Internal And External Factors Flashcards, test questions and answers

Discover flashcards, test exam answers, and assignments to help you learn more about Internal And External Factors and other subjects. Don’t miss the chance to use them for more effective college education. Use our database of questions and answers on Internal And External Factors and get quick solutions for your test.

What is Internal And External Factors?

Internal and external factors can have a profound impact on the success or failure of any organization. Internal factors are those that are within the control of the organization, such as its culture, values, policies, and practices. External factors, on the other hand, refer to those external to the organization but still influence its operations and objectives. Examples of external forces include economic conditions, political/legal environment, technological advancements, and competition.Internal factors play an important role in determining an organization’s performance and success. An organization’s culture influences employee morale and productivity which in turn affects performance outcomes. Values determine how resources are allocated within an organization; therefore, if values are aligned with organizational objectives they can help promote growth and stability. Policies are guides for decision-making by managers so it is important that they reflect organizational goals rather than individual preferences or values. Practices such as customer service or marketing will also affect how well a company succeeds in achieving its goals. All these internal elements can be modified by management to better align with desired outcomes; however, it is important to note that these changes often require time to become effective since they involve changing ingrained habits or behaviors among employees or customers who already have certain expectations of an organization’s operations. External forces can also shape how well an organization performs in achieving its objectives. Economic conditions such as recessions or economic booms will affect demand for products or services offered by a company so it is important to keep track of these changes in order to adjust strategies accordingly. The political/legal environment includes laws which govern business activities such as antitrust regulations; this affects how companies interact with each other as well as their ability to compete in certain markets depending on local regulations. Technological advancements can create new opportunities for businesses but may also disrupt existing industries; successful organizations must stay on top of industry trends so they do not get left behind by competitors who embrace new technologies more quickly than them .