Political:
Government, Government Policies, Tax system, foreign trade regulations
Economical:
Interest Rates, Demand & supply, unemployment, population income
Social:
Society’s values, attitudes, level of education, population demographics
Technological:
Changes in technology that affects the ways of working or the types of products or services demanded
Environment:
Environmental regulation, consumer’s attitude to products.
Legal:
Health & safety rules, employee related law, monopoly legislation, environmental law
The importance of the factors varies to a given company based on its industry and the goods it produces.
Example:
– Consumer companies tend to be more affected by social factors.
– While defense company would be affected by political factors.
– The company who have borrowed high amount needs to focus on Economic factors.