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Determine two (2) specific forces in the external environment that will have the most impact on...

Determine two (2) specific forces in the external environment that will have the most impact on an organization. Provide a rationale for your decision.

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Answer #1

There are many forces from the external environment that impact the organization which are PESTEL (Political, Economic, Social, Technological, Legal and Environmental). However, the most important one being the following:

1. Political:

The political stability of the government is the key factor which supports the economy. They even help set up the inflation and the cost of borrowing rate, therefore, a strong political environment with negligible problems is recommended.

2. Legal:

Compliance with legal standards and a sudden change in norms may lead to additional liability on the companies. For example, coming up of IFRS and GST in India have to lead to full disclosure and a drastic change in the book of accounts of the company.

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