External factors are influences outside of an individual or organization that can impact their decisions, actions, and outcomes.
One author who defined external factors is Michael Porter, a renowned economist and professor at Harvard Business School. He stated that external factors are "the forces outside of a company that affect its ability to function, including market conditions, competition, government regulations, and technological advancements."
Another author who discussed external factors is Peter Drucker, a management consultant and educator. He emphasized that external factors are "the economic, social, political, and technological forces that shape the environment in which an organization operates, and which can have a significant impact on its success or failure."
Overall, external factors play a crucial role in shaping the strategic decisions and performance of individuals and organizations.