Elements of an external business environment

[Stardom22]

Some of the elements of an external business environment includes; political, economical, social-cultural economical and technological factors that affect the operations of the business.

 

[flower]

The economical elements of external sources of a business is most important because they are factors that would affect the productivity of the company.

 

[Shavkat]

In my perspective, it can be affected with natural calamity that we cannot control them to happen. It can affect the operations and even the damages will come along with it.

 

[Niyi Briggs]

Of all the factors you mentioned there, I think the most important is the political factor. Policies and economic instability easily wrecks a business.

 

[Bisolami]

Of all the factors you mentioned there, I think the most important is the political factor. Policies and economic instability easily wrecks a business.

They wreck the business and this is why a business owner needs to be very smart so that they can play around those policies that may want to wreck their business.

 

[uptrendfinancialsignal]

The external factors that affect businesses are political sometimes and people who are associated with the politicians tend to make more money in businesses nowadays.

 

[Reedex]

External business environment has a lot to do with the productivity of the business.

 

[IB D]

They wreck the business and this is why a business owner needs to be very smart so that they can play around those policies that may want to wreck their business.

Not just playing around those political policies. Big Businesses should try as much as possible to influence the government to formulate policies that would favour them and the entire business sector.

 

[Bisolami]

Not just playing around those political policies. Big Businesses should try as much as possible to influence the government to formulate policies that would favour them and the entire business sector.

I think you have a point and that is why you see that some companies are very close to some government officials because they want to bypass some laws

 

[IB D]

I think you have a point and that is why you see that some companies are very close to some government officials because they want to bypass some laws

It is a smart business strategy. You have to ensure that someone cannot wake up one morning and pronounce a policy that would ruin your years of hardwork and investment. .

 

[cherry123]

Yesh the business terrain can be affected by a great elements of external business environmentsas you rightly mentioned they can be ipolitical, economical, social-cultural economical etc . business just need to learn how to overcome them

 

[Magnus2022]

Politics and economic stability is the two most important external factors that shapes business and its environment. Political instability kills business and makes the environment unstable and unfit for business.

 

[Niyi Briggs]

Market trends and consumer preferences are important factors that influence a business greatly especially in a perfect competition. The business is affected by the price fixing mechanism of demand and supply.

 

[Blessed19]

This has proven to affect the operation of businesses over the years now as we look at the year 2020 which was blighted by coronavirus businesses affected so many closed forever and some are still struggling to date to be at that level they were before.

 

[cherry123]

Economic stability is needed for a business to flourish and it seems like one of the most important external factors that always help to shapes business and its environment at all times

 

[Stardom22]

Of all the factors you mentioned there, I think the most important is the political factor. Policies and economic instability easily wrecks a business.

Absolutely my friend. I too thinks the same thing that the political stabilities affect the business most directly for sure. A place where there is poor political instabilities is likely to have low business activities than the others.

 

[Niyi Briggs]

Absolutely my friend. I too thinks the same thing that the political stabilities affect the business most directly for sure. A place where there is poor political instabilities is likely to have low business activities than the others.

Take for instance, Ukraine that is in crisis. There is no meaningful business that would be going on there at the moment all because of the volatility of the entire country. Political stability is important to a business person.

 

[cherry123]

External forces do affect the business most directly. This is why the business owners jedd to find out and keep them away from their businesses. A place where there is poor social security is likely to have low business activities

 

[capri]

Political factors existing in a business's external environment are highly important in that they influence the actions of an organization both inside a country and outside.
I think Huawei is critically aware of this fact, given that it has had to contend with multiple deleterious actions by global political players.