External and Internal Factors that affect Business

What are the internal factors that affect business

• Leadership

  Communication

  Costs

• Costs

  Taxes

  Technology

• Labour

  Finance

  Technology

• Workforce

  Competition

  time

Which of the following are external factors that can influence a business?

• Management style

  Company culture

  Employee skills

• Market trends

  Legal regulations

  Economic conditions

• Internal communication

  Operational processes

  Financial resources

• Product quality

  Customer service

  Branding

What role does technology play in business operations?

• Decreases operational costs

  Slows down production

  Reduces market reach

• Enhances communication

  Increases efficiency

  Limits innovation

• Improves product quality

  Expands market reach

  Increases operational costs

• Has no significant impact

  Reduces employee productivity

  Decreases market competition

How do market trends affect business strategy?

• They dictate the pricing strategy

  Influence product development

  Have no impact

• Limit the target market

  Reduce competition

  Decrease sales

• Influence marketing strategies

  Guide product development

  Impact investment decisions

• Are irrelevant to business planning

  Strengthen brand loyalty

  Increase operational costs

A competitive environment is a system where different businesses compete with each other by using various marketing channels, promotional strategies, pricing methods, etc.

• YES

• NO

How does social media marketing impact consumer behavior?

• Increases brand awareness and influences purchase decisions

  Decreases the effectiveness of traditional advertising

  Has no significant impact on consumer behavior

• Reduces overall sales

  Limits market reach

  Enhances traditional advertising effectiveness

• Creates unrealistic consumer expectations

  Decreases brand loyalty

  Increases market competition

• Is only effective for younger demographics

  Does not influence purchase decisions

  Decreases brand awareness

What is the significance of supply chain management in business operations?

• Reduces operational flexibility

  Increases production costs

  Decreases customer satisfaction

• Improves efficiency and reduces costs

  Enhances product quality

  Increases customer satisfaction

• Has no significant impact on business operations

  Decreases market reach

  Slows down production

• Limits innovation

  Increases dependency on suppliers

  Reduces market competition

How do economic conditions affect business growth?

• Stimulate investment in new technologies

  Increase market competition

  Have no impact on business growth

• Decrease consumer spending

  Reduce investment opportunities

  Limit business expansion

• Influence business strategy

  Affect consumer confidence

  Impact investment decisions

• Are irrelevant to business operations

  Enhance employee productivity

  Increase operational costs

How does customer feedback influence product innovation?

• Leads to product discontinuation

  Has no significant impact

  Decreases market competition

• Guides improvements and new features

  Reduces the need for market research

  Increases customer loyalty

• Increases production costs

  Slows down product development

  Reduces brand awareness

• Is only considered for digital products

  Decreases operational efficiency

  Has no impact on product pricing

What impact do global economic policies have on local businesses?

• Decrease export opportunities

  Increase local competition

  Have no impact on local businesses

• Stimulate local investment

  Reduce import costs

  Limit market expansion

• Influence pricing strategies

  Affect supply chain logistics

  Impact hiring practices

• Are irrelevant to business operations

  Enhance employee productivity

  Decrease operational costs