Definition of External factors:
Outside influences that can impact a business. Various external factors can impact the ability of a business or investment to achieve its strategic goals and objectives. These external factors might include competition; social, legal and technological changes, and the economic and political environment.
How to use External factors in a sentence?
- I wondered what the external factors were that were preventing us from reaching our full potential as a major company.
- Our business is suffering this quarter due to the following external factors : severe weather has reduced rice production, the cost of sugar has risen, and trade restrictions have been put into place in a few of our partner countries.
- There can be many external factors beyond your control that will decide whether a new project works out or not.
Meaning of External factors & External factors Definition