Factors affecting a Business

Internal Factors An internal factor is a strength or weakness in the organisation which affects how well that organisation can meet its objectives

FINANCE A business needs enough cash to pay for bills, wages and stock Money may need to be borrowed Money required for expansion or developing new products EMPLOYEES Quality and quantity of staff can affect the business Staff may lack skills or require training

MANAGEMENT Are managers skilled enough Can they make decisions, manage change, move the business forward Type of manager – autocratic, democratic, laissez faire TECHNOLOGY The type and quality of technology available Quality of production, communication, e-commerce, apps