Impact of Internal and External Factors on Business in Practice

Introduction
External and internal environment is very important terms
within organisation because it provide significant impact on
operations of business that is used to lead the company to
gain high opportunity success
BUSINESS IN PRACTICE
External factors
External factors is defined as that extrinsic factor which
are not in a control of business and on the same way it
directly affect the organisation function.
• Political factors
• Economic factors
• Social factors
• Technological factors
• Legal factors
• Environment factor
Internal factors
Internal factors define several factors that are accumulated
with the companies and also it can be tangible and intangible
in context.
• Human resource
• Financial factor
• Management
References
Huntington, J., Gordon, P. and Plamping, D., 2018. Managing the Practice: whose business?. CRC Press.
Inoni, O.R., Salami, C.G.E. and Olannye, A.P., 2019. Effects of Internal and External Factors on Organizational Buying
Behaviour: A Review of Extant Literature. Izvestiya, (3), pp.216-237.
Karpenko, L. and et. al., 2019. Formation of the system of fair business practice of the company under conditions of
corporate responsibility. Academy of Strategic Management Journal. 18(2). pp.1-8.
How the company impacts
its context external
environment
In order to accomplish the competitive edge within market
place it is very important to recognise the internal and
external factors so that high success opportunities are
attained and accomplished so that profitability should be
cherished. In terms of Tesco, this company is focus on
business functions at global level.
Impact of internal and external factors

INTRODUCTION
Business practice includes finding and executing the most
effective ways of operating in effort to fulfill the
organization's objectives. The technique includes staying
current with the newest operational patterns in recognized
organizations and contrasting these to own ways of handling
each of these operations. Unilever is a multinational
consumer goods business headquartered in London, UK.
Unilever is a well-known customer merchandise company
which was formed in 1929 and has a worldwide presence.
BUSINESS IN PRACTICE
EXTERNAL ENVIRONMENT
ORGANISATION IMAPCT ON EXTERNAL ENVIRONMENT
To handle with changes, the firm needs continuously evaluate the
outside environment, evaluate alterations, and implement suitable
solutions. To properly deal with technological developments, the
organization's technology must be upgraded on a regular basis
(Guenole, Ferrar and Feinzig, 2017). Moreover, a company should
assure that it operates in a well-developed industry with a suitable
political atmosphere, all of which will support towards its
development and growth.
INTERNAL ENVIRONMENT
S: Working all around the world
(Kwartler, 2017).
W: Environment of competition
O: Western countries have a
large and diversified client base
T: COVID 19 pandemic
REFERENCE
Guenole, N., Ferrar, J. and Feinzig, S., 2017. The power of
people: Learn how successful organizations use workforce
analytics to improve business performance. FT Press.
Kreusel, N., Roth, N. and Brem, A., 2018. European
business venturing in times of digitisation-an analysis of for-
profit business incubators in a triple helix
context. International Journal of Technology
Management, 76(1-2), pp.104-136.
CONCLUSION
Based on this poster, it could conclude that internal and
external environmental factors have such an impact on the
business. This poster describes the internal and external
forces that impact the firm, and also an evaluation of the
company's impact on the external environment.
.
ORGANISATION IMAPCT ON EXTERNAL
ENVIRONMENT
P: Food and Drug Administration is subject to legislative
regulations imposed by the European Commission
E: Emerging nations like India and China have a lot of
opportunities for enhancements
S: The vast proportion of their advertisements are
accessible in many dialects
T: A substantial amount of funding may well be invested in
R&D for inventions
L: Harmful enterprises utilize other companies' intellectual
property rights as marketing elements to mislead customers
E: Minimize the amount of plastic in product packaging
(Oldman and Tomkins, 2018).
Kwartler, T., 2017. Text mining in practice with R. John Wiley &
Sons.
Oldman, A. and Tomkins, C., 2018. Cost management and its
interplay with business strategy and context. Routledge.
Sacolick, I., 2017. Driving Digital: The Leader's Guide to Business
Transformation Through Technology. Amacom