Economic factors
Economic factors affect the
purchasing power of potential customers and the firm's cost of capital. The
following are examples of factors in the macroeconomy:
Ø economic growth
Ø interest rates
Ø exchange rates
Ø inflation rate
Social factors
Social factors include the
demographic and cultural aspects of the external macro environment. These
factors affect customer needs and the size of potential markets. Some social
factors include:
Ø health consciousness
Ø population growth rate
Ø age distribution
Ø career attitudes
Ø emphasis on safety
Social factors of Nokia
Nokia have
never really had any of these affect the way in which they operate because they
have never done anything that is really anti-environmental, the only problem is
the fact that the mobile phones let of radiation and has been said to increase
the risk of cancer in mobile phone users, but this has not been highly
documented and hasn't affected how Nokia have conducted themselves.
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