Objectives Of Internal Environment

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UNIT 2: Internal Environment of Business – An Overview

 LEARNING OBJECTIVES:

 Understand the concept, meaning and objective of an internal environment of business
 Understand the various factors of internal business environment that has an impact or implication on the business
 Understand the analysis of internal environment
 Understand the concept and importance of SWOT analysis with its advantage and limitations

 STRUCTURE:

2.1 Introduction
2.2 Objectives
2.3 Meaning of Internal Environment
2.4 Constituents of Internal Environment
2.4.1 Value System
2.4.2 Vision, Mission, and Objectives
2.4.3 Management Structure and Nature
2.4.4 Internal Power Relationship
2.4.5 Human Resources
2.4.6 Company Image and Brand Equity
2.4.7 Organizational Climate
2.4.8 Other Factors
2.5 Analysis of Internal Environment
2.6 Concept of SWOT Analysis (with examples)
2.7 Importance of SWOT Analysis (including a brief
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For example, identified threats in the business environment, such as new government regulations regarding a product design or the introduction of competing products, might alert the business owner that a proposed investment in a new manufacturing production line should be more carefully evaluated. In addition, an awareness of a company weakness such as a lack of qualified employees might suggest a need to consider outsourcing particular functions. In turn, opportunities such as the availability of low-interest loans for start-ups might encourage the entrepreneur to pursue the development of a new product to meet a rising customer demand. In contrast, identified strengths, such as extensive experience in an industry experiencing rapid international growth, might suggest the need to partner with foreign
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