The social environment is very important part of any business. The employer should have to maintain the healthy environment with all the employees. Teamwork, leadership, job satisfaction, leadership are the factors which suffer socially impact on business. Business is all stands upon the economic condition of a business. Most of the time business affected by the economic environment conditions. Demand-supply, marginal and total utility, economic growth and development, trade cycle, market research, inflation, recession are the economic factors affecting business. Environment issues are very damaging to the business. Natural calamities, uncertainty, Inflation, demographic displacement, drought, and flood are the environmental issues which affect your business.
Legal formalities should follow by all the business. If there is found any incompletion in formalities, then you have to face the problems. You should have to complete all the documents related to your business. Formalities and contracts related to law and regulations should follow by the company. Technological issues have to face all the business. Integrated issues, backup and disaster recovery challenges, security risk, lack of strategic IT planning, frustrated users because of the technical issue are the factors which impact business. Political impact on any business is sometimes good or sometimes bad. Political issues like pressure, corruptions, permissions, recommendations etc are giving a negative impact which affects your business.
