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Influences on Business - Deep Dive 4: Adapting to the Economic Climate
Manage episode 458971169 series 3628695
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Episode 4: Adapting to the Economic Climate
In this episode of PEELC Strategy Productions, we explore how the economic climate shapes business decisions and customer behaviour. From changes in income to unemployment, businesses face a range of external challenges that require strategic adaptation to stay competitive.
We examine how economic factors influence customer spending and discuss the advantages and disadvantages of unemployment for businesses. Plus, we dive into a real-world example of Greggs, the UK bakery chain, showcasing how they successfully adapted to rising costs and reduced consumer confidence.
In this episode, you’ll learn:
- The key factors affecting customer spending.
- How businesses adapt to unemployment and changes in income.
- Strategies Greggs used to thrive during tough economic conditions.
Tune in to discover how businesses can stay resilient in challenging times and prepare for what’s ahead. Don’t forget to test your knowledge with our quiz at the end!
Credits: Audio and AI assistance powered by Google Notebook LM.
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