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External factorsExternal factors Businesses cant control external factors but must respond to them. These political, economic, social, technological, environmental and competitive factors are represented by the acronym PESTEC.
External factorsExternal factors These political, economic, social, technological, environmental and competitive factors are represented by the acronym PESTEC.
There are five main types of external factors affecting business: Political factors. Economic factors. Social factors. Technological factors. Environmental factors. Competitive factors.
Internal factors include values, mission/objectives, organizational structure, culture and management style, Human Resources, labor unions, and physical and technological resources.
In life, you have to deal with both external and internal factors. External factors include other people, the economy, the weather, social issues, politics, and technology. Internal factors include attitude, mindset, self-talk, and emotions.
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The common external environment factors that businesses should consider are political, economic, social and cultural, legal, technological, and environmental/natural.
Internal influences include: desires, likes, dislikes, personal values, and perceptions of social norms.

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