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.Know More
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
Resource planning is the step in writing a business plan that involves identifying the resources that a proposed business needs to succeed. This includes resources that the entrepreneur already has and those that still need to be acquired.Full Answer >
Businesses are classified according to size through industry measures that accurately show the operations of a business as a whole, explains the U.S. Small Business Administration. These measures include the number of employees, receipts, production capacity and financial information.Full Answer >
Physical resources are the material assets that a business owns, including buildings, materials, manufacturing equipment and office furniture. Physical resources can be sold if a business is facing a cash flow issue.Full Answer >
The physical resources of a business include all the tangible resources owned and used by a company such as land, manufacturing equipment and office equipment. Information technology and its attendant equipment, computers, networks, servers and others, are included in the category of physical resources.Full Answer >