BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Many external environmental factors can affect your business. Often managers have to carefully consider each of these factors. The goal is always to make better decisions for the growth of the business. Some of the common factors are political, economic, social and technological (known as PEST analysis).

Detailed explanation-2: -Political factors that affect businesses include taxation, employment laws, and political stability. They can impact a business positively or negatively by influencing how companies operate. One of the negative impacts is the introduction of risk.

Detailed explanation-3: -External environmental factors are the factors outside the organization that influence the business. These often include the social and cultural, natural environment, political, legal, technological, and economic factors.

Detailed explanation-4: -Governments can raise or lower corporation tax, which will impact on profits. They can also affect businesses by increasing value-added tax on products or business rates. They can bring in new laws like the National Minimum Wage, which impacts on profits and employment rights.

Detailed explanation-5: -External factors include political, economic, sociocultural, technological, environmental, and legal factors. Internal factors include things like values, management styles, Human Resources, technological and physical resources, and organizational structure.