BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -External factors include opportunities and threats that are outside of the organization. These are factors that the company may be able influence-or at least anticipate-but not fully control. Examples of external factors include the following: Technology innovations and changes.

Detailed explanation-2: -Companies do not control the external factors that affect business operations and outcomes. These forces are known as the PEST factors, an acronym for political, economic, social, and technological factors.

Detailed explanation-3: -Examples of external threats include new and existing regulations, new and existing competitors, new technologies that may make your products or services obsolete, unstable political and legal systems in foreign markets, and economic downturns.

Detailed explanation-4: -Opportunities and threats are external-things that are going on outside your company, in the larger market. You can take advantage of opportunities and protect against threats, but you can’t change them. Examples include competitors, prices of raw materials, and customer shopping trends.

Detailed explanation-5: -Also, by definition, Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially no control. SWOT Analysis is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment.