Aircraft business?

Question

could sombody just give a breif idear what this means and what the qustion is looking for in terms of an anwsere.

"explain the external factors and economic environment that affects the way in which an engineering company operates".

sorry about the spelling.

thanks.x

Answer 1

External factors means, the factors which are significant for the company to manufacture, produce, innovate, earn profit and keep itself sustainable in its course of business (the type of business the company is doing). These external factors are responsible for the progress of the company (if a company is doing a set of activities without any purpose to earn profit then its a charity i.e.making profit is the objective). So is economic environment- whether a company which is making a product is able to sell and has a monopoly or has vast diversification abilities to keep itself in the business (otherwise will go bankrupt).