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External environmental factors are uncontrollable variables beyond the control of the organization. They consist of 5 groups:

1. Social factors- demographic characteristics and values.

2. Economic factors- income, expenditures, and resources that affect the cost of running a business.

3. Technological- inventions and innovations from science or engineering

4. Competitive- competition in the area

5. Regulatory forces- restrictions, state and Federal Laws placed on business with regard to the conduct of its activities

6. International factors.

7. Natural factors.

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Angela Veum

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3y ago

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