In this article we describe the External Analysis, which provides insight into the opportunities and threats within a business environment.
In this article you can expect:
What is the External Analysis?
External Analysis is the analysis of the external environment and provides insight into the opportunities and threats within a business environment. This forms the input for a SWOT Analysis on which the ultimate strategy of a business is based. Together with the Internal Analysis, it forms the Situational Analysis.
Why an External Analysis?
By choosing characteristics out of the business environment as basis for a long term strategy, a company is enabled to reach a good balance between supply and demand. Thereby, a company can well respond to the client’s wants and needs.
How do I conduct an External Analysis?
The CICD Analysis and DESTEP offer a good structure to map out all important facets of the external business environment.Click on the link for more information.
MACRO environment --> DESTEP Analysis.