Final answer:
The management team and company mission are internal to a company, not external factors. External factors are influences from outside the organization such as political, economic, social, and technological factors (PEST). These do not include a company's management or mission.
Step-by-step explanation:
The management team and the venture's company mission are not examples of external environmental factors; rather, they are internal factors that are intrinsic to the company itself. External environmental factors are influences that arise from outside an organization and can impact its performance and strategies. These are categorized into political, economic, social, and technological, often referred to as PEST factors.
Political factors include government policies, taxation changes, and political stability, among others. Economic factors encompass economic growth, interest rates, exchange rates, and inflation rate. Social factors cover cultural aspects, health consciousness, and population demographics. Lastly, technological factors involve technological aspects like R&D activity, automation, and technology incentives.
When considering factors such as labor productivity, capital investment, and technology, these predominantly fall into the category of economic factors, as they significantly impact economic growth. Political factors could include trade policies and political stability which influence the business environment as well. Lastly, social factors would consider demographics and cultural trends that affect demand for products and services.