Trends, or patterns of change, in the external business environment can create opportunities or threats for businesses. The Social environment includes social and demographic trends that affect consumer demand and, therefore, affect business success. The following are four trends in the Social environment in Canada. 1. More women working outside the home 2. Increasing number of people over age 65 3. Growing use of the Internet 4. Increasing cultural diversity Assess the impact of these trends on the following service businesses: Restaurant Telemarketing service Medical clinic Hair or beauty salon (Will the trend have a positive or negative effect on the demand for these services? How?)

Trends, or patterns of change, in the external business environment can create opportunities or threats for businesses. The Social environment includes social and demographic trends that affect consumer demand and, therefore, affect business success. The following are four trends in the Social environment in Canada. 1. More women working outside the home 2. Increasing number of people over age 65 3. Growing use of the Internet 4. Increasing cultural diversity Assess the impact of these trends on the following service businesses: Restaurant Telemarketing service Medical clinic Hair or beauty salon (Will the trend have a positive or negative effect on the demand for these services? How?)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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