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Key External Factors
Economic factors are those such as disposable income of consumers, economic downturns and workforce availability.
The economic environment poses challenges and opportunities for Coca Cola. When there is economic downturn or recession, consumers become more frugal with their expenditures. Since products sold by the company are not necessities, many people forgo spending on beverages and choose water instead. In recession, there is a negative wave in the organization which creates pressure on the organization to prepare for the future. It means cutting the workforce by laying -off. Hence sentiments of employees change as they fear job loss.
Social, cultural, demographic and natural environment
The beliefs, values, attitudes, opinions, and lifestyle of people are all social factors which can affect the firm. These social factors change over time, thus ...
The solution discusses business policy and strategy making.