GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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negative or unfavorable external factors that affect businesses and their level of competitiveness
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a specific group of consumers to whom a company aims the selling of its products or services
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a favorable, external factor companies cannot control
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items (materials) used in the production of a good
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negative, internal factors that a company can control
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Detailed explanation-1: -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-2: -Internal risks include personnel management, such as labor shortages or poor morale and technology issues, such as outdated software. External risks include economic slowdowns, leading to lower revenue as well as political risks from trade wars hurting international sales.
Detailed explanation-3: -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-4: -The economy, politics, competitors, customers, and even the weather are all uncontrollable factors that can influence an organization’s performance. This is in comparison to internal factors such as staff, company culture, processes, and finances, which all seem within your grasp.