External Factors: * Markets/customers * Economy * Socio demographics *Government/ political * Competition *Factors of production * Technology Internal Factors: *Customers are both external and internal factors *Workers/Employees are internal factors *Strategic Program Initiations *Training and Development Programs *Budget and Finance *Evaluations *Equipment Operations and Maintenance
Above are some of the major environmental factors, both internal and external that aid organizations/businesses in achieving daily optimal functioning in their operations. Other sources are government grants, private grants, indirect contributions, non-cash revenues and endowments.
The economy as a whole influences the market because the import/export business determines the county’s GNP. Socio-demographics usually stay steady in the United States for the majority and keep the environment influence at an even competition. Government and politicians always influence business depending whether a democrat or a republican is in office. Technology influences business by the different concepts available to your type of business at any given time.
Customers seek out the best product for the least expensive price. They seek to stay with the company with the reputable product. Workers influence the growth of the company by their reputation to produce quality and reputable work. Their earnings also, affect the growth rate of the company. Training and developmental programs help to promote the environmental factors of a company by ensuring the company that they will have quality trained workers to offer and thereby producing quality products. Evaluations promote a healthy and educated worker. Operations and maintenance of equipment in a workplace is essential to promote good and working equipment and quality products which promotes optimal functioning organizations as a whole.
A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/bea/an/nipaguid.pdf)
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