These external factors are political, economic, social, technological, legal, and environmental. From a business perspective, changes in these machinations can affect the fortunes of your company in several different ways, regardless of your size or reach. In modern society, politics can be defined as all those activities and systems which have a direct impact on how power and authority are allocated and used. Companies also study environmental, legal, ethical and demographical factors. Various aspects of government policy can influence companies because they must follow the law.
The political factors affecting business are often given a lot of importance. It is also known as PESTLE analysis. Some common factors are political, economic, social and technological (known as PEST analysis). The political factors affecting business are often given a lot of importance. The government and the political situation of a country are critical to analyzing while doing business. These political, economic, social, technological, environmental and competitive factors are represented by the acronym PESTEC. Nike has been very fortunate as the government of the United States have formulated such policies that will foster the growth of businesses.
Several … Political factors are the variables that directly affect business operations. Because even a slight change in political circumstances can make the business environment vulnerable. But political factors that affect businesses are given much importance.
Nike is a globally recognized athletic apparel, footwear, sports accessories and equipment. The most prevalent political factors relate to government activity and administrative practices of government. Some common factors are economic, social, technological, and political. Companies also study environmental, legal, ethical and demographical factors. Several … Companies must address the risk of political factors by making decisions that will reduce the external impact on the environment of business. Businesses can’t control external factors but must respond to them. Conducting a macro environment analysis, a good example of how political factors have affected a business can be associated with Nike. The political factors of any country can impact the business.
Some common factors are political, economic, social and technological (known as PEST analysis).
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