Environment Analysis...
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Every business runs in environment and every business success & failure also depends upon its environment. Environment means internal and external factors, which directly and indirectly affects business.In Internal factors (management,labour , organization policies ,rules,skill of labours)are included &in external factors (social, political,legal,technological , economic &geographical) factors are included.
Environment Analysis is the process of study the internal and external factors where the business is run is studied and what it's impact on the organisation.
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| Environment Analysis |
In Environment Analysis systematic data is collected and then these data are analysed after analysis these data we come to know what are the available opportunities and what are the threats in environment. Through this analysis manager come to bknow the available opportunities so that he take decision according to that take benefit and he also come to know the threats (danger points ) which affects business negatively so manager become alert and save their business from such threats .No business can get success without analysis his environment where his business run .
In Internal environment Analysis we analysis the SWOT it includes (Strength, Weakness, Opportunities & Threats).With the SWOT analysis businessmen come to the what are the strengh of business it means what are its plus point in business ,and also come to know Weakness means what is weakness of his business which is hurdle in his success.
In External Environment Analysis we analysis the PESTLE it means (political,Economical, Social, Technological, legal).In this each factor is deeply analysis and study how and how much these affects business.
Environment Analysis also helps in making strategy (to win over competitors).We make planning to win over the competition in business.
Through Environment Analysis businessmen come to know the taste, preferences of consumers and produce goods accordingly.Through environment analysis we come to know Government attitude towards business means Government policies,tax rates laws etc ,In social Analysis we come to know the customs ,traditions,festivals which society had to follow so he make product accordingly.
Thus Environment Analysis examine the internal and external forces of the organisation.In internal components we come to know the strengh & weakness of our organisation and in external forces we come to know what are the opportunities and threats outside the business..
https://commerceclasses86.blogspot.com/2020/08/business-environment.html?m=1
