Factors of internal environment:
Human resource or resources refer to the number (quantity) and abilities (physical and mental) of
people.it is actually a department within an organization or a business that is responsible for all the
things related to the workers. It includes hiring, training, reruiting, selectiong, promoting, paying and
firing employees.it is also a department that guides how workers should be treated during working,
paying and hiring process.it is also considered the most important resources of company all resources by
the most business strategists.a human resource takes care the overall performance of the workforce in
an organization, each individual giving his/her skills and knowledge and time to the organization. HR has
a lot of responsibilities. Some of them are:
Training and profesional development
Compensation plan development
Employee assistance plan
capital resources are human made resources used by a company to create goods and services. With
capital resources, companies can remain productive and keep serving their customers. A capital
resource can be equipment and machinery or even infrastructure.An increase in capital resources can
impact the economy positively. A higher investment in capital resources usually results in a more
productive output for companies.
Examples: Office buildings,Production processes,Tools,Vehicles,Manufacturing
facilities,Heavy machinery,Proprietary software,Inventory,Cash flow
Infrastructure refers to the essential facilities and structures that are necessary for the full operation
of the business. An infrastructure plan creates a road map that is used to start and run a company.it
consists of three part plan
An example of a type of business infrastructure is an office building.
Innovation: Innovation is a product, service, business model, or strategy that's both new and useful.
Innovations don’t have to be big one it can be as simple as upgradation to the company’s customer
service or any new features added to the existing product.innovation is the introduction of something
new into the business ideas coming from employees, developers, managers and outside the company
like suppliers and customers, etc. effective innovations can result in high productivity,cost reduction,
brand value, turnover increase and more competitiveness. Company or companies which fail to make
innovations will definitely face the risks of losing market share to the competitors.
There are types of innovations in business: