Fonterra Business Report

1350 WordsJun 25, 20186 Pages
3. Environmental Scan: Environmental scanning is the process of gathering information about events and their relationships within an organization's internal and external environments. The basic purpose of environmental scanning is to help management determine the future direction of the organization (Barnat, 2004). For a business to succeed, it is important to study the business environment of the firm that consists external and internal influences that affect the firm’s decisions and performance (Grant, 2010). Environmental scanning includes the assessment of Macro and Micro environmental analysis. Source: http://www.whatmakesagoodleader.com/macro-environment-analysis.html 3.1 Macro Environmental Analysis The first phase of a strategic…show more content…
The overall economic outlook of New Zealand is improving as well as labor market (New Zealand Business Confidence, 2012), which gives confidence for WeTrust in generating revenues and supporting the country economic growth. As per the positive growth of the economy and the increase in labor market in New Zealand, more SMEs are expected to increase (Ministry of Economic Development, 2011) and jobs are expected to be available in a more competitive mode in the market and that is where WeTrust will take the advantages out of the business field in gaining confidence and reputation from its valued customers on the basis of comprehensive services and capabilities that assist the companies to achieve their growth. 3.1.1.3 Social Factors: Social forces take into account the aspects that impact the market and industry socially. These features include demographics, cultures & traditions, lifestyles, attitude & behavior, and quality of life. As a developed country, New Zealand provides prestigious education system, high standard of living with good health care system and fine security and safety. The increasing of population growth rate, the positive and can-do attitude of New Zealanders, optimistic social trends and expectation toward business, will provide a fine environment for WeTrust to enter the market. WeTrust will work toward
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