¶ … propositions: The inputs National Presto Industries, Inc. consisting Organizational Environment factors, Internal Resource factors, Historical Tradition factors, [highly support, partially support, support] company's mission.
National Presto Industries
Key Input Factors
Organizational Environment Factors
The company's activity is influenced by external and internal environmental factors. The external environment is represented by the economic, social, political, legal, technological, and environmental issues. Economic factors are the most important category the can affect companies' development. The economic situation of the country is able to determine what strategy the company should use. The international economy is also important, because the process of globalization has intensified business relationships between suppliers and customers in different countries. These economic conditions influence the income level of National Presto's customers. The purchasing power of individuals significantly influences the activity of the company.
Political factors must also be taken into consideration when establishing the company's strategy. This is because an unstable political environment can influence investors' decisions. In addition to this, political battles between different parties lead to country strategies that do not favor the activity of certain countries.
The so environment is another factor of great importance. The social policies developed by countries determine the purchasing power of individuals. Therefore, it is important to adapt the company's strategy to the social environment. Also, the social and economic development of countries determines what types of business are the most favorable in each case.
Regarding the internal environment, the most important components are represented by: customers, employees, managers, owners, the government, suppliers, the community, and others. Customers represent the central point of the company's strategy. In other words, the strategy must be oriented towards...
Based on the materials and services purchased from its suppliers, National Presto creates competitive advantage. Therefore, it is important to develop a strong relationship with these suppliers. Managers also play an important role in the company's success on the market. This is because they must focus on increasing the efficiency of the decision making process and on developing and implementing the strategy.
These factors and their evolution have a great impact on the company's strategy, but also on internal resources. This is because economic factors influence workers' salary levels, and the financial resources that the company can use. They also influence customers' purchasing power.
Internal Resource Factors
The company's resources are represented by financial, technical, and human resources. The company's financial resources are necessary for the investments made in product development, activity expansion, and in improving product quality. Based on the level of its financial resources, the company establishes what production cost can be applied. This also determines the price of the company's products and services.
Technical resources also have a significant impact on the activity of National Presto. The importance of this factor is reflected in the technological development that the company uses in order to develop high quality products. National Presto understands that customers are interested in products of higher quality, although they are more expensive.
The company's human resources represent the most important resource that National Presto can use. Basically, the company's success relies on the efficiency and productivity of the personnel. Therefore, it is important to invest in this resource by developing several training programs intended to improve the skills of employees.
These resources cannot influence environmental factors, but they have an important influence on the company's…
