmental audit- the impact of the growing importance of sustainability on business and business decisionsSyllabus objective