The Role Of External And External Influences On Business

1122 Words5 Pages
In order for a business to achieve their goals, it is important for them to respond to internal and/or external influences. A business goal is an outcome in which a business hopes to accomplish within a specific time frame. External and internal influences both play a role in helping a business achieve their goals. External influences such as social and competitive situations are outside influences that impact a business and internal influences such as product and resources are factors that affect a business from within. In order for businesses to achieve their goals they, therefore, must respond to theses influences by enforcing strategies. This is clearly demonstrated in both Coke and Samsung’s journey to achieve their goals. Competitive situations are an external influence in which businesses have competitors that they must sustain an advantage over. This can be positive for a business due to it encouraging them to be innovative and create a variety of choices for consumers to buy. As a result of this innovation business are able to increase their profits. However, innovation to maintain a competitive advantage can also lead to negative results. This is due to the possibility of consumers not liking the new product ideas and therefore not spending their money on the business products. It is important for businesses to respond to these competitive situations by maintain their competitive advantage so that they are able to continue keeping their business popular and

More about The Role Of External And External Influences On Business

Open Document