Summarize the following Key Concepts . Competition is organizations that offer similar products or services. Cultural forces are institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors. Demographics include the size, density, location, age, sex, race, and occupation of human populations. Economic forces are factors that affect consumer purchasing power and spending patterns.
Ecosystems are natural resources including animals and plants interrelated in the environment.
External environment includes all of the forces outside of an organization's boundaries that are not under the control of management. Globalization is viewing markets as part of a worldwide economy. Internal environment includes all of the elements within an organization's boundaries that under the control of management. Political and legal forces are the laws and government agencies that influence and limit various organizations and individuals in society. Technology is the combined effects of scientific discoveries, engineering applications, and inventions creating new product and market opportunities.