Analysis of the External Environment of Business The Technological Environment The external business environment consists of four elements, they are as follows: Political, Economic, Social and technological. It would be impossible to analyse the whole environment in one essay, I have therefore decided to focus my essay on the technological environment. I have chosen this area to focus on because as Palmer and Hartley point out, it is one area that is forcing immense change in the external business…
Business Report - Telstra/FOXTEL Telstra The following report for Telstra Corporation Limited will suggest how the business can be helped through and be informed about the external influences that may effect the business at the present time or the future in relation to the continuance in the television market . The most relevant external influences would consist of the competitive situation, technological and markets. Tips will be provided to help the business help succeed in the current market…
Analysis of the External Environment of Business In today's highly competitive market, businesses must be aware of the environment in which they operate and the external factors that influence them. These factors can affect the main internal factors of the business and its objectives or marketing strategies. The external environment is rarely stable and many of the external forces can change quickly and dramatically and are usually beyond a firm's control. Although some external factors can…
Jonathan. "Goodyear is Developing Self-Inflating Tire."The New York Times (2011): 4. Web. William, James. "Training and Education Overview." The Washington Post (2011): 1-18. Web. Wingett, Steven. "Goodyear Dunlop Tires North America." Datamonitor Business (2011): 2-21. Web. Zmuda, Natalie. "A Look at the Global Tire Industry." Advertising Age 83.2 (2012): 2. Web.…
others with which you are familiar, assess the potential implications for business of external growth as compared with organic growth. Organic growth is when a firm expands its existing capacity or range of activities by extending its premises or building new factories for example. External growth however is when two or more businesses come together via a merger or a take-over. There are many implications of external growth. One of the main implications is the ignorance of the different cultures…
Written Report in Strategic Management Chapter 3: The External Assessment Submitted by: Stephanie Rose Capule Melody Ferrer Divine Grace Jasa Claudine Martinez Wendy Pangilinan Mark Angelo Santiago Julma Tumibay Mktg 4-2 Submitted to: Mr. Jamilton Esguerra Chapter Objectives: After studying this chapter, you should be able to do the following: 1. Describe how to conduct an external strategic-management audit. 2. Discuss 10 major external forces that affect organizations:…
The external Environment of business refers to the external forces which consist of legal-political, economic and culture, that play a part in influencing the direction that the firms take. The legal element of the environment is the framework of rules laid down by the government which business must operate. The labor laws protect the rights of the NBA players by providing for contracts of employment , compulsory insurance , recognition of National Basketball Association and industrial…
an organization. Environment is discussed more in detail in later part of this report. Business strategies are made considering the interest of stakeholders, company’s mission and value statement and values of the organizations. Capabilities for an organization are their resources, staff, economy of working and systems available for an organization to work in. This section is also discussed in details in this report. Also, to make effective strategies companies need to generate and gather information…
External Influences in Business Government/EU policies Governments set up many interventions that guide businesses. Businesses will normally change the way they operate when the government changes these rules and policies. Government economic and market policy may have an influence on the productivity of businesses. Business owners must adhere to regulations established by the governments on a local, state and federal level. Let’s discuss the potential interventions reasons in markets and…
External analysis How can a smartphone company use external analysis to gain competitive advantage? 1. Apply 5 forces model for the smartphone industry According to Hill and Jones, the five forces model serves the purpose to identify opportunities and threats in the external business environment, by analysing “competitive forces” (Hill & Jones, 2012, p. 42). Once created by Michel E. Porter this particular framework functioned as a useful tool for managers to approach the external analysis…