Analyzing the External Environment

The main purpose of this paper is through the company 's external and internal environment analysis to evaluate the company in the industry and future developments. Assess the external environment mainly through PESTLE Analysis and Porter 's 5 Forces. Strategic Recourses & Capability Analysis for internal environmental assessment is conducted. Finally, the company somehow SWOT analysis, concluded ••••

When manipulating a business’s strategy, it is important to focus on the external factors in the environment. An external analysis is where a business conducts environmental scanning that present a company with the key external forces influencing the organization. The facets of external forces examined are the business environment, remote environment, or the competitive environment. A business environment is all of the external factors in the general environment that a firm cannot control, but can affect their strategy. The remote environment is the forces that affect most firms. Lastly, a competitive environment is the firm’s specific industry and its entirety. The external analysis is pertinent to a company called Dick’s Drive- In; without it, Dick’s would not be a thriving popular business today.

Analyze the external and internal environment for opportunities, threats, strengths, and weaknesses that impact the firm’s competitiveness.

The external environment affects a firm’s strategic actions. Essentially, if a company decision has created a disaster in the environment, they

Target Corporation is uniquely one of the most important stores in the world. This paper displays an Environmental Analysis of Target Corporation. This analysis will be completed with opportunities, threats and the five forces. The Five forces Model includes: The Economic Factors, Social Factors, Political Factors, and Technological Factors that might disturb the professionalism of Target Corporation.

There are internal and external elements that help a corporation determine their future. Environmental scanning monitors, evaluates, and disseminates the information from both the internal and external environments within the corporation. The internal and external elements are strategic factors that determine the corporation’s future. Environmental scanning can be conducted through a simple SWOT analysis that describes the strengths, weaknesses, opportunities, and threats as strategic factors for an organization. The internal environment of the corporation is the strengths and weaknesses variables within the organization. The external

It is very critical for organization to understand the importance of external environment, which includes remote, operating and industrial environments before developing its future objective. Each environment bases on different factors, therefore the analysis of external environment will help the company seeks for new opportunity in many areas as well as discovering challenges that might have direct impact to the organization in the future. The remote environment consists of the study of the economic trend such as the level of disposable income, inflation rate and prime rate, the study of social factors such as life style of consumers. The political factor also plays an important role in external environment. Political factor focuses

A very small number of people have succeeded in their lifetime what the Overton’s accomplished through theirs. By way of a countless work hours, audacity and willpower, Oscar and Evelyn Overton became conscious of their vision - to possess a fruitful small-business such as the Cheesecake Factory.

External environment aims to help an organisation to obtain opportunities and threats that will affect the organisation’s competitive situation. External opportunities are characteristics of the external environment that have the potential to help the organization achieve or exceed its strategic goals. External threats are characteristics of the external environment that may prevent the organization from achieving its strategic goals. Therefore, organisations must formulate appropriate strategies to take advantage of the opportunities while overcome the threats in order to achieve their strategic goals.

Internal and external environments are very important for businesses operating globally due to local and external competitions. Healthy businesses must analyze their internal and external environments in their strategy formulation. Strategic planning requires that an organization must initially scan the environment for the presence of numerous competitors as well as analyzing physical resources and skills of the workforce. Evaluation of the internal and external environments is then followed by crucial decisions regarding long and short-term goals

© CPA Australia Ltd 2014. This is an electronic version of the printed study material.

An analysis of the external environment includes the factors in a business’s external environment about a business's industry, competition, and political and social environments, and affects the firm’s strategy (Aaker, 2001).

Much research and development goes into the marketing plan for any company. This often requires extensive external and internal environment analysis. When conducting external environmental analysis, a company must consider six factors. These factors include competition, economic growth, political trends, legal issues, advances in technology, and sociocultural trends (Ferrell & Hartline, 2014). I have a strong interest in technology and gadgets. With that being the case, I chose the iPhone as the product and will analyze the six external environmental factors using that. The first external factor to consider is the competition. This involves identifying the main competing companies as well as their strengths and weaknesses. If you are a true fan of Apple and its iPhone, then there is not any real competition. But despite what iPhone fans might believe, Apple does have competition in the smart phone realm. Its biggest competitor is Samsung. Numbers wise, Apple only sells roughly twenty percent of smartphones world-wide with various other competitors selling the remaining eighty percent. But out of the twenty percent that Apple sells, it manages to capture over ninety percent of the market profits. Samsung manages to grab fifteen percent of the market profit (Weiss, 2015). Samsung has experienced several years of disappointing sales which made the competition less stiff than in previous years.

Organizations need to be aware of what is going on in their environments that might concern them, and more so, during the planning process. Diverse but overlapping environments ought to be monitored; the macro environment, the industrial environment, the competitive environment, and the organization’s internal environment (Ginter, 2013; Pfeiffer, 1986). At Rapha AL, my chosen organization, the environmental scanning will include distinct internal and external factors that would enable Rapha gain excellent understanding of the current and emerging issues that might affect it, and inspire the setting of clear and achievable goals. In this paper, I will analyze and address the strengths, weaknesses, opportunities and threats (SWOT); discuss current and prospective customers and evaluate the impact of environmental factors on the organization’s effectiveness to achieve the established goals within the strategic plan. Furthermore, I will address evolving external issues that could influence the strategic plan, evaluate the benefits of competitive analysis and Rapha’s capacity to achieve the strategic goals and objectives in a 3-year strategic plan.

Analysis of the any change in the external environment for any organization can be studied with the opportunities and threats they are offering to the company