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Includes all the factors that are not business specific but they affect all business irrespective of their nature of operations however, their impact unusually depends on the nature of policy making activities and the personality of the different stakeholders.
The general environmental factors include the following
- Demographic changes
- Physical changes
- International factors
- Economical factors
There are a few challenges especially when managers are formulating policies
1. Global dynamics where nobody takes responsibility and nobody
2. Cost associates with scanning activities
3. Diversity and the nature of the stakeholders, variables considered
4. Problems associated with its impact on the business
5. Difficulties in developing equilibrium between business policies and general environment dynamics.
Titany answered the question on November 29, 2021 at 13:02
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