external factors

Definition

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.

Use external factors in a sentence

  • I wondered what the external factors were that were preventing us from reaching our full potential as a major company.

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  • There can be many external factors beyond your control that will decide whether a new project works out or not.

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  • Our business is suffering this quarter due to the following external factors: severe weather has reduced rice production, the cost of sugar has risen, and trade restrictions have been put into place in a few of our partner countries.

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