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 classic external shock: Rolls-Royce saw its airline engine servicing revenue collapse overnight as global flights stopped, forcing a £2bn emergency fundraise.
Exam Focus
When evaluating shocks, distinguish short-term disruption from long-term structural change to show higher-level analysis.
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