Question

Write about any three internal environmental factors of the business.

Answer 1

Values system:

•  The values of the owner (founder) of the business, percolate down to the entire organization.
•  External associates like suppliers and distributors consider the value system practiced by an organization with a strong culture of ethical standards and values.

1. Vision and objectives:
The vision and objectives of a business guide its operations and strategic decisions.

2. Management structure and nature:
The structure of management (Board) and their style of functioning, the professionalism of management, the composition of the board are the various factors that affect the decision making.

3. Human resource:
The success of an enterprise is solely dependent on the quality, skill competency, right attitude, and commitment of its human resources.