internal factors Flashcards
finance, HR and current technology are all kinds of what factors
Internal factors
what do internal factors do
effect a business either positively or negatively
if a business has a lack of finance what can happen to that business 4x
cant pay their bills
cant purchase raw materials
cant take on more staff
cant grow
what does HR refer to
employees
if employees aren’t happy with what their working conditions are like or their pay or pension they can do what
take industrial action
what happens when industrial action takes place
it slows down production and creating a decrease in profit
what internal factor includes technology they are using at the moment
current technology
what can happen if the technology is out of date 4x
money can be spent fixing it
productivity is slower
production may have to stop if machinery breaks
staff may get frustrated
