Internal Factors: Forces occurring within an organization that can impact overall performance. These typically arise from the employees and operations inside the company.
External Factors: Forces occurring outside of the organization's control that can influence its performance and that of its members.
Importance of Understanding Factors
Both internal and external factors can pose threats or weaknesses that lead to significant financial issues and damage to reputation.
Conversely, when managed effectively, these factors can present strengths and opportunities for growth and advantage.
Examples of Internal Factors
Value Proposition: What the company promises to deliver to customers.
Human Resources: Employee dynamics and management.
Financial Resources: Availability and management of funds.
Marketing Resources: Strategies and tools for reaching customers.
Physical Assets: Tangible assets owned by the organization.
Labor Management: How employees are organized and supervised.
Interpersonal Relationships: Interactions and relations among employees.
Corporate Image and Brand Equity: Public perception and value of the brand.
Operations: Day-to-day processes and workflows.
Examples of External Factors
Input or Suppliers: Availability of necessary resources and materials.
Competitors: Rival businesses in the market.
Customers: Target audience and their preferences.
Public Eye: General public perception and scrutiny.
Marketing and Media: Influence of advertising and media coverage.
Social Influences: Societal trends and movements impacting business.
Call to Action
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