Environmental Scan Report

Added on - 29 Apr 2020

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Running head: ENVIRONMENTAL SCAN REPORTEnvironmental Scan Reportof Woolworths LimitedName of the University:Name of the Student:Authors Note:
1ENVIRONMENTAL SCAN REPORTTable of Contents1. Introduction......................................................................................................................22. Factors Influencing External Business Environment......................................................23. Environmental Factors Impacting Australian Business...................................................34. Business Analysis of Woolworths and Components Impacting External BusinessEnvironment....................................................................................................................................35. Pressure Factors of Woolworths and Four External Business Environment Components.........................................................................................................................................................46. Conclusion.......................................................................................................................5References............................................................................................................................6
2ENVIRONMENTAL SCAN REPORT1. IntroductionAnalyzing business environmental factors can support companies in developingcompetitive strategies. The objective of this paper is to gather useful information regardingbusiness environment of an Australian business namely, Woolworths Limited. Moreover, thepaper will also describe the nature of the selected business and the ways in which environmentalfactors exert pressure on the business.2. Factors Influencing External Business EnvironmentPEST analysis encompass aspects that impacts external business environment oforganizations (Mugurel-Alin, 2017). This evaluation also ascertains the managers to gather viewof the current strategic position of the company and develop effective strategies that can improvetheir business position. PEST analysis includes factors such as political, environmental, socialand technological.Political factors are focused on analyzing the political situation of the nation and itsimpact on the business.Economic factors focus in analyzing determinants of economic position of a nation inwhich the business operates including inflation rate along with monetary and fiscalpolicies (Botha, Kourie & Snyman, 2014).Social factors analyses the effect of cultural implications of a country in the business suchas social lifestyles and domestic structuresTechnological factors analyses consumer reaction to recent technological trends and itsimpact in the business
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