Contents Non Financial factors in Business....................................................................................................3 REFERENCES................................................................................................................................4
Non Financial factors in Business Business has to manage various factors and their impact so that they can manage their operations efficiently which can be both financial and non financial. The common non financial factors that have impact on the performance of the organisation are given below: Management and the structure of the company: On the basis of the structure the roles, responsibilities and authorities are allocated among different people (Erasmus, 2016). The efficiency of the management and the structure has impact on the business as with this they can determine the capabilities of the employees and accordingly can allocate them the roles.For Example: Structure determine the level of management with the help of which decision making can be facilitated as per their roles and understanding. Potential growth: The growth of the company is dependent upon various external factors such as the conditions of the market, level of competition, government policies etc. With the help of analysis of all these, potential and opportunity for the growth of the business canbeidentified(BlockandLandgraf,2016).Forexample:Withtheprevailing technology in the market the organisation can determine the changes that they need to incorporate in their business operations. Internal human factor: For the organisation it is important to take into consideration the impact of their human factors as they can resist for any change within the organisation or implementation of any policy due to which the performance of the organisation can be influenced (Rozenbaha, 2017).For example: Demotivated employees can lead to fall in the productivity of the employees.
REFERENCES Books and Journal Block, J.H. and Landgraf, A., 2016. Transition from part-time entrepreneurship to full-time entrepreneurship:theroleoffinancialandnon-financialmotives.International entrepreneurship and management journal.12(1). pp.259-282. Erasmus, B., Strydom, J.W. and Rudansky-Kloppers, S. eds., 2016.Introduction to business management. Oxford University Press Southern Africa. Rozenbaha,I.,2017,September.FINANCIALANDNON-FINANCIALFACTORS AFFECTING SOLVENCY: A THEORY REVIEW. InEconomic Science for Rural Development Conference Proceedings(No. 46).