3 The risk identification is the very important benefit of environmental analysis. Explain how will it benefit the domestic organization.
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"Environmental analysis" is a strategic tool used to identify all the "external & internal" factors that can impact the organisation's performance. The analysis entails assessing the risk level or opportunity the factors might present.
Explanation:
The benefits of environmental analysis to domestic organisation are
- This helps companies to analyze the environment and formulate plans appropriately, which would accomplish the goals effectively.
- It allows entrepreneurs flexibility to predict opportunities and prepare to respond optionally. This also helps to develop "early warning system" to prevent risks as well develop strategies that may affect the organization
- Environmental changes are also frequent & unexpected. Moreover, changes of this type can not be anticipated in advance precisely. Again, the organisation can only foresee a few and not all such changes. Environmental analysis helps to predict the company's future prospects.
- Many environmental conditions challenge the strategic approach of the organisation and the achievement of its objectives. While other conditions give greater opportunities for the achievement of the goals. The organisation can perceive the risk involved by carrying out a comprehensive analysis of environmental factors and can also benefit from the opportunities
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What is environmental analysis why should it be conducted ...
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The risk identification is the very important benefit of environmental analysis as it helps to determine the functioning of the organisation.
Explanation:
- The risk analysis in an environment consists of the various market analysis and analyses of the companies corporates and clients and competitors.
- So as to identify the macro and micro factors of the environment that are external and internal to the functioning of the company.
- For the domestic environment, the risk analysis includes environmental scanning, monitoring, forecasting and estimating the demands of the organization.
- When considering the political and legal factor like the risks in labour market, economic factors like the GDP and rates of inflation.
- Social factors like the values ideas and opinions. Technology factors like the company, industrial, and technological changes. Other being the natural resource management.
Learn more about the risk identification is the very important benefit of environmental analysis.
- brainly.in/question/18321728 answered by skyfall63.
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