Question

Discuss five environmental factors that affect your business. Explain the factors by listing down the reasons in points. Also, mention how personal selling will be helpful to improve your business. Should be written in 500 words and above. Should be submitted in word file and not in hand written format

Answer 1

Environmental factors are the identifiable elements within the economic, physical, cultural, demographic and technological and political environment which affect the working and growth of the business. Environmental factors can we both internal and external full stop the external factors include economic and technological factors and the internal factors shall include objectives value system and internal relationships of the organisation.

Whether large or small business all are affected by the internal organisational factors And external as well. The company shall have no control over its external environment. Developing strong marketing strategies include environmental factors so that the company shall get an accurate picture of the market trends and the market environment which can be presented Standing and status of the company.

The environmental factors which affect the business are as follows:

• Environmental policies: environmental policies considered the major external factors which can affect the strategy of business environmental policies are the commitments of a business two laws and regulations of the policy mechanism which are concerned with environmental problems. Environmental policies affect businesses because of the law which implies organisations should change their operational equipment and procedures to standards which can cost the organisations some monetary benefit.

• Climate change: climatic changes shall become introduced for business when it is taken into consideration. Due to the increasing issues of global warming and weather conditions in recent years, it is becoming difficult for companies to operate each type of weather condition accurately. Businesses which are directly dependent on the adequate water supply like agriculture and field sports shall be affected adversely due to the climatic changes.

• Green Agenda: the business-related activities affect the environment and the environment shall also affect the business and marketing environment full stop. The Enterprises have visualised that for achieving the business goals, the businesses need to think about the environmental-friendly policies in the organisation. The green agenda is a plan in which the enterprise shall manage its operations so that there is a minimum negative effect on the local environment overall. Sobbing environmentally responsible corporations shared device plans and procedures in their activities and operations that shall benefit the company and also the environment.

• Pollution: pollution shall cause some major and my mental issues that can destroy major supply chains or shall increase the cost of raw materials. the organisations shall monitor such events and develop contingency strategies for dealing with them.

• Availability of natural resources: among all the external environmental factors the availability of natural resources shall refer to the physical environment of the business. The natural resources are an essential factor for most businesses and many companies have natural resources as their main raw material. Scarcity of natural resources shall harm the organisations producing ability and its output.

• Recycling: the cost of dumping waste in the landfills is increasing day by day as a consequence of which not only is there a shortage of wastages but also so it provides harm to the environment. The recycled materials not only make the production process cost-effective but also so it helps the business for saving some money E for environmental purposes.

• Waste Disposal: there has been a positive trend for recycling of waste materials but there are several businesses That dumb wastage in landfills. this increases their cost of dumping waste and also it is harmful to the environment in which the business operates. organisations to meet the bottom line shelf first look at the less product wastage and use lesser resources that shall reduce their production cost while making Corporation sustainable.

Personal selling is a two-way communication which is an interactive form of selling that helps to build trust with the customers. It is the more possessive form of marketing. Directly selling the products to the customers help the organisation to reach the audience more which is not possible in any other form.