Answer to Question #186997 in Marketing for Amahle

Question

 Using practical examples, explain to The Way & Grill managers how, in addition to the 

natural environment as evidenced by COVID-19, the restaurant industry might be 

affected by the economic environment, technological environment and political 

environment. (6 marks) 

Answer 1

Various factors in the political, economic, and technological environment may affect the company's growth prospects.

• Political environment - Political elements that may affect the company include labour law, tax policy, political stability, trade restrictions, environmental law, and tariffs.
• Economic elements - Interest rates, inflation rates , exchange rates, and economic growth
• Technological elements - Cybersecurity, engine efficiency, automation, internet connectivity.