Answer to Question #264460 in Management for uti

Question

Identify at least 3 external factors and 3 internal factors that the companies need to reimagine given the changes that the pandemic created. Include a brief explanation/description of the factor.

Answer 1

External factors are influences, circumstances, or situations that a business cannot control and that influence the business owner's and stakeholders' business decisions. For example, if the government changes the laws governing the types and quantities of items that can be imported, and importation costs rise, your online business' profitability may be jeopardized.

Companies' culture can also be influenced by internal variables. Every family unit, corporation, or anywhere there is a group dynamic has an organizational culture. Understanding the variables that influence organizational culture might assist you in navigating connections in your daily life.