Such as digitization, automation and mobile markets may require changes in the way a company operates. Legal factors: Legal factors are any type of law that regulates what a company can do and how it does it. For example, manufacturing companies must comply with pollution laws. Environmental factors.
Environmental factors include Malta Phone Number anything in the natural world that affects businesses, including political initiatives, natural disasters, pollution, and climate change. Read more: business analysis techniques to optimize success Porter's five forces framework The five forces include the most important factors that affect competition and help companies determine whether new products or services can increase revenue.
Michael A. Porter of Harvard University developed this framework and first published it in . Porter's five forces are: Current competitors, including the number of competing companies, their size, and the differences in the products and services they offer. Potential new competitors and how they will enter the market based on technology.