Discuss the factors affecting the industry such as product, technical innovation, regulation, economic cycles.

The various factors affecting an industry can include product, technical innovation, regulation, economic cycles and other external influences. Product-related factors such as pricing strategies and availability of substitutes can affect the demand for goods and services produced by a particular business. Technical innovation often drives changes in production processes that can improve productivity while also decreasing costs which in turn affects competitiveness in the market. Regulations imposed by governments or other entities may also restrict certain activities or require businesses to adhere to certain standards which could impact their operations.

Finally, economic cycles play an important role as they refer to changes in the overall economy such as recessions or inflation which have major impacts on industries across all sectors. By taking these factors into consideration when making decisions, businesses can reduce risk while also positioning themselves to remain profitable during times of economic uncertainty.