How Do Internal And External Factors Affect Organizational Behavior
In today?s business world all businesses operate within a much larger environment than the city or state where their primary business is located. Decisions are made everyday that are outside the control of the business and many factors that affect the company?s operations and bottom line. Many of these factors are beyond the control of the company, such as the current interest rate for the company?s line of credit. These are called external factors. External factors could be defined as ?something occurring outside of your company which you have little or no control over.? On the other hand, internal factors are within the company?s control (such as; quality, leadership, attitude, and communication).
We are going to discuss regulatory factors. If you define regulatory it is ?To control or direct according to rule, principle, or law (1996 Merriam-Webster, Inc)?. Regulatory is an external factor that potentially has a huge affect on how all businesses operate and it affects all industries differently. Because regulatory requirements are mandated by the government, business and industry are required to address them in the time period governed by the law no matter what the cost. We will talk about the regulatory
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