External Shock
Unexpected external event affecting economy/business: oil price spike, natural disaster, war, pandemic, financial crisis...
Real World
The COVID-19 pandemic in 2020 was a severe external shock that forced Primark — with no online sales — to lose an estimated £800 million in revenue during the first UK lockdown alone.
Exam Focus
Exam questions on external shocks reward candidates who distinguish between short-run disruption and long-run strategic adaptation — address both.
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