Consider a business that you frequent (for example, a restuarant, grocery store, etc.) and review the...

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Psychology

Consider a business that you frequent (for example, arestuarant, grocery store, etc.) and review the six aspects of theexternal environment discussed in the text. Create a list offactors in the external environment that could affect themanagement of the business you selected.

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Outside influences that can impact a business Various external factors can impact the ability of a business or investment to achieve its strategic goals and objectives These external factors might include competition social legal and technological changes and the economic and political environment The global economy is one of the biggest external factors that will at some time affect your business Market fluctuations based on politics terrorism attacks wars and currency devaluation eventually trickle down to most commercial enterprises Interest rates the availability of credit and consumer loans are external factors you rarely can control See Answer

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