In the sense the external environment can influence business decisions, or even change the nature of a business... maybe. At a strategic level.
Depends on what you do.
To determine how much what you do might depend on external factors, there's no harm in doing a PEST analysis [1] once in a while. Perhaps combine it with some other tools, mind tools really that can help spark or focus reflective thinking.
[1] https://en.m.wikipedia.org/wiki/PEST_analysis