ENTREPRENEURSHIP

Detailed explanation-1: -A situation analysis is a snapshot of the environment in which a business has been operating over a given period of time, usually the last 12 to 16 months. It evaluates internal and external environments as they relate to marketing and sales.

Detailed explanation-2: -A situational analysis should examine the external and internal environment that impact a business’s performance. External factors include the economy, competitors, government policies, and regulations. Company culture, employees, business resources, and cash management are internal factors that affect a business.

Detailed explanation-3: -A market situation analysis involves examining the current factors that affect supply and demand. These factors may include the availability of substitutes, prices of related goods and services, changes in income, or demographic factors such as age and location.