BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -external environmental analysis. An opportunity is a condition in the general environment that, if exploited, helps a company achieve strategic competitiveness. A threat is a condition in the general environment that may hinder a company’s efforts to achieve strategic competitiveness.

Detailed explanation-2: -OPPORTUNITY is a condition in the general environment that if exploited effectively, helps a company achieve strategic competitiveness.

Detailed explanation-3: -What is the general environment? The general environment, or macro-environment, is the variety of factors beyond an organization’s control that affect their operation and performance. These external influencers can determine whether a business experiences opportunities or setbacks in the marketplace.

Detailed explanation-4: -PESTEL reflects the names of the six segments of the general environment: (1) political, (2) economic, (3) socio-cultural, (4) technological, (5) environmental, and (6) legal.

Detailed explanation-5: -A PEST analysis (or STEP analysis) invites you to list all the relevant external forces using four headings: Political, Economic, Sociological and Technological. These are useful headings; it doesn’t matter that some items might be both political and economic (eg taxation and exchange rates).