human resource management

Topics: PEST analysis, SWOT analysis, Environment Pages: 3 (596 words) Published: November 17, 2013
Environmental scanning is one essential component of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis. The global environment refers to the macro environment which comprises industries, markets, companies, clients and competitors. Consequently, there exist corresponding analyses on the micro-level. Suppliers, customers and competitors representing the micro environment of a company are analyzed within the industry analysis.[1] Environmental scanning can be defined as ‘the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market’.[2] The factors which need to be considered for environmental scanning are events, trends, issues and expectations of the different interest groups. Issues are often forerunners of trend breaks. A trend break could be a value shift in society, a technological innovation that might be permanent or a paradigm change. Issues are less deep-seated and can be 'a temporary short-lived reaction to a social phenomenon'.[3] A trend can be defined as an ‘environmental phenomenon that has adopted a structural character’.[4][improper synthesis?] Macro environment[edit]

There are a number of common approaches how the external factors, which are mentioned in the definition of Kroon and which describe the macro environment, can be identified and examined. These factors indirectly affect the organization but cannot be controlled by it. One approach could be the PEST analysis. PEST stands for political, economic, social and technological. Two more factors, the environmental and legal factor, are defined within the PESTEL analysis (or PESTLE analysis). The segmentation of the macro environment according to the six presented factors of the PESTEL analysis is the starting point of the global environmental analysis. PESTEL analysis[edit]

The six...
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