List two influential forces that affect an organization and explain fully how any one of these forces affect the organization.
List two influential forces that affect an organization and explain fully how any one of these forces affect the organization.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
List two influential forces that affect an organization and explain fully how any one of these forces affect the organization.
Expert Solution
Introduction
Every organization is affected by some of the forces and factors. These factors can affect the organization internally or externally. Two types of forces and factors that affect the organization are-
- Internal Factors
- External Factors
The factors that affect an organization internally are called internal factors, and the factors that affect the organization externally are known as external factors.
External Factors
One of the factors that affect the organization is defined in detail as below:
External Factors
PESTLE analysis is used to study and define the external forces and factors that affect an organization.
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