Internal and external influences on business opportunities


To run successfully in the market, it is very important to know and understand the external and internal factors that have an impact on the growth and development of the company. After knowing the negative and positive effects internally and externally, the company would be able to produce suitable strategies in handling the situation. The examination of external and internal factors is said to be the most important task for a business to run effectively before the launch of any type of marketing plan. To develop a proper understanding of the environment, the step by step for the analysis of the elements individually of this term. The acknowledgment is given to the environment as per the surrounding conditions where the specific activity is carried on. As we know, business is said to be a social entity that is formed by the hierarchical structure where each important required documents and item are activated on their own to achieve the targets and goals. It is absolute that each factor externally or internally influences a business organization’s activities. To understand the variation of external and internal factors that depends on the type, size, and business status. The analysis of the key factors is categorized into internal environmental factors and external environmental factors.

Factors

  1. Quality

Quality is defined as meeting the standard requirements and expectations of the clients with respect and appropriate function. Assurance is defined as the positive impact and effect on a product or service which will provide confidence to the product and company ultimately. When it comes to using software for quality assurance you need to follow the steps to ensure the quality of the software-related products or services delivered to the clients by the company. Quality assurance focuses on the improvement part in developing software and qualifying them to meet certain criteria and standards. The importance of implementation of quality check assurance process is, it ensures the quality assured products, provide satisfaction to the clients and buyers, Deduce the cost of production, Resource conservation by proper utilization with given plans, Deduction in the cost of inspections, Increment in the growth rate of the company, Contributing to the morale increment in the employees, Developing good relations at the workplace, Improvement in the technologies and production methodologies, Impactful advertisements, Facilitating good price and Sales increment with quality assured products and services.

Life quality check

Planning: Company must do proper planning and establish the procedure with objectives followed by determining the process which can be adapt to deliver high-quality end products.

Implementing: developing testing methods to quality check and make changes as per the requirements.

Checking: Process monitoring, if required modification of processes and checking whether it’s matching the requirements and standards.

Action: Final implementation of the actions which are needed to reach the improvements in the procedure.

  1. Regular Inspection

Inspection is defined as an activity that is performed legally to check the quality of products and services provided by the industry and organization. It checks the product quality, manufacturing methods, ingredients, and other parts of quality check. The process includes round checks and inspections by the inspectors and group of authorities who go to the industry and visit every department where the production takes place with the final step of packaging and labeling and give feedback and a mark of approval to the products and services. This is important to ensure the quality of the products. No bad effect on human health, wildlife, and the environment. Regular inspections at companies and industries make sure to develop good quality products and services with no misleading of products which will satisfy customers with good quality products in a good range of amount.


Internal and external influences on business opportunities essay assignment help from top Quality Essay Writers


  1. Communicating with the stakeholders

Stakeholders are the individuals and organizations who give their active participation in a project. Their interests result either positively or negatively to the organization's growth and success rate. The role of the stakeholders in a project includes giving clarification who are the stakeholders involved in the project, discovering and aligning the expectations and impact of an individual on the project, outlining the requirements to the project progress and implementation, working on needs and expectations for risk management and its impact on the environment and planning of communication strategies.

  1. Health and safety risks

Health and well-being of the employees: the employees are considered to be the foremost asset of an organization to ensure their health benefits and wellness it is important to provide a healthy and disease-free environment at the workplace. There have to be immediate medical facilities along with medical insurance policy. Apart from physical well-being, you should also focus on the mental and emotional well-being of an employee to ensure this appropriate cell should be provided with good psychologists who can assist and give the best help and treatments to the employees. Occupational hazards: safety regulations are given for the safe functioning environment for the employees. Any type of sudden injury and mishap can be solved by the availability of an urgent first id box and other washing facilities. Other incidents include slips and falls which will require washing and cleaning these facilities should be available at the workplace. The implementation of new policies and processes and equipment's at the workplace to limit and control the risk exposure.

  1. Environmental risks

The impact on the environment: Concerning the changing of climatic conditions worldwide organizations are putting their effort to cause less damage to the environment with minimal activities impacting the environment. Ways in which organizations can cause less damage to the environment are using low carbon technologies. Despite traveling to different locations for attending meetings the employees can use the online platform to hold and attend such sessions. Natural calamities and disasters: Organization must be prepared for any type of unpredictable risks which includes any type of natural disaster. The team should work together and corporate security and recovery teams to find and develop any kind of emergency ready plan which can be implemented in the situation.

Risk management

Steps included in the risk management process are,

  1. Identification of risk: finding the risks which are found in the business. For example, risks related to legal activities risks related to the environment, regulation-related risks and risks in marketing, etc. To come to a solution to the problems occurring in an organization identification of the risk related to is the foremost step which is to be done.
  2. Analyzing the risk:Identification of risk should be followed by the analysis like what is the scope of the risk. Which will provide an evaluating parameter to it.
  3. Ranking the risk after the evaluation:Risks must be given with a rank and prioritize accordingly. The most affecting risk needs to be resolved first.
  4. Treating the risk:With a proper plan and execute strategies after a brief discussion with every hierarchy treatment of the risk should be done.
  5. Final review of the risk:it is not possible to eradicate every risk so, it important to review the risk encountered and keep a watch on all risk factors to make it easier for the next time to treat.

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