Analysis of the Portable Saw Mill Industry

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External Analysis of the Portable Saw Mill Industry Part A: Explain three benefits of conducting an external analysis. For Edward Perry, Timber King's new CEO, external analysis is one of the most strategic activities he can engage in and have his company continually pursue. Of the many benefits associated with external analysis, the top three are staying on top of customer trends and their continual evolution, being able to anticipate and act on opportunities, and getting advance warning of any significant threats (Banham, 2010). These three areas of customer-centered analysis, scanning the external environment for opportunities while looking to mitigate threats must eventually be integrated to the internal systems and processes of Timber King in order for the company to be successful (Feldmann, Olhager, 2008). The company must become highly agile and market-driven for the portable saw mill business to succeed. Part B: Educate Mr. Perry on some of the challenges of conducting an external analysis. There are many inherent challenges in completing an external analysis of your company. First, the methodology or approach to researching the external factors needs to be considered. This is a very critical decision because it will dictate in large part how valuable the data you collect is (Banham, 2010). Inherent in the methodology must be the overarching goals of the external analysis to begin with. If the goal is to expand the overall market for portable saw mills, the

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