Business in Practice: Impact of Internal & External Factor Analysis

This essay examines the influence of internal and external factors on business practices. It defines both internal and external factors, highlighting political, economic, social, technological, legal, and environmental aspects as external influences, while strengths, weaknesses, opportunities, and threats are identified as internal considerations. The essay emphasizes the importance of recognizing these factors to achieve a competitive edge and profitability in the marketplace, particularly in the context of global business functions. The essay references academic works that further explore the impact of internal and external macroeconomic factors on firm performance and the resilience of populism in politics due to these factors.

Introduction
Internal and external factors means those component used by
an business organization to attain growth within particular
market. These factors are responsible for making set goals
and objectives achieved within more effective manner as per
time period specified.
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.
• Strength
• Weaknesses
• Opportunities
• Threats
References
Huy, D.T.N and et. al., 2021. Impacts of Internal and External Macroeconomic Factors on Firm Stock Price in an Expansion
Econometric model—A Case in Vietnam Real Estate Industry. In Data Science for Financial Econometrics (pp. 189-205).
Springer, Cham.
Lyudogovskii, P.L., Fedyaev, V.L. and Komkova, M.A., 2021. Influence of Internal and External Factors on the Geometry
Measurements by Using Laser Coordinate Measuring Systems Based on Trackers. Russian Aeronautics, 64(2), pp.322-329.
Monshipouri, M. and Dorraj, M., 2021. The Resilience of Populism in Iranian Politics: A Closer Look at the Nexus between
Internal and External Factors. The Middle East Journal, 75(2), pp.201-221.
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