Economical This refers to macro-economic factors that affect business organizations. Economic actors can range from big to small, from local to national to international, from current to future; Some example from the rising costs of raw materials to the market entry of a new rival, from the forthcoming Government Budget allocation to the instability of international exchange rates, from the current availability of investment funds to the likely future cash flow from a new product.
Business must constantly take such factors into account when devising and acting upon its business strategy. Social Social influences include changing cultures and demographics. This aspect of the business environment concerns social attitudes and values. The social/cultural environment also includes social trends, such as an increase in the average age of the population, or e,g, changes in attitudes towards seeking paid employment while bringing up small children.
Technological This refers to innovation such as the internet and the rise of new composite materials. MESA and is impact on banks especially Equity Bank strategy. Environmental This refers specifically to the green issues such as pollution and waste. Opportunities created for green energy. Legal This aspect embraces the legislative constraints or changes, such as health and after legislation or [example] restrictions on company mergers and acquisitions.