Seeing Entrepreneurially - Macroeconomic Change

18 important questions on Seeing Entrepreneurially - Macroeconomic Change

What does macroeconomics address?

The performance of a large economy and its vast number of influencing factors. Think big picture. 

Why are demographic and psychographic changes studied?

in order to better understand the forces behind customers' buying behaviors

What some areas that contribute to macroeconomic change? 

changes in technology, society, politics, regulations, and demographic and psychographic changes
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Examples of ___________  changes include an aging population, increasing ethnic diversity, and a society challenged by obesity. 

demographic

A shift in __________ or demand opens entrepreneurial opportunities within shifting demographic trends. 

perception

_____________ change examines shifts in attitude, values, opinions, interests, and related personal factors of markets.

Psychographic

Unlike demographic variables, psychographics involve how people _____ and ____. 

think, feel

Why are technical changes one of the most important triggers of change?

new technology allows for the expansion of new innovations

What are valuable and accessible tools for entrepreneurs who wish to explore the many areas of technical change?

blogs and websites that focus on industry news

What are some example areas of societal shifts?

new/changing interests, priorities, moralities or ethics, etc. 

_________ change can bring a variety of challenges and opportunities as it will influence business policy, taxation, corporate social responsibility, environmental issues, or consumer protection with your venture. 

Political

What are four examples of governmental regulatory changes that can affect your venture?

Managerial regulations, technology regulations, price regulations, and competitive regulations

__________ regulations governs what the operators of companies are allowed or not allowed to do.

Managerial

__________ regulations influence standards, interoperability, safety, and other related areas. 

Technology 

_____ regulations often dictate pricing strategies which support fair competition.

Price

___________ regulations, along with price regulations, are designed to protect consumer interests.

Competitive

____________ creates opportunities because it allows entrepreneurs to bring forward more ideas which might have otherwise been barred under a regulated market. 

Deregulation

Deregulation may reduce bureaucratic barriers and obstacles to creating ___  __________.

new businesses

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