1. Human Power in the Organization is 1 point
the best example of which
environmental factors?
O Internal factors
O External Factors
O Economical Factors
Global Factors
Answers
Answer:
external factor is the best example of human power
To get a proper understanding of the business environment, we should step by step analyze individual elements of this term.
First of all, “environment” can be acknowledged as the surroundings or conditions in which a specific activity is carried on.
Secondly, because we know that a business firm is a social entity which is formed by a hierarchical structure where all necessary items of its own are activated together to reach the collective goal.
Therefore, it is absolutely that every factor inside or outside a business organization has a profound influence on business activities.
In other words, internal and external environment create a business environment.
The Importance of Business Environment Understanding
Because business environment inserts its impacts on business success, scale, vision, and development strategy, having fully understanding about this issue should be prioritized by leaders.
Once they know about both positive and negative effects within and outside the company, they can produce suitable strategies to handle any predicted and unpredicted situation.
Internal and External Factors - What are They?
First, you need to understand that there is a variation of internal and external factors depending on the size, type, and business status. However, you can find those key factors by analyzing the business environment using the following categories:
Internal Environment Factors
Definition
The internal factors refer to anything within the company and under the control of the company no matter whether they are tangible or intangible. These factors after being figured out are grouped into the strengths and weaknesses of the company. If one element brings positive effects to the company, it is considered as strength.
On the other hand, if a factor prevents the development of the company, it is a weakness. Within the company, there are numerous criteria need to be taken into consideration.