Mgmt-303/ week 3 swot analysis – part 3
The internal environment of an organization is comprised of the elements within the company that affects its ability to reach its objectives. These include organizational culture, corporate structure and hierarchy, resources, technology infrastructure, financial capabilities, employee skills and morale, infrastructure and facilities management. All of these components can greatly affect how well an organization functions at all levels.
The external environment consists of factors outside the control of a company that can impact its operations and performance. These include competition in the industry; economic conditions such as unemployment rates or inflation; social trends; legal regulations; technological advances; environmental issues; political stability; natural disasters and other global forces. Companies must monitor their external environment closely in order to anticipate changes in customer demand or shifts in market dynamics that could affect their operations or profitability.