BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A company examines its external environment to identify the opportunities and threats. The opportunities and threats are generated from the company’s external environment. The external factors are produced by politics, the environment, and society.

Detailed explanation-2: -The External Analysis takes a look at the opportunities and threats existing in your organization’s environment. Both opportunities and threats are independent from the organization.

Detailed explanation-3: -A SWOT analysis helps you assess internal factors that might affect your business (strengths and weaknesses) and external factors (opportunities and threats). You will need to review and act on the results from the SWOT analysis.

Detailed explanation-4: -Opportunities and threats are external-things that are going on outside your company, in the larger market. You can take advantage of opportunities and protect against threats, but you can’t change them. Examples include competitors, prices of raw materials, and customer shopping trends.

Detailed explanation-5: -Analyzing your company’s external environment is a critical step in preparing a strategic plan. This is a complex task because it involves collecting a variety of data to get an accurate picture of the situation. Based on this analysis, the company can then make sound decisions to further its growth.