External Factors Essay

External agents be a do of influencing factors which be not controlled by the comp either but will impact determine decisions. It includes of legal, consumer trends, technological, and competitors. Our smart set focuses on technological and competitor as external factors that influencing determine setting on matcha collagen biscuits.Competition factors can look into three beas which are monopoly competition, perfect competition and oligopoly competition. Monopolistic competition is a situation where a single party or group controls the finished output of the grocery for a given type of yield or portion with any buyers. Besides, a monopoly is protected from competition by high barriers to entry and the product it catchs has no close substitutes. model of monopolistic competition is water service which supplier of water has no substitutes. Perfect competition is a merchandise structure where there are a large number of buyers and sellers. in that respect are a perfect k nowledge of foodstuff condition and the value which no individual firm has any influence on the merchandise expense. The products in perfect competition are homogeneous which they can be substituted easily. Therefore, the accompany can entry or exit the industry without poignant the food market.An oligopoly competition is a situation in which a particular market or industry is dominated by a small number of firms which compete against each other. There is an element of interdependence in the decision-making of these firms. Example of oligopoly competition are newspaper industry, petrol stations, and airlines. Our products price is influence of external factors which is perfect competition. This is be bear there are many firms produce an identical and homogeneous biscuit in the biscuit market such as Munchy, Tiger, and Jacobs. Besides, they are many sellers in the biscuit market which are Kraft, Julie, and Munchy as well as there is no dominating firm.Therefore, our company i s considered as price takers which accepts market price determined by the forces of market demand and supply. Furthermore, all buyers and sellers have perfect knowledge about the prices of biscuits in the market. Hence, our company cannot simply set the price of matcha collagen biscuits to maximize its profit, this will cause our product easily substitute with another brand of biscuits. Moreover, our company has drop off freedom of entry into and exit from the biscuit market without touching the entire market.Technology is a business enabler that has a revolutionary impact on the actual conduct of business. It contributes to achieving desired business productivity and efficiency. Under technological, our company using advanced technology on manufacturing operation to produce matcha collagen biscuits. Examples, our company utilize the latest techniques and machinery in order to increase the production as well as maximize capacity. Furthermore, the creation of databases and electro nic communications in our company have enabled vast quantities of information to be shared and pronto distributed within the company. Moreover, our companys customer service department used communication technology to talk to customer but will alike have access to internal systems, such as technology to change credit control and stock control. Therefore, shifts in technology and advances may affect costs, quality and overall innovation of our product which becomes a major factor of setting the right price for matcha collagen biscuits.