Internal influences

• What are the 3 main internal factors

  Human Resources, finance, current technology
• Relates to the people who work in a business organisation. The performance of a business is affected by the quality and impact of the people who work for it.

  Human Resources
• Human Resources covers managers and employees
• Managers can influence a business by

  Decision making, creating policy, hiring and firing of employees, setting budgets, conducting appraisals with staff
• Employees can influence a business through their

  productivity, ability to satisfy customers, absenteeism, ability to perform their job, training, industrial action
• How does finance influence a business

  A business needs adequate funds in place in order for it to survive and grow successfully. Without the proper finance, a business will be held back and eventually will struggle to survive.
• Why may finance be needed

  Developing new products, hiring new staff, opening a new branch, buying new machinery and equipment, a wage rise for existing employees.
• Why may current technology be useful for a business

  A business can use new technology to ensure efficiency and also to boost its profile.
• Examples of current technologies that businesses can rely on include

  specialist software, top of the range hardware, access and control of social media, apps