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Question 1-Macroenviroment. Royal Bank of Canada MACROENVIRONMENTAL ANALYSIS A macroenvironmental analysis is the first step in the strategy formulation process. The focus of the analysis may involve an assessment of a number of areas of the environment including political, economic, legal, social, and technological. The approach to accomplishing an in-depth analysis of the macroenvironment involves a number of steps: 1. Scanning macroenvironments for warning signs and possible environmental changes that will affect the organization. 2. Monitoring environments for specific trends and patterns. 3. Forecasting future directions of environmental change. 4. Assessing current and future trends in terms of the affects such changes would have on the organization. Royal Bank of Canada is the largest bank in Canada. In 1993 decided to expand the scope of bank's operation to remote parts of Canada. There were two options, one was to increase the number of branches and the second was the option of branchless (online) bank. However the first...

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