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Steve was recalling his first day in college,including walking into the wrong class,dropping his books as he left,and the long line at the registrar's office he encountered when he had to switch classes.These memories are examples of
External Environmental Factor
Elements outside an organization that can affect its performance and strategy, such as economic conditions, regulations, and market trends.
Economic Climate
Refers to the overall state of the economic environment marked by indicators like GDP growth rates, unemployment, and inflation.
Work-Life Balance
A concept that emphasizes the importance of achieving an equilibrium between professional obligations and personal activities, ensuring individuals have a healthy division between their work and personal life.
Competitive Intelligence
The systematic gathering, analysis, and application of information about competitors, market conditions, and other external factors affecting the business.
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