Many political factors have an influence on the business community, ranging from the philosophy of the governing party to political responses to economic trends. When government leaders and agencies set policies, they start trends that often have a powerful influence on the legal structure within which businesses either thrive or start to atrophy, as well as financial market conditions affecting consumer attitudes and the level of assistance that the government offers to businesses. Being able to read the political winds is a crucial part of strategic planning for a business.Continue Reading
One area in which political parties often differ is the degree of regulation that the business community needs to face. When the party permitting a more hands-off approach to regulating businesses is in power, then businesses do not have to worry about oversight in the areas of safety and environmental protection as much as they do when the party that favors more regulation is in the majority.
Political parties also differ in the way they view business tax structure. More conservative parties tend to want lower taxes on businesses, with the idea that less taxation brings in more business. More liberal parties tend to raise taxes, making it costlier for businesses to operate.Learn more about Business Resources
Environmental factors are external factors that can't be controlled by a business, according to the Houston Chronicle. These factors fall into several categories, including socioeconomic, legal or ethical, political and technological factors.Full Answer >
A safety program template contains policy or goals statement, a list of responsible persons, hazard identification, hazard controls and safe practices, and emergency and accident responses, states Business and Legal Resources. It also includes employee training and communication, and record-keeping as recommended by the Occupational Safety and Health Administration.Full Answer >
In today's advanced technological settings, an analytical report is generally used to detail trends. An example of such a report might list the top products sold over a five-month period and the related analytics. On a website, analytics are used to measure, collect and analyze data for website optimization.Full Answer >
Data mining is the practice of automatically searching large stores of data to discover patterns and trends that go beyond simple analysis, according to Oracle. "Business intelligence is an umbrella term that includes the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance," according to Gartner.Full Answer >