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Definition

Social Factors

The social factors that affect a firm involve the beliefs,values,attitudes,opinions,and lifestyles of persons in the firm's external environment, as developed from cultural,ecological,demographic,religious,educational and ethnic conditioning.As a social attitudes change, so too does the demand for various types of clothing, books,leisure activities,and so on.Like other forces in the remote external environment, social forces are dynamic, with constant change resulting from the efforts of individuals to satisfy their desires and needs by controlling and adapting to envirornmental factors.

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