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How do the social, economic, environmental, technological, legal and political environments impact your business?

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How do the social, economic, environmental, technological, legal and political environments impact your business?
posted Oct 5, 2017 by Amrita

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2 Answers

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Recent political and economic developments and associated changes in the practice and delivery of health and social care have led managers and professionals to recognize the importance and links between problem solving and decision-making skills. In particular, assessing the impact of political, economic, socio-cultural, environmental and other external influences upon health care policy, proposals and organisational programmers is becoming a recognizable stage of health service strategic development and planning mechanisms. Undertaking this form of strategic analysis therefore is to diagnose the key issues that the organisation needs to address.

answer Oct 6, 2017 by Sherlyn Mishra
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The social environment is very important part of any business. The employer should have to maintain the healthy environment with all the employees. Teamwork, leadership, job satisfaction, leadership are the factors which suffer socially impact on business. Business is all stands upon the economic condition of a business. Most of the time business affected by the economic environment conditions. Demand-supply, marginal and total utility, economic growth and development, trade cycle, market research, inflation, recession are the economic factors affecting business. Environment issues are very damaging to the business. Natural calamities, uncertainty, Inflation, demographic displacement, drought, and flood are the environmental issues which affect your business.
Legal formalities should follow by all the business. If there is found any incompletion in formalities, then you have to face the problems. You should have to complete all the documents related to your business. Formalities and contracts related to law and regulations should follow by the company. Technological issues have to face all the business. Integrated issues, backup and disaster recovery challenges, security risk, lack of strategic IT planning, frustrated users because of the technical issue are the factors which impact business. Political impact on any business is sometimes good or sometimes bad. Political issues like pressure, corruptions, permissions, recommendations etc are giving a negative impact which affects your business.

answer Oct 14, 2017 by anonymous