How have or will external factors result in the overhaul of a traditional industry of your choice (such as retail or any other) as we know it? Please explain and cite examples

Example I would use is FedEx. The courier industry is pretty cut and dry with really only two or three big companies that have majority of the market share. External factors such as the economy, politics, competitors, customers, and even the weather are all uncontrollable factors that can influence an organization’s performance.

One of the biggest thing that affect FedEx was Tariffs that were imposed on China in 2018,2019. FedEx lost hundreds of millions of dollars on an external factor they had no control over. Another was a major hack that set the company back 300 million. I can go on and on about this, I will discuss I class if called on.

The definition of business climate is made up of economic and professional setting surrounding an enterprise or industry. At this point in time, due to covid , business climate globally is not has robust as it used to be and it will take years to get back to where it was.

Banking is our industry, what we will see is a more of a shift from an online based banking rather than a brink and mortar type banking. What couple happen is that thousands if not hundreds of thousands of jobs will be lost due to this.