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Business influence refers to the ability of a firm or organization to influence decisions, actions, and outcomes in its environment. This effect can manifest itself in several ways:

Market Influence: The ability of a company to influence market trends, consumer behavior, and the competitive landscape. This could be through innovation, pricing strategies, or brand reputation.

Legislative Influence: The ability of a business to apply policies and legislation. This may include lobbying efforts, contributions to political campaigns, or joining legislative business groups.

Social Impact: How a business influences society’s norms, values, and behaviors. This could be corporate social responsibility (CSR) initiatives, sustainability efforts, or influence through advertising and media.

Economic Impact: The impact of a company on the economy, including job creation, economic growth, and its role in the supply chain. Large projects can affect economic conditions locally, nationally, or even globally.

Cultural Influence: The ability of a business to shape culture, whether through its products, services, or company characteristics. Technology companies, for example, have had a profound impact on today’s communication and work culture.

Internal Impact: The impact a business has on its employees, shareholders, and stakeholders. This includes leadership styles, corporate governance, and decision-making processes that shape company dynamics.

Specifically, performance impact relates to the ability and extent to which a firm can shape its environment, both internally and externally.

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Ankit Langey

Lvl 5
12mo ago

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