{"id":1065,"date":"2022-04-20T10:36:00","date_gmt":"2022-04-20T08:36:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/environmental-analysis-in-management\/"},"modified":"2024-03-07T22:24:30","modified_gmt":"2024-03-07T20:24:30","slug":"environmental-analysis-in-management","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/","title":{"rendered":"Environmental analysis in Management"},"content":{"rendered":"\n<p class=\"\">&nbsp;<span style=\"font-size: 11pt; text-align: justify;\">This article on <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/03\/introduction-to-strategic-management.html\">strategic management<\/a> course exposes you to the business of industry environmental analysis and diagnosis. The business environment comprises both external and internal environments, which are complex and are constantly changing. There are many environmental factors that directly or indirectly impact a particular business. They include factors that are beyond the control of the business organisations.<\/span><\/p>\n\n\n\n<p class=\"\">To sustain business and also survive in the competitive environment, the strategist must understand his environment through critical and objective analysis using certain criteria. The impact of some necessary changes and their implications on the business organisation must be analysed and appropriate strategic decisions made.<\/p>\n\n\n\n<div>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d94f47c6c02\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d94f47c6c02\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#_Meaning_of_Business_or_Industry_Environment\" >&nbsp;Meaning of Business or Industry Environment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#_Nature_of_the_Environment\" >&nbsp;&nbsp;Nature of the Environment<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#External_Analysis\" >External Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Socio-Cultural_Forces\" >Socio-Cultural Forces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Economic_Forces\" >Economic Forces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Technological_Forces\" >Technological Forces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Legal_Forces\" >Legal Forces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Demand\" >Demand<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Market_structure\" >Market structure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Technology\" >Technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#Government\" >Government<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/support.centreforelites.com\/en\/environmental-analysis-in-management\/#_Internal_Analysis_and_Diagnosis\" >&nbsp;Internal Analysis and Diagnosis<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"break-after: avoid; line-height: 115%; margin-left: 0cm; mso-list: l0 level1 lfo1; mso-pagination: lines-together; page-break-after: avoid; tab-stops: 65.75pt; text-align: justify; text-indent: 0cm;\"><span class=\"ez-toc-section\" id=\"_Meaning_of_Business_or_Industry_Environment\"><\/span><span style=\"mso-bookmark: bookmark256;\"><span style=\"mso-bookmark: bookmark258;\"><span style=\"color: black;\"><span style=\"mso-list: Ignore;\"><span style=\"font: 7pt 'Times New Roman';\">&nbsp;<\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 11pt; line-height: 115%;\">Meaning of Business or Industry Environment<\/span><\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"break-after: avoid; line-height: 115%; margin-left: 0cm; mso-list: l0 level1 lfo1; mso-pagination: lines-together; page-break-after: avoid; tab-stops: 65.75pt; text-align: justify; text-indent: 0cm;\"><a name=\"bookmark258\"><\/a><\/p>\n<p style=\"line-height: 115%; margin-left: 0cm; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">The environment of an organisation could either be internal or external.&nbsp;<\/span><span style=\"font-size: 11pt;\">The external analysis is often referred to as environmental analysis while<\/span> <span style=\"font-size: 11pt;\">the internal&nbsp;<\/span><span style=\"font-size: 11pt;\">analysis is the company analysis or strategic<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">advantage analysis. The environment of an organisation includes factors outside the firm which can lead to opportunities for or threats to the organisation. In business, the environment of an organisation is the pattern of all external conditions and influences that affect the organisation&#8221; s life and <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a>. The relevant environmental factors include the total business community, the city or town, the entire country and the world at large. They also include technological, economical, physical, social and political factors.<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">The corporate strategist must be aware of these features in the environment. There should be aware that change is taking place at varying rates in all the environmental factors. Change usually is fastest in technology, perhaps closely followed by political changes particularly in developing countries which are politically unstable. Change in the environment of business necessitates continuous <a href=\"https:\/\/support.centreforelites.com\/en\/master-monitoring-and-evaluation-in-5-minutes\/\">monitoring<\/a> of a company&#8221;s definition of business. Otherwise, it may fail by becoming obsolete at the time it comes on stream. The effect of competition in the company&#8221;s environment should not be overlooked. The strategist should be able to monitor environmental factors well to determine opportunities for threats to the organisation. Environmental diagnosis consists of management decisions made and assessing the significance of the data (opportunities and threats) of the environmental analysis.<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">Environmental analysis and diagnosis give strategists time to anticipate opportunities and plan to take optional responses to the opportunities. It helps the strategist to develop an early warning system to prevent threats or develop strategies, which can turn a threat to the organisation&#8221;s advantage. The analysis of the environment is important in that it increases the quality of the strategic decision making by considering a range of the relevant features well in advance before the need to make an irrevocable decision.<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">The strategy of any organisation should be directed at exploiting the environmental opportunities and blocking the environmental threats in a way and manner consistent with the organisation&#8221;s internal capabilities. This is porter&#8221;s concept of environmental fit which allows the organisation to maximise its competitive position.<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">The success or failure of environmental analysis depends largely on the characteristics of the environment such as the complexity of the environment, the rate of change and the cost of available information&nbsp;<\/span><span style=\"font-size: 11pt;\">about the environment in which an organisation floats. The following process may be followed:<\/span><\/p>\n<\/div>\n\n\n\n<div>\n<p style=\"line-height: 115%; margin-left: 0cm; mso-list: l1 level1 lfo2; tab-stops: 114.7pt; text-align: justify; text-indent: 46pt;\"><a name=\"bookmark259\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 12pt; line-height: 115%;\"><span style=\"mso-list: Ignore;\">(a)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 11pt; line-height: 115%;\">Audit the environmental influences.<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 80pt; mso-list: l1 level1 lfo2; tab-stops: 81.45pt; text-align: justify; text-indent: -34pt;\"><a name=\"bookmark260\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 12pt; line-height: 115%;\"><span style=\"mso-list: Ignore;\">(b)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 11pt; line-height: 115%;\">Assess the nature of the environment to determine the level of complexity or environment.<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 80pt; mso-list: l1 level1 lfo2; tab-stops: 81.45pt; text-align: justify; text-indent: -34pt;\"><a name=\"bookmark261\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 12pt; line-height: 115%;\"><span style=\"mso-list: Ignore;\">(c)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 11pt; line-height: 115%;\">Identify the key environmental forces (using Porter&#8221;s five forces model).<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 80pt; mso-list: l1 level1 lfo2; tab-stops: 81.45pt; text-align: justify; text-indent: -34pt;\"><a name=\"bookmark262\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 12pt; line-height: 115%;\"><span style=\"mso-list: Ignore;\">(d)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 11pt; line-height: 115%;\">Identify the competitive position of the organization (using a life circle).<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 80.0pt; mso-list: l1 level1 lfo2; tab-stops: 114.7pt; text-align: justify; text-indent: -34pt;\"><a name=\"bookmark263\"><\/a><!-- [if !supportLists]--><span style=\"color: black; font-size: 12pt; line-height: 115%;\"><span style=\"mso-list: Ignore;\">(e)<span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><\/span><!--[endif]--><span style=\"font-size: 11pt; line-height: 115%;\">Identify the major opportunities and threats (using <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/swot-analysis.html\">SWOT<\/a>\/TOWS analysis).<\/span><\/p>\n<h2 style=\"break-after: avoid; line-height: 115%; margin: 0cm 0cm 15.0pt 0cm; mso-list: l0 level1 lfo1; mso-pagination: lines-together; page-break-after: avoid; tab-stops: 114.7pt; text-align: justify; text-indent: 46pt;\"><span class=\"ez-toc-section\" id=\"_Nature_of_the_Environment\"><\/span><span style=\"mso-bookmark: bookmark267;\"><span style=\"color: black;\"><span style=\"mso-list: Ignore;\"><span style=\"font: 7pt 'Times New Roman';\">&nbsp;&nbsp;<\/span><\/span><\/span><\/span><!--[endif]--><span style=\"mso-bookmark: bookmark267;\"><span style=\"font-size: 11pt; line-height: 115%;\">Nature of the Environment<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"break-after: avoid; line-height: 115%; margin: 0cm 0cm 15.0pt 0cm; mso-list: l0 level1 lfo1; mso-pagination: lines-together; page-break-after: avoid; tab-stops: 114.7pt; text-align: justify; text-indent: 46pt;\"><a name=\"bookmark267\"><\/a><\/p>\n<h3 style=\"break-after: avoid; line-height: 115%; margin-left: 0cm; mso-list: l2 level1 lfo3; mso-pagination: lines-together; page-break-after: avoid; tab-stops: 81.45pt; text-align: justify; text-indent: 46pt;\"><span class=\"ez-toc-section\" id=\"External_Analysis\"><\/span><span style=\"mso-bookmark: bookmark269;\"><span style=\"mso-bookmark: bookmark265;\"><span style=\"mso-bookmark: bookmark264;\"><span style=\"font-size: 11pt; line-height: 115%;\">External Analysis<\/span><\/span><\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"break-after: avoid; line-height: 115%; margin-left: 0cm; mso-list: l2 level1 lfo3; mso-pagination: lines-together; page-break-after: avoid; tab-stops: 81.45pt; text-align: justify; text-indent: 46pt;\"><a name=\"bookmark269\"><\/a><\/p>\n<p style=\"line-height: 115%; margin-left: 46pt; tab-stops: 226.95pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">An organisation&#8221;s environment comprises all the events, issues and facts which can influence its performance, but over which the organisation has little or no influence.<span style=\"mso-tab-count: 1;\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span>The external environment is beyond the<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 46.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">control of the organisation. The societal environment constitutes conditions that have a broad, rather than a direct influence on the organisation. These conditions include demographic, natural, political, cultural and economic factors. All these put together constitute the world within which the organisation functions and operates.<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 46pt; tab-stops: 171.5pt; text-align: justify;\"><b><span style=\"font-size: 11pt; line-height: 115%;\">Demographic Factor:&nbsp;<span style=\"mso-tab-count: 1;\">&nbsp;<\/span><\/span><\/b><span style=\"font-size: 11pt; line-height: 115%;\">This includes ageing of the population, geographical&nbsp;<\/span><span style=\"font-size: 11pt;\">population shifts, population <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> and better-educated populace.<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 46pt; tab-stops: 145.6pt; text-align: justify;\"><b><span style=\"font-size: 11pt; line-height: 115%;\">Natural Factor:&nbsp;<\/span><\/b><span style=\"font-size: 11pt; line-height: 115%;\">This includes pollution levels, natural resources&nbsp;<\/span><span style=\"font-size: 11pt;\">management, and increased energy cost, raw material availability<\/span><b style=\"font-size: 11pt;\">.<\/b><\/p>\n<p style=\"line-height: 115%; margin-left: 46pt; tab-stops: 158.1pt; text-align: justify;\"><b><span style=\"font-size: 11pt; line-height: 115%;\">Political Factor:&nbsp;<\/span><\/b><span style=\"font-size: 11pt; line-height: 115%;\">This includes international trade, investment&nbsp;<\/span><span style=\"font-size: 11pt; line-height: 115%;\">incentives\/controls, fiscal\/monetary policies, industrial policies,&nbsp;<\/span><span style=\"font-size: 11pt;\">consumer policies, labour policies and regional policies.<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 46pt; tab-stops: 158.1pt; text-align: justify;\"><b><span style=\"font-size: 11pt; line-height: 115%;\">Cultural Factor:<span style=\"mso-tab-count: 1;\">&nbsp;&nbsp;<\/span><\/span><\/b><span style=\"font-size: 11pt; line-height: 115%;\">This includes the status of women and minorities,&nbsp;<\/span><span style=\"font-size: 11pt;\">changes in the family life style, decline in the traditional lifestyle, improved living standards, shifts to less work and more leisure.<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 46pt; text-align: justify;\"><b><span style=\"font-size: 11pt; line-height: 115%;\">Economic Factor: <\/span><\/b><span style=\"font-size: 11pt; line-height: 115%;\">These are gross national product, personal income, employment and unemployment level, inflation rate, government spending and availability of capital.<\/span><\/p>\n<p style=\"line-height: 115%; margin-left: 46pt; tab-stops: 102.65pt 145.6pt 304.0pt 378.65pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">There is also a task environment which has a major that impact on the organisation and its strategic planning process among which are the nature of competition in any particular&nbsp;market. The&nbsp;<\/span><span style=\"font-size: 11pt; text-indent: 46pt;\">nature<\/span><span style=\"font-size: 11pt; text-indent: 46pt;\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><span style=\"font-size: 11pt; text-indent: 46pt;\">of&nbsp;<\/span><span style=\"font-size: 11pt;\">competition is very important since it impacts the profitability and scope of strategic manipulations in the market as shown in the following Figure<\/span><\/p>\n<figure><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"https:\/\/i0.wp.com\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEg7GmHdGKIwstgZwuPlR6rk9j_ajOwrgaMJygPPCOovBQgkrSOLnwtPqtSneqBJqQy9dWZxfaezMy2LKc-eXmlpI5UrKMpF8vFIqW4cuRHhaKXQmMVlU_VKtYzNULcG8Th-UxsASuyUpkTPZ4PhzjuLQVjieABbsmKR38QPK7ibQtrJX62AJZ5URG85\/s757\/image.png?ssl=1\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" title=\"Organizational Development\" src=\"https:\/\/i0.wp.com\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEg7GmHdGKIwstgZwuPlR6rk9j_ajOwrgaMJygPPCOovBQgkrSOLnwtPqtSneqBJqQy9dWZxfaezMy2LKc-eXmlpI5UrKMpF8vFIqW4cuRHhaKXQmMVlU_VKtYzNULcG8Th-UxsASuyUpkTPZ4PhzjuLQVjieABbsmKR38QPK7ibQtrJX62AJZ5URG85\/w640-h378\/image.png?resize=640%2C378&#038;ssl=1\" alt=\"ENVIRONMENTAL ANALYSIS\" width=\"640\" height=\"378\" border=\"0\" data-original-height=\"448\" data-original-width=\"757\"><\/a><\/figure><div style=\"clear: both; text-align: center;\"><\/div>\n<div style=\"clear: both; text-align: center;\"><span style=\"font-family: 'Times New Roman', serif; font-size: 11pt; text-align: justify;\">&nbsp;<\/span><\/div>\n<p style=\"line-height: 115%; margin: 0cm 0cm 12.0pt 46.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">Among the <a href=\"https:\/\/support.centreforelites.com\/en\/elements-compounds-and-mixtures\/\">elements<\/a> of the external environment as indicated by Wendy Robson are the following:<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 12.0pt 0cm; text-align: justify; text-indent: 46pt;\"><span class=\"ez-toc-section\" id=\"Socio-Cultural_Forces\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Socio-Cultural Forces<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"line-height: 115%; margin: 0cm 0cm 12.0pt 46.0pt; text-align: justify;\"><b><span style=\"font-size: 11pt; line-height: 115%;\">T<\/span><\/b><span style=\"font-size: 11pt; line-height: 115%;\">hese include life-style changes, career expectations, rate of family formation, consumer activities, population <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> rate, age distribution, regional shifts, urban-rural migration, birth rates and life expectancies. The strategist must be abreast of the social developments in the environment which may include the increasing rate of crime, demands by women for recognition and opportunity.<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 12.0pt 0cm; text-align: justify; text-indent: 46pt;\"><span class=\"ez-toc-section\" id=\"Economic_Forces\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Economic Forces<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"line-height: 115%; margin-left: 46pt; tab-stops: 246.4pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">These include gross national product (GNP) trends, interest rates, money supply, inflation rates, unemployment levels, wage\/price control, devaluation\/revaluation, availability of energy and cost. The&nbsp;<\/span><span style=\"font-size: 11pt;\">consequences of both national and international economic trends need to be monitored in great detail by any company so that the company will not be taken by surprise by the changing world.<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 12.0pt 0cm; text-align: justify; text-indent: 46pt;\"><span class=\"ez-toc-section\" id=\"Technological_Forces\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Technological Forces<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n\n\n\n<p class=\"\"><span style=\"font-family: 'Times New Roman',serif; font-size: 11pt; line-height: 115%; mso-ansi-language: EN-GB; mso-bidi-language: EN-GB; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;\">&nbsp;<\/span><\/p>\n\n\n\n<div>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 17.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">Organisational spending on research and <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> (RXD), focus of technology efforts, patent protection, new products, new <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> in technology, transfer from laboratory to market place and productivity improvement through automation. Technology, developments are the fastest unfolding and the most far reaching in extending and contracting the opportunity for any company.<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 17.0pt; text-align: justify;\"><span class=\"ez-toc-section\" id=\"Legal_Forces\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Legal Forces<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 17.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">These include antitrust regulations, environmental protection laws, tax laws, special incentives, foreign trade regulations, attitudes towards foreign companies, laws on hiring and promoting, stability of government.<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 17.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">The importance of political forces to the business must be considered. The relationship between the private companies and government owned establishment is also important.<\/span><\/p>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 17.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">Also including in the environmental analysis is the task environment which includes the following:<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify; text-indent: 17pt;\"><span class=\"ez-toc-section\" id=\"Demand\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Demand<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"line-height: 115%; margin-left: 17pt; tab-stops: 104.35pt 263.7pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">Among the demand factors are size and <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> of the existing market, number\/size<span style=\"mso-tab-count: 1;\">&nbsp;&nbsp; <\/span>and distribution of customers, physical distribution&nbsp;<\/span><span style=\"font-size: 11pt;\">channels, nature of market competition (price and non-price competition).<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify; text-indent: 17pt;\"><span class=\"ez-toc-section\" id=\"Market_structure\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Market structure<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 17.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">Market structure factors include number\/size distribution of competition and suppliers, barriers to entry or exist to market product characteristics and product life cycles. Environmental analysis must include want for the company&#8221;s products or services. There must be effective market segmentation which will divide the market to pieces that are identifiable, substantial enough to be profitable and defensible against competition.<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify; text-indent: 17pt;\"><span class=\"ez-toc-section\" id=\"Technology\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Technology<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"line-height: 115%; margin: 0cm 0cm 25.0pt 17.0pt; text-align: justify;\"><span style=\"font-size: 11pt; line-height: 115%;\">This includes the level of technology and likely changes, cost structure including economies of scale, dependence on particular raw material or labour.<\/span><\/p>\n<h3 style=\"line-height: 115%; margin: 0cm 0cm 13.0pt 0cm; text-align: justify; text-indent: 17pt;\"><span class=\"ez-toc-section\" id=\"Government\"><\/span><b><span style=\"font-size: 11pt; line-height: 115%;\">Government<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n\n\n\n<p class=\"\"><span style=\"font-family: 'Times New Roman',serif; font-size: 11pt; line-height: 115%; mso-ansi-language: EN-GB; mso-bidi-language: EN-GB; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">Government polices, taxation and legislative apparatus are important in environmental analysis. The impact of particular legislation on the industry relating to product or consumption as well as role of the government as supplier, competitor or customer is a significant environmental factor.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Internal_Analysis_and_Diagnosis\"><\/span><span style=\"mso-bookmark: bookmark273;\"><span style=\"mso-bookmark: bookmark271;\"><span style=\"mso-bookmark: bookmark270;\"><span style=\"color: black;\"><span style=\"mso-list: Ignore;\"><span style=\"font: 7pt 'Times New Roman';\">&nbsp;<\/span><\/span><\/span><\/span><\/span><\/span><!--[endif]--><span style=\"mso-bookmark: bookmark273;\"><span style=\"mso-bookmark: bookmark271;\"><span style=\"mso-bookmark: bookmark270;\"><span style=\"font-size: 11pt; line-height: 115%;\">Internal Analysis and Diagnosis<\/span><\/span><\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"\"><a name=\"bookmark273\"><\/a><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">The internal analysis is also called the strategy advantage analysis and diagnosis.&nbsp;<\/span><span style=\"font-size: 11pt;\">It is the process by which the strategist examines the firm&#8221;s market and distribution, research and <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a>, production and operations, corporate resources and personnel finance and the accounting function to determine where the firm has significant competencies so that it can most effectively exploit the opportunities and also meet the threats to the company&#8221;s weaknesses which would need to be minimised, if not eliminated, in order to achieve corporate objectives.<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">Even where competence to exploit an opportunity is nurtured by experience, the level of that competence may be too low for any great reliance to be placed on it. It would be good to always be able to ascertain the distinctive ability that could be brought to a company or firm that could attract customers away from other competitors.<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">The distinctive competence of an organisation is more than what it can do; it is more of what it can do very well. One has to consider the present strength of opportunities. Take the old typewriter, for instance, handwriting that a simple. The typewriter is found to contribute to a broad range of informed action processing functions, any of which might have suggested an area to be exploited by the manufacturer.<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">However, these opportunities where not exploited until IBM did the electric typewriter and the computer-related input-output devices.<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">Apart from looking at the functions to which the present products contribute, it may be more profitable to identify the skill that underlines whatever successes have been achieved.<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">Therefore, we should look beyond the company&#8221;s capacity to invest new products.<span style=\"mso-tab-count: 1;\">&nbsp;&nbsp;&nbsp; <\/span>New products are the only major highways to new<\/span><\/p>\n\n\n\n<p class=\"\"><span style=\"font-size: 11pt; line-height: 115%;\">opportunities. Other avenues may include new marketing services, new distribution methods, new values in quality, price combinations and creative merchandising. The effort to find or create a competence that is truly distinctive may hold the real key to a company&#8221;s success and future <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a>.<\/span><\/p>\n\n\n\n<div style=\"text-align: justify;\">At any rate, opportunity must be matched with competence after each has been accurately identified and its future significance esteemed. It is this combination that establishes a company&#8221;s economic mission and its position in its environments. The combinations should minimise organisation&#8221;s weaknesses and maximise its strength.<\/div>\n\n\n\n<div style=\"text-align: justify;\">&nbsp;<\/div>\n\n\n\n<div style=\"text-align: justify;\">An essential part of strategic analysis is assessing the effects of possible change in the environment. According to Robson (1997), there are two steps to the process: (i) to consider how the societal, task\/or internal environmental factors may change to assess the strategic implications of such changes for the organization.<\/div>\n\n\n\n<div style=\"text-align: justify;\">&nbsp;<\/div>\n\n\n\n<div style=\"text-align: justify;\">Brannan (1992) refer to the potential major changes facing business organisations as a \u201ccomplex web of near chaos. He described the possible framework for such changes as PEST, political, economical, sociological and technical developments. For an organisation to sustain its business and remain competitive there must be constant, effective and environmental analyses to inform and allow the strategic decisions that keep the organisation competitively healthy to be made. Quite often, change in the business environment could be very expensive and difficult. At times, it could be psychologically difficult to bear while strategic adjustments become increasingly difficult. However, the suggestion of Brannan on how to deal with interpreting change is not to forecast the future but to consider a range of futures which he calls scenario planning.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp;This article on strategic management course exposes you to the business of industry environmental analysis and diagnosis. The business environment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":136,"footnotes":""},"categories":[136],"tags":[178,251],"class_list":["post-1065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategic-management","tag-business-management","tag-environmental-analysis"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-518244.jpeg?fit=1880%2C1253&ssl=1","jetpack-related-posts":[{"id":1064,"url":"https:\/\/support.centreforelites.com\/en\/elements-of-swot-analysis\/","url_meta":{"origin":1065,"position":0},"title":"Elements of SWOT analysis","author":"centreforelites","date":"April 20, 2022","format":false,"excerpt":"This article is about SWOT analysis, which has to do with the analysis or evaluation of the strengths, weaknesses; opportunities and threats (SWOT) to an organisation. 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It makes managers more alert to the winds of change, new opportunities\u00a0and threatening developments. 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The approach should bring together various aspects of management such as marketing strategy,","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"Fundamental Approach to Strategic Management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Fundamental-Approach-to-Strategic-Management.webp?fit=595%2C396&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Fundamental-Approach-to-Strategic-Management.webp?fit=595%2C396&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Fundamental-Approach-to-Strategic-Management.webp?fit=595%2C396&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1093,"url":"https:\/\/support.centreforelites.com\/en\/analysis-of-the-marketing-environment\/","url_meta":{"origin":1065,"position":4},"title":"ANALYSIS OF THE MARKETING ENVIRONMENT","author":"centreforelites","date":"April 10, 2022","format":false,"excerpt":"\u00a0Every move a marketer makes is affected by, and has some effect on his marketing environment. This could happen on a small scale, such as between a manufacturer and a retailer. It could also happen on a larger scale involving entire industries and governments. Very often, changes in the elements\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/support.centreforelites.com\/en\/category\/marketing\/"},"img":{"alt_text":"ANALYSIS OF THE MARKETING ENVIRONMENT","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/ANALYSIS-OF-THE-MARKETING-ENVIRONMENT1.jpg?fit=724%2C504&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/ANALYSIS-OF-THE-MARKETING-ENVIRONMENT1.jpg?fit=724%2C504&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/ANALYSIS-OF-THE-MARKETING-ENVIRONMENT1.jpg?fit=724%2C504&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/ANALYSIS-OF-THE-MARKETING-ENVIRONMENT1.jpg?fit=724%2C504&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1063,"url":"https:\/\/support.centreforelites.com\/en\/introduction-to-strategic-choice\/","url_meta":{"origin":1065,"position":5},"title":"Introduction to Strategic Choice","author":"centreforelites","date":"April 20, 2022","format":false,"excerpt":"This article deals with strategic choice. 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