Final answer:
The 10 main external influences on a business can include economic factors, technological factors, legal and regulatory factors, social factors, political factors, environmental factors, competition, supplier relationships, customer relationships, and global influences.
Step-by-step explanation:
The 10 main external influences on a business can vary depending on the specific industry and market. However, some common external influences include:
- Economic factors: including inflation, interest rates, and unemployment rates.
- Technological factors: such as advancements in technology and changes in consumer behavior due to technological innovations.
- Legal and regulatory factors: including government regulations and laws that affect the operations of a business.
- Social factors: such as changing demographics, cultural norms, and consumer preferences.
- Political factors: including government policies, stability, and political unrest that can impact businesses.
- Environmental factors: such as climate change and sustainability concerns, which can affect industries like agriculture and renewable energy.
- Competition: businesses need to consider the actions of competitors in the market.
- Supplier relationships: the availability and cost of raw materials and components can impact a business.
- Customer relationships: understanding and meeting customer needs and wants is crucial for success.
- Global influences: factors like trade policies and international events that can impact businesses operating globally.