External factors (1 Viewer)

[pheonix1995]

How can external factors effect a business? if so could you provide an example of a business?

 

[Shazer2]

Competitors are an external factor for businesses. For example, McDonalds and KFC are competitors, if KFC releases a new product it could effect McDonalds in a negative or positive aspect.

 

[qwerty44]

Sounds like homework to me.

Check your textbook, it's extremely straightforward.

External Factors are: economic, financial, geographic, social, legal, political, institutional, technological, competitive situation, markets

 

[pheonix1995]

thanks, i got it now