External Factors of New Zealand Business
Table of Contents
Introduction: ............................................................................................................................................. 2 Economic Analysis of external factors: ..................................................................................................... 3 Neutralizing External Factors .................................................................................................................... 6 Conclusion ................................................................................................................................................. 6
2
Introduction:
There are many factors that affect business success. One factor which companies, unfortunately, cannot control, consists of external factors. External factors – or the external environment, as it is collectively known – surround an organization can either inhibit success or create a supportive framework for company growth. Different external environment factors include customer demographics and satisfaction, business competition, national and international laws, and the availability of resources, technology and labor. Most of things are not controlled by the organization; they are completely independent factors that affect the prosperity of businesses. Globally, the economy has improved in the last several years; however, most countries are still considered to be in a recession, with unemployment rates remaining high. The resulting affect on New Zealand may be a decrease in tourism. Less individuals are capable of affording expensive trips to this distant islands, so the crucial tourism trade might be in for a tough blow. However, since the recession has started to lift, tourism has started to increase – with ongoing economic stimulus, it may be just as successful as it was in the past. New Zealand has always been a leader in sustainable business practices, and this trend is growing more popular with other businesses around
Introduction: ............................................................................................................................................. 2 Economic Analysis of external factors: ..................................................................................................... 3 Neutralizing External Factors .................................................................................................................... 6 Conclusion ................................................................................................................................................. 6
2
Introduction:
There are many factors that affect business success. One factor which companies, unfortunately, cannot control, consists of external factors. External factors – or the external environment, as it is collectively known – surround an organization can either inhibit success or create a supportive framework for company growth. Different external environment factors include customer demographics and satisfaction, business competition, national and international laws, and the availability of resources, technology and labor. Most of things are not controlled by the organization; they are completely independent factors that affect the prosperity of businesses. Globally, the economy has improved in the last several years; however, most countries are still considered to be in a recession, with unemployment rates remaining high. The resulting affect on New Zealand may be a decrease in tourism. Less individuals are capable of affording expensive trips to this distant islands, so the crucial tourism trade might be in for a tough blow. However, since the recession has started to lift, tourism has started to increase – with ongoing economic stimulus, it may be just as successful as it was in the past. New Zealand has always been a leader in sustainable business practices, and this trend is growing more popular with other businesses around