External business enviroment factors?

1. Economic conditions: Factors such as inflation, interest rates, and overall economic growth can have a significant impact on a business's operations and profitability.

2. Political and legal factors: Government regulations, policies, and political stability can affect a business's ability to operate and make decisions.

3. Technological advancements: Rapid changes in technology can create opportunities for businesses to innovate and improve efficiency, but can also pose challenges in terms of keeping up with the latest trends.

4. Social and cultural factors: Changing consumer preferences, demographics, and societal values can influence a business's marketing strategies and product offerings.

5. Competitive landscape: The level of competition in the industry, as well as the actions of competitors, can impact a business's market share and profitability.

6. Environmental factors: Increasing awareness of environmental issues and regulations can affect how a business operates and its reputation among consumers.

7. Globalization: The interconnected nature of the global economy means that businesses must consider international markets, trade agreements, and geopolitical events when making strategic decisions.

Economic Factors:

- Economic growth or recession
- Interest rates
- Inflation or deflation
- Currency exchange rates
- Consumer spending patterns

Political Factors:

- Government policies and regulations
- Political stability or instability
- International relations
- Trade agreements and tariffs
- Tax laws

Social Factors:

- Demographic changes (e.g., age, income, education)
- Cultural norms and values
- Health trends
- Lifestyle preferences
- Consumer attitudes

Technological Factors:

- Advances in technology and innovation
- Automation and digitalization
- Internet and e-commerce trends
- Artificial intelligence (AI) and machine learning
- Technological obsolescence

Environmental Factors:

- Climate change and sustainability
- Environmental regulations
- Resource scarcity
- Natural disasters

Legal Factors:

- Laws relating to business operations
- Intellectual property rights
- Employment and labor regulations
- Antitrust and competition laws
- Tax codes

Competitive Factors:

- Number and size of competitors
- Market share and market position
- Competitive strategies and tactics
- Industry trends and dynamics

Other Factors:

- Global events and crises (e.g., pandemics, wars)
- Natural disasters
- Political or social unrest
- Consumer activism
- Supply chain disruptions
- Market volatility