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Business Studies

Analysing the external environment: the political environment

TermDefinition
Enterprise The skill needed to make a new idea work.
Innovation The successful exploitation of new ideas.
Regulation The enforcement of principles or rules that result from the passing of a law or series of laws.
Financial services Any products which are financial in nature and include those supplied by banks, insurance companies and financial advisers.
Privatisation The process of transferring organisations from state ownership to that of the private sector (i.e. individuals and other businesses).
Monopoly Exists when there is a single supplier within a market.
Infrastructure Refers to the physical and organisational structure required to allow both society and an economy to operative effectively, e.g. transport and communication networks.
Globalisation The trend for many markets to become worldwide in scope.
Created by: adele199