7) Internal Factors Flashcards
1
Q
Finance
A
Crucial
Lack of money means cost cutting
Changes in costs could mean cut in profits
2
Q
Staff
A
Expert and capable staff will be more productive in their work and will help the business to achieve more
3
Q
Management
A
A strong and capable management team will make good business decisions and lead the business to success
4
Q
Information
A
A business must carry out thorough market research to obtain accurate information about its customers and what they need and want
5
Q
Technology
A
The use of ICT and robots means that goods or services can be produced more efficiently and cost effectively
6
Q
What are the 5 internal factors?
A
Finance Staff Management Information Technology
