There are many different factors involved with running a successful organization but there are only five in the top. The Economic Factors are ÃÂfunding sources, noncash revenues, clients or consumers, suppliers, and competitorsÃÂ (Kettner, 2002). An example of an economic factor would be the effects of raising gas prices. When gas prices increase the cost of supplies and equipment goes up. Good economic factors mean a better productive business.
Political Factors are important because they say what a business can and cannot do. They are laws and rules that they have to follow. For example, a law saying they can have only 10 clients a day they would have to abide by. Professional Factors mean people need to be able to work together. An example would be one person might have to take care of different things than another person and compare notes.
Sociological Factors are the ability to understand the demographics of any given place and be able to figure out what to do.
An example of sociological factors is to draw up graphs and things lie that to seek out their target clients. This can help with problem-solving and most other problems that can arise. Technological Factors are important because without them business would be extremely slow and nonprofit able. For example when a manager does not know how to run a program then he cannot explain it to the other employees and business will slow down considerably.
Factors can differ from place to place but the most important ones will always be at the top. Missing factors can make business slow or make it so there is no profit, which can be bad for everyone involved. These factors need to be followed to ensure a safe and effective organization.
ReferencesPeter M. Kettner (2002). Achieving Excellence in the...