External Factors And Their Effects On Organisations Essay

Businesses need to focus on external factors, as they are uncontrollable and impact each firm in an unexpected way. External Factors can affect the ability of a business or venture to accomplish its key objectives and destinations. These outside components may incorporate; Competition, social, legal, and technological changes, economic and political environment. This research paper will investigate external factors and their effects on organisations. The examination of the topic will be based upon precise research information, opening the negative effects of outer components. Climate change is a threat to businesses, and has been responsible for numerous setbacks impacting them. Its current effect on businesses include: expanding the danger of harm to buildings, interruptions to infrastructures, supply chains and causing loss of stock (Gledhill, Hamza-Goodacre, Ping 2015). Consequently, Moore (2011) stated that ‘In 2011 a ‘survey of almost 200 businesses revealed an average loss of $834,992 for businesses that had to stop trading as a direct result of flood damage or power loss.’ Revealing that climate change is threatening firms, including, agriculture companies. Because of climate change, droughts and heat waves have been responsible for the annihilation of 1/10 of crops, over the last 50 years (Puiu 2016). Climate change causes: agribusinesses and firms supplying them to lose profit. Additionally, Firms being supplied by the agriculture companies also lose cash,Show MoreRelatedCan Organisational Culture Be Changed?1376 Words   |  6 PagesQuestion: Can Organisational Culture be changed? 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