CONTEMPORARY DEVELOPMENTS IN BUSINESS AND MANAGEMENT

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CONTEMPORARY DEVELOPMENTS IN BUSINESS AND MANAGEMENT

CONTEMPORARY DEVELOPMENTS IN BUSINESS AND MANAGEMENT

ANSWER


In business, external environmental factors simply refer to peripheral issues that affect the success of failure or a business. The explication of these external factors is going to be done below—with the brief analysis being based on the Spanish clothing company called Zara.

The most common external factor that needs to be monitored by Zara is economic issues like growth, exchange rates, inflation trends, rates of taxation and interests among many others. This is because these economic factors hugely dictate what a business should engage in.