Social Factors

Public opinion and societal expectations are large external factors that force companies to reevaluate how they operate. If the public has a negative perception of your organization, it could have a detrimental impact on your company’s bottom line. Society has high expectations for organizations to be socially responsible. Social responsibility incorporates a wide variety of topics including community outreach, diversity promotion, sustainability, and high ethical standards. Each of these topics need to be incorporated into a company’s culture in order to be successful. With the scrutiny of the public and instant access to information through technology, companies are well monitored by society.