The Remote Environment And The Environment

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The Remote Environment A company 's success is greatly influenced by factors that relate to its external environment. In order to increase financial success, an organization needs to understand the factors they may face, as well as adopting strategies to work with them. Success also lies in the ability to forecast change, while also understanding a company 's current existing factors. External factors that play a part in a business 's success or downfall are economic factors, social changes, political factors, technology, and ecological factors. Once all of these aspects are understood, a business can make the most of the factors they will encounter, to help them adapt to the ever growing global market. Changes in the Remote/External Environment of US Business Economic. Economic factors include all of the aspects concerning the economy and its condition. Some of these factors include: interest rates, availability of credit, policies regarding fiscal gain or loss, and foreign exchange rates ("The External Environment," n.d.). These aspects influence the direction of the economy, and how businesses can adapt to these changes. For example, the economic climate determines how consumers, suppliers, and stakeholders will behave within society. As a result, a growing economy will have low unemployment, higher spending and greater business confidence with stakeholders. In retrospective, an economy that is undergoing recession with have low spending powers, low confidence
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