Business in Practice

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The internal as well as external factors has affects the
working ability as with this success and failure also get
encompassed with adequateness. It is also be considered
with better adaptable under which different criteria are
analyses that affect business performance and
productivity that is as explained below as:
 Economic conditions: It consist of employment
trends and rate, interest rate, income trends is
considered that affect both buying and purchasing
power of customers under which profit ratio of
business also get effect on direct basis.
 Environmental factors: It relates with consumers as
for this business get analyses all the relative
information of market and implies various strategies
to manage and attain long term sustainability.
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REFERENCES
Damanpour, F., Sanchez‐Henriquez, F. and Chiu, H.H.,
2018. Internal and external sources and the
adoption of innovations in organizations.
British Journal of Management. 29(4).
pp.712-730.
Prajogo, D. and et. al., 2018. The relationships between
information management, process
management and operational performance:
Internal and external contexts. International
Journal of Production Economics. 199. pp.95-
103.
Internal factors
 Mission: It processed fundamental working as
with this suitable level of contribution towards
success and its advancement is processed on
continuous basis.
 Communication: It robust working practice in
which each individual communicates with
others in improvised manner under which
sustained level of clarity and transparency in
working is progressed systematically.
External factors
 Customers: These are those who is always be
basis for organization growth and it is mandatory
that business get manage all the preferences of
customers in timely frame.
 Competitors: These are always be essential for
business to consider its competitors as with this
strategies formulation is processed to maintain
long term sustainability with perfection.
The consideration of external environment is required to
process and considered different factors that basically
involve clear success under which both opportunities and
threat get analyzed within timely frame. In this all the
different situation get control and measure that has direct
impact over ability to accomplish business target and
objective. There are different ways that impact upon
external environment that is as explained below as:
Business in practice
INTRODUCTION External and internal factors effect a specific business