100 – 150 word comment on the below 2 statements

1) Our text lists 10 external factors that can affect organization:
Economic, Social, Cultural, Demographic, Environment, Political, Governmental, Legal, Technological, and Competitive (F. David, 2020).The restaurant industry was recently affected by the Covid 19 pandemic. This may have started as an environmental factor, but it became political, governmental, and legal. Through periods of lockdown restaurants were not able to generate sales as customers were unable to purchase the goods. During April 2020 at least 10 states required residents to stay at home (American Bar Association, 2020). As restriction began lifting mask mandates were required and consumers wanted a safe way to obtain their goods. This forced restaurants to find new ways of modeling their business. Those who couldn’t adjust were among the more than 110,000 companies that closed permanently (Opinion, 2021).
Wearing masks, social distancing, and other regulations had to be followed. Successful organization adapted by offering new ways of doing business. For example, car side carryout, individually packaged meals, ordering through apps, home delivery and spacing of seating. These are just some of the ways companies have adapted to the regulations and consumer concerns.
They have also had to adapt to supply shortages, as well as labor shortages. The restaurant industry has gone through a huge overhaul and is still reeling from the many external factors it has had to deal with.

2) There are various external factors, such as economic, political, technological, social, and environmental factors, that influence the business environment and thereby can lead to an overhaul of the retail industry. I will talk about technological and environmental factors. External factors like technological factors have and will continue to impact the retail industry. Technology has given this industry a new dimension by introducing the Internet of things, facial recognition, autonomous delivery robots and store assistants, cashier-less stores, augmented shopping, and many other advancements (Clark, 2021). This led to an overhaul of the traditional industry and technology continues t to push the boundaries. For a retailer who wants to remain competitive, it is important to adapt to new technologies to its business model. Another external factor that influences and changes the retail industry is environmental factors because the continuous rise in environmental awareness has forced retailers to change their strategies. For example, retailers had to change their packaging by using a more environmentally friendly type of packaging such as paper instead of plastic or they use recycled materials. Additionally, the external factor made companies change/adapt their strategy, purpose, and mission statements focusing more on environmental awareness and giving back. For example, Nike’s purpose includes: “To protect the planet, we don’t wait for solutions, we create them. To protect the future of the sport, our Planet work is focused on carbon, waste, water and chemistry” (“Investing In Our Planet”, n.d.).

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