This particular assignment talks about the internal and external environment analysis in the marketing plan. For any organization understanding the environment is of utmost importance. This will initially allow analyzing the threats and opportunities related to the business area. For assignment help, you can contact us for a quality assignment.
The external Analysis generally portrays the larger picture of the organization. In contrast, the internal Analysis depicts the factors within the business. So it can be said that the internal and external analysis provides a clear picture to the organization on the current situation.
So internal Analysis depicts all the aspects relating to the organization itself. For example, internal Analysis helps the organization analyze the organization’s strong and weak aspects or factors. In this case, the performance of the outer environment hardly matters.
Internal Analysis can play a vital role in the organization. The internal Analysis provides knowledge to the organization while carrying out its strategic process or executing its strategic process. For internal analysis, the SWOT tool can be considered an excellent tool. It is because it only encourages the managers to think more about the organization itself. As the name prescribes that SWOT analysis consists of four factors they are Strength, weakness, opportunities, and threats. SWOT Analysis helps the organization to examine the advantages within the organization. So, as a result of which the organization can reduce the risks by understanding the lacking factors. The other two factors of SWOT Analysis portrays the opportunity and threat.
These are the factors in which the organization performs exceptionally well. These are considered to be one of the aspects that differentiate a particular organization from its competitors. This can motivate the staffs in performing well.
These are considered to be the factors in which organizations need improvement. It generally focuses on the people, resources, system, and procedures.
They are considered to be the factors that provide chances for something positive to happen. So it is of utmost importance for the organization to analyze the recent market trends. The organization must always watch the changes in the government policy related to the concerned field. For best assignment help contact us to guide you more effectively to solve your queries.
These are considered to be the factors that negatively create an impact on the business. These threats can be shifts in the market requirements, shortage of employees, competitive threats, and many more. In this circumstance, the organization must focus on the various activities of the competitors.
To implement strategic management, external Analysis should be analyzed. While evaluating the business goal and objective, it is essential to examine the surrounding business environment. An external analysis provides knowledge about the opportunities and threats that can affect the business.
For analyzing the external factors, the PESTLE model can be one of the valuable tools. PESTLE stands for Political, Environmental, Social, Legal, and Economic factors. So it can be said that all the analyses are considered the major factors affecting the company.
This factor analyses what changes can be made in the policies. In this case, the organization analysis what changes in the government policies can affect or influence the organization’s business. The organizations also look into the fact that tax incentives are developed that can genuinely affect the organization’s strategic management—for instance, trade agreements between countries.
This factor analyzes the current economic trend trending in the global market. The economic factors that are taken into consideration are interest rates, consumer confidence, exchange rates, unemployment levels, energy availability. This factor is analyzed to examine its impact on business activity. Consequently, this factor also dramatically influences the prices of the products or services offered by the organization.
For the most part, this factor portrays the arising patterns occurring in the market in life, designs, and other social elements. In the present situation, the association likewise analyzes its suggestions available for the related business. This factor likewise dissects the segment pattern and its impact on the available size of the business.
This factor examines how technological factors are affecting the industry. Some of the technological factors are new materials emerging in digitalization and the growing use of the internet. This factor can be held responsible for influencing certain industries to enter or not to enter a specific market, to launch or not launch any specific product globally. This Analysis will genuinely prevent the organization from investing more in developing technology.
The legal factor generally depicts the specific laws. Some of the laws are discrimination laws, employment laws, consumer protection laws, antitrust laws, patent laws. Any organization needs to understand the importance of such laws to trade successfully in the market both globally and locally. So in such a case, the organization must be aware of the political changes in the legislation. The organization must also be aware of the impact of such legal factors on the business in the future.
Nowadays environment has become a significant factor due to the increasing rate of pollution, scarcity of raw materials, carbon footprint targets set by a particular government. In such cases, ecological and environmental aspects are taken into consideration. The related environmental and ecological aspects are climate change, weather, and environmental offset, which can genuinely affect specific industries. So the organizations nowadays have involved themselves more in certain practices such as corporate social responsibility and sustainability.
So this particular assignment portrays the internal and external analysis. It also depicts the important related factors and their influence on the specific market or industry. For Internal and External environment analysis assignment help, please feel free to contact us. We would be very much happy to serve the students with all kindness and hard work.