Businesses operate in an external environment in which as well as competition from rivals businesses have to take account of legal, political, social and economic influences. A SLEPT (Social, Legal, Economic, Political, Technological) analysis is often carried out by business planners which enables them to develop more informed strategies (i.e. long term plans). Social factors – relate to change is society and social structures. Changes in the structure of the population, and in consumer lifestyles and behaviour affect buying patterns. Legal factors – relate to changes in…

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