Business Environment Analysis: ICON College - Internal & External

This assignment solution delves into the analysis of the business environment, examining both internal and external factors that influence an organization's operations. It highlights the significance of managers conducting thorough internal and external analyses to identify strengths, weaknesses, opportunities, and threats (SWOT). The report further explores the interrelationship between internal strengths and weaknesses with macro factors like political, economic, social, technological, legal, and environmental elements. By understanding these dynamics, businesses can formulate effective strategies to achieve their objectives and goals. The document references academic sources to support its analysis and conclusions. Desklib provides this assignment as a resource for students seeking to enhance their understanding of business environment analysis and its practical applications.

BUSINESS
ENVIRONMENT
TASK 3&4

Content
 Introduction
 Internal and external analysis of organisation
 Interrelationship of strength and weakness with macro factors
 References

Introduction
Business environment is a combination of various internal and
external factors which affects activities of an enterprise. It is
very essential that all these factors must be study by managers
to formulate better policies for business.

Internal and external analysis of
organisation
Managers of every enterprise carry out internal and external
analysis of firm as this help in identify main strengths and
weakness of firm. This help manager in collect information
about various factors exist in business environment and then
guide him in formulate better strategies for future activities of
business.

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Strengths:
At present company is
offering its services to its
customers through more
than 1500 stores all around
the world.

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Weakness:
Company losses its key suppliers, employees and developers
on continuous basis. This result in increase cost of company
as now company has to invest more funds in process of
recruitment, selection and training of employees.

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Opportunities:
Concept of market segmentation provide an opportunity to
enterprise to expand business operations in new areas.
Threats:
Increment in number of competitors is one of the biggest
threat for company. This increase the chance of firm to
loose its market share.

Interrelationship of strength and
weakness with macro factors
Various factors exist in business environment largely affect
business and its operations. In order to achieve desired results
it very essential for manager to identify those elements and
examine the same so company can achieve its set objectives
and goals in an effective way.

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 Political factor
 Economic factors
 Social factors
 Technological factors
 Legal factors
 Environmental
factors

References
Klapper, L., Lewin, A. and Delgado, J.M.Q., 2011. The impact of
the business environment on the business creation process.
In Entrepreneurship and Economic Development (pp. 108-
123). Palgrave Macmillan UK.
Krishnan, A., 2013. Culture As a Successor of Quality Initiatives:
A Review. International Journal of Social Science. 2(1).
p.53.
Love, V.J., 2011. Private company accounting: A concept whose
time has come. The CPA Journal. 81(2). p.16.