Businesses Cannot Operate in a Term Paper

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Finally, technology has a strong bearing on the future success of a business. Being able to use technology to our advantage will ensure success. Of each of these external forces, I foresee political and legal forces as having the most potential impact on the success of my business because laws affect licensing, taxation, and product regulation.

Financial information systems help small business owners communicate with the market. Although they require an initial expense, financial information systems will help business owners save money by understanding their market share, offering key data on the market environment, and helping a business owner decide whether or not to expand or diversify.

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At the initial stages of my business, however, I will rely more on managerial accounting information because my partners and I will rely on internal data to guide our early decisions. Soon after we are established I will rely more on financial information systems......

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