Mastering External Business Analysis for Strategic Growth
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Analyzing External Factors Influencing Your Business
To effectively plan and develop your business, it's crucial to identify and assess the external variables that may influence its activity. This involves seeking information that can be helpful to your project, considering not only laws, rules, regulations, and measures, but also the broader political and economic situation, population trends, culture, and advancements in science and technology.
Key External Factors to Analyze (PESTEL Framework)
The primary types of external factors to analyze include:
Political Factors
Investigate government policy decisions that could significantly impact the business world and your future enterprise. This includes understanding political stability, trade policies,