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Understanding the environment of business organization.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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INTRODUCTION: It is important for managers of any organization to understand the environment their organization is surrounded with, because there are various external factors that affect an organisation's acquisition of inputs and generation of outputs, directly or indirectly. These factors form a part of the macro and micro environmental factors. The macro forces affect all the businesses operating in that particular market and the micro forces are company specific and include factors such as information, suppliers, competitors, buyer's etc. STEPS IN ENVIRONMENTAL ANALYSIS: Source: Johnson & Scholes (pp 99). UNDERSTANDING THE NATURE OF THE ENVIRONMENT: It is important to understand the uncertainty in the environment. A Company generally operates in a simple/static environment or a dynamic & complex environment. The Airline Industry and the Car Industry operates in a Dynamic environment and a complex environment to some extent. Source: Johnson & Scholes (pp 101). AUDITING ENVIRONMENATL INFLUENCE According to Richard Lynch, there are two...
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