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As for external factors one of the external factors would be perhaps a new law that is given and affects directly or indirectly the business and that business needs to make some changes.

Social and economic factors are something that will arise in all businesses no matter how its organization might be structured. While some social and economic factors might be able to be evaded, depending on the business, there are some that are unavoidable. It is imperative that you make the effort to get familiar as possible with social factors as well as economic factors because these are key aspects that will affect a business. In order to identify what social and economic factors directly affect Burberry it is beneficial to briefly take the time to explore what these factors are, how they differ, then provide a few examples. Economic factors are defined in the business world as the set of fundamental information that affects a business

Changes in external forces translate into changes in consumer demand for both consumer products and services. The company must prioritize to determined which factors may have the most impact and influence to the business. These factors are Political, economical, sociological environmental, and legal. Many of these factors are linked together. For example political, government legislation affect the economic factors (for example increasing the VAT). There are many models that can be used to analyze the external environment. LoNGPEST analysis examines the impact of each factor in local, national, and global aspect in the organization. It will help to where the company needs to focus and most important factors to have a sustainable and profitability in a long run(Hassanien, Dale, & Clarke, 2010; Johnson, Scholes, & Whittington). JD Wetherspoon LoNGPEST factors analysis illustrated in table format (see table 2.1). Identifying the key drivers for change is necessarily, this are the high impact factors likely to

These factors include: attitude of people to work, family system, caste system, religion, education, marriage etc. (iii) Technological Environment: - A systematic application of scientific knowledge to practical task is known as technology. Everyday there has been vast changes in products, services, lifestyles and living conditions, these changes must be analysed by every business unit and should adapt these changes. (iv) Natural Environment: - It includes natural resources, weather, climatic conditions, port facilities, topographical factors such as soil, sea, rivers, rainfall etc. Every business unit must look for these factors before choosing the location for their business. (v) Demographic Environment :- It is a study of perspective of population i.e. its size, standard of living, growth rate, age-sex composition, family size, income level (upper level, middle level and lower level), education level etc. Every business unit must see these features of population and recongnise their various need and produce accordingly. (vi) International Environment: - It is particularly important for industries directly depending on import or exports. The factors that affect the business are:

factor are external issues which affect the growth of the company. Factors like the new government

The aim of this document is to conduct a literature study on How the External Environment Impacts a Specific Business. In the following section, Micro Environment will be discussed under the following headings. Demographic environment is first discussed, followed by the Economic environment, Natural environment, Technological environment, Political environment, Cultural environment and lastly, Micro environment (Firm/Suppliers/intermediaries/Customers/Competitors /Customer/Competitors/Public) is discussed.

The aim is to asses how exactly the factors influence business performance. There are many environmental influences; political, environmental, social, environmental, technological, legal and economic.

Firstly, exogenous factors over which the business has little control over. Secondly, the growth of the markets into which it sells. The competitive intensity of the business and the average profitability of the industry in which it operates is the final category.

The article then goes on to break down each of these factors into subcategories and from there he defines the impact each factor potentially has on a business. Just to name a few, Barnat (2005) defines one of the factors as political and regulatory forces which define any restrictions and mandatory guidelines that must be met in order for an organization to function legally. In terms of environment government tends to occupy both the macro-environment and operating environment. Because of this governments have a great amount of influence on an organization’s external environment in general and as such must be included as a major factor for any organization with long or short term plans.

Furthermore, little research has been done about how environmental factors influence new venture internationalisation, and more research is necessary to find out how these factors influence early internationalisation (Fernhaber, 2007). Environmental factors are factors that a firm cannot control, and that are part of the external environment they operate in (Zou and Stan, 1998). These factors can have a significant push and pull effect on new ventures to internationalise

Outside factors can influence the sustainability of a company regardless of the internal structure within the business. Some factors in the general environment that companies should be aware of include demographics, social, economic, political, and others. Understanding how each of these factors can impact the company allows management to make changes within the company for maximum success. At Tesla, the political, economic, and technological factors greatly impact the efficiency of the company.

Environmental factors are identifiable elements in the physical, cultural, demographic, economic, political, regulatory, and technological environment that affect the survival, operations, and growth of an organization. A global organization such as McDonalds has to take into consideration these environmental factors to continue to grow outside the borders of the United States. This paper will analyze global economic interdependence, the effect of trade practices and agreements, the influence of cultural differences, the effect of political systems, and the influence of international relations in relation to McDonalds. This paper will also analyze the importance

The business enviroment are all the factors that affect the business operations and stability. There are two types of business enviroment; the external and internal business enviroment. The external enviroment is unexpected and out of the control of the business because those are factors that the business does not have power to control. The internal enviroment of a business includes factors that are inside the business which ones affect the way of doing the operations inside of the business; however, the business has control over the internal enviroment factors. Both external and internal factors are equally important and the decision taken in each of them can affect the business positively or negatively.

The General Environment consists of factors that are external to a company 's operations. This can include: global, demographic, technological, economic, political and legal, physical, and socio-cultural factors. Each of these factors can impact a business in a number of different ways. They can impact how a company chooses to market its products, decide which markets are attractive or unattractive, it 's product innovations and expenditures, and how the company will consume energy. Analyzing Google 's general environment can provide insight into how the company makes its strategic decisions as well as how these different factors affect their activities and performance.

The financial performance of any business in the clothing retail industry depends on consumer confidence and levels of consumer spending, which is effected by the macroenvironmental factors. Those factors include economic, global, technological, demographic and political and legal forces.