Some industries are especially subject to government regulation. An example would be the tobacco industry, the products of which have been shown to cause cancer.
The wider economy impacts all industries – some more than others. Producers of basic products like bread, milk and petroleum are not impacted as much by economic downturns as would be the case for industries that produce luxury goods or goods that consumers can delay purchasing.
Social change impacts all industries. Demographic changes like an ageing population are causing new industries and new opportunities to emerge. An example would be aged care, where entrepreneurs are asking new questions about the type of living environment that retired people want.
Technological change has a profound impact on some industries. An example could be the global music industry, whose whole business model was overturned by the digitalisation of content and, soon after, the sharing of content between users.
The global oil industry often operates in complex and unsavoury locations. Governments can restrict trade with certain countries through legislation, and this changing legislative environment is an important factor in planning in the oil industry.
The growing awareness that businesses that consume non-renewable resources without thought of the consequences are themselves unsustainable is an important them in strategic management planning.