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.

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Articles of Interest

Using SWOT Analysis to Develop a Marketing Strategy
Using SWOT Analysis to Develop a Marketing Strategy

SWOT analysis is a straightforward model that analyzes an organization’s strengths, weaknesses, op...

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The Price of Bad Financial Decisions for Small Businesses
The Price of Bad Financial Decisions for Small Businesses

Start-up companies and small businesses have always had a relatively large percentage of failures, w...

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How to Handle External Forces in Order to Maintain A Cohesive Workplace Environment
How to Handle External Forces in Order to Maintain A Cohesive Workplace Environment

External and internal forces create conflict for employees within the workplace. With a struggling e...

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5 Steps to Developing an Innovative Solution to a Problem
5 Steps to Developing an Innovative Solution to a Problem

In today’s marketplace, the practice of innovation isn’t just about creating new products. It’...

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