Internal factors that affect a business.

[Ephy]

These are things that hinder or promote any business operations within the business. These factors can either affect the business positively or negatively. Which means they can contribute to strength of a business or bring weaknesses to the business. These factors include:

1. Labourers or employees - any business to operate needs employees or workers who will offer services to the customers and help in the management of the business. These workers must have knowledge and relevant skills in order to contribute to the success of the business which means they can also contribute to failure of the business.
2. Finances or funds - any business to have a smooth or run efficiently there must be enough supply or availability of enough funds for it to run without any problems.
3. Business resources - these include facilities like buildings, vehicles, equipment, tools and machinery. If there is adequate and appropriate facilities then a business will run efficiently.
4. Business culture - this refers to the beliefs and values upheld by the owners,managers and the employees of the business.
5. Management style - this is how you're going to manage the business and how are you going to conduct or want your employees to work in the business.
6. Technology - this includes the use of machines to improve in the production of goods and services.

 

[Bookwormlux]

Management style is one of the most important of all factors, one has to be open to other people's opinions if he or she really wants to succeed in the business. Some business owners have not been able to achieve many things because they have refused to learn from others experience. This then makes it difficult for them to meet up with latest trends in business, also they do not cope easily with competition. These things would now lead to the business failing. Such business owners could even resort to blaming their employees and sacking them too.

Management skills is very important in the success of any business.

 

[Seyesystem]

In business when it comes to internal factors that affect business there are a lot of factors that may affect business internally and which which layer include luck of effective internal control in the organisation, lack of skilled Labour in the organisation, improper management of both capital and human resources and lack of good organisational structure. For an organisation to succeed it must address the above issues. For Business to be successful, effective Managing of a business for a business owner is very important by putting in place monitoring and some controls in the system. Once there is effective control in the internal process of the organisation the need for the physical presence is minimal because the control will serves as a check in the organisation

 

[Jonaville]

Employees in the business is also an important factor that can either have a negative or positive effect on the growth of the business. Hard-working and diligent employees will do everything they can for the betterment of the business. On the other hand, lazy and careless employees can tarnish the image of the business and in some cases make it run down. Therefore one should be very careful of the type of employees one employs as this can also have a tremendous effect on the said business.

 

[Good-Guy]

I believe that apart from management of the business, the decisions made by the bosses also impact the overall growth of any business. management can do nothing without the permission of the owner. So no matter how great or efficient a business management is, if the owner of that company does not take the crucial steps for the betterment of the company, then the company cannot progress at all. Secondly, making the right kind of budget is also very important. A company should never invest all the capital it has in any kind of project no matter how profitable it is. In fact, it should understand the risks factors and make the right decisions.

I am talking about the strategies utilized by the businesses. If the strategy of a business is not great, then nothing can be done. Moreover, it is very important for a company to seek different kinds of options and opportunities from external sources. This is because internal sources also depend a lot on the external sources that could be beneficial for the company. Some of them include seeking new investors for the company and creating plans that would guarantee profits in a surefire manner. These are some great factors that might help a company to develop more.

 

[Chibson]

There are a lot of internal factors that determines whether a business will succeed or not and most of these factors is responsible for the success or failure of any business provided there is an enabling environment to run a business in that particular country. If a business man does not make sure that these internal factors are put in place then there is a high possibility that such a business will not succeed. But when these factors are properly put in place before kick starting a business then there is high possibility that such a business must succeed. Sometimes it is not really about the finance of the business but the kind of mindset and ideas that people that run a business has that determines whether such a business will succeed or not. The business owner is the main factor that internally affects a business and he or she is largely responsible to whether a business succeeds or not. A business owner is responsible for employing people and when the right people are not put in the right place and there is a higher tendency that such a business we will definitely not succeed. Another internal factor that affects a business is the workers of such a business. If the workers are determined and passionate enough then there is a possibility that such a business will succeed.

 

[Richee84]

Business definitely come with it own different kind of challenges and this challenges can either be internal or external in nature. There are several internal factors that can affect a business both positively or negatively and some of these factors are discuss below;
Management: The management it self is a very important factor that can affect the growth of a business. The management is seen as the arrow head of the business, they plan, organise control and take decision on vital issue that affect the business. A business with a sound management team will success and make great impact in it line of business but if a business have a weak management team the business might suffer set back.
Funding: Another critical factor that can affect a business is funding, every business need a constant financial support to survive and compete well among it competitors. A business with good funding will do very well.
Human Resources: Human resources include all the worker employed by the business owner that help in carrying out various task in order to achieve the business objectives.
Material Resources: This include all the necessary material that are need in the daily operation of the business. Scarcity of material resources can affect the operation of the business.