Bus 499 week 6 assignment 2 external and internal environments
The general environment, competition, threats, opportunities, strengths and weaknesses of a corporation can all have an effect on its operations. The general environment is the external factors that impact the organization such as economic conditions, legal and regulatory requirements, technological advances and social trends. Competition refers to other organizations in the same industry and how they may be competing for customers or resources. Threats are any potential dangers or risks that could affect the success of the business while opportunities refer to any potential advantages or openings that could lead to growth. Strengths are those features or abilities that give an organization a competitive edge while weaknesses are anything that holds it back.
By analyzing these elements able gain better understanding whats happening around company then evaluate where improvements need made . Furthermore its essential recognize importance having different strategies place order capitalize both threats opportunities presented thus why its important remain vigilant regarding changes occurring within marketplace . Ultimately , by taking into account variables mentioned able create comprehensive evaluation thus allowing move forward more confidently.