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The external environment can significantly impact an organization's success from "summary" of Fundamentals of Management (For B.Com, BBA, BBM and BMS) by J.P. Pathak
The success of an organization is not solely determined by its internal operations and strategies. The external environment in which the organization operates plays a crucial role in shaping its outcomes. The external environment includes factors such as economic conditions, technological advancements, political and legal regulations, socio-cultural trends, and competitive forces. These external factors can significantly impact an organization's performance and success. Economic conditions, for example, can influence consumer spending patterns, market demand, and resource availability. A strong economy can create opportunities for growth and expansion, while a recession can pose challenges such as decreased demand and increased costs. Technological advancements can also affect an organization's success by enabling innovation, improving ...
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