Question

What are some aspects of a new venture—or any business for that matter—that managers cannot control, but that can impact the business?

Answer 1

A new venture will have to face many challenges related to internal business processes and external factors affecting business environment .

Most important fact is that internal challenges like policy formulation, strategy, internal culture, business model etc. can be controlled by the internal managers but external forces like political, social , economic, technology related, environmental, legal framework etc. are uncontrollable . These can't be controlled by the managers due to dynamic nature .

For example, If , production managers will not care about sustainability related issues then many clients may reject the orders of that products. This sustainability will come under external environment factors including environmental forces affecting a business operations.

Managers can't control economic forces of a market. For example,

Due to Covid19, Supply chain disruptions have been observed. It has reduced the profit forecast of a business.

None in the business know about future rate of taxes imposed by a government. A startup or new venture will have to face such challenges.