Outcome 2 & external environment

Question 1

Step # 2 external analysis

Answer 1

systematic monitoring of the major external forces influencing the organization, including

1. forces in the business environment
2. Remote environment
3. Competitive environment

Question 2

Remote environment

Answer 2

Economic and ecological changes
Technological changes
Demographics changes
Social changes
Legal and regulatory changes

Question 3

Competitive environment

Answer 3

Five forces framework:

New entrants
suppliers
customers
Substitutes