Create your account. As a member, you'll also get unlimited access to over 83,000 just create an account. - Definition, Importance & Factors, Internal & External Analysis: Definition & Tools, Domestic Environment in Business: Definition & Overview, Social, Cultural & Environmental Risks in Business, Financial Accounting: Homework Help Resource, Intro to Excel: Essential Training & Tutorials, IAAP CAP Exam Study Guide - Certified Administrative Professional, FTCE Business Education 6-12 (051): Test Practice & Study Guide, DSST Organizational Behavior: Study Guide & Test Prep, Organizational Behavior Syllabus Resource & Lesson Plans, Public Speaking Syllabus Resource & Lesson Plans, DSST Business Ethics and Society: Study Guide & Test Prep, Business 315: Logistics & Supply Chain Management. Shawn has a masters of public administration, JD, and a BA in political science. A political factor is an external constraint on a company, meaning that the influence comes from outside the organization's control. Political factors: factors that are influenced by government decisions; taxes, infrastructure, public service and the like in the local community, the nation or internationally. 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Create an account to start this course today. {{courseNav.course.mDynamicIntFields.lessonCount}} lessons For example, legislation and regulations can force businesses to act in a certain manner or prohibit them from acting in a certain manner. �7�q�ԍ��*K�O���O���+o`���k�o=^&it�jUm/9D,HJ)�{����a�m�tx��/�˅hE�J�. - Definition & Example Business Plan, What is Program Management? To learn more, visit our Earning Credit Page. Get the unbiased info you need to find the right school. Several aspects of … and career path that can help you find the school that's right for you. For example, if war breaks out in a developing country where you just built a factory, there's not much you can do about the war, even though it is killing your business. %PDF-1.3 The first thing to recognize is that political factors constitute an external constraint on a business, which just means that the political factors that affect a business are often completely out of the company's control. Let's break this down a bit. Companies also study environmental, legal, ethical and demographical factors. For example, banking regulations are heavily influenced by the banking industry and often favor the banks rather than the consumers. study Did you know… We have over 220 college | 2 Try refreshing the page, or contact customer support. - Examples, Advantages & Role in Management, What Is a Non-Profit Business? succeed. 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