--------is the process of analyzing the environment for the identification of factors which have an impact on or have implication for the business
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Environmental analysis is the process of analyzing the environment for the identification of factors which have an impact on or have implication for the business
Explanation:
- Environmental analysis is an important tool that helps the business organisation in evaluating and analyzing the the various opportunities and threats within its external environment. This helps the business organization to create strategic decisions for overcoming the problems and find effective solutions for them
- The various factors like the political, technological and socio-economical conditions that have an impact on the business situations. These factors impact the business significantly in the dynamic economy along with the threat of the competition in the markets
- Environmental analysis helps the organisation to effectively work out plans for the growth and development of the enterprise. This can be done by collecting and gathering the required information along with changes that are fast taking place in the environment.
To know more about environmental analysis
Environmental analysis and competitor analysis of strategic management
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